Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Seis, i think Leon & Co, have stated they are sourcing more and more manufacturing in South Africa, so i would think its very likely there will be several manufacturers going forward. Lockdown was a big lesson here.
@ Seis, Gray & Hoke, with the almost immediate return achieved from a module. Once production has started, the ability to multiply, will ramp up significantly. The chrome business is now completely self funding and its not going to be long before copper is self funding. With far greater profits in copper and what appears to be a very supportive market, wheres the ceiling here over the next few years?
Edzi, i guess i am part of your Milieu!
Edzi, im fine and i hope you are too. My point is my percentage of the company is now set. So if they reduce the number of shares to get the EPS up, it makes no difference to me.
Edzi, EPS will be individually different, but combined they will be the same. In example at 14p you would have double the amount of EPS, but half as many. At 7p you would have half the earnings per share, but twice as many. Combined both would be the same and the percentage would be the same. So if Jubilee half the number of shares by way of consolidation any dividend i receive would be the same combined total.
Should be leave the market cap the same.
Edzi, I disagree. the amount of shares does not matter, its the market cap. If we have 3B shares at 7p or 1.5B shares at 14p its the same thing. Share consolidation wont change anything. A buyback is a different matter, this will reduce the shares in issue and the market cap.
Seis, Gray, Frog, i think the original plan was to send material from the waste rock project and M to Roan and Sable late this year when they come on line. With Artisanal and opportunistic feed being used to fill in while they were waiting for M and the IRH deal. I am guessing the small mine plan has evolved so much, they have realised this is an industry in itself and will fill Roan and Sable many times over for many years. Plus the small mines have the potential to be developed into bigger mines like M. I now think all material from IRH deal will go direct to market or be refined at Mopani. Jubilee will soon need more refining capacity and i believe the earnings will soon be there to support it.
HD, i dont think we will get financials now until the end of the trading year. I think the quarterly’s were just production figures, which was a tad disappointing, especially with chrome looking so good. Hopefully we hear shortly from the Roast boys shortly. I think they will bring matters up to date in Zambia.
HD, initially, in interview i think LC said the first module could be ready by June. I think this was rapidly changed to the end of the year. That was clearly too ambitous.
Chaps, remember the payment was to secure capacity, not start building. The manufacturer would very likely, otherwise take on other work, when we are ready to push the button. I believe each module is designed to suit the feed going through it. The initial stage was the test and design stage.
Thank you Frog, if you believe, you believe! Personally i feel 15-20p is too early, but look what happened previously. However this time i feel circumstances and time are on our side. Bar world war.
Frog, time scales, i guess are very individual. I have set myself a time scale of 3-5 years before i may start withdrawing, but i plan on leaving the majority. As i feel there could be a very tasty dividend. I do not foresee the company stop growing. There is too much ambition and too much opportunity, although i review this regularly. At present as you continually mock me, along with some others, i am very positive and will not change my view or belief.
Thank you Northern. There’s way too much doom and gloom around. We all live for a little hope and Jubilee certainly give me some hope. You do your research and no matter how much research you do, there are no guarantee’s. Ultimately we are in Leon’s hands and i firmly believe he is a winner. I am backing Leon to build a major here from very little. Sometimes it’s just written and my gut is telling me, this is one of those fairytales.
Edzi, i went to the last AGM and will be going to the next. You say you are not going to be rude, but you are very rude. False stop. In all your insults you still havent answered my question. You say the share price can get to 50!60p. So at that point they stop growing?
So, Edzi, Frog, if the share price gets to 50/60p, they stop growing do they?
Kalan, thats a good question and there has been suggestions, there is very little difference in the contained copper price. But we do get a premium for our cathode, which must make a difference. Plus i believe our cathode will be highly sought after, especially in western markets, with its lower carbon foot print. Im convinced it will be a premium product. Plus Chambishi will give a fairly substantial cobalt opportunity, which we know Leon has eyes on. If its going cheap, i dont think Leon will be able to turn it down, with the capacity to process 50k tonnes copper per year. That would really allow them to sign up some volume of small miners. But essentially no they dont need to, but i think Leon is too ambitious not to! Copper solution will be the key that opens this door.
Gray, whilst the market appears desperate for copper in solution, it would definitely justify the purchase of Chambishi fairly early on in the accumulation process of small miners. You can see why RBC are welcoming us aboard.
Gotreal, if they keep doing with copper as they are with chrome. Its not a question of if, its more a question of when?
Strangely Gray, when your doing well and in a hot sector, the market tends to reward you! With that level of success, i wouldnt be surprised to see a PE of 12 or even higher. Still lets get back to the here and now.