Member Info for moneyhawk

Wjmflp, just to point out that the timetable is roughly 3 days to get to the Seabee formations from the 25th, and 5-7 days to reach the Nanushuk. So that would be around 2nd-4th March for the Nanushuk.

With the time zone differences its still the 27th Alaska (as of 8.55 am GMT)

This bit from the RNS is probably important to understand the drilling timetable:

"State supervised inspection of the Blow Out Preventer system was completed on the 24th February"

The indication being that they couldn't proceed until that inspection, the timing of which may not have been completely within our control.

I agree with both points to a certain extent. Ultimately actual profit we make is the most important factor, after all costs, expenses, accounting norms etc.

I get the point about EBITDA. However, many accounting practices could also be described as accountants inventions and don't give a true indication of how the business is really doing. Deprecation shown in the accounts is never true deprecation, it will just be a figure arrived at from a pre-determined method. Such as a fixed % decrease each year, or a fixed amount based on the original cost and life expectancy of the asset. Impairments are another good example of an accountancy invention, as with deprecation, these aren't actual loses with cash flowing out, just a revaluation of an asset for accounting purposes.

At this stage we know that most (or all) surplus cash generated is going to be used for funding expansion/development of projects, so bottom line profit won't reflect what is actually happening. The most critical bits we need to know is whether the projects are generating surplus cash, and whether that surplus is enough to fund that expansion plus cover debt repayments and overall group costs.

Being able to demonstrate that the business is generating enough cash to service costs and debt repayments will make it easier to borrow to fund expansion, and that will be the key factor to reduce the risk of dilution in my opinion.

COP have announced the winners of their 2018 supplier recognition program.

http://www.conocophillips.com/news-media/story/conocophillips-announces-winners-of-2018-supplier-recognition-award-program/

Note the first winner, none other than Baker Hughes, and this is what COP said of them:

"Baker Hughes, a GE Company utilized methodical planning, early engagement, collaboration and its new steerable drilling liner system prototype to improve drilling performance and help ConocoPhillips deliver first oil at the Greater Mooses Tooth 1 drilling project in Alaska two-and-a-half months ahead of schedule."

Perhaps he'll talk about the progress that has been made in the past year, such as the revenue and earnings growth that has been achieved each quarter, the very low cost price per oz for PGMs, new fine chrome process in opperation, great aquistation of Platcro which will pay for itself in 2 years etc.

Fingers crossed that by the end of March he'll also be in a position to present some more detail on Kabwe with the earnings forecast for it.

The annual report published this week says (for Yukon):

"Conventional prospectivity will be matured on 3D seismic inversion data in the first half of 2019."

lol D45, I see you still like creating alternative versions of reality. A bit like when you kept trying to claim the conventional farmout process, which was started less than 8 months ago, has been going on for 2.5 years.

For the record I did not say icewine not flowing was better than a successful flowtest. I did point out that getting the technical data that industry experts would require to make an assessment was more important at this stage than just a flowtest.

Good to see a link posted to what's on linkedin, rather than a cryptic description ;)

I've never heard of this nonsense surrounding the origin of a commonly used term. It rather sounds like the nutty attempts currently being made to discredit historically important figures such as Churchill and Nelson. If this carry's on we'll end up seeing Bristol demolished and renamed because of its historical connections to the slave trade (which is actually supported by evidence rather than this thing about nitty gritty)

Not sure about that, I think the idea of Kabwe needing ore from Star Zinc was something cooked up by BMR to justify the purchase. It doesn't appear from anything that LC has said that we're going to need that ore. But it does add to the project as any spare plant capacity could be used for the star zinc ore. If that all happens, then win-win for both companies. GLR don't have to build their own plant and we increase our earnings from processing the material.

But before any of that happens, we need a plant built and GLR need to start mining!

eyesblue, the only one of the 3 I have a stake in that you list is here with JLP, so my view may be a bit biased! I see JLP going up a fair amount from where we are, primarily because of the earnings that are now being realised and the realistic potential for large increases to future earnings. Once it all plays out I see JLP being valued more on a P/E basis rather than a speculative potential value. I don't see the same happening for the other two.

