Member Info for kieffy

Samancor named as preferred bidder in $42 mln Hernic acquisition Lawyers acting for Hernic Ferrochrome have named Samancor Chrome as the preferred bidder for the distressed South African chrome producer, in a deal worth an initial 500 million South African rand ($42.4 million). The company went into business rescue in September 2017 and indicative bids were submitted in December. The purchase price for the asset is an aggregate amount of 500 million rand for the business, plus net working capital and amounts owing to Hernic, according to documents published by its business rescue practitioners. The documents state that for illustrative purposes, based on management accounts up to December 31, the purchase price would amount to 1.74 billion rand. Samancor is already South Africa�s largest ferro-chrome producer, following its acquisitions of ASA Metals and the ferro-chrome producing arm of International Ferro Metals. The strengthening rand has been supporting South African ores and alloys prices for months, particularly ferro-chrome. Metal Bulletin's charge chrome index cif Shanghai was stable week on week at $1.03 per lb on Friday March 16, but up from $0.90 per lb at the start of the year. Hernic warned when it went into business rescue that it was likely to breach certain conditions of the credit facility, triggering a requirement to repay the full facility by April 1, 2018. Known claims against Hernic as of February 28, 2018 amounted to 3.63 billion rand, while its total assets amount to $3.55 billion, according to the documents. Hernic consists of three chrome ore mines, four ferro-chrome smelters, an ore benefication plant, a platinum group metals concentrator plant, a **** recovery plant and surface tailings. The asset produced 376,000 tonnes of ferro-chrome in the full year 2016. The acquisition of Hernic by Samancor is subject to competition authority approval in South Africa.

Kabwe will come straight into the hands of JMG, if and when this licenses is sorted out BMR will be JMG next target makes sense. This is my take on the how leon presented. Taken at face value and what's been said the board will increase along with BMR.

http://webcasting.brrmedia.co.uk/broadcast/5aafb10e8e43d12e0d13b129

Webcast need some explaining here, suckered in investors with a placing and down hill from there.

Dive and a webcast!!

Someone dumping shares over the last 3 days no shorts on this most interesting!!.

http://za.mercadojobs.com/ad/n2_civil_engineering_learnerships/1306852619

I think the time as come for the directors to buy in here to give this company the push in the right direction or a change at the top.

They have produce in 2 month the same as they produce in 6 months last year. 1.8 million debt left to pay off. when the market wakes up this SP price is very depressed.

https://audioboom.com/posts/6710752-harvest-minerals-hmi-jubilee-metals-group-jlp-and-anglo-pacific-group-apf

Good result to December's 2017, the web cast gave an insight to the coming year quarterly update should see more profit moving forward. Why would the hide Jan and February figures. More news coming.

Just picked this up from last months Zambian mines magazine, good read I think the BMR JLP JV was a move to justify keeping Kawbe open. This Licences should be reinstated. Government has been challenged to allow dormant mines to merge, to attract bigger capital investment and kick start viable mining activities. The calls come after government threatened to revoke mining licences from dormant mines. Victor Kalesha, Emerald and Semi-Precious Minerals Association of Zambia (ESMAZ) President said most mines have remained dormant because mine owners have wrong geological data which made them begin spending their capital on mining activities that did not yield anything. Kalesha said that in most of the dormant mines, minerals are not close to the surface while the land is rocky thereby requiring bigger mining equipment. �Government did not give us all this geological information. As such it is not our fault that we have remained dormant thus we are not going to allow government to revoke the mining licenses,� Kalesha said He called for government to dialogue with the mine owners for a solution to the problem instead of threatening to revoke their licenses. In addition, Kalusha suggested that government should also consider giving the small scale miners loans for them to hire mining equipment. However, Small Scale Miners Association of Zambia (SSMAZ) has welcomed government�s plans to revoke mining licenses from dormant mines. Kakoma Luneta, SSMAZ General Secretary said the move will enable government to give the licenses to investors who will utilize them. Luneta said proceeds from active mines will benefit government and the local people through taxes and creation of employment. Government has threatened to revoke mining licenses allocated to small scale mines that have remained dormant to pave way for those with capacity to engage in serious mining.

