Member Info for Kaiser_B

Personally, I can see Cyprus becoming an important cog in the wheel, because if we can blend concentrated ROM and concentrated tails/waste from all the satellite sites dotted around the Caerus Minerals portfolio into one central processing facility, much in the same way that we do both in South Africa/Zambia then it shows that we can up sticks and take our processes and IP anywhere in the world and process it better than others, reducing the need for further mining in certain metals/minerals for a while and cleans up and ensures that tailings are stored correctly in the future, hopefully preventing another vale style tailings dam failure occurring again.

And don't get me started on the Cobalt side of the business yet, especially with the DRC's child labour problems a serious issue for both investors and manufacturers moving forward.

I am hopeful that if someone sees something wrong

Let's get back to the matter at hand, hopefully we have seen the back of one negative voice and can get back to decent, fair and reasonable debate here.

As a certain someone says, there is a possibility of dilution, but as JLP positive says, not all dilution is bad dilution. If it is value accretive, if it gives us for example a MUCH better percentage term in terms of final profit/revenue, then that is good dilution, so long as it works obviously. Bad dilution is where shares are issued to keep a roof over your head and the lights on. We are past that point, in all seriousness, because we ARE making money at a pretty good rate and yes, basket prices may drop, but we are pretty broad in terms of the metals we CAN produce, with other processes in the pipeline, just waiting for the right price to be achieved. Also whilst we are in the case, basket prices can also rise too. You plan for the worst and then if it is better than that, then that is a win win all round.

Personally I do feel like with the upgrades at Inyoni will have disturbed the chain and amount of PGM's that we produced over the last 6 months abit and that despite us hitting our target, I do feel that with Inyoni expanding the PGM circuit processing to 75,000 tons a month and with Inyoni benefitting from the fine chrome circuit and expanded/better chrome facilities to make use of blended chrome streams that make their way to I yoni from the satellite sites, that the 75,000 tons of PGM processing should generate a considerable upside in terms of PGM production now that it is all commissioned and it wouldn't surprise me if we see an increased level of production for the amount of PGM's that we produce over the next 12 months.

Additionally, on other good news, in the last 6 months, we have basically doubled our chrome processing at the satellite sites and Inyoni itself, so that should give us a boost in terms of chrome produced and sold moving forward and hopefully will minimise the amount of processing that the PGM side needs, because the vast majority of the chrome will have been removed and then with the additional fine chrome extraction, it will hopefully remove any potential charges, for example in terms of a chrome penalty for someone when they smelt our PGM's, as there will hopefully only be trace amounts, like the PGM's from a none UG stream.

I am hopeful here of getting as much money in to Jubilee as I possibly can, especially whilst it is at these levels and hopefully with Project Roan only starting full production this month, the full copper results will be evident in 6 months time, giving me another 6 months to buy these shares as cheaply as possible, before it shoots upwards.

Continues on next thread.

Again bushy, you are completely missing the point.

I will simplify it for you. HUM has 400 million shares in issue and a price of 13.15p for a market cap of 51 million from 1 producing asset with at current production levels, 2 years life of mine. Yes, that can be extended, but you paid out 11.5 million dollars in 6 months for that and firming up another asset.

You say that the bank has lent you the money to fund the amount you need to get your 51% of the mine sorted out, but what about the other 49%? Your JV partner has to fund that, but what if they don't? That's an uncertainty there.

There was illegal protests at your 1 producing asset, which could happen again in the future. Uncertainty there.

HUM is producing a lot of ounces of gold a year, for at best a 300-400 dollar profit per ounce on the unrealistically high AISC, but what if the gold price drops back down to $1,700 an ounce, you will be making at best 200-300 an ounce. Yes, it is supposition, but you specialise in that, so I will do the same here.

If there was no uncertainty, you might have a higher OE ratio, which would lead to a higher Market Cap and therefore a higher share price on the current number of shares in issue, but you don't. Your PE ratio is 3.286, Jubilee's is 8.757. Even if your PE ratio was the same as Jubilee's, your market cap still wouldn't be anywhere near Jubilee's, as it would be at £135,912,051.10. So either Jubilee is doing something really right or HUM is doing something really wrong!

I suspect that it is a bit of both in reality.

Bushy, yet even with 2.5 billion shares in issue, Jubilee's share price is 15.85p and Hummingbird's is 13.15p. Go figure hey! ;)

Also anyone can go on investopedia. com and pull something off that makes them look like they know what they are on about! ;)

Bushy,

We shall try this again. Can your directors issue up to TWO THIRDS the shares in the company after having it passed at the AGM? Yes they can.

