Firering Strategic Minerals: From explorer to producer. Watch the video here.
If the % are right then they offloaded approximately 40 million shares based on the issued share capital. Would explain the weakness in the share price, although somebody else would have had to pick up the slack.
I think the 7.78% previously advised was on a smaller issued base so it may not be as high as 40 million although 2% drop in shareholding is fairly significant number in a company with 2,3 Billion shares in issue
https://www.mining.com/copper-price-jumps-as-chile-close-its-borders/
FYI and GLA
Hi Shorn
I would also encourage you to look on the website at the gallery in particular the Kabwe-lead-zinc-vanadium one. You can see that even though Roan has been delayed Jlp is still producing copper cathode at the Sable Refinery.
Slp and Ths will always remain within the confines of PGM's imo as that is their knowledge and comfort zone. For Jlp, I truly believe the world is their oyster. With their 300 million odd tonnes of Copper tailing resources at their disposal, the trajectory and cashflow of this company will be far greater than any of the other two.
Least we not forget we still have zinc, lead and vanadium.
https://jubileemetalsgroup.com/kabwe-lead-zinc-vanadium-project-photo-gallery/#
@LUFC
HSBC Global Custody Nominee (UK) Ltd on Jubilee Website probably hold Sanford DeLand Asset Management shares - their shareholding is exactly the same as Sanford.
@Billyboy
Thank you for sharing part your conversation with Paul Smith.
I do believe that it may settle the nerves of some in here.
@ dorfan : I think that your passion for the Company is obvious and clearly you are here for the long haul.
Whether your pretax profit or Paul Smith's calculations are more correct will only be evident in July.
As I stated in earlier posts, I belief close outs etc at the end of March are more likely to be the cause of the SP falling (as well as a subdued market).
The sp will recover and imo exceed WHI's calculations and in the interim we wait.
I agree with OLS7. It is another good chance to buy in relatively cheaply. Jonah mentioned he was forced to sell 1/2 his holding and many others will also be selling due to the tax year end, quarter end and other unknown reasons.
It's short term pain for long term gain.
Fundamentals HAVEN'T changed.
ATB and happy Easter to those that celebrate and enjoy the long weekend to all those that don't. For me one day extra not watching the market will do me the world of good. @Mikie find a hobby the 4 days will seem a lifetime :)
Someone should ring WHI and speak to Paul Smith.
How much value can you place on his calculations when in his estimated 2022 year end he works out earnings per share based on weighted average shares in issue of 2,136 million shares in issue when there are already 2,242 million shares in issue and the chances of a share buyback is zero given the need for funds to complete Roan, Inyoni and Elephant.
This together with an estimated drop in earnings for 2H of 2021 makes me think that the figures are massaged to achieve an anticipated result rather than a work of factual figures.
Paul Smith if you are reading, your comments would be appreciated.
Call a spade a spade. The H2 projected earnings as per WHI are completely wrong and will be shown to be wrong.
All else being equal in terms of production the price increase in commodities will result in a higher profit for JLP. Even if you want to strip out the 1.4m pounds earned from copper in the first quarter, earnings will be higher.
Having seen the February 2021 photo on JLP website showing copper plates, I personally believe that they have been taking in third party copper whilst building Roan. This too I believe will surprise on the upside.
I recall reading somewhere that the JV from Winsor will end at the end of June 2021.
GLA and make your own decisions.
JLPpositive
As most of the posts before this one have said the WHIreland's new broker's note is much more detailed and imo, very conservative which is to be expected. In order to attract new clients, their analysis needs to conservative enough to have a share price overperform their anticipated value. Nothing worse for them to value a Company at 30p and it falls short at 24p even though it is a huge improvement.
What also needs to be borne in mind is now that new institutions have entered JLP (between 9p and 13p), they are looking for consistant share price movement not huge spikes and dips (unlike individuals who just want the price to rocket through the roof). As their reporting dates are usually March, June, Sept and Dec, I personally don't believe today will be a day for huge movement upward given where most of the new institutions entered into the market. They have decent enough returns to show their investors at the current price . I would expect it to gradually increase until June (again institutions want to show that they made excellent choices in stock picks). Obviously better than expected results will cause big jumps (conversely bad news, dips).
Once Roan is fully commissioned and operating that is what we all expect to happen. Bigger jump in share price.
Lots to look forward to in the next few years
GLA and DYOR
Thanks supafix
I guess this is what you mean gilo - PS not relevant to JLP
Wall Street is on tenterhooks as the fallout from a hedge fund implosion that roiled the stock market Friday moves to its second trading day.
Traders will be “glued to their screens,” one portfolio manager told Bloomberg. Archegos Capital, the family office run by Bill Hwang that was pushed to liquidate, was forced to sell more than $20B of stocks on Friday after margin calls.
@ Ray
At the present moment I don't believe we have the capability. The Inyoni expansion which would assist with an extra 80k tonnes of chrome ore would certainly be necessary and that is only due to come online in H2 2021. Once we arr doing throughput of 250k tonnes per month it would be possible .
@ 3cardbrag
They advised that the Vanadium has been put on hold until the market commands better prices.
@LUFC
Definitely needs a lot more work. Regurgitated RNS plus adding "only the beginning" and "Jubilee has a compelling investment case based on growth" doesn't cut it imo.
WHIreland have issued a brokers note :
https://jubileemetalsgroup.com/broker-notes/
Find it here
Roan being delayed 6 weeks is the only bit of unknown news - which is regrettable but only delays the earnings. No actual additional cost.
@Mikie - Afraid retirement has been postponed for six weeks mate .....
Oh well ........... Look forward to Summer in Europe now and the year end results .....
@ whowrotethis
Those that have ridden the Jubilee ride will no doubt see this as par for the course.
This share doesn't trade in isolation to the market or market forces. See it for what it is, not what you think it could be.
Back to my post of yesterday. Waiting for RNS to confirm my workings and my outlook for the share.
GLA and DYOR
I have to laugh when people post that the sp may be dropping because of possible bad news leaks or production cuts. Believe me that bad news travels a whole lot faster than good news and we would have heard it by now if it were so.
Lots of traders (and I include myself) bought additional shares in JLP to make a few quid as the price fluctuates.
People sell shares for profit and JLP is no different despite the potential. This share is significantly undervalued and I for one will keep adding to my overall position as a long term hold.
Just waiting on the RNS to confirm my workings and outlook. Forget the noise and focus on the fundamentals which have never looked better.
GLA and DYOR
@Homey
The expansion is taking place in a different area so there shouldn't be ant diruption.
Whilst you cannot compare Ferrochrome to Chrome ore prices directly, what is interesting is that in the Merafe JV with Glencore, Merafe's share of ferrochrome was 265kt for the year ended 30 December 2020. Just for the second half of 2020, Jubilee produced 319kt of chrome concentrate. Just giving you the numbers to compare the ore produced.
With the expansion of Inyoni this number in Jubilee would be expected to grow substantially and given the price increase in Ferrochrome (and chrome ore / concentrate) this price increase will likely be a significant number going forward for Jubilee's bottom line. Not bad for what is essentially a by-product of Jubilee's PGM's.
Looking forward to a week which hopefully contains an RNS full of anticipated good news.
Thanks Warren and Dorfan for the input and find.
GLA & DYOR