Member Info for Jonah58

I know everyone knows what's happening to the PGM basket price, but over the last month, just for emphasis, the price of palladium is up a tad, rhodium is still at unprecedented levels and Platinum, our major component, is up nearly 20%. This goes straight to the bottom line. People investing recently mainly on the basis of earnings potential will be licking their lips. If 13p looked cheap a month ago, what does it look like now?

Yes, Graham. I'd definitely go for a mothballed mine - preferably one with an incredibly well endowed neighbour I could burrow into if only I could pick up the license for that as well.

Good points (both) Homey. There is a whole host of options, warrants and, as you say, convertible loan notes that we will have to find buyers for going forwards. I hope some of them a re taken up by retail investors like us so that we do not become top heavy with ii's.
Also, as you say, we will inevitably be sending less material to Eland and probably none in the fullness of time. Capacity at Inyoni is shortly to be increased, however, and we will receive the full market value of any material we process ourselves that would previously have gone to Eland. We will need guidance from an updated broker report to try and finesse this calculation. (note: platinum having another great day today)

I am not a follower of TW, but those who are will have noticed a comment about a recent interview. I quote "Gold guru Ross Norman on where the precious metals are going this year. As a Jubilee Metals (JLP) shareholder his biggest call is the most exciting for me." Take it or leave it!

I'm quite happy with the price action here at the moment.

I expect quite a bit of it will be in the ocean, Dogb.

Your view is shared by almost all the analysts I've read, Bob. Of course there's more copper and people are looking to open up new mines, but that takes a lot of time and capital and nobody is predicting that the price of copper is going to fall any time soon from its currently high level. Even with increased recycling, there must be a run on copper (which is why I've doubled up with a punt on ARCM (dyor)). It seems extraordinary that we are asking the question, 'will there be enough copper for the green revolution?' Time will tell.

Spot on Scott. At least every exercise of options and issue of warrants chips away at the overhang. I just hope we don’t raise capital for some new project by issuing a whole lot more. At some stage, in the not too distant future, I want a dividend!

I don't think you are missing anything, gshiv. This share often drifts on no news and we won't be expecting anything earth shattering so soon after a director buy-in. Also, most mining stocks are down, the price of PGMs was easing (not today) and folk may be anticipating an overhang of 3 M shares if the senior employee wants to cash in his/her profit. What surprises me, actually, is how well the Sp is holding up at this new level.

I hope we get an RNS when Roan starts to deliver and there is this talk of a further copper project. We may hear something at any time about DCM if they can sort out the mess there. In other words, the pause in news won't last long and I can only see us moving forward in the medium term. I bought some more on the last dip!

Thanks Shiv for posting these figures. When the issue of copper first cropped up, I got the impression that it was going to share some of the processing capacity at Sable with zinc. In other words, the production line would be switched to produce one or the other (depending on market conditions) but not both simultaneously. Both processes involve electrowinning I believe. This would obviously affect your figures. I am now wondering if the delay in building and commissioning the zinc circuit (attributed to Covid related border issues) might also be related to a change of plan in which we aim to produce copper and zinc concurrently. Unfortunatley, I do not know enough about the detailed processes, so this may be a stupid suggestion.
Clearly, copper wins the day, but as I keep banging on, there is an issue of credibilty when it comes to the pollution at Kabwe.

Dipped my toe in here today. Just a small investment to add to my 'green' portfolio. I've been watching and researching for a couple of months. Fingers crossed!

Can’t get a live quote to buy from Hargreaves L this morning. They’ll take anything I’ve got off my hands

This issue was extensively discussed a few months ago, with some excellent posts. LC has made it clear that there is no question of developing Tjate on our own. It could be sold piecemeal, a few years ago there was talk of selling the Quatzhill farm to a neighbour (Anglo, I think) or it could be developed as a joint venture if the PoP stabilised at a high enough value. The idea with the most traction on this board, however, was the possibility of bundling it up with a (currently) uncommercial neighour to attract a buyer with a longer term view of PGMs (in other words, China). There were some comments by Leon which gave the impression that this was the preferred option and there may even have been some discussions. With the current surge in the basket price this is certainly not out of the question, but until we hear something less nebulous I will continue to atribute zero value to Tjate.

Thanks, Jam, for putting some meat on the sparse bone I posted earlier.

Mikie, I am sure there will be an increase in PGM production from SA but maybe not as much as recent posts suggest (excluding the intriguing one about DCM and Merula which is news to me). Inyoni is running to capacity, with material from Windsor going to Eland where we share the profits with Northam. Throughput at Inyoni should increase with the upgrade coming on line in April. However, the motivation to increase the chrome processing facilities is to increase the longevity of the project. In other words, more feed from processing ROM chrome ore will be offset to a degree by a reduced rate of processing the dwindling tailings. The figures are looking really good, but we need to keep our feet on the ground!

Hi Arthur. Not sure the directors are allowed to buy on the basis of imminent good news that nobody else knows about! I suspect they are buying on the basis of sound fundamentals, like the rest of us.

Good point, Shiv. The RNS, states that the 4,000,000 warrant shares "representing 0.18 % of the enlarged issued share capital of Jubilee, will be traded in the market and placed with institutional shareholders to satisfy on-going institutional demand."
I am not too sure how this works, but would not be surprised if they ended up in Jupiter's hands. At least, I hope something like this happens and they are not immediately sold off.

Quite correct, Smose. LC and CB are saying that their sells at 13p were to get Jupiter and Slater on board, and should in no way be interpreted as lack of faith in the company and they have just invested £50,000 + each of their own cash to back up the point. The message could not be clearer.

Thanks for the heads up, MH. Extremely interesting as you say!

Papa, I think the drop is multifactorial. It hasn't been huge. My screen is completely red except JLP. On top of this, there are undoubtedly some traders around who are profit taking - huge profits for some and I don't blame them. Any sell of precipitates a mini episode of mass hysteria too. Like you, I am thrilled that Leon spotted your posts and responded with an RNS.

Hi Gambler5 - you sound like my granfather! I, too, bought in in the Braemore days but my shares cost me 17p at the time, so your entry point of 3p was truly a fantastic deal. Can't recall them anywhere near that at the time. Glad you made a profit, though.

I do think our company has turned a corner thoughand whilst there will be ups and down, as witnessed by the recent share action, I don't think we should put too much emphasis on historical performance. It has been a frustrating share at times which is why it has been a traders dream ticket. Good to us in the blue today, whilst all around is a sea of red!

I think Moneyhawk has already made this point, but it is worth repeating. The total shares issued in the recent dilution represented 4.96% of the issued share capital. It therefore depends on the split between the old and new investors as to whether they are obliged to issue a TR1 at all. I suspect one will be forthcoming, but we don't know for sure. From the way Leon talked, I think it is safe to assume the new investor is at least of the status of Miton, Slater and Marlborough. So not Del and Rodney inc!