I did hold a small stake in XTR for a while, but have now sold it. After I sold XTR I started paying more attention to the holdings Tiger Resources has (TIR), another CB company. Most of their investments are pretty small, so I don't pay too much attention to the values, what's of interest is what they sell. Tiger (and their subsidiary African Pioneer) hold all 3, but have reduced their holdings in XTR and GLR. On the other hand they have never reduced their holding in JLP since the first investment, and have actually added more through African Pioneer.

May not be a fool proof way of finding out which of the CB companies the man himself thinks is worth buying, holding or selling, but to me it looks like a good indication.

I assume that we'll be having the AGM sometime around April, and surely DW will be wanting to go to that with both FO news and winx results. He could have a somewhat uncomfortable time from investors if there's nothing positive to report by then.

So perhaps the end of Q1 timeframe is going to be a bit more rigid than last deadline.

Yes that's true. But given the whole licence fiasco at kabwe I wouldn't blame them if they are being cautious about announcing a deal without being completely certain they won't have egg on their faces for the second time in a year.

The current plans to 'fast track' kabwe appear to be dependent on Sable. How far off that is from happening is anyone's guess, and without it then we have to build a refinery from scratch.

Interesting change of wording on our processes between the November and February Presentations. In November it was described as Zinc and Lead refining, in the Feb presentation this had changed to Refinery (implying that we have a physical plant)

Perhaps just a typo, or perhaps an indication that its a done deal just waiting for whatever regulatory approval is needed.

For reference page 18 of the November Presentation:
http://jubileemetalsgroup.com/wp-content/uploads/2018/12/Jubilee-Metals-Group-Corporate-Presentation-Nov2018.pdf

Page 15 of the February Presentation:
http://jubileemetalsgroup.com/wp-content/uploads/2019/02/Jubilee-Metals-Group-Mining-Indaba-Presentation.pdf

A potential short term negative has occurred to me. We may be implementing the fine chrome process at Platcro already. Depending on how this is done it could mean we see a similar slow down as we saw at DCM, which could mean we don't see positive earnings from it this quarter, and may not see much at all until later in the year.

Although in the longer term this may be beneficial and lead to greater earnings in a quicker time frame, I hope this isn't the case. It would be better to see the impact and effectiveness first at DCM before rolling it out to Platcro.

All looks as expected from an initial scan through, no nasty surprises.

However, I'm none the wiser as to what's happening with the HRZ farmout though. On page 9 it talks about the farmout process starting in H2 - "Further evaluation is being completed prior to launching a formal farm-out process in 2H 2019 to fund the future work program"

Then on page 13 it seems to say both the farm out process has commenced and that further work is being carried out before commencing:

"Future evaluation of the large potential already identified is planned to be accomplished via farm-out and this process has already commenced."

and

"....with ongoing studies and analysis at year end expected to be complete in 1st half of 2019 ahead of commencing an unconventional farm-out campaign"

So I'm a little confused as to what is happening!

I've found google finance to be unreliable for quite some time, at least a year. I use a program to manage my portfolio that I had set up to draw the data from google, but it stopped working for quite a few stocks, mainly AIM.

Yahoo finance seems to be more reliable, and I've set up my portfolio using Yahoo data only now, no problems since.

Pantheon have updated on the Alkaid well this morning. Rig estimated to arrive on site in the first week of march.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PANR&ArticleCode=s4e4kgc9&ArticleHeadline=Update_on_Alkaid_Well_Alaska

The other popular misconception is that we need a successful winx otherwise we'll get a worse deal.

The vast majority of farmouts come about because the party that has the land doesn't have the funds to explore/develop any further on their own. We'll be in exactly the same position with or without winx, and no different to the majority. Including Bill Armstrong when he first looked to bring in a partner to help fund his exploration.

Hopefully we've now seen the end on this downward slide. Looks like both JBER and WINS are now moving up on the bid and ask.