Member Info for gotreal

Maybe someone can point out to the troll that even WHI says they do not know what the split is and that if varies dependent on the feedstock. It is because Clownet states things as facts when even he admits that the figures are "my monthly average". Only JLP know what the basket value is and a variation of 3% is nothing given the variability but Clowney needs to use it as another way of dampening enthusiasm...for wehatever reason/agenda he/she has.

Good job the volume on LSE is so much higher then!

As the PGM split % varies dependent on the feedstock into Inyoni, as Clowney supposedly doesn't see my posts anymore (haha), maybe someone might like to ask him how he knows that the overall basket price is down as he claims? We know that the split depends on the feedstock; from WHI in December '21: "We understand there is a difference in the prill split in the ore processed (the volume % of the various PGMs in the ore) between Inyoni, Inyoni tails, Windsor and Windsor 8. This is mostly dependent upon whether the chrome ore processed (or previously processed) comes from the MG or LG layers in the Bushveld complex (Figure 17. We choose to assume that these differences are averaged out given the various sources of supply that Jubilee have access to, and we assume, therefore, the standard split seen above in Table 6, based on our understanding of the content of material processed by Jubilee. The split will change depending on the changes in material processed – but we believe our split to be a good representation of that produced by Jubilee.
Some of the chrome tails from the eastern limb of the Bushveld contain a little bit more rhodium than in the west. We choose to ignore this small variation in production as we have no way of tracking the actual chrome tailings mix processed at Inyoni.
So how can Clowney know for a fact? He/she is just too keen to rain on any parade to be genuine.

An interesting view of the potential future price and market dynamics from Nick Snowdon of Goldman's; skipping the adverts helps! https://podcasts.apple.com/gb/podcast/why-copper-may-be-one-of-the-tightest-markets-the/id1056200096?i=1000564501284
Key takeaways:
2022 – Current production is 24 million tonnes
– non-green demand – ie standard uses of copper – 22.5 mill tonnes
– green demand = EV batteries, charging infra etc – 1.5 million tonnes
2025 – predict the green demand to grow to 3 million tonnes
2030 – further green growth to 7 million tonnes, so green demand will reach 20% of overall demand
Expectation therefore is of copper at $15K/t in the next 2 to 3 years
No shortage of copper in earth crust but not enough investment to get it out
Why? Not one new major copper mine has been permitted in the last 2 years
Constraint to investment due to the history from the 2000s boom and bust – v conservative approach to copper mine investment
ESG implications of mining putting investors off
2-3 years to get a permit now to mine – Chile is about the worst place to try to get permits
Dearth of young people going into mining so a shortage of entrants to the market and labour shortages
There is no real substitution competition from a practical point of view; Aluminium requires far more metal to get the same conductivity which constrains its use and Al is also in constraint from a production perspective
Could $15,000 be conservative? Absolutely
When you look at the price curve of Lithium, Goldman’s don’t rule out that Copper could trade at $50,000 - $100,000.

Gray1, to quote LP Hartley: "The past is a foreign country; they do things differently there." People who keep harping back to the time when JLP was struggling to survive and issued paper to do so need to get their heads out.... As for the present, given what the company has had to contend with as a result of the supply chain disruption of COVID, Leon and the team have worked miracles and should be roundly applauded for their achievments. As current performance is impacted by both planned downtime for the Inyoni upgrade and COVID, that the numbers may or may not be less than the previous period matters not one jot to me and to most serious investors with a long term view. It does matter to those seeking a short term profit by whatever means they can. As for the future, that is where the Golden Goose lives, and why todays numbers are to a great extent immaterial. The current Quick Ration for JLP is 1.62... and therefore I have no concerns about operations and every confidence in the future given recent developments.

Gray1, the only people interested in the now are traders.

If only that meant we didn't have to hear from the troll again.....

Clowney..you were trying to major on there being an issue of equity. I on the other hand was saying there is no reason why the expansion cannot be financed from operations. That can include term finance leveraging the balance sheet.

You used the word FACTS, Clowney... what are they then? As we do not know the costs associated with those developments you CANNOT know the facts. Please stop lying.

Graham.... "Ollie has worked mainly for larger companies and could have little experience of fundraising on projects / companies of this size" if that were the case why would they have taken him on? Your logic is flawed. They have maintained the relationship with Colin as a Special Advisor, ie he is external to the company, for his political contacts and experience operating in Africa. After all, those are what have enabled JLP to get to where it is today.

Graham, Colin is no longer in a position to direct any aspect of the running of Jubilee - none.

