Member Info for Gray1

Homey,

As much as I dislike dilution and the ACAM deal I suppose it did help to get us into Copper earlier which could prove to be a good decision as long as they now monetise this and don't go chasing rainbows with more dilution making it even longer before we see a much higher sp.

Like you I don't believe ACAM will hold and then lend money to support another deal and therefore a double risk they will sell out or down to a holding they are more comfortable with. I await a TR1 with interest from them.

It was a crap deal but Jubilee were desperate at the time to get funding so I assume this was the best they could get c'est la vie it is history now.

It is highly unlikely ACAM will hold they never have before.

We now have another 200 million shares issued but no secured debt.

Still waiting for copper ramp up at Roan.

2.6 billion shares. We need 52 million net profit (not earnings) to achieve eps of 2. Pe of 8 to 10 is 16p to 20p share price.

This is a year of consolidation we are where we are. £52 million net profit may be a tough target after a poor initial 6 months. We shall see. I continue to hold and watch and accept 2022/23 financial year will be much better assuming copper output materialises.

Don't worry too much about market cap.

I expect eps of 1.8 to 2.0 using a pe ratio of 10 to 15 gives an sp of 18-30p. Assuming no dilution and copper finally delivers. Pe of 15 might be a bit ambitious looking at the current pe of 8 though lol.

A big gap I know but somewhere in between I will be happy with as I said previously a year of consolidation. The first 6 months are not going to be great as JLP have already stated that but expect them to make it up in the second half.

We will have to wait and see.

Whilst Bushytail does make some valid points costs will be up and the price of pgms have come off their considerable highs and both Inyoni and Roan have been delayed no matter what JLP claims are that they are on time. I see this year as a year of consolidation and not the big rises we have had in the past couple of years.

However Bushy lets himself down with some of his abusive remarks and ridiculous 8p forecast a lot would have to go wrong to see that price (although you can never discount the fickle nature of the market).

As for free cash flow and cash at hand I believe we will need pretty much all of that this year to progress the current projects maybe some spare cash for tailings acquisitions for Eastern Limb.

I don't see Caerus, Inyoni 2 or any new projects as yet to be identified being progressed in 2022 without either dilution or bank loans. 2023 should be much better with Roan on line, Elephant starting up and possible Cobalt coming into the equation then. Bushy factors none of this in.

Unlike Bushy I am invested and will watch the story of JLP unfold from the sidelines and wish everyone (including Bushy) a happy. healthy and prsperous new year.

I agree Mikie the financials can't be ignored forever.

Not posted for a while just been watching. Disappointed in the share price reaction from what was excellent results.

The DCM fiasco hasn't helped not because it is a small financial hit but because of the poor management communication of this issue. Communication is still a problem with JLP along with a persistent seller in the background and the unknown quantity of the new government plus worldwide events (Afghanistan, COVID etc) and the usual summer malaise has all probably affected the sp (although much more than I thought it would).

Is there something else in the background I don't know. What I do know is JLP posted almost £70 million earnings take off some tax and other bits and we are looking at around £60 million net profit. EPS of around 2.6 so we are trading on a pe of just over 5 ridiculous.

Next year I expect around 55k ounces of pgms at £1700 an ounce £90 to £95 million from pgms alone of earnings plus copper etc. Whilst we have significant outlay we also have significant cash income and a loan facility if needed so don't expect a cash call.

We also have around 200million of outstanding CLNs and warrants which could be a drag on sp which will have to be realised at some point.

Am I worried not in the least I shall sit back and wait for JLP to continue to deliver the numbers. Sentiment can easily turn especially on a company that continues to deliver.

Too many variables with this venture to attribute much value for JBL at the moment.

How much CAPEX required?
How will it be financed? (Surely no more dilution).
JV percentage?
Profit margin?
How much tailings is there?
What percentage CU and grams per ton of AU can be extracted?
Life of process?

We shall have to wait and see the outcome of the assessment to see how valuable it is to JBL and whether it is worthwhile. Nice to see some potential diversification from Africa though.

Back to school for me DNH and relearn my decimal point you are correct:)

It looks promising for us all Dore much better place now than where JLP were. JLP just need to keep delivering everything is in place with the prospect of more deals in the future.

0.1p means £20 million to payout. Do you think JLP could afford more than this at this moment in time? I don't think they can afford anything like his maybe in a 2 or 3 years at that point then you are right they would need to look at a balance between investment and returns to shareholders.

0.1p divi isn't going to get your money back Dore only sp growth will do that for you and it will be a while before you see £1 unless you have reduced your average price over the last 10 years.

I am not a fan of CB and his dilution but we are where we are and this time it looks like JLP have turned a corner and are about to provide a return.

Personally I don't want a div. Reinvest whilst commodities are rising. I want growth through the share price. Pay divis when the company has nothing better to do with the money at a later date. Maybe in another 3 years and yes I have been in JLP for a number of years now is the time to make some money through growth.

What is the point of a 0.1p divi which would take out £20 million out of the company at this important time.

It's all about the final numbers for this year and then next year. Share price will reflect these.

Communications aren't the best but they aren't the worst either.

An RNS would be nice regarding Roan and some more meat on the bones regarding timescales for the elephants and how they will be brought into play and ramped up. Otherwise patience is the key.

Happy to sit and wait for now GLA whatever your investment strategy is here:)

I knew what you meant Jammer £24 was even more conservative than WHI lol

The revised broker note was a much improved version of the first one.

Nothing wrong with WHI being on the conservative side I tend to err on that side too.

Good points made by both Billyboy and Dorfan. Just need to wait it out for the final figures maybe we will get a quarter update in April who knows.

Not bothered about the short term sp this is a journey and as WHI pointed out we are only at the beginning. Relax everyone and enjoy your Easter in these difficult times as best you can:)

Only telling us what we already know Sre.

I would have liked them to give us a final profit forecast range. What they believe the value of the company is? Prediction for final eps. Where they think the pe should sit in relation to other miners (even though we aren't). Potential for ethical share.

Most of us know and could have written what they did. Most of it copy and paste from RNS.

They need to get out of the shallow end and earn their money promoting the share. Just my opinion maybe JLP are too fast moving for them:)

Agree JLPpositive. Lazy broker note production there are more informative and knowledgeable posters on here:)

Delighted with £25.5 million profits. Double this gives at least 2p eps/pe of 10 to 15 sp of 20p to 30p.

30p would not be unreasonable for this for full year financials.

Not too worried about delay to Roan it will be up and running soon. Roan financed from cash flow is good. All in place only a matter of time until value is realised in the sp here:)

We currently have a pe of 16.4 based on LAST YEARS financials.

We know this years and next will be significantly better. Also we has a significantly increased PGMS price compared to last years financials.

So unless something has gone drastically wrong that we don't know about I suggest to sit back and chill and wait for the numbers GLA.