Member Info for Mikiesunday

Yep im 100% behind Dorfy. The board need to put shareholders first now. Especially now they are all substantial shareholders, courtesy of shareholders.

I was going to ask your opinion Dorf. You are better placed than anyone to comment. I very much like the clarity Neal Reynolds bought to Jubilee. We are seeing a fuller picture for the first time. A shame he has gone. But these options need explaining, especially on the back of the last 3 years performance.

Dru, i believe in recent years only the resolution results are reported.

However, shareholders that are present usually give a fairly accurate run down of events. Last year was very much about what is happening! What direction was the company taking. There is clearly a plan and much needed direction now. So for me its all about shareholder value now. Shareholders have supported the company for some time now. Its now time for the company to support shareholders. I will be very vocal, and no doubt our co share holders present will be too.

Cavey, its in the 160 odd page report issued yesterday, which in fact was extremely useful and crystal clear. Yes, they were issued to the two MD’s and the CFO. Leon has taken part as well. You have to incentivise senior staff, but a strike price of 6-8p would have been more appropriate encouraging value for shareholders. You can see why some large shareholders have become disgruntled. There needs to be a change of attitude at board level now. Shareholder value now has to come first. The current attitude has nearly sunk the share price. I’m hoping realisation has set in with the cash purchase of project G. This must be reinforced at the AGM.

Northern, what do you think to the options? Seems like the 2 MD’s and Neil all been given 8M at a strike price of 1p. They need to be rewarded, but the strike price seems a tad low! Leon too. Think this should be raised at the AGM. With copper 2 years late, seems a tad generous? Presume Neals will now be nul and void?

Pub next door afterwards Northern?

Sounds great Northern.

Chester, Ever, Northern. Meeting early again? Coffee?

Thats great Chester, look forward to seeing you again.

Crikey, thats going to take some reading! Who’s going to the AGM?

Indeed Frog, circumstances have played out well.

Frog, all i ever hear you say is i am adding again? Have you topped Slater yet?

Seems really strange Seis, specially as i am sitting on a fairly large holding, that i hope it stays low for another 7-10 days. I would like to make one more purchase. All be it a small purchase, but long term could make a big difference. As i feel when the selling pressure stops, this is going to have a big bounce and rapidly.

Dorf, your 100% right. There has certainly been a falling out with some large shareholders. Fidelity have considerably reduced their position but appear to have seen the light. Maybe they sold all their 5.5p placing shares, banked a profit and are now waiting for the next gain? Jupiter seem hell bent on selling at any price! Short term volatility equals long term gain, the basic rule of higher risk investing. Some see this as disaster, some as an opportunity. I am certainly in the opportunity camp. The fundamentals are once again off the hook here and im buying what i can.

Northern, initially i was dis-heartened by the sellers. More recently i’ve come to accept this as an opportunity. i dont think we will see this price again! Once the big sellers are finished, this will jump. Almost a perfect storm taking the share price down. Volume is clearly increasing with expectation of delivery. You are very right, there is much news to come. Whilst i dont think the first quarter is going to be a game changer in isolation, i feel each quarter as they roll by is going to show much improvement and before long we will have a game changer, that warrants an all time high share price.

Pay as you go baby!! Well done Leon & Co. Finally the rewards of all the hard work and investment seems to be coming to fruition! What a pleasant surprise snd so much more to come. As Leon said on the Roast, there is a potential of 300kt per year from the SSM sector. I wonder just how much , Leon expects to grab of that over the next few years. Another 300-350 tonnes per month in 6 months time! With additional feed in December. Its now very obvious to see, just how the growth is going to occur within the SSM sector. Mine by mine and then module by module!! News on the large waste project next please.

That is a very valid point Northern and may be the real driver here.

@ Northern and Seis,

Thank you for the replies. It does look like they are trying to keep both in profit. The overall numbers are largely in line with expectations, however i was hoping EBITDA was going to be slightly bigger than last year. Although when EBITDA is compared to the market cap its incredibly low between 5 and 6 times.

Hi Northern,

Thanks very much for your input, its greatly appreciated and i look forward to a few beers at the AGM. I was very disappointed in the chrome margin, especially after the quarter 2 figures that were released.

What impact would this have " Note 4: Certain operating costs were re-allocated between two of Jubilee's PGM operating plants and two Inyoni chrome processing plants to more accurately reflect the costs for each operation in relation to output. The costs re-allocated amounted to US$9.9 million (FY2023: US$4.3 million). " What are your thoughts on this and the impact to the margin?

It must be a great time to accumulate PGM assets. Seis. They have deep enough pockets to sit on them for some time.