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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
Gotreal
I fully understand why the share price is so low. It is a lack of trust that the company can produce what they say they will.It is a direct problem that has arisen because of the lack of news when the company was having load shedding and water problems. I can't believe that the new chairman can allow that sort of situation to happen again.
I am only bewildered that the bigger company share holders who must know more than us are not taking the shares at this price. What are your thoughts on present situation
Orion
I am as anxious as you but just relax. If something has gone wrong they are obliged to tell us. You are like those share holders at the moment who are selling their shares because of the past.Silence does not mean bad news.
Hopefully when we do hear from company the share will react to the GOOD news
Seis I don't like to get my hopes us as we have been let down so often but I don't believe that Jubilee's pgm production was affected by load shedding and I must say that on the JSE today there are very few sellers and the share is trading at 176 (up 3c) and the lowest seller is now at 190.
If we do not get a RNS this week I will try and contact Leon by Email next week
Hi again Seis & Gotreal
I don't know if you have seen the other web site but there are claims that Leon HAS replied to emails and it appears he is very happy with what is happening and has promised a RNS real soon
Hi Seis . Looking at your figures I know you are being conservative as you have added nothing for the eastern limb in South Africa or the Northen limb in Zambia plus other deals being negotiated in Zambia which I hope will come pretty soon as the Zambians are demanding new jobs and I can't believe The Zambian authorities will not include Jubilee in their future plans. They need Jubilee as much as Jubilee needs them
Hi Moneyman
You are quite right.The EFF would be a bigger disaster than the ANC . South Africa on it's way to a steep cliff would fall over the cliff if the EFF came in but that can only happen if they try to arrange if they get together with the ANC.
The blacks I speak to do have brains and they are mainly talking about voting for the Action Party where the leader Herman Mashaba is a no nonsense pro business man(much like the Zambian president) but some are talking about voting for the Democratic Alliance even though they are considered a white party by many.
Anyway the only way to keep out the ANC will be a coalition of all parties except the ANC & EFF.
There is a chance I think !
The EFF and ANC are not exactly close so they may chose to go in with the anti ANC alliance .
Hopefully the ANC +EFF will receive less votes than all other parties otherwise the EFF will be making difficult demands if their votes are needed
The main hope is for the ANC vote to fall to 30% and the EFF not to increase votes.
IMO the next election will be critical to the survival of SOUTH AFRICA and I do believe there is hope for a good outcome
Hi Moneyman
I live in South Africa and speak to many black people who also fed up with corruption and load shedding and for the first time I actually believe the ANC will take a bad beating in the next election so I believe there is at last a chance for a better government here as there was in Zambia. While I agree that PGM & copper/cobalt prices are disappointingly low but the ironic fact is that in rand terms they are not.
The silver lining is a rotten currency so South Africans are not as badly off. If only they realized that fact they should be buying here. In pounds there has been a smaller benefit due to the strong dollar.
I think all we need do is to wait for our ship to arrive
Gotreal
Like you I believe Inyoni production has not been affected by load shedding but extra costs have been added to keep generators going. I live in SOUTH AFRICA and at a cost I am not affected by load shedding so I cannot believe Jubilee has not sorted out the problem. However it has caused the share price to side. An RNS assuring shareholders that production is ongoing would help to stop the slide.
Hi Mickie
Yes I too have sorted out my load shedding problem that is why I believe Jubilee should now have no problems with load shedding.In fact the load shedding should prove beneficial to Jubilee.I expect cost of production to go up due to extra costs caused by the load shedding BUT the platinum miners are the companies that are most effected by load shedding as going under ground becomes problematical resulting in falling production for platinum miners, and as South Africa is the biggest producer of PGM'S I am confident that eventually the price of all PGM'S will have to rise. The increase in prices should off set increased costs and then some. Everyone seems to agree but PGM prices at present remain subdued due to talk of recessions world wide. I believe it is just a waiting game before metal prices start to rise.