Are you using the fact that Jubilee passed a resolution to issue shares up to an amount as justification for you saying that they will be doing a placing of up to 150 million? Yes, you are.

Are you saying that Hummingbird who passed a resolution of up to TWO THIRDS of the shares in the company can be issued, means that a placing isn't going to happen? Yes, you are.

Now, please can you quantify your comments please, because if both companies CAN issue shares as passed at the AGM of both companies, does that both companies can or certainly will issue shares?

Bushy,

If you are going to come at me with absolute boulderdash, you better make sure that your company isn't proposing the same resolution, but by a possible even larger amount of shares.

As I have said, a reasoned debate is back and forth, with you spouting your reasons for basically telling people to sell here, with your oracle knowledge on the premise that the board passed a resolution that can allow then to issue shares, but fail to appreciate that pretty much every company does that, especially when in a development or growth phase, even your mighty company.

So you better find some better stuff, as you clearly are losing this debate BADLY.

Bushy, Bushy, Bushy.

Perhaps you should read resolution 8 of Hummingbird Resources in its entirety.

Ordinary resolution 8: Grant of authority to the Directors to allot Ordinary Shares This resolution deals with the directors’ authority to allot Relevant Securities (as defined in the notes to this resolution) in accordance with section 551 of the Companies Act 2006 (the “Act”). This resolution will, if passed, authorise the directors to allot: a. in relation to a pre-emptive rights issue only, equity securities (as defined by section 560 of the Act) up to a maximum nominal amount of £2,382,856, which represents approximately two thirds of the Company’s issued Ordinary Shares (excluding treasury shares) as at 26 May 2021. This maximum is reduced by the nominal amount of any Relevant Securities allotted under paragraph 4b; b. in any other case, Relevant Securities up to a maximum nominal amount of £1,191,428 which represents approximately one third of the Company’s issued Ordinary Shares (excluding treasury shares) as at 26 May 2021. This maximum is reduced by the nominal amount of any equity securities allotted under paragraph 4a in excess of £1,191,428. Therefore, the maximum nominal amount of Relevant Securities (including equity securities) which may be allotted under this resolution is £2,382,856. As at close of business on 26 May 2021, the Company did not hold any treasury shares. This authority replaces a similar authority passed at the Company’s last annual general meeting held on 26 June 2020 and will expire on the date which is 18 months after the date on which the resolution is passed or, if earlier, the date of the next annual general meeting of the Company. The directors currently intend only to make use of this authority: (i) in connection with the grant of any options to the directors of the Company and employees of the Company’s group; and (ii) as may be necessary to manage the Company’s capital resources.

So Hummingbird Directors passed a resolution to increase the company shares by TWO THIRDS, excluding treasury shares, so by what you have said, surely you should be selling up ready for the definite placing that is coming Hummingbird Resources shareholders way.

Bonker99,

Has the share price dropped from 22p to it's current level of 13.15p in the last 3 months?

Was the majority of the message from the 3rd quarter results?

Was the AISC and profit from the 3rd quarter results?

Are you producing about 20koz a quarter and is your current resource 164.2koz meaning an approx 2 year life of mine at the moment, without expansion.

Also you state that you need to fund 51% of the new mine and it is about 100 million, which means that 51 million is needed and on 5-10 million a quarter, how are you going to fund the amount you need for it?

Bonker99,

What is wrong about it? Just curious.

Bushy,

Here you go resolution 5 in it's entirety.

Jubilee Metals Group Plc (Incorporated and registered in England and Wales under company registration number 04459850) Share code on AIM: JLP • ISIN: GB0031852162 •

