Member Info for Moneyman64

Seems a common theme with Bird’s companies -lots of promises and little delivery

Any buy in should surely reflect all the monies spent on discovering and establishing the size and quality of the iron ore resources together with its net present value.

To issue shares at 8p to the strategic investor would wipe out the current shareholders including the shares held by the board barring in mind the £100 millions required to bring the high quality iron ore to market

Juniorlassonde -there is nothing unusual to question the performance of a part time chairman who despite previous indications has yet to return a penny to longterm shareholders who consistently misses deadlines resulting in the shareprice for ever below a 1p.The major “achievement” this year is a totally unnecessary dilution of 30% of longterm shareholders interests when a sale of an asset would have been much better served-a small discount on the sale of one asset would have been much less dilutive for shareholders than a 30% dilution of all assets

What is unusual that certain posters continually praise Bird for continually falling to deliver any returns to shareholders.

I am not selling because one day perhaps we will have a chairman who delivers for shareholders -for example look how Strategic metals has performed this year since a chance of management

100% agree -sale of one asset at a slightly reduced price is much more beneficial to shareholders than further placings diluting shareholders interests in all the assets held by the company.

So sad that those who continually worship at the alter of the prophet Bird can’t see this

Looks like the promised sales of assets are nothing more than hot air from Bird (stupid to think that Bird would keep his word).

-no doubt to give false hope is a decent payout to shareholders for once.

No doubt more placings next year and the same old same old from Bird about the price of copper.

Tharisa up again -SLP stuck?

Have shares in both and would expect SLP to increase to reflect basket price -especially as SLP is not committed to large capital project and therefore surpluses profits will be distributed to shareholders (hold shares in both)

The increased PGM prices should have a very positive effect on the six months to 31/12/2025 (disposal date give or take) -this is the period when PGM prices increased significantly

Per RNS 17 November -“If all of the suspensive conditions of the Disposal are not satisfied or waived by 31 December 2025 then the sale agreement for the Disposal may be terminated by either Jubilee or One Chrome”

It appears that if the audited accounts are not produced by the 31/12 the sale might not go ahead.

In the meantime Jubilee must be benefitting from the vastly improved PGM prices -the profit per PgM ounce must be very healthy and a boast to the company’s coffers -as I write platinium in excess of $1700 per ounce and rhodium hovering circa $8000 per ounce -say a delay in the completion of the sale may not be all bad news

Yes -have questioned what has happened regarding the Sandfire money is -seems no timeframe for Sandfire to establish the “resource lift up payment”-seems a bit daft as they could choose to drill in many years time if they have say adequate resources elsewhere.

Please advice if anyone knows if there is a time limit for Sandfire to prove up the resources on the sold licences

Unfortunately unless Bird actually sells something this has a further discounted placing with confetti like warrants written all over it -taking a slightly lower reasonable offer for an asset rather than issuing hundreds of millions more shares will be much more beneficial for longterm shareholders -big share of any future earnings

Whowrotethis has summed it up stating the low shareprice is due to “inactivity and low liquidity”

Why is this -perhaps no one is buying because no one trusts Bird to actually deliver returns to shareholders?

Listened to the podcast -some very exiting areas to be developed on.

My one area of concern is the final piece to the jigsaw regarding the finalization of the finance for Karo-circa $120 million dollars-talked about a possible offtake re the gold produce -trouble here that this would make the Karo basket a lot less and more dependent on future PGm prices.

The directors also said that the shares in THS were trading at a large discount to other PGM companies.

Think this can be explained as follows

1-the continuing cutting of the cash dividend payout each year from a base much lower than that of other similar companies (circa 15% of NPAT compared to 30-40% of other companies)-small shareholders see no benefit in share buybacks ,(less cash in their pockets as they do not want to sell shares to compensate for the lost cash dividend).A cash dividend of say 5c to 6c per year would encourage more purchasers of the shares and would still represent less than 25% of NPAT -perhaps the Board should consider this ratio once Karo is up and running

2-the perceived risk of Karo until up a running

All this ramping and the shareprice is near the years low despite the copper bull market.

Bird has failed to deliver any returns here and some of his previous deadlines have turned out to be from Lala land.

The shareprice is simply a reflection in a lack of confidence in Bird and not believing anything that comes out of his mouth.

Luansobe was supposed to be in production over a year ago for example.

Sincerely hope the JLP deal does produce something for shareholders and a major deal is done on another asset within the RNs d deadline

The management has treated the $5 million share buy back in calculating the distribution to profit ratio and therefore reduced the dividend

From memory I thought we were previously told the buyback was an addition and would not reduce the dividend distribution.

Can anyone confirm this?

Guess the management will say the court win credit should not be fully taken into account in calculating the dividend.

Funny that-it would certainly have been in previous years when it was a charge in calculating the dividend

Very disappointing to cut the dividend by 50% -totally unjustified on company”s performance and booming Pgm prices..

Appears to break the 15% dividend promise.

Any comments

Bezant another Bird company now has 17 billion shares in existence.!

So raising the point of possible future dilution is a valid point.

I hope the ultra rampers are right this time but I wouldn’t bet my 911 on it

I am worried that Bird will not actually sell an asset -and just dilute and dilute to fund each project leaving the longterm shareholders with virtually nothing.

It would be much better to make one big sale first -part of the proceeds could be used in developing projects and part for a more than deserved payout to longterm shareholders -no further dilution required and all future returns to further shareholders

What has happened to the potential upto $80 million payout for the previous licences sold to Sandfire?

Will this be delayed indefinitely as Sandfire can choose not to prove up the resource?

Once again totally ignoring the wishes of longterm shareholders.

This has yet another “bargain basement” placing written all over it.

For once Bird listen to your shareholders return.

We want a major sale not a “Only fools and horses deal” with wishy washy promises of income one day in the distance future

Results due on Monday -still no RNS in respect of anticipated profits.

Could they be better than anticipated ?

What is the effect of the possible provision write back following the case win?

PGMs doing well again -possibly due to new China trading platform .

Still waiting for Karo financing package.