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Hi Frog Seis JLPP Micky
I definitely was not mistaken Slater actually confirmed that Leon had visited him and had been so enthusiastic about the deal that Slater decided to buy his last lot of shares at 16p .I am sure there must be a deal in the pipeline.
Shuvlin
My sentiments exactly especially we know the new J/V will be earnings positive and furthermore look at improvements in price of ALL metals Jubilee produces. My view of investors on stock exchanges was never high but has now sunk to a new low. To buy Jubilee at these prices is definitely a no brainier. I feel the share is being punished for past mistakes which has little to do with future profits
Extremely odd on one of the best days for PGM'S the share price has dropped. It just goes to show how distrustful the market is of Leon.It was obviously a HUGE mistake for the company not to advise shareholders of the water and load shedding problems.I only hope the directors will NEVER make that mistake again
Thanks Gotreal- For us poor suckers in South Africa the only benefit we can get is to invest in a company earning dollars such as Jubilee as the rand is now 24.14 to the pound and 18.71 to the dollar.
Going back to Merafe in the year 2000 in working out the profitability we worked out at rand price of 7 to the $ the company would be highly profitable. With the chrome price so high,and with the new J/V announced Jubilee should do very well with chrome. I am convinced that the market has hopelessly under rated the latest RNS
Orion
I have filtered bushy but with your comments that Bushy got closer with his forecast of the Jubilee share price you are obviously in the same camp as you should know the reason why the share price performed badly if you had done any research on the company.
What matters now is not in the past but in the future.THAT is the only decision you need to make.
HI Mickie
While I know little about progress in Zambia,what I do know is that Leon has a good relationship with the Zambian authorities so I would not rule out any deal in Zambia especially in regard to Mopani ,but what has made me more bullish about the company is the deal they HAVE made in South Africa which especially if the J/V has been made with Glencore .
I certainly believe the market has hopelessly under rated the new J/V and from what is going on in South Africa I expect PGM'S will soon come into their own and prices will not stay subdued for very much longer.
Yes Mickie I agree exciting times ahead
Orion
I was one of Leon's fearsome critics when he failed to tell us of the problems he was having with load shedding and water and kept painting a wonderful picture of Jubilee's growth.Both Ollie and Leon have admitted that they were wrong to have done so and as far as I am concerned (unless PROVEN otherwise) that situation is behind us.
Unlike Bushy and you I have done hours of homework on the company and since the fiasco the only RNS"S have been positive so I suggest you either wait patiently for more news or sell up(sell short if you want-I hope Bushy has the guts to do so with all his negatives about the company)and we shall only see who was right or wrong about the company in the future .I believe I will be richer and Bushy poorer in a years time.
Exercise some patience and join those of us that are bullish and be suitably rewarded or get the hell out the company.
Sharkie
IS Glencore the new JV partner of Jubilee. If so the future looks bright indeed.At the time Merafe did the deal with Glencore some 20 years ago the company already had vast chrome tailings and was just starting it's project LION which was about to increase chrome production substantially . I would now estimate that together with new production,they would have sufficient tailings to last a life time.
Jubilee have negotiated a better deal than they could with Samancor so I believe the market has under estimated just how important his deal is!
Living in South Africa I feel I can reassure shareholders that both the South African and Zambian governments need Jubilee as much as Jubilee needs them. Both countries need to create jobs as well as earn money from their mining exploits so I am not as negative about the countries as some posters are.
I believe that copper and PGM's will recover in price so all we need from the Jubilee board is to be transparent with share holders about production efforts.
We should see a magnificent company emerge if everything goes to plan.
Today's RNS is unexpected great news . The longer I am invested in the stock market the more I realize that many investors(like Bushy) are a sorry lot who should not put their money into the stock exchange as they are too fearful of losing money without doing any homework on the company that they are investing in.I could not believe my eyes when Jubilee opened down this morning on the JSE. I now see Jubilee growing into a great company over the next few years with earnings set to quadruple.
I am now relaxed