Ordinary Resolution 5 That the Directors be generally and unconditionally authorised, pursuant to and in accordance with Section 551 of the Companies Act 2006 of the United Kingdom (“the Act”), in substitution for all previous powers granted to them thereunder, (but without prejudice to the continuing power of the Directors pursuant to an offer or agreement made by the Company before the date this resolution is passed to allot Relevant Securities (as defined below)): (i) to allot shares in the Company or grant rights, warrants or options to subscribe for, or convert any relevant security into shares in the Company (together “Relevant Securities”) up to an aggregate nominal amount of £ 3 644 488 representing approximately 15% of the total issued share capital of the Company, as at the last practicable date prior to the date of this notice, pursuant to arrangements made between the 2021 AGM and the 2022 AGM; and (ii) to exercise all the powers of the Company to allot and make offers to allot Relevant Securities up to an aggregate nominal amount £ 7 288 976 (representing approximately 30% of the total issued share capital of the Company, as at the last practicable date prior to the date of this notice); and such authority shall, unless previously renewed, extended, revoked or varied by the Company in general meeting, expire on the conclusion of the next Annual General Meeting of the Company or 31 December 2022 (whichever is earlier) provided that the Company may, at any time before such expiry, make an offer or enter into an agreement which would or might require Relevant Securities to be allotted after such expiry and the Directors may allot Relevant Securities pursuant to any such offer or agreement; as if the authority conferred hereby had not expired.

Where is that a 150 million placing? It says that they can issue shares, it doesn't say that they will.

Hey Bushy,

Why do we need a big placing? You haven't put why? You also haven't put your source for said placing or is it just gut instinct? If you are on about a placing, pray do tell how HUM are going to fund their 51% of a 100 million mine, given you are making about 262 dollars an ounce for the last quarter which is about 5 million dollars profit a quarter. ;)

As for the loan, if they choose to dilute and it is a value accreditive effort, I couldn't care less. Yes, it isn't what I would want, but if that supposed 150 million brings the company to a billion pound market cap from where it is now. I make double my money from here, where is the issue with that?

Also you still are passing off opinion or thought as fact and I am still awaiting a link or you to debunk anything I have put about HUM or Jubilee, so crack on there.

I might have posted on the HUM page for your thoughts on there, let's see how you do there! ;)

Seen as Bushy has been posting recommending HUM on the JLP website, I thought I would nip over and ask why anyone would invest here?

I only ask as the share price in HUM has gone from a spike up to 22p to it's current 13.10p in less than 3 MONTHS.

Here's an extract from Hum 3rd quarter results.

Q3 2021 updates:

Gold poured: 22,102 ounces ("oz") of gold poured in Q3 2021 (Q2 2021: 24,494 oz)

Gold sold: 22,255 oz of gold sold in Q3 2021 at an average realised price of US$1,782 per oz (Q2 2021: 24,790 oz at an average realised price of US$1,802).

All in Sustaining Cost ('AISC'): US$1,520 per oz for Q3 2021 (Q2 2021: US$1,386 per oz), the increase being due to lower production quarter on quarter ("QoQ")

Lower gold production QoQ

Continued investment in exploration and expansion capex developing future deposits of ~US$8.0 million, split ~US$4.4million at Yanfolila, Mali and ~US$3.6million at Kouroussa, Guinea

VAT payments of ~US$5.6 million and working capital movements, resulting in a net-debt, including gold inventory, of ~US$1.0 million

The highlights for me are as follows:

So an all in cost of $1,782 and selling at $1,520 so a profit of $262 on ounce of gold and even with the lower AISC and higher basket price from the second quarter you are making a profit of $416 an ounce produced.

Less production quarter on quarter.

8 million dollars on expansion and drilling in a quarter.

And your operating mine and source of income has a current life of mine of 2 years, based on your approx 20koz of gold per quarter and a mineral resource of 164.2koz, without expansion into other areas, which will need money spending on them.

And given the mines you have in development is going to cost HUM a minimum 51 million to develop, how are you going to fund the new mine?

Just curious ;)

That's me out of sbsw 24% in 14 days

Guess where those profits are going?

DYOR peeps, have a good weekend all.

Throwing good money after bad! ;)

Hey Bushy,

Please debunk what I have put then? If I am miles out, state why? Also please state why on earth I'd want to put any money into HUM, also why do you feel the need to post on a share that you aren't involved in, unless you are trying to drum up a means of reducing your losses in HUM? ;)

Basically, you haven't put ANYTHING to disprove my points at all and just stated that I will lose money, when my average is less than your JLP starting point.

I actually hoped for a reasonable debate with you as you are literally downright negative about Jubilee on the Jubilee chat site, which seems to me like you are either trying to state an argument or trying to coax others into something that you want them to do.

I hope that you read this and actually post facts in response, because that is what I have done and yet all you have done in return is say I am wrong without actually posting anything to show why I am wrong. Anyway, find me something that shows I am wrong and I will welcome that debate, until then, I may even nip over to the HUM chat page and tell people to choose JLP, as they will all be sitting on losses, as you are. ;)

Bushy,

It has already made me money, my average is actually lower than your 3p purchase, so......

