Member Info for Jonah58

Thanks for posting the link MH. Can't say that I have a lot of faith in charting but let's hope they're right! I find the wide fluctuations in the PoP on a daily basis quite puzzling. It can't be anything to do with supply and demand over such a short time frame. Is it something to do with ETFs?

Good points, BB,only the PoP is now $985, Rhodium above $5000 and palladium still going up! There does appear to be a seller, hence the suppressed Sp. Toobs mentioned Miton in a deleted post. That's the Miton who is second on the leader board, up 25% today, so it's investment is hardly being seen as a headwind. These small fluctuations on low volume are unlikely to mean too much. I'm topping up at these prices.

I smell a coypu, Toobs, but it's nothing to do with consultancy fees!

By the way, the Sp isn't spiralling down, not even with a very low pitch. I'm not sure how a price can spiral, actually.

PoP now 963. I agree the market is not impressed, but the current hike can only improve (markedly) our bottom line.

Hope the platinum drivers are still at work - it's just cracked $950...

Not sure how relevant the truck driver's strike is, Toobs. The Hernic stuff is on site (I think) and we have already shipped 60,000 + tonnes to Eland, so they should have enough to be going on with for the time being. Yes, there may be a hold up with third party ore to Windsor, but there is no shortage of tailings there.

Toob's points about Sylvania are interesting. I agree, the two companies are not strictly comparable (Sylvania being a lot further down the road and JLP having a more diversified portfolio), but Sylvania are showing what can be done and hopefully we can follow suit given enough time. I agree the eventual income from Hernic is going to drop dramatically, but not this year according to the RNSs. New build at DCM will involve capex, but it is a much smaller proposition than Hernic. I would really like to see third party ore contracts before that investment is made as the current stockpile wont last that long. (Is this a project where we could use the Riverfort facility?) In any event, when that stream is factored in our total production is not going to be a million miles away from Sylvania's, so I think the comparison is not completely unjustified.

And, as a follow up to my last post, I would like to point out that over the last year the price of platinum is up 18%, Palladium 64% and Rhodium 190%. This is happening at a time when we are about to double our production of PGMs, though I accept that the economics of the Northam deal is shrouded in mystery.

I do not expect the contents of this post, or any others I make, to be reflected in the share price. I just think the trend in price of PGMs is encouraging and it cheers me up. If the prices had dropped by similar amounts, would the share price have changed? I think so.

As a humble mathematician I am poorly qualified to speculate on the placing issue raised by Toobs and discussed by Moneyhawk. My impression from LCs presentations is that we are looking at partnerships with Majors in which we participate in rehabilitation and beneficiation of surface material. Indeed, we know the names of three majors who might be involved. Would a partnership involve the sort of huge capital expenditure Toobs is referring to?

With regards to the price of PGMs, it seems relevant that a company whose main product is PGM will propser if the price of those metals rises significantly (which it has done recently). Indeed, for major producers, the PoP is the prime driver for share price. In retrospect, would you not agree that it is slightly arrogant of you to tell me what I may and may not post?

I think you meant https://www.*irectorstal*inte*Views.com/qa-with-jubilee-metals-holdings-plc-sable-zinc-refinery-completion-lonjlp/412791445

fill in the gaps.

So, here's one of those highly unreliable back of envelop calculations, trying to estimate the impact of the current increases in PGM prices on our annual income.
Assumptions: Basket is Pt 65%, Pd 25%, Rhodium, 4% and no value attributed to gold, iridium and ruthenium.
Eland ramps up to 25,000 oz pgm per year. Our share is 60%. (complete guess, but we know it's more than 50%)
Smelting and refining accounts for 15% of the cost of producing pure metals.
Using these fiugures, it looks as though the hike in prices over the last 6 months amounts to approximately $3,000,000 INCREASE in our annual attributable earnings from Eland and Hernic.

Of course, it all depends on current prices for PGMs holding up.
Does anyone have a better estimate?

Yes, Charttopper. It's near its six month high, just as Eland is starting to produce. Palladium down a tad recently, but not much and, as TbT says, Rhodium at an all time high. Now we are a producer these figures wont be ignored by the market, so I've topped up. Hopefully the price will be maintained (as per most of the forecasts).

Leon looks very up-beat. Great interview.

Good RNS, but different from what I expected. Zinc concentrate and Vanadium now targeted for Q2 2020 with a new emphasis on copper from some secret source. No mention of zinc metal, but maybe that's an oversight. Need to check on volumes against previous RNSs.

TT and J1. Thank your for your thoughtful and courterous responses. A lot to think about here. I do have a holding in JLP, so may wait a short while pending news on the SML and offtake agreement. Thanks again.

of having a small dabble here. Can any of you knowledgeable posters tell me whether the proposed income, at current prices, refers to zinc metal or zinc concentrate, which is what Sable will be producing initially?

https://ukinvestormagazine.co.uk/jubilee-metals-spike-in-h1-revenues-and-projects-soon-operational/

But where is the copper feed coming from?

Nice to see JLP active on Twitter today. They linked to this article.

https://www.miningmx.com/trending/37862-jubilee-metals-ready-to-add-zinc-and-other-metals-to-growing-output-of-chrome-pgms/

Not sure about the chrome, but remember we are producing a PGM concentrate. This still has to be smelted and then refined before it can be sold as PGM (metal).

I think the figures are good, but the market is looking beyond them.

There is a lot that remains unsaid, and all these projects have a limited life. There will be disappointment at the delay in getting Eland up and running (what is our share of that going to be?). Unit costs have gone up at Hernic (when will our reduction of attributable earnings cut in?). DCM fine chrome is doing well but how much more material is there left to process (what is happening to the PGM rich material there, and is there any news of third party ore to keep the ship floating?)
The bit I liked most is the 'accelerated' time lines at Kabwe which has the potontial to be a longer term project. Interesting that we are gearing up to toll process copper too.

Galileo RNS. Not very exciting. Just reporting that BMR now hold approx 5% in lieu of Kabwe etc.