Member Info for Jonah58

https://www.dir ector stalk interviews.com/jubilee-metals-group-extraordinary-growth-just-the-foundations-interview/412956316?utm_source=mailpoet&utm_medium=email&utm_campaign=new-interviews-available_1

Shorn. Use the link 09.39 replace the asterisks by 'd i rectors talkin terviews', but leave out the spaces!

Not being one to look a gift elephant up the trunk, even though that involves a degree of risk taking, I added a few more yesterday. Mikie's elephants are a bit tired and taking a well earned breather, but they gave a glint in the eye.

Keep it up Mikie. Yes, it is a tad rampy, but hugely entertaining, totally without malice and based on strong fundamentals., not pie in the sky wishful thinking.

Etype and Trumps. The shares sols by LC and CB wre newly issued shares in lieu of salary they did not receive when the company was short of cash. The shares were issued and immediately sold to an, as yet, unknown institutional investor for 13p each. In addition, CB sold the shares he owned personally. In the webcast, both were at pains to point out that they have plenty of options/warrants left and thus have a financial interest in the future of the company. It's up to you whether you take this at face value, but I do.

As has been pointed out - the retrace is most likely due to traders taking some profit, and why not? We are still massively up over the last few months. No problem taking a little breather now. I am buying a few more if this drops to 11p.

Adding to Moneyhawk's (always) useful comments. The original plan was to use Sable first to make a zinc concentrate, then zinc metal, then lead concentrate and then fit in vanadium. We do all this from the Kabwe tailings dump. The zinc and copper circuits share some components, so Leon is on record as saying we can switch easily from one to the other according to prevailing market trends.

The importance of zinc (optimally using material enriched from Star zinc) is that it the first stage of clearing up the monstrous pollution at Kabwe. Progress with this will not only save children's lives and improve quality of life for a large population, it will also go miles towards establishing our green credentials and ingratiate us with the Zambian government (both of which are sound financial objectives). I would go so far as to say we have a moral obligation to clean up that dump. I am looking forward to progress with zinc later this year, regardless of the differential prices of Zn and Cu.

Yes, Gshiv, agree. Multiple sells of 370,000 shares. Despite all this and the massive (for JLP) volume over the last three weeks, the Sp has stayed more or less at 13p. If someone had said four months ago that a new base of 13p would be established by January 2021 I would have accused them of wishful thinking!

As an aside, I have always found (and continue to find) this board courteous, respectful and informative. There was a poster called Kitchens whose style was a touch abrasive, but nobody took it too seriously and, in fact, Kitchens' predictions of gloom turned out to be correct, allowing a lot of LTHs who kept the faith (including me) to average down - so good for him/her!

Libero. I think CB has sold his shares. He still has skin in the game, though, and we should not deduce anything negative from the sale.

Agree Ray. It looks like the recent spate of sells were the directors shares, forward sold. The huge sells before that looked like BV with an unknown buyer. The volumes are about right. Seems very orderly. The pattern today is completely different. Suspect TW is pretty short of dough - brilliant!

Thanks Frog for your comment. Over the last two weeks two to three hundred million shares changed hands at the bid price. Let’s say 10% of the issued share capital of the company. Even if most of the buys over the same period were misreported as sell, the buys would come nowhere near mopping up the sells. If market makers find they are accumulating too much stock they drop the price and this has not happened.
Without a TR1 to confirm otherwise we must assume Bhargava still has about 5% of JLP. If he wanted to sell it to, say, Slater you would have thought they would agree a price, transfer share ownership and Slater writes a cheque. But if it happened on the market (in chunks to maintain orderliness) then each transaction would appear at the same price. In other words, half the sells at bid price are buys.
I put my hand up here. I am a mathematician but know little of how the market works and want to learn from more knowledgeable posters.

Hi Edzi. This is where my naivety about the way the market works shows up. Can the MMs buy shares on the market and sell them on off-market in private deals. I assume they can as there seems no other explanation for the black hole these shares are disappearing into.