At the end of the day, if you want to be taken seriously, post facts to back up what you are saying. Where does it suggest that the Elephants are dying out? Where does it suggest that Jubilee can't do what the BOD are saying that they can do? You post opinion and proclaim it to be fact without a single shred of evidence to back it up. I have stated facts in the difference in share price between Jubilee and Hum using charts on here, they are freely available for you to look at too to try to debunk my point, but you can't, so started saying that your average is 17p, which is a loss of 22.65%. Whether your Hum price is averaged at 17p or not, you are at the minute LOSING money, whether you choose to accept that or not it is fact. The share price in hum has gone from 22p to it's current 13.15p in less than 3 months and why is that?

An extract from Hum 3rd quarter results.

Q3 2021 updates:

Gold poured: 22,102 ounces ("oz") of gold poured in Q3 2021 (Q2 2021: 24,494 oz)

Gold sold: 22,255 oz of gold sold in Q3 2021 at an average realised price of US$1,782 per oz (Q2 2021: 24,790 oz at an average realised price of US$1,802).

All in Sustaining Cost ('AISC'): US$1,520 per oz for Q3 2021 (Q2 2021: US$1,386 per oz), the increase being due to lower production quarter on quarter ("QoQ")

Lower gold production QoQ

Continued investment in exploration and expansion capex developing future deposits of ~US$8.0 million, split ~US$4.4million at Yanfolila, Mali and ~US$3.6million at Kouroussa, Guinea

VAT payments of ~US$5.6 million and working capital movements, resulting in a net-debt, including gold inventory, of ~US$1.0 million

The highlights for me are as follows:

So an all in cost of $1,782 and selling at $1,520 so a profit of $262 on ounce of gold and even with the lower AISC and higher basket price from the second quarter you are making a profit of $416 an ounce produced.

Less production quarter on quarter.

8 million dollars on expansion and drilling in a quarter.

And your operating mine and source of income has a current life of mine of 2 years, based on your approx 20koz of gold per quarter and a mineral resource of 164.2koz, without expansion into other areas, which will need money spending on them.

Vs Jubilee

$21 million over 11 months at Inyoni,
Jubilee produced over a year 50k+ of PGM's at an adjusted all in cost of $537 with a PGM basket price per ounce of $2,248 for earnings of $1,687 per ounce produced.

We have got Sable up and running at contributing before Roan even gets started, let alone the elephants who have a proposed life for 25+ years.

I wonder which will get the best results and market cap moving forward?

SBSW have potential strike issues planned for their mines, so will you keep all those potential gains, if strike action happens?

As for SLP, they were oversold, so of course they were going to get a bounce, especially when combined with PGM prices rising. That is a given, but they still lack Jubilee in terms of technology and IP, with them still finalising and commissioning a fine chrome plant, which technology Jubilee has had for a number of years. Additionally Jubilee isn't far behind in terms of PGM's produced now and with copper production it could potentially be in a place to buy out SLP in the future or more likely merge the two companies into one massive company that way they aren't cutting off the other's nose to spite their faces with the tailings dumps/ROM efforts and combined they would be able to utilise the other's facilities and potentially be in a place to get their own smelter to smelt their own PGM's, as production would be in the 100 - 130koz range on a year by year basis.

Also I understand the fact the Jubilee didn't drop to levels in terms of the share price that SLP dropped to and that Jubilee bounced within a range has clearly eluded you.

As for CEY, they are a great business, but will need to spend a lot of money to progress the mines for the future, which means that the dividends might suffer moving forward, which may ultimately affect their share price and again they were oversold massively.

I do have a couple of questions for you, how has your other stock tip HUM done in the last 3 months in terms of percentage points loss or gain compared to Jubilee's 20%? ;)

If we go further back, say a year, how has HUM done compared to Jubilee?

Say we talk about the last 2 years? 3 years? 5 years?

Truth be told, if you had put your money in to Jubilee at pretty much any point in the last 5 years and not sold out, the last year aside with the spike up to 22p, into Jubilee, you would have made money. Aside from buying HUM at the right time and selling at the right time, you will have lost money in HUM. So before you stop spouting falsehoods and misinformation, perhaps you should go and get your own investment back on track. ;)

Also as for the elephants, there is some debate whether they can technically run or not, but considering they weigh about 5 tons, they can run faster than a human being and average African elephant life expectancy is 60-70 years, so...... A large, long life project that can move quickly when it needs to perfectly sums up Jubilee's elephants. ;)

Some key takeaways and thoughts from me from the presentation:

JLP cost of $537 per ounce and we don't have access to the Eastern Limb and richer Rhodium levels at this time. In comparison SLP have quoted $666 for 6e and $862 for 4e in the last quarter. That is a substantial saving for JLP in terms of cost per ounce produced.

