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Gotreal, if those posts are backed up with facts, then it is part and parcel of a free board. If I post thoughts or opinions, I state as much so that I am clear on the matter. Yes, I have posted what could be construed as negative or BOD bashing on here, especially in the aftermath of paying off all historic debt, BUT sometimes it pays to listen to a negative post and so what if Homey is posting disparaging and snipey comments. He is not as bad as another recent poster and I do feel on occasion that Homey has a point with his comments, not the supposed insulting or snipey ones, but if he wants to bash his investment that is his choice and there is nothing you or anyone else can do about it because, unless you uses ****** language, as a certain aforementioned poster did, it is a free speech board and whilst you might find it annoying, he is entitled to his point of view and to express it accordingly.
I couldn't and can't understand that either, especially with Jubilee able to extract such wealth from tailings let alone ROM.
I was looking to get back in to them once the problems ARE sorted out, but I really do worry about the Blackrock Loan being a massive drag on the company.
Whatever your opinion on the company, be it good or bad, we are all here to make money, some will do it by trading, some by holding long and possibly even averaging up to hold more, whatever the game, we are all here to make money. I don't care if people have a negative opinion of Jubilee, so long as they back it up with facts. Homey IS entitled to his opinion and on some points he is right. We were promised no more dilution, but we got more dilution. Yes, it cleared all the historic debt and yes it was known about debt, so technically no more NEW shares were issues, but it was still a dilution after no more dilution was supposed to happen and YES, we will be in a better place once we know WHO is taking over as Chairman, personally I hope it is a big name, but we shall see.
Additionally I agree with most of the rest of you. I think that we are on the cusp of becoming a billion+ pound company in short order and that this industry that we have in effect made our own will become one worth tens of billion pounds a year, and we might even see our share price towards a pound and over, without a consolidation, if we stay a company that doesn't get bought out for our tech and expertise.
However, regardless of what people say about the company, both good and bad, let's try to keep it civil this board is a good board, now a certain someone has left it alone and we should welcome ALL opinions because all opinions are valid.
If you want proof I went to an AGM of a little AIM company who mine tungsten in Spain. I listened to the Chairman and was throughly enthused by the sales pitch. Later on, I got chatting with a REALLY rich guy who was looking to invest in the company and the chairman was keen to have him on board, so the chairman wandered over and they began chatting and the rich guy was asking REALLY probing questions, such as what happens if this and what happens if that. It was stuff that I, honestly hadn't thought of, such as the weather and flooding, etc. We'd done a shed load of research and found out that flooding occurred on occasion. The chairman seemed non plussed by these questions and just said everything had a plan without really elaborating. Anyway, it rranspired that there was a lot of rain and the water dam flooded and prevented the company getting to the good ROM for a long time, efficiencies were terrible, etc and they didn't make anywhere near the levels they proposed they'd make. Luckily I had sold out of the company on a bit of a spike and made a bit of money, but not a whole lot for the amount of time I held those shares. The company in question is now on a suspension, so YES, both positive and negative posts and opinions are healthy for a company, so long as they are backed up by facts rather than just a negative effort trying to make something happen for your own gain.
Yep Jonah, it would be quite ironic if we went back to Smokey Hills after all this time, wouldn't it? In all honesty, it was the thing that brought me to Jubilee in the first place and been here ever since and yes that does include the Middleburg debarcle when we were looking potentially at selling power to the ESKOM, as for the due diligence, it would be nice to buy the entire of the Sail Group and get the mines and infrastructure outright, if cheap enough. We can then sell the mines to someone else and have them potentially mine it for us, under the proviso that the ROM and spoil goes through the Jubilee enhanced processing plant and we get the PGM material for ourselves. I only say this, as it means that we have more supplies to our processing plants on both limbs, as they have 2 mines on the Western Limb and one on the Eastern Limb and prevents us losing out on more supplies moving forward. Yes it will be a liability in terms of the balance sheet, but diversity of supply is needed for further expansion in SA. As for the transport of the sulphuric acid, I guess it depends on the concentration that we can achieve from the smelter and what we can transport it at and the level required for the 300 dollars per tonne. Say for example, if we can get 20% concentration straight off the bat and the 300 dollars a tonne is at 20% concentration, then it would make sense, if it was 20% and required a 100% concentration, then we'd have to refine it further and that might not be cost effective, but imagine if we got 20% concentration and only 5% concentration for it to make the copper sulphate and we could concentrate it to 100% for transport and then dilute it back to 5%, then it probably would make massive sense, the unknowns are the price that the sulphuric acid concentrate needs to be at for the 300 dollars a tonne or for making the copper sulphate or the costs for concentration for transport and transportation costs.
