Member Info for moneyhawk

Vig, always good to be optimistic, but when LC says some construction has already been started I think he just means a few concrete foundations have been laid. See pictures on JLPs website, there’s no plant there! There’s an awful lot to do, including ordering the plant that’ll be going on those foundations. Getting it built in an accelerated time frame is working to the conditions set out. I really can’t see it being in production before December, and the production figures will be poor until substantial improvements are made. http://www.jubileemetalsgroup.com/kabwe_detail.htm

Tbtt, don’t forget that JLP are also appointed as the contractor for the project. I’m assuming we’re not working for free or even on a cost basis, so there’ll be a profit element for JLP from the start. Also, there needs to be a big improvement quickly in the plant BMR have designed. 5t/ph just isn’t enough, even running 24/7 it’ll take getting on for 150years to process 6.4m tonnes. I’m sure JLP will understand what’s needed and get on with it, but priority for now is getting something running to meet the licence conditions. So not expecting any great production figures for sometime after the project starts producing.

I agree BB. If BMR goes up its a bonus for us, and much better than our investment being written off. I posted on the BMR board yesterday that CB taking part in the placing is possible, and fits with what he’s done before with some of his other directorships. I’m tempted to go into BMR as well, if Kabwe produces well it could be a good investment. But think I’ll wait to see what happens with the BoD and if the deadlines are met. Won’t invest there while they’ve got someone in charge who thinks claiming “rouge factors” is a good idea when they desperately need trust and cooperation to get a licence back.

Reading it again the 3p placing isn't confirmed, only that they anticipate announcing it shortly, and will then apply to come out of suspension. What happens if they can't get anyone to take part in the placing at 3p? If it happens and the share price is 3p on coming out of suspension, then great news, our 29% stake has increased in value by 50%.

I think they’re relieved to still be in business and their shares still have some value.

Like I said, maybe nothing to get excited about, but we can always hope there’s a nice surprise coming! And CB does seem to have been rather silent recently, working on a deal? Hopefully for us and not one of his other companies.

Perhaps nothing to get excited about just yet, but found this project listed https://www.l2b.co.za/Project/Tjate-Platinum-Limpopo/1462 I can't access the full details (need to subscribe to the site), but if you search for Tjate the following comes up, and the listing says it was updated 3rd April 2018. Could it be some work is going on in the background, and a project plan is being drawn up for mining at Tjate? The annual oz figure mentioned is lower than those previously given by JLP, so perhaps a slightly smaller and cheaper mine is being prepared for that makes it more realistic to get a JV partner on board? Extract from search results: "Development of Tjate Platinum mine with associated infrastructure, smelter and refinery near Steelpoort in the Limpopo Province. Jubilee Platinum is planning a new $400m platinum mine producing about 262,000 oz/year from its Tjate prospect in South Africa's western Bushveld. Project value: $510 million "

Don’t know if a buy out of BMR would be best at the moment. At current price it would cost around £4.5-5m to buy the 71% we don’t own. Probably a step to far while we’re still paying off Hernic for us to make a cash offer, which means it’ll be cash plus more JLP shares being used as payment. I think I’d rather see the next project being lined up instead of using any available cash on buying BMR. All of our current projects look like they’ll be progressed this year, so there’s nothing left in the pipeline for next year. Over the past few months we’ve had hints of a project involving copper, and yesterday LC mentioned there are several opportunities they’re looking at in Zambia.

I wonder if JLP hadn’t broken the news yesterday whether BMR would have said anything about the licence being restored? Their RNS didn’t exactly look planned, while we had an RNS out at 7am with LC doing a couple of interviews by lunchtime.

Promising signs it’s going to be another good day. Only another approx 1.5p to go and we’re back to where we were before we had the Kabwe deal! Strange still no word from BMR. The one and only reason for them going into suspension has been removed, and they appear in no rush. Surely they can’t have had another letter go missing in the post? Thank goodness LC is taking the lead on this or those new time scales in the licence conditions would never get met.

Yes, but if there ends up being double the number of shares then we’re looking at a 7-9p range :( But still good from where we are at the moment. And of course tjate could come back into play one day, which could change things dramatically.

Hard to say paddwah, and in a large part depends on how many shares are in issue at the time. We may have seen the end of placings to raise funds, but always possible based on JLPs past record. Mcap wise, I don’t think a valuation of £250m is out of the question. Using SLP as a benchmark, their PE is around 7, so we’d need to be showing profits of about £35m. Not impossible in the 5year timeframe, but someway to go yet.

vmax, aren't you thing of WRES who has a $35m loan. JLP have a $50m finance facility.

lol, yes the site does look well swept, maybe they spruced it up a bit for the photographs to show off the concrete in all its glory.

Just noticed, a new page has appeared for Kabwe on the JLP site: http://www.jubileemetalsgroup.com/kabwe_detail.htm It has some pictures too, its no wonder the Zambian government aren't impressed with the progress and didn't think any actual mining/processing would happen. There's some concrete foundations, but not much sign of any equipment. There is however what looks like a comfortable office building for the BMR executives to sit in whilst they marvel at their progress.

Looks like it'll take a bit of time for the SP to recover. Before we got involved with BMR the SP was around 4-4.5p, so we could do with several days of these kinds of rises to get back there. Hopefully the news flow coming up will push us past that, but there's going to be profit takers along the way.

LC on Vox markets now, with a bit more detail. Lead and Zinc to be first, Vanadium circuit to follow. He says BMR have done some of the ground work, but requires plant equipment to be ordered and constructed. LC also says the licence was revoked due to the execution readiness of the project, and the timeline between the licence being granted and the execution of the project. Also - very promising - states that JLP have identified a number of opportunities in Zambia, Kabwe is the first.

Good interview, team being sent to Zambia to start construction of the processing plant this month. Plant will be for lead, zinc and vanadium. Great news that it will include Vanadium, prices look to be heading up all the time and at a 5 year high. Platcro to be this year, and also DCM platinum. All looking very good. Meanwhile at BMR, still waiting for their assessment of the conditions. Perhaps someone has to go and pick up the post first, so it could be another month or so before they get their letter.

Yes that does look to be the case. Clearly BMR were in no rush to release the news and appear to have been caught off guard by JLP. Even stranger since the licence revocation was the basis they went into suspension. Could be further conditions as well that we’ve not been told of yet, and BMR aren’t happy with those. I doubt a condition requiring transfer of the licence could be imposed lawfully, but conditions dictating who has to be in control of the project could be possible? Might depend on how much BMR have annoyed the Zambians with their claims of foul play. I guess we’ll see when the JV gets finalised and if it’s still on the same terms.

Maybe JLP were notified first in case BMRs letter got lost in the post again. Lol