Quote from broker note

"We see this as still only the start for Jubilee as we look forward to the first copper oxide concentrates from the Roan project in Zambia to the Sable Refinery –where the Roan plant is currently under construction. Once again we are struck by the speed at which Jubilee moves to advance its projects and, with its South African cash engine showing no signs of slowing down. Jubileecan choose to move its wider ambitions in Zambia forward from internally generated cash flow. On the back of the strong performance we put our forecasts under review."

Two other points.
1. I was interested to see we are trucking in concentrate from DCM. I had not realised that, but knew it was being considered.

2. They mention project Elephant and other projects (plural). So, yes, there is an additional project after Elephant 2 (Kitwe) in the pipeline.

ppd, a link usually appears on the website, but it takes a day or two. A quick read through bb2's summary below and you haven't missed much!

Happy43, we still have a seller. Multiple blocks of around 110,000 shares. Great that despite this, and yesterday's dilution we are still blue.

Not much in the Webcast from my point of view. A few early thoughts.

1. Lots of interest from other jurisdictions, but get Zambia up and running first. Once Zambia proved up, Australia was mentioned, though not this year and any new projects will be looked at very hard.
2. Problems with understanding chrome figures partly due to build up of stock in SA. Should become clearer with time!

3. Continued interest in Tjate with the increase in basket price of PGM. Will update market if discussions 'gain any traction'.

4. Zinc circuit to come online Q3 2021. Vanadium can be implemented quickly if current recovery in Vanadium price continues. No mention of lead, but very aware of our ESG credentials.

5. CB deeply committed to company, but aware he is getting older and will listen to what the board and shareholders say. I got the impression he was paving the way to bowing out.

6. No shortage of spare (mothballed) refining capacity for Cu and Co in Zambia.

Good points, gk and LUFC. Assuming all the 'placing' shenanigans occurred off-market, we have a huge dump of shares (or buy at a discount) to account for. Tens of millions (160 - 200 million) changed hands just before the RNS. I had assumed it was VB divesting further, but where are these shares now? Looking forward to some TR1s to help make sense of all this.

J.l Pos : Regarding the switching of expensive debt into equity I still believe is a good move for Jlp. It demonstrates that the holders of the debt believe that they will get better value by owning shares in Jlp and a better return than the interest they would receive.

But the holders of the debt don't own any shares (at least not yet). They sold them immediately to the institutional investors. I suppose you could ask why did ACAM agree to convert now if they believed the Sp had a lot further to go? As you say, we may find out more tomorrow, but I doubt it.

btw, Jammer, I quite liked your point about fine chrome. An enriched feed has to produce more pgm per tonne processed, and the order of magnitude of the uplift looks about right. What I would really like to hear about, however, is fine copper but I expect Leon is going to be very cagey about the details of that!

gk, I think it was copper cathode they sold, and top quality too. I seem to remember seeing pictures. Not sure how much though, or the margins.

Wasn't criticising Mikie, Shorn - quite the opposite. His predictions are by no means unreasonable, it's just the way he puts them that cheers me up. Virus must have got to my tactfulness suppression centre. Absolutely no offence intended.

Made me smile, Mikie. You make Rampy McRamp, the psychotic optimist from ultra-happyland look like Jeremiah the prophet on Prozac.

But you emphasise a good point that clearing the decks of debt contracted on unfavourable terms is a good platform for moving on. Us retail investors have done our job, but hopefully we are now here for the ride.

Also - thanks Jaxon for correcting me on the terms of the placing. The little grey cells don't work so quickly these days, but they get there in the end!

Jaxon. There is money coming into the company, by my calculation. 111,000,000 shares at 13p is about £14 million. Far more than the loan and any accrued salary. However, my understanding of these type of deals is poor and I stand to be corrected. For instance, who was the seller of the 200,000,000 shares yesterday and this morning and how does this fit in with the RNS?