First off, I have been looking for care and maintenance sites with processing for Chrome over on the Eastern Limb for a while now and it wouldn't surprise me if we get the processing infrastructure at Smokey Hills mine, which has been under care and maintenance since about 2016. Those of us that have been here a long time will remember the proposed takeover of PLA, which at the time owned the Smokey Hills mine and infrastructure. The takeover RNS was in February 2013 and the cancellation of the takeover was in March 2014. Since then the mine has operated for a few months at a time by various entities as is currently owned by The Sail Group, but as far as I can see, it hasn't produced anything since 2016, which is a long time to be under care and maintenance and would be a massive liability on the Sail Group's balance sheet. It would be a brownfield site, so not adding further infrastructure to a greenfield site and if the Sail Group ever got the Smokey Hills mine or their assets run through a Jubilee Metals processing hub, they would be far better off and with them being a Chrome producer only, the synergistic nature of both businesses would be met.
Also and bear with me on this one, why don't we based on the Eastern Limb expansion for a further 20,000 ounces of PGM material make a small conroast smelter? A by-product of a conroast smelter is sulphuric acid, which is currently trading at 300 dollars a tonne, so we can either transport it to Sable or we can sell it to the market. I know that people will say, 44,000 ounces isn't enough PGM material to allow a smelter to be made, but why can't we make a conroast smelter and smelt our own PGM material and ANY excess smelting time can either be to smelt our own ferroalloys for sale to the market OR to take on other companies PGM material at a slightly discounted rate to the majors and produce even more PGM's for the market. With the Sulphuric acid by-product being sold or utilised for our own need, we would be producing little to no waste at all and we'd maximise the profits available to Jubilee and also we'd be maximising our ESG creditials.
Anyone else have any thoughts on these two thoughts?
Gotreal, It will rise in the short term as the market has priced in the loss of ounces available to the market, but like I said, if China and India buy their Platinum and Palladium direct from China, why would they need to use the London Metals Exchange for the majority that they need? Making a supply glut or the Chinese buy and trade the Russian Platinum and Palladium on the LME. It also means that if China and India buy the Russian Platinum and Palladium direct, it means that not as much is bought eventually on LME and let's be right about it, LME makes the market, but it still is run by buyers and sellers and who's to say that the Platinum and Palladium that in all likelihood China nd India purchases at a very probable discount won't be sold back into the market making the Chinese and Indians a very large profit?
Yes in the short term it will rise, but who buys the vast majority of the available Platinum and Palladium? Answer. The Chinese and India. Who aren't affected by or agree with the sanctions placed on Russia?
I think that people are missing the point of the increased sanctions/tariffs on Russian Platinum and Palladium. It will hit Russia, as the London Metal Exchange IS the biggest mining exchange on the planet, but in all likelihood, China will profit immeasurably from it, as they will probably import all the Platinum and Palladium at discounted rates that the Russians can and will sell them and they will probably give the Russians the option of payment in either Dollars or Yuan. The Russians will ask for Dollars in exchange the Platinum and Palladium, as they will want to avoid debt repayment issues and depleting their own dollar reserves held in the country, because they need dollars to pay for pretty much EVERYTHING, from Debt repayment to bombs and bullets and everything else that they need to prolong the voilence in the Ukraine and do you think the Chinese are going to the full amount, when the Chinese are taking the product that Russia can't really sell elsewhere or do you think the Chinese are going to give them pence in the pound equivalent prices. I state this as the Chinese, who actively condemn the Western sanctions, will state to the Russians that they run the risk of falling fowl of the Western worlds sanctions, so they will ask for and receive a massive discount on the prices that they pay for it.
This will in term of having the knock on effect of actually reducing the price of Platinum and Palladium as the Chinese won't be buying as much from SA and surpluses will arise there
Spot on mate, from 29% to 0.86% is a VERY steep reduction in terms of shareholdings, especiallyif they are utilising the royaltyas a means or resurrecting BMR under a different company. Like I said, it looks like Colin Bird raised BMR fron the ashes and is using Jubilee to fund ANOTHER entry point on to AIM.
Right I know the subject is there, but bear with me whilst I explain it. So I was looking through the RNS' out today and one was there for Kendrick Resources, about being admitted to the main market and a fundraise. So I look into it and look and behold the Chairman is none other than Colin Bird, so I look at the prospectus and on pages 5 and 7, there was a couple of things that caught my eye. Firstly Jubilee Metals was a shareholder and previous to the fundraise owned 29% of the company and secondly the 'new' company had a royalty right to Kabwe.