This is just tip of the iceberg, massive effect on this market time to regulate it. According to the indictment, the Beaufort Defendants opened brokerage accounts for their clients in the names of offshore shell companies with nominee shareholders and directors, and then conducted manipulative trading of stocks of U.S. publicly traded companies listed on U.S. over-the-counter exchanges. Beaufort Securities is then said to have facilitated at least ten �pump and dump� schemes involving U.S. publicly traded stocks, generating over $50 million in proceeds for its clients. Furthermore, between October 2017 and February 2018, Kyriacou, Aristos Aristodemou, the uncle of Kyriacou; and Matthew Green, the owner of an art gallery in London, United Kingdom, together with their co-conspirators, are said to have agreed to launder �6.7 million, the equivalent of over $9 million dollars, which the undercover agent represented to be the proceeds of securities fraud. Aristodemou allegedly said the art business was the �only market that is unregulated,� and that art was a profitable investment because of �money laundering.� The defendants are said to have proposed that the undercover agent could purchase from Green a painting by Pablo Picasso entitled �Personnages, Painted 11 April 1965,� and provided paperwork for the painting�s purchase. The money laundering scheme was halted prior to the transfer of ownership of the painting.

Colin Bird gives up is position in GLR, JPL moves on BMR who own shares in GLP this would then make JLP a real player, moving forward with ugly tailings left over from years of neglect puts them in in a favourable position with countries with similar problem lets hope they see this as a way forward.

Its time to move know 2 companies out there which would make JLP look a lot better and the use of the name Jubilee Metals group to bring in a wider base buy out BMR, and GLR.

How interesting how things work out, JLP announce they are going ahead with the Zambia BMR jv early, then the licences revoked, getting ahead of the game and coming out with more than they started with. Jubilee Metals Group plc notes the further announcement made today by BMR Group plc ("BMR") confirming that, further to its announcement earlier today, BMR now understands that it has the right of appeal against the Mining Cadastre Department of Zambia termination notice for 30 days from 6 February 2018. Jubilee will support BMR to favourably conclude this process. My view BMR share holders not going to be happy with the final out come.

OHANNESBURG (miningweekly.com) � Aim- and AltX-listed Jubilee Metals� metals recovery division has achieved across-the-board growth during the fourth quarter of 2017. Hernic�s operational earnings increased by 94% quarter-on-quarter to �970 000, while project revenue increased by 33% to �2.05-million. Advertisement �Our Hernic operation has continued to deliver significant operational improvements quarter-on-quarter, this despite the budgeted increased maintenance and operational slowdown over the festive period,� said CEO Leon Coetzer. The unit cost per platinum-group metal (PGM) ounce produced reduced to $382 during the fourth quarter, down from $476 in the third quarter. Advertisement Hernic�s PGM production increased by 33%, from 2 874 oz in the third quarter of the year, to 3 755 oz in the fourth quarter. During the quarter under review, the revenue of the Jubilee Processing Limited (JPL) operations increased by 24% quarter-on-quarter to �3.3-million and operational earnings were up 43% to �1.22-million. �We have implemented necessary process upgrades at our Dilokong chrome mine operations to allow for a more flexible operation to expand the processing of third-party material,� he said. The company�s due diligence on the Kabwe project is also progressing well, with the second round of leach tests concluded, confirming the high recoverability of the lead, zinc and vanadium contained in the surface resource.

Ranting on here about what should and should not goes no where, the aim is a risk understand this when investing in companies do your research then invest but remember the risk!!.

Must be reading a different Rns to some on this board. Hernic producing good figures Xmas shutdown expected. DCM will provide more support later this year. Good result.

You can sell 100000k no problem @ 3.43p what's going on?.