Ruling out the possibiity of an equity raise FOR THE RIGHT REASONS would be simply foolish. You STATE: "The facts are clear, the Eastern limb expansion and Northern copper strategy requires more money than JLP has/generates. " What Facts? You are making **** up again, Clowney! YOU HAVE NO FACTS.

The company is not valued on its short term profits; the market factors everything. What is worrying you about it? They will be what they will be but you can be sure the investment will reap rich rewards and provide many, many multiples of returns. Leon has a demonstrable track record of finding ways to repurpose the previous capital investment of other companies, reducing JLPs costs and allowing a quicker time to market. Your worrying won't achieve anything.

Well spottedSM... clealry you are right.

Sorry, HDS43, you can still trade cum-divi until 15th June on LSE so no reason why that would drop the price. They also announced 6 monthly figures... EBITDA US$111.3 m, Down 10.4 % ...may not have helped. On another note, TW thinks anyone thinking that a new broker signals an imminent placing is getting it totally wrong. Sees Berenberg as a change of the old order to the new and that new IIs attracted by our new chairman onboard would expect to deal with an organisation like that rather than the bucket shops of old, even though the bucket shops are still onboard for the moment. Also that IF there were to be a placing it would be for a MAJOR acquisition and would be done with IIs at market price and not discounted. Still very bullish and expecting a rerate.

I thought you were only in your 40s Froggy... :) I read a lot of people venting ....does it really make you feel better being negative about your large investment on a BB? @HDS43..."Looking at the other platinum players today they up over 5% yet we are down again!" THS is down by an almost exact same %... so no, not all. Trying to judge JLP against PLT miners is missing the point... we have a unique multi-metals business that is more effcient than any other in its sub-sector. T/O today was approx. 3 million shares... so thats all small investors with high expectations and a trader mentality turning over cash because they believe they can make more elsewhere in the short term. Chance is they will lose..but everyone thinks they can trade don't they. Barring a major market-wide catastrophe we are on the cusp of a whole new revenue stream ramping up to produce tens of millions of dollars more per year than when we were just a PGM player. And with a new big hitting chairman the propsects must be much stronger than they were. Do you really think a man of his pedigree is going to join a business of this size unless he can see it a major opportunity? Of course not... So why doesn't everyone stop feeding off the negativity and watch the next few months unfold. I am absolutely sure we are in for an interesting time and a re-rate once the numbers start to feed through.

I agree, carnivalpete, there is no fathoming why people always want to interpret things ina negaitve light whene there is no justification to. Re trades, the market makers have an agenda based upon orders, which we have no sight of. They play on the psychology of the herd...so the bid/ask often doesn't reflect the real market, only what they want punters to perceive it to be to suit the MMs trade requirements.

Quite a muted reaction from you, Jack? Your thoughts on our new men?

Interesting too that Peet van Coller used to be Head of Division, Finance, at the Nkomati Nickel mine, one of the biggest in SA: https://www.miningweekly.com/print-version/construction-company-on-track-with-tailings-pipeline-for-mpumalanga-nickel-mine-2018-01-19

Well, he seems like a pretty good man for the job! https://www.linkedin.com/in/ollie-oliveira-09809678/#experience
About
I am currently an independent non-executive director of Vale SA and coordinator of its Audit Committee . My professional qualifications are in economics, finance and accounting , being a graduate Chartered Accountant as well as a Chartered Management Accountant. I have over 45 years experience in business and have held executive director positions in corporate finance ,strategy and operations.
In early 2008 I took early retirement from my position as an executive director of De Beers and spent 10 years running my own consultancy as a corporate strategy advisor and as a private equity investor and advisor. I retired from Greengrove Capital LLP in 2018 and thereafter substantially reduced my workload outside of the non -executive director positions.
I was a member of the Board of Antofagasta plc (ANTO:LSE) for 10 years ( 2011-2021) as well as its Senior Independent director ("SID" ) for 5 years ; a former NED of Blackrock World Mining Trust plc ; a former NED and SID of Polymetal International plc (2018-2022) as well as a NED of Dominion Diamond Corp. .
I have been an executive board director of companies quoted in South Africa and Switzerland and a non-executive director of listed entities on other major world bourses ( NYSE,TSX,LSE, and HK).I have been a member and Chairman of Board committees covering the whole spectrum of governance bodies.
My interest and focus as an executive has been on strategy, new business development and M&A and my last executive position was Executive Director of Strategy and Corporate Finance in De Beers SA.
As a non-executive director my passion , beyond highest standards in governance , is using my experience in assisting management in enhancing TSR and in particular improving the quality of the project evaluation and approval process.