Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Extract of CMRS RNS today :
Caerus Mineral Resources plc ("Caerus Mineral Resources" or the "Company") is pleased to announce a proposed Placing (the "Placing") of up to 7.2M shares at a price of 20p per ordinary share (the "Placing Price") to raise ca. GBP 1.44M. A parallel Subscription of 300K shares to raise ca. GBP 60K has been completed with a single subscriber under the same Terms and Conditions as the Placing. For every 2 Placing and Subscription shares, a Warrant ("Warrant") will be issued, exercisable for two years from completion at a price of 30p per new Ordinary Share.
As with JLP, they need to raise capital and discounted the SP. Although they issued warrants at 30p, which indicates to me that they believe the JV's in Cyprus with BZT and JLP will go ahead.
GLA and DYOR
Load up these questions for the AGM in December and let's get the answers at the one time we have unfettered access to the the BoD.
We will never know how much the price in SP is being dragged down by the falling PGM basket price or by the dilution. IMO, it is irrelevant, what we need to know is what the figures now are projected going forward and detailed timelines of when each of the projects is now anticipated to come online and increase EPS.
The acquisitions add longevity, earnings and hopefully significantly shortening the timeline in achieving those increased earnings objectives.
GLA
@foxhead
Without trying to denigrate your post into a personal attack, if you merely looking at JLP's share price and chart to make your investment decisions, you probably should sell and look to invest in more mature companies.
Jubilee is still in its infancy with regard to growth and earnings and a little of patience is needed. The last two announcement made this month bear testament to that. The majority of us are here for the longer term and I challenge you to find another share with as much tangible potential as JLP.
Best of luck in your investment strategy. You know where you can find me.
GL & DYOR
@ chrismar
Will only be needed if the shares were issued to 1 entity. In order for a TR1 the buyer needs to hold 5% or more shares in the company.
Same applies if a holder goes from above 5% to below 5%.
Hope that helps
The fact that they were placed so quickly is a very good sign imo.
I would certainly like to know who the beneficiaries of the placing were ?
A placing of shares is never needed until it is needed/ Bottom line.
It remains the quickest and easiest way of raising capital.
As people have said before, it isn't to keep the lights on, so long term shareholders get to suck on the hind teat again. It's nothing we haven't been through before. It's also the reason why the share price is no longer at 2p. Those that bought in at higher prices do feel aggrieved, but LC hasn't yet done a bad deal and this doesn't feel or read like the first bad one either.
Couldn't have said it better Mikie.
Problem with a growing company is it is always cash hungry so no matter how much cash it is generating it ALWAYS needs more.
With so much on the go, re Eastern Limb, Cyprus, Zambia expansion, the £30M is really not a massive amount to raise for the value it will generate in the NEAR future.
Well at least those close to the Bird and WH Ireland will be making money.
Explains the reason for share price weakness to some extent, together with the falling platinum price.
Short term pain for long term gain. AGAIN
Personally I'm not too upset as Copper is undoubtedly the future and this transaction is VERY bullish in that respect for JLP.
GLA
The thorough programme of metallurgical test work being undertaken by Jubilee under the terms of the option Agreement, is progressing well and will continue to identify and optimise mineral processing options, leading to a blueprint for plant design.
The final details of a JV will be determined by the tonnage, grade and origin of feedstock to be delivered by Caerus to a Jubilee-designed processing plant.
Reads pretty nicely I would think.
Cyprus is good for the global image, new geographical location etc etc, and the bottom line.
Tbh I think CMRS & CB (Bezant) need Cyprus more than Jubilee. My opinion is to let CB look after the Northern Hemisphere atm and keep LC focused in the South. ATM, South is where the bulk of the money and bigger opportunities are.
GLA
@NtD
If there is any link up with Glencore it is not going to be with Mopani. JLP is basically cleaning up what Glencore has left behind in their dispute with the Zambian Government.
Glencore sold their interest to the Zambian Government for $1 plus the outstanding liabilities, which was roughly $2 billion which Glencore expects to receive by way of first option to the products coming out of Mopani.
They are thus not involved in this instance at all.
@ Homey
Thank you for your work done on the page 19 presentation and comments thereon.
What I find as interesting is that the presentation at the bottom of page 17 makes the following statement (even if it is WHI's estimation)
Analysts estimate at current metals prices copper revenue will exceed PGMs in 2022 calendar year (WHI Note)
• Analysts estimate copper revenue will exceed both PGM and Chrome in 2023 calendar year (WHI Note)
• Copper is a strategic asset: price has risen from $2.75/lb to +$4/lb
And all this prior to the Mopani mines link up.
Together with the poor jobs numbers out of the US, bodes well for commodities and those prepared to https://www.youtube.com/watch?v=P2BJUGJR5fw
GLA and DYOR
@ Shorn, Mikie and Sumo
Thanks for all the input and the share. I also believe once that Copper number comes through as a decent number, JLP will get a lot more recognition by way of share price. And going forward the bigger that number gets the bigger the number the share price will get. No Rocket science but rocket power in the making.
All about translating the promise into delivery - which is happening in front of our eyes. Patience is a virtue ........
GLA
Whilst the US markets keep rising the JLP share price (together with most commodities) will struggle to gain traction as money will be flowing into tech and retail stocks and out of commodities. Just my opinion. Payroll numbers tomorrow will be interesting.
Next week an announcement can be expected regarding Cyprus as their is a site meeting arranged. Whether it comes from Caerus Metals or JLP doesn't really matter. Expectation is that it will be favourable for a few JV's at least.
What we do need is more news and hopefully next week will be the start of news flowing. (I say that with tongue in cheek as we all know as a company news is generally scant). News on Cypress, Eastern Limb, Roan, New Copper methodology, Mufulira / Konkola, Zinc, list seems endless, please Leon pick at least one, a week.
GLA
Agreed on the move to main board. Sends a different message altogether.
Presentation does show timelines and gives quantities which is great.
GLA
Put's copper acceleration into perspective. Double the amount in virtually the same time.
Thanks for posting surprised
@ Mikie
I agree with you.
With regard to the article, I believe as an accountant as businessman, Zambian President Hakainde Hichilema, understands the economic situation of Zambia very well. Having defaulted on its debt, they will be eager to restore their credentials in the international world and try to encourage investors to create jobs in Zambia.
Let the mining companies run the mines , pay royalties and taxes and let the Government govern.
I'm really glad that Jubilee stuck their hands up early.
GLA
I think the history and recent buy out by the Zambian Government of the mine from Glencore are very pertinent to this deal. The mine was acquired by the Zambian Government for $1 plus 1.5 billion dollars worth of liabilities from Glencore. The debt is to be repaid from future sales and is unsecured.
According to the SENS announcement "The Agreement holds the benefit to Mopani to gain additional copper units for its smelting operations via a first right of refusal for off-take at market rates of copper sulphide concentrates produced by the Project, while all oxide associated copper will be refined by the Project to copper metal. In terms of the Zambian Government's agreement with Glencore, they will have the first right to sell the copper sulphide until their debt is repaid.
The Zambian Government benefit from not having people re-employed in a mine that has been shuttered, they get to pay off their inherited debt and make money all at the same time.
JLP get more of the historical assets that Glencore has left behind and clean up the environment whilst making money and being in partnership with the Zambian Government all at the same time.
There is no question in my mind that this is the second leg of something HUGE in Zambia.
From PGM tailing specialists in SA to specialists to Copper Kings in Zambia. Looking forward to the Midas Touch in Cyprus.
GLA
I do think they will stick to the Zinc timetable. What I was actually referring to is the impact that those commodities would make to JLP's future earnings