Member Info for moneyhawk

He's probably posting under a new user name now, and will start posting some misunderstanding about preference shares, the JV company and profit sharing sooner or later. lol

Rosewall, yes it’s looking more likely than not now that the JV agreement could be on the Monday deadline. Leads to questions and uncertainty for why it’s taking so long if they could have dealt with it in 10 days after Monday. The thought has occurred to me that they didn’t expect the licence to be restored so quickly, and they weren’t completely ready to sign off the JV. Many other possibilities though, could be any number of things pushing it to the deadline.

https://www.shardcapital.com/blog/2018/04/19/3784/ A few more useful bits of info. DCM chrome to remain flat for next 2 quarters while the PGM circuit is built. After which production will accelerate for chrome and the addition of pgms.

Not great news, that’s a lot of extra shares being issued. But on the positive side, the directors hold about 30% of the company after those shares are admitted. The other major shareholder, Empire global, with 500m shares could have sold some from this month, and they haven’t. With empire included, that’s over 40% of the shares where if any were sold it would have to be declared.

Some recent news about the Maseve platinum mine being sold by Platinum Group Metals for $74m. http://www.platinumgroupmetals.net/investor-relations/news/press-releases/press-releases-details/2018/Platinum-Group-Metals-Ltd-Receives-Final-Government-Approval-For-Maseve-Mine-Sale/default.aspx A bit of digging around and I think that it was formally called "Western Bushveld Joint Venture (WBJV) Project 1 Platinum Mine" with 4.1m oz of platinum. Some details here: https://www.mining-technology.com/projects/western-bushveld-joint-venture-wbjv-project-1-platinum-mine/ The mine is developed and producing, but not meeting its production targets and making a loss. But at $74m for a 4.1m oz reserve, that makes the sale price roughly $18/oz The mine is developed and operational, but does not appear to have been hitting production

Bandit, agree with that. And the longer it drags on the stranger it looks. Surely they wouldn’t have made such a statement about a placing at 3p if they didn’t have some assurances that the nessesary investors were already in agreement. That said nothing would really surprise me after the licence revelations the day after the JV was agreed.

Interesting article MM, doesn’t look promising for tjate in the foreseeable future, but does help support the current strategy of pursuing low cost tailings over grander plans for deep mining.

That's a possibility, it was a little odd that they announced they anticipated a placing, rather than announcing a placing. Just have to wait and see what happens with that, but if the placing doesn't go through on the terms they have anticipated that shouldn't prevent the JV being formalised by the deadline.

Have to assume for now that there's no problem, all the terms have previously been agreed and it just needs signing off. Most likely that JLP are in no rush as the deadline isn't until next Monday, they know it will be signed off and they've been busy with other deals and at the investor show. But wouldn't surprise me if JLP are further negotiating some of the terms, neither would it surprise me if BMR announce that they've dispatched the signed documents by carrier pigeon and its gone astray lol

Agree, the future looks more promising than the SP performance suggests it is. Communication plays a big part, e.g. at Platcro everyone's been assuming that we have bought 1.4m tonnes of tailings, so with it being processed at 60,000 tonnes per month our tailings will give an income stream for just 2 years. But the presentation says we've also got future pgms at a rate of 12,000 tonnes per month extra, and that changes the earnings and longevity significantly, so I'm at a loss to understand why that hasn't been emphasised in the RNS and is instead put in a presentation.

For info, a JLP presentation. Most of its unrelated to BMR, but Kabwe gets a mention with a plan to commence plant construction in May and to take 5 months http://www.jubileemetalsgroup.com/investor/presentations/20180415%20Jubilee%20Presentation.pdf

Just seen this, makes for some good reading and a few extra details for our projects, some very promising including a bigger project than first appears for Platcro, and a plan for Tjate starting to emerge: http://www.jubileemetalsgroup.com/investor/presentations/20180415%20Jubilee%20Presentation.pdf Highlights: - Hernic pgm cost per oz $382 excluding one off costs; - 700,000 tonnes of enriched pgm material at DCM; - JLP has rights to all pgms from future mine production at DCM; - Platcro, rights to all pgms at surface AND future, growing at 12,000 tonnes per month. So it would appear that the tailings we purchased isn't as limited as we thought and its actually a longer term project; - Kabwe plant construction to commence in May and take 5 months; -Tjate mining target 2.4m tonnes per annum with 270,000 ox pgms; - Map at the start suggests multiple projects being targeted in south America

Some suggestions for your list - wouldn’t invest in a company that has warrants outstanding (Jlp has a lot of warrants outstanding); - holds millions of jlp shares to hold long term, 10-20 years been mentioned; - will sell Jlp if a placing is announced (Jlp have had numerous placing during claimed time as a holder) - is shorting Jlp through 3 brokerages to keep the price low so that bmr can’t raise funds? - along with millions of jlp shares and using 3 brokerages, claims holdings of a whopping £500 in a few other stocks LOL, have a good weekend all

CB is no stranger to diluting shareholders! But will be interesting to see if JLP maintain their % stake by taking part in the placing, or are willing to settle for a smaller % of an enlarged pie. Certainly dragging on though, I thought it'd be sorted by the end of this week. Hope we don't have to wait until the 30th April deadline and this isn't delaying any work needed to get the plant built on time.

Yes been a good news week, progress made on two fronts. DCM chrome not so good, looks like some kind of problem there, and hopefully just short term. But in the grand scheme of things that was never going to be the project to take Jlp to the next level, it’s fairly small scale in comparison to Hernic (and now Kabwe).

The original RNS for the tailings last year said they were in near trucking distance to Hernic, and they did mention at one stage that using Hernic was one of the options.

I don’t have much of an idea of the logistics and costs of moving the tailings. I’m assuming that jlp have done the sums and it works out cheaper than building a dedicated plant where the tailings are (could be a dangerous assumption!). But also has the advantage that it might lead to further projects with northam.

Difficult one, this is the kind of stock where an RNS could land one day showing decent profits finally being made, and the market cap is so low it won’t be surprising if those profits exceed the mcap with the sector box has moved into. But equally likely it’s just going to bumble along doing nothing or go out of business. I’m holding in the bottom draw for now and will see what happens, with fingers crossed!

Any thoughts about how we’re going to pay for transporting tailings? I’ve seen a few comments on the various forums that a placing might be needed. I don’t see why, the plan is to start moving them in June. By then Hernic debt should be fully paid off, so we’re well positioned to have to the cash flow to pay for it without any additional funding being needed.

Looks like they do indeed have tailings to be reprocessed for chrome and pgms: http://m.miningweekly.com/article/northam-initiates-r100m-tailings-retreatment-project-2017-08-28 Article from August 2017 says they’re working on chrome first, and pgm by March (2018). Interesting comment in the RNS that we’re looking at a partnership with them on processing chrome and pgms. Maybe the project they’ve already started isn’t getting as good results as Hernic and there’s a role for us to improve it, or maybe there’s further projects at their other mines?