The expansion on the Eastern limb will occur. They say that they are talking about it, but why aggressively persue ROM, dumps and tailings on the Eastern limb if they aren't going to make an 'Inyoni 2' processing site there. They aren't going to ship it all the way to Inyoni, are they? It will happen, it is just when and how it is financed that they will be sorting out and if Inyoni can produce 50,000 ounces on its own, what will Inyoni 2 produce on top of that? Could we have enough to make our own Smelter, either Conroast or traditional? Also if we do make our own smelter and it is Conroast, can we ship the Sulphuric Acid that is produced as a waste product from a Conroast smelter to Zambia, to aid copper production there? ;)

They are looking at more than 25,000 tons of Copper produced a year, which bodes well more forward. When you consider that Sable can be expanded to 25,000 from the 14,000 on its own and that the Mopani refinery can produce over 17,000 and can be expanded itself, we might be looking at 40-45,000 tons on just those 2 refineries and that doesn't include any other refineries in Zambia or the rest of the world that we might get on our books, either through MOU's with national entities like Mopani or through building them ourselves.

1 billion pound company? They are looking at Jubilee being a Billion pound company or on an approximate shares price of 41p a share. Well that just isn't big enough for me, think bigger Colin! Ha ha ha ha ha ha ha ha. Even right now with a really cheap P/E of 8.796 compared to Anglo American at 24.493 and Rio Tinto at 10.967. Once we get producing copper at the projected 31,000 tons, we will be at a billion pounds without the PGM side of the business and let's be fair, we will see our PGM ounces produced increase, which will then feed money back into our projects either in South Africa/Zambia or further afield for example in Cyprus.

Agricore,

I have an account with II, they take 10 quid a month from me regardless whether I trade or not, so I just use that for the trading costs. It is a bit crap, as it used to be a free account, but it is what it is.

As the DRC, using Jubilee's own picture from the copper operations, it looks like Project Roan is in the DRC, but we know that it will be processed at the Sable refinery in Zambia, so that might be how they get around that.

As for Chile, I was more thinking about Solgold who are on the verge of a tier 1 mining project, but will need funds and expertise to extract the full value, before BHP buy them out for a pittance.

I am more than happy with my investment here though, aside from wanting more Jubilee shares obviously, and I DO fully intend to keep adding shares here as and when I can.

Just completed a little top up of £110.21 for 735 shares at the unbelievable price of 14.994p a share. I never dreamt that it would go under 15p a share again, let alone let me buy at that price, but I am glad that it did as the more shares I have in this sleeping beauty, the better off I am once the world wakes up to the fact that Jubilee is going to be THE world leader in recovering metals, whether from ROM or tailings/wastes, etc.

Although I don't want it to happen, I believe that once we get up and running properly, we will disturb the market that much that a major WILL have to come and buy us out, but before then, we have lots of expansion possibilities, with Chile, Australia, DRC, to name but a few.

Personally, I love the global aspect of the business and once the copper from Roan is generating revenue and the upgrades at Inyoni play out, we might not even need further dilution, as those alone, should be enough to generate debt to get the Elephants and Cyprus going and then the world REALLY is our oyster.

The good news for me and deep down my less than secret hope, is we get left alone by the majors because we aren't going to be getting tier 1 projects going but by lumping together tier 2 and 3 projects, we might generate a small tier 1 project. For example Cyprus, individually the projects ARE exciting but they aren't going to interest Glencore or BHP, are they? Even putting ALL the projects together they wouldn't interest the bigs, but for a growing company like Jubilee they are perfect, we can take the ROM and wastes/tails and process them together and get great results, enabling further expansion of all companies involved and generating a sizeable amount of goodwill from the Cypriot government too, as it will mean that jobs/wages and taxes are spent in Cyprus that wouldn't normally be a part of the fabric of the country.

I personally can see Jubilee becoming the go to global partner for start up/currently running tier 2 and 3 miners for both their ROM and Tails/Wastes and hopefully the dividends will be flowing within the next 5 years, although expansion first and foremost for me.