So correct me if I am wrong here, but didn't BMR own the royalty right to Kabwe and didn't Jubilee own 29% of that company when it folded.
It looks to me, as though Colin Bird has taken BMR public again, but under a different name and it leveraging the royalty as a means of raising the capital to bring the company through, as they quote a carrying value on the royalty on the Kabwe tailings project of 9.7 million pounds, again that is on page 7 of the prospectus.
Is it worth asking at the AGM, if the royalty is still extant on a folded company and surely if it wasn't extant, we should have had the rights to buy the royalty and not trade or change the name of an old company and then re-admit it to AIM.
You do realise that the Caerus RNS, is a particularly good one. Copper mines these days are using 0.4-0.6% of copper for ROM. The copper in Cyprus is over 0.61% and as high as 1.83% and open in ALL directions and potentially will end up linking 2 sites together into one big site and with ALL the waste/tails and other prospective sites around the area, it is not as you say a small project and who's to say that it won't become a multi-metals refinery like Sable is proposed to become, with Leon stating that he wants to expand the Eastern Europe. You quote 35 million as the cost of refinery and concentrator, but that will be 8 -12 months of gross profit from Roan alone and with South Africa feeding itself and growing steadily, that gives us 2 further areas of growth, ie Cyprus AND the Eastern Limb in South Africa, in the next year or so on top of what we are already undertaking with Zambia.
If we can do what we did with Hernic and get the money we spent back PLUS interest and then back to say a 50/50 split on profit, it makes sense to expand to Cyprus, especially with the gold on top of the copper being a nice little earner too.
I have a question for all the people here.
If we were named the investor into the Mopani mine and could bring along a miner to do the actual mining and we did the processing, but it cost dilution to the point of a 100% increase of the shares in issue, with NO discount in terms of share price, but we got all the ROM and spoil/tails/waste from Mopani and got to sell the processed copper anyway, we wanted, would you think that the dilution was worth it or not?
The article you are on about.
I really hope that his recommendation on both here and Hum to short Jubilee hasn't come back bite people in the ass, but I do hope that it has bit him on the ass, as after his negativity on here and telling people we were overvalued, etc, that he has learnt his lesson.
An excerpt from page 13, under the title of: Development Strategy, and further subtitle of: Road to production.
Surface Materials Plant construction:
Leverage of Jubilee Metals sector leading expertise to build processing plant to serve
operations across project hubs. CAPEX to be funded by Jubilee
Early cashflow access
Scope to target dump material for near term production and cash flow generation, providing lead time for hard rock development and returning further value to shareholder.
Mine plan development:
Joint venture with Bezant Resources
will build mine plan targeting
remnant and undiscovered
resources located across portfolio.
Drilling ongoing at Troulli,
Kokkinapetra & Anglisides.
Bezant resources will leverage
operating expertise to commence
construction with CAPEX and OPEX
funded by Bezant. Processing will be
done at JUBILEE plants.
So it looks like we will be building concentrators/plants in Cyprus then. I can't help but wonder if we will refine it ourselves by building a new refinery or whether we sell the concentrated effort to a refinery in Cyprus. I actually do want us to create a new refinery in Cyprus, because there are a few small companies that ate starting up in Cyprus, that would benefit from us treating their ROM and any tailings/waste at satellite sites, before transportation to a central refinery hub for refining. Especially if they split the costs that Jubilee gets back first between them, it would definitely be advantageous to any small copper exploration and potential production companies in Cyprus to join together and let us treat it all.
Just picked up another little top-up of 1,047 at 14.33p a share. I am genuinely surprised that I was able to get them so cheaply, but who am I to complain. There was always going to be a bit of a headwind from the Inyoni upgrade, the slight delay in copper production and with the clearance of the historical debt, but that just means that there is a better opportunity to top-up at these levels for those who believe in the company and of course, potentially for how long in terms of it staying around these levels.
I am fully aware that once we get Zambia underway properly and producing copper at Sable and the Northern strategy underway and Cyprus underway, which is ALOT for any company to get underway all at the same time, I personally think we will be at multiple levels of where we are now.
I can also see us processing all of Bezant/Caerus Cyprus ROM and tailings spoil, because we can do it better than most people and if we get them going, I can see big mining companies asking us to remove their liabilities from waste/tailings and us being a massive company in the next decade, as the world needs more metals and to do it MUCH more efficiently.