Member Info for NoExcuses

Thanks Billyboy, I think your comments also help to explain Dorfan’s question in his point 2. An increased volume of chrome doesn’t necessarily equate to a like for like uplift in PGMs - there are many variables including the availability and capacity of the PGM plants to process the PGM material. Clearly in the last six months there has been downtime at the Inyoni plant.

Many thanks Bignose, appreciate your wishes. Your contributions to this board have been excellent and well informed. Good luck for the future.

Thank you, Italian. I enjoyed reading your posts, best of luck to you. You never know I might be back one day!

Hello All
Unfortunately I need to sell up and move on from here after many years. Sadly I’m taking a big hit but need the cash. I still believe Fortacin has a future but alas I’m unable to wait any longer. I’ve enjoyed reading all your posts over the years and wish you all the best of luck.

A strong recommendation from a quality analyst. This is good news and should lead to a decent uplift next week.

Papaduke , relax - it’s Friday!

I’m relaxed about the brokers note, although it’ll be interesting to note what comments you get back from the broker and Leon. It’s clear to me that the broker has been far too conservative on both the forthcoming FY results and the share price prediction. I think Jubilee will beat the forecast results this year and its share price will be closer to 30p.

Dorfan, it may be the case that with the Northam JV reducing/coming to an end and Inyoni taking over in April/May it will take some time for the Inyoni expansion to ramp up and produce the higher numbers.... the efficiencies and consequent higher margins and profitability may only start coming through in the second half of this year hence the slightly lower predictions by the broker.

Leon has plenty of skin in the game, not only has he dedicated his whole life, energy, career and reputation into Jubilee, he also has 23m options and has now bought shares. Thank you Leon.

Gkb, thanks for your explanation, makes sense.

‘Jonah, thats not correct the money has gone to the directors and ACAM. Read the RNS its all in there. The shares are issued to the directors and ACAM and THEY have placed them to the II's not the company’

I’m not sure the above is correct. It is the company that will have issued the new shares and placed them. I don’t believe ACAM or the directors can do this. When the new shares are issued and placed JLP will have received the proceeds which will then be passed on to the contractually entitled parties (ie ACAM and the directors) less the amounts for the original issue price for the new shares. I calculate this amount to be @£2.9M which will be retained by JLP. This is my understanding but would be happy to be corrected.

Leon’s salary increase may seem a lot but is well deserved in my view. It is his extreme efforts, business acumen and technical expertise that are driving this company and I believe will make us shareholders very happy in the near future.

Thanks for the info. Some good news at last. Taking a very long time but at least we seem to be inching our way forward.

If you can wait 6 months I’m sure you’ll be pretty happy even with your purchase in the 11’s.

Fabulous posts guys, thanks.

A possible risk might be a hostile takeover attempt at below 30p a share. There is a chance of that in my view given the PGM (including Tjate) resources and huge copper resources the company has secured not to mention its superbly efficient processing and technical capabilities.

That is an extremely bullish article on copper backed up with strong evidence and analysts estimations. Must congratulate Jubilee for securing such large copper deposits for processing at a time when copper is and will be in great demand.

Skindle, I agree with you. WASU is a sensible poster but unfortunately his agenda is pretty clear now that he has sold.

Wouldn’t be surprised if Pfizer and/or Moderna are behind this news. Think they could be worried about their profits being eaten by the Oxford vaccine with its much better price and delivery options.

Leon was very clear on this. No dilution.

Their fair value estimate is 23p

Seems quiet on this board of late. Is anyone expecting any news here in the short term? I was hoping for an update on the DCM tailings - I wonder what is delaying progress on that project.

Leon has been aggressively pursuing and successfully acquiring tailing add ons to scale up both Inyoni and Windsor which is great for those sites but I would have thought that progressing the DCM tailings would be a major priority now.

Any thoughts?