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@Homey
I think it is obvious what Dorfan is referring to, however only for JLP shareholders. For BMR shareholders. of which JLP is currently the biggest, it was a complete failure.
It gave JLP an entry in Zambia, into Copper and lead the Company to both acquiring Sable and all the copper tailings, not to mention the all lead, zinc and vanadium in the dump tailings at Kabwe.
Copper, trading at high prices is going to be a huge cash cow for Jubilee.
GLA & DYOR
https://www.news24.com/fin24/markets/money-live-20210810-6
Tharisa expects to report an increase of up to 134% in earnings per share for the financial year ended in September.
The platinum and chrome producer said it would report an increase of between 128% and 134% relative to the earnings of $ 16.2 cents per share in the previous financial year.
GLA & DYOR
LONDON, Nov. 24, 2021 /PRNewswire/ --The World Platinum Investment Council (WPIC) today publishes its Platinum Quarterly for the third quarter of 2021, with a revised forecast for 2021 and first forecast for 2022.
Global platinum demand for the total of automotive, jewellery and industrial applications in Q3'21 continued the positive year-on-year growth trend seen in the previous three quarters, however, negative investment demand and near record refined supply drove the market balance into a surplus of 592 koz this quarter. The forecast for 2021 is now revised to a surplus of 769 koz, while 2022 is forecast to see a surplus of 637 koz.
@northern
I asked myself the same question. It could have been included in the year end results. My conclusion, is that it is similar to all smaller Companies. Where they issue good newsbits, prior to a share issue or capital raising excercise and or bad news to follow, which is intended to soften the blow.
@Highly Geared
You and I both understand that the RNS needs unpacking. Does the general market?
@dorfan
I'm certainly not a seller. Just irritated that we waited for so long from the Company to give some sort of guidance and all LC could come up with was a rehash of information which the market ought to have known.
25k Copper expected a year earlier than previously thought, and Cyprus is bigger than initially anticipated are the biggest positives I can find out of the RNS. Like you say, no obvious negatives.
The South African market seems to like it.
GLA & DYOR
Rubbish RNS - Nothing new. No production info
@Welloil - I also saw that. To me it smells of CB's hand all the way, where neither Caerus or Bezant have the funds to progress the feasibility of the project to the mining side of their JV. So they will have 15% free ride on the profits Jubilee makes. From the tweets of CMRS, the amount could be sizable so I believe it will be a win win win situation even though Jubilee is the only one really at risk.
An RNS will come out soon. There is no doubt this one had to come out first so that Bezant and CMRS can hold onto the coat tails of Jubilee and Colin can crow in Bezant (and Jubilee I guess).
GLA and DYOR
It appears even the bad news is temporary when it comes to copper.
https://www.miningweekly.com/article/worlds-biggest-copper-trader-sees-weak-patch-ahead-2021-11-09
GLA & DYOR
Will have to be sometime this week if they want to have the AGM around 6 December, which it usually is held.
One of the main reasons I believe that selling ANY Jubilee shares at this stage is poor investment management :
https://www.mining.com/web/copper-discovery-cupboard-bare/
It is a superb article which everyone invested should read. It is long.
For the ones to busy to read the entire article I post the conclusion here :
Conclusion
Even with a 30% penetration of EVs, a relatively conservative estimate, we need to find another 20 million tonnes of copper per year over 20 years, i.e., 40 million tonnes by 2040, compared to the current global mined production of 20Mt.
A goal like that is not insurmountable, but it will take major investments in copper exploration, at a scale that has never before been attempted. Any copper junior with a deposit of significant size and grades, will have no problem attracting a major or mid-tier acquirer, that can help finance a future copper mine and bring it to commercial production.
GLA & DYOR
Welcome to the posters board Elguiri
I think I speak for the majority of us longer term investors here. We are not requesting that an RNS be announced every time LC or CB take a plane trip. We would like quarterly RNS updates which is the norm for the industry. It will also be constant and relatively relevant. As a Company growing remarkably quickly it helps to get exposure to other investors who know very little about the Company, which in turn helps the share price.
Yes the fundamentals will eventually pull the SP up, but a constant quarterly update will also help stabilise the share price in my opinion.
GL and DYOR
@sumo
Couldn't agree more with you
Well management seem to be unable to convince the market that we are not a mining company, so not sure how lack of information is going to enable Jubilee to demonstrate that Jubes is in fact a green Company.
The lack of information is disheartening. Let everyone know how loud the Elephants are trumpeting imo.
GLA & DYOR
The six months to June were an absolute record six months, way bigger than anything else. The average basket price for the six PGMs was about $3 200. In rand it was R43 700 for the six PGEs.
All that’s happened now in the six months leading up to December is, yes, you’re right, prices have fallen off between 20% and 30%, but we are going to experience the second-highest six-month period ever. We’re looking at $2 500 on the six PGEs, and in rand terms about R37 000. So if we relate the six months to this December compared to a year ago, we’re going to be well up; we’re going to be 20% up in dollars and about probably 9% up in rand.
So it’s the second-best six months ever.
Extract from today's discussion on Moneyweb :
https://www.moneyweb.co.za/moneyweb-podcasts/moneyweb-now/pgms-continue-under-pressure/
Whilst I agree with you MS, the quicker the rise the more volatile the share becomes, which plays right into the hands of the traders and timing of deals especially when money is being raised becomes critical. There is no reason why the money raised in the previous deal couldn't have been done at 18p or more.
I agree the fundamentals will drive the price higher over the medium term.
I agree, MS
All the larger Companies in the commodities sector, have production reports at least every quarter. I dare not say mining house because we are not that.
It is just GOOD CORPORATE GOVERNANCE to firstly show investors how the Company is faring and for the market to make calculated decisions where they want to invest their money. It is not only PI's that need this information.
For your info, GrahamW, most commentators on this board have been here for a LONG time and have no intention of selling at this point. So to say that we need our arses wiped is ridiculous at best, insulting at worst.
CMRS has issued an incredible RNS about Troulli in Cyprus (Yes, it mentions JLP in it). What would the harm be for JLP to issue an RNS saying something on it at the same time?
@Northern
“Jubilee is currently actively engaged in copper refining through its purpose-designed refinery at Kabwe. The zinc price has been extremely volatile and the zinc tailings at Kabwe may be metallurgically complex, giving way to copper production, being the best alternative to the refinery. Against the aforementioned, the Board has no expectation of any royalty income in the midterm”.
This information was in the 31 December 2020 Annual report of Kendricks, which was signed off by CB on 25 June 2021. I'm sure the only reason you mention it is because their AGM was this morning,
It has little bearing on current share price movement or mean that there is a change in direction of Jubilee. Being almost 1/3 shareholder in Kendricks, if it made monetary sense for Jubilee to bring zinc onstream, Jubilee would do it.
Since copper became the flavour of the world and JLP's huge strides in that direction, all available free time and resources in Zambia has been spent where the money is to be made. BMR shareholders were extremely ill treated (to use nice words), but that is of little concern to current JLP shareholders.
Jubilee has it's AGM around 6 December, they need to give shareholders 21 days notice so the information that we are all seeking will have to be released by 15 November. My guess the latest will be 11 November 2021.
It will eventually come, in the meantime we are completely at the mercy of the Board.
Would be nice if it come from the source.
Interesting close on the Johannesburg Stock Exchange and the AIM last night. Both significantly up from where they were trading.
GLA