Member Info for moneyhawk

Whether gold is a ‘safe haven’ depends on your entry point imo, just like any other investment. If you’d bought back in sep 2011 armed with the knowledge that’s its safe, inflation proof, will always go up etc etc, you’d have just spent 9 years in the red waiting to recoup your losses.

Yes gold has risen, great for those who bought it up to a few weeks ago. I wouldn't describe it as 'safe' for new investors now though, potentially buying in at the top of a spike. Part of the rise of gold is a direct result of the dollar weakening. When the dollar strengthens, gold will fall irrespective of everything else going on that has contributed to the rise. The USA don't need to stop printing money for the dollar to strengthen. Its all relative to other currencies, with lots of potential for other currencies to be negatively affected in the near future as the pandemic progresses.

Trump opening his mouth today hasn’t helped, seems to think he can do away their election until their economy picks up. (In the guise of some nonsense about fraud from postal votes). Markets haven’t taken it well.

Yes I meant the SP spike following the licence. Held the view for quite a while now that Tjate is pretty much worthless to us in the short-medium term. Even with our forecasted earnings growth it's too expensive for us to develop, and deep level mining doesn't fit with our strategy of processing surface tailings or ROM material from others.

Difference this time around (if/when the SP gets back to that level) is that it'll be supported by a sound business model and actual earnings growth, rather than talk of CB getting on a plane to China to strike a deal.

At this rate we might even get back to the Tjate licence high in the not too distant future. Been a long time coming!

14:47 - I wonder what the lease payments would be like on half a billion acres? Glad we 'only' have half a million acres!

Going by what other countries have been doing so far, it would seem unlikely SA would go back into a full lockdown, they need to try an keep their economy afloat as much as everyone else. Maybe some localised lockdowns will be required, but hopefully our surface operations will be largely unaffected, after all they were deemed safe enough to reopen first time around before other parts of the mining industry.

I have little doubt a placing will come at some point, but whats the problem? If we need money to progress our projects and unlock the value under the ground, what are we supposed to do - a) not progress any projects, go no where and ultimately go bankrupt, or b) raise money to do something that will lead to greater value? I'd much prefer option b), option a) means we are all guaranteed to lose everything invested here.

Even Ftse100 companies have been known to carry out placings to raise funds, or make acquisitions using new shares being issued.

http://clients3.weblink.com.au/pdf/88E/02258013.pdf

Looking more promising, especially Peregrine - "farm-out discussions underway for drilling of two wells in 1H2021"

I guess that'd require drilling in Q1, results April onwards in Q2. If DW can pull that off, then the acquisition of XCD will have been very worthwhile.

Icewine looks like it'll be a while longer before any more drilling, Peregrine does sound like the more advanced of the two in terms of a farmout process.

Yes PGMs have had some good rises in the past few days, directly increases our bottom line, and at the moment the markets seem have turned bullish on pretty much everything.

Hopefully our rise will be sustained a while longer, the earnings growth we're showing justifies it, we just need market sentiment to stay with us.

20.58 - Yes not been posting that regularly, don't really have much to say while we're all in the dark about the future plans and the full results from Charlie 1.

Just waiting now to see how it all plays out with the XCD deal and what the next steps are. Hopefully we'll be able to have another shot next year.

Thanks Jammer.

Re glencore and the copper recovery, I bet Glencore were surprised, there was no mention of copper tailings in the deal, could imply that Glencore placed no value on the tailings they left behind and thought they were worthless. Maybe scope there for some further deals with Glencore with other tailings piles they have?

Thanks for the updates on this brom, hopefully it'll be settled soon. Will be a bonus if we can get rid of the loan repayments and have a bit of extra cash in the bank.

Unfortunately there are too many people that either believe covid-19 is a hoax or otherwise lack the capacity to understand the seriousness of the situation.

What that means for the rest of us is that the virus will linger in populations for longer and kill more due to the stupidity and selfishness of a few

No pandemic, really? So the the Government has made up 45k UK deaths so far? Governments across the world have put their populations into lockdown and deliberately wrecked their economies for no reason?

I suppose at least its a slightly more plausible conspiracy theory than saying 5G spreads it.

Well I'll certainly feel happier when a vaccine is found. Far from certain what the recovery rate is, but 578k deaths from 13.3m cases currently isn't a 99.9% recovery rate. And growing evidence that many of those that do 'recovery' have permanent lung damage or are developing other conditions such as diabetes.

Scary stuff really when you can catch it just by standing to close to someone. Its no wonder the markets jump up at every slightest indication there may be a vaccine ready within the next year.

I didn't invest here ever expecting dividends, plenty of solid FTSE100 companies that have decent yields if that's what you're looking for. With this kind of small cap miner, the intention is capital growth to see a return.

But looking at the growth in the last few sets of figures, the WHI note, and comparing to SLP, its looking more likely that it could happen. I'd say November/December 2022 to be penciled in as the first likely date for a dividend payment. WHI estimate the 2021 profit to be £45m, then 2022 at £56m. I'd expect most of the 2021 profit to be used up for capital outlay for current and additional projects. Our reporting year ends in June, with full year results normally released in November. Therefore, first dividend payment could be announced in November 2022 for year ending June 2022.

All looks to be going well, a good set of results in the circumstances.

PGM production looks on track to be circa 60k oz a year. From these figures its estimated we've lost the the equivalent of about 2 months production due to covid-19, so the production of 19.7k oz works out to roughly 5k oz per month.

A bit more info on the current copper production, 100 tonnes per month from our own tailings, and 100 tonnes per month from 3rd party ROM material, to be ramped up to 400 tonnes per month from 3rd party material during the next quarter

Also, an indication that the delay for Zinc isn't only covid-19 issues: "During the period Jubilee placed the zinc refinery construction on hold due to the restrictions on the supply of cross border services and uncertainty in market fundamentals."

So I remain of the view that we're going to have to see some stability and/or increase in zinc prices before we really see much progress with the Kabwe tailings.

Doing well today, now at a 12 month high.

Any evidence to support this stuff about the mining cadastre having concerns? Haven't seen an RNS that mentions it. But WHI don't seem to be flagging concerns about Kabwe or covid 19, they say:

"Jubilee has a high-margin business with cash on hand, and we see plenty of opportunities for Jubilee to capitalise on its robust business model through the global Covid-19 crisis and beyond."

https://jubileemetalsgroup.com/wp-content/uploads/2020/07/FN-JLP-080720.pdf