Member Info for plumbus

Rosewall, That only applies to the voluntary delisting where the shareholders request it. That last para is unambiguous. We will be delisted imo.

Can only assume that as we have had no RNS is that a meatier one will follow giving more details around relisting, financing etc. (btw all are welcome to my dreamworld)

AIM rules - note last para:

Cancellation
41. An AIM company which wishes the Exchange to cancel admission of its AIM securities
must notify such intended cancellation and must separately inform the Exchange of its
preferred cancellation date at least twenty business days prior to such date and save
where the Exchange otherwise agrees, the cancellation shall be conditional upon the
consent of not less than 75% of votes cast by its shareholders given in a general meeting.
The Exchange will cancel the admission of AIM securities where these have been
suspended from trading for six months

We can build the Zn circuit whilst evaluation of the Pb and V continues but can it be operated? Presumably we would produce alongside the Zn, a 'waste' stream rich in Pb and V that would need storage until the Pb loop is built. Can that be done with such big volumes?

That would be the 7th of August.

Aren't we delisted automatically after 6 months unless we put in a good appeal?

Someone trying to get BMR's suspension turned into a delisting possibly?
They are building the Zn plant so that should see early production to keep things moving.

https://uk.advfn.com/stock-market/london/jubilee-metals-JLP/share-news/Jubilee-Metals-Group-PLC-Kabwe-Project-Status-Upda/77779743

Thanks BMR for the update, Bigger plant is fine just where is the extra cash coming from; we're either going to be massively diluted or JLP will fork out and we'll take a smaller cut? Not great either way.

Posted by mikesurt on the BMR thread: Yazz...my pal and associate, has elbowed my misses to the outside seat, and has enlightened the need to timetable things....he is right, so here goes. 1. The ZA would have known all the required information prior to any negotiations, including BMR / borrelli situation. 2. Leon and his team would have assessed the capacity well up on a 5 ton pilot plant. and all the needed machinery. 3 .JLP knowledge of machine procurement cost and time frames also shared with ZA. 4 Actual site conditions and work todate and social requirement also assessed and ZA opinion noted. 5. THE Meeting today 20.June 18. 6. All the above noted / previous discussions rounded off.. present situation. blended in and agreement made. 7. Contract for procurement of plant and costing excepted and signed for. 30June. 8. Manufacture of machinery and delivered to site. Dec 2018. 9. Completion of steel support and building construction , leach pit and groundwork, mobile workshop and tailings areas and all the remaining ground work and fabrication requirements for a well run facility. Dec 18......through Mar 19 10. Sales and take off agreements prior to and during final plant production. Ongoing [ including 3rd party ROM ]. 11. Completion of plant and commissioning . April / May 19. 12. Ramp up and fine tuning prior to first sales of product. May / July 19. 13. Engagement of permanent employees and training off, prior to contractual end of construction team . 14. First sales revenue from Kabwe site. Oct / Nov 19. The BMR situation is the main thing in this RNS delivery and if retained, their ability to service their responcibilities. Best Regards all. No more.

Trouble is a low oil prices for US consumers is now more dependent on its fracking industry than previously and as we know fracking doesn't come cheap. We had a brief few years were production was maintained despite ever decreasing prices and as ADUK pointed out the frackers are still paying for that. It's unlikely to happen again .

'Not worth paying $30bbl,' Yet at that price the US fracking business was close to going to the wall? Does Trump really want to rely on Gulf supplies again. Wonder what the price of crude would be without the manipulative control that OPEC have?

this was posted on advn by sleveen: JLP 4.6.2018 "We are making excellent progress on the Kabwe project with the construction of the primary leach circuit well underway. Final tests on the ore handling systems are expected to conclude shortly to confirm equipment selection. Further details on the project will be released following the project presentation to the Zambian Mining Ministry expected to be held on or before 20 June 2018." JLP 7.6.2018 Our Jubilee and BMR teams are hard at work with the construction of the Kabwe project in Zambia. The initial construction focus is on the zinc primary leach recovery circuit. BMR 14.6.2018 Further to its announcement on 2 May 2018, BMR announces that it was informed yesterday by Jubilee Metals Group PLC ("Jubilee") that discussions between Jubilee, in its capacity as operator of the proposed Kabwe plant, and the Zambian authorities are not expected to conclude until later this month. Accordingly, Jubilee will not be in a position to (i) finalise its initial design, work programme and budget for the construction phase of the Kabwe plant and (ii) make its decision whether to proceed with the plant development until these discussions conclude. ------>Some dissonance between JLP's construction of the plant and BMR stating JLP are not in a position to finalise the initial design/work programme and BUDGET FOR THE CONSTRUCTION PHASE. Given JLP's record of over egging progress on projects (you know the ones ie all of 'em) I suspect BMR's statement is closer to the actuality.

Hense I am releaved your

'Further to its announcement on 2 May 2018, BMR announces that it was informed yesterday by Jubilee Metals Group PLC ("Jubilee") that discussions between Jubilee, in its capacity as operator of the proposed Kabwe plant, and the Zambian authorities are not expected to conclude until later this month.' 'Informed yesterday'! So why did it come as such a revelation to the BMR board, is that suspended too?

Placement of BMR Shares fully executed Highlight -- Jubilee increases its institutional shareholder base by successfully completing the placement of allocated Jubilee shares held by BMR for the settlement of approved historical creditors Jubilee is pleased to report, further to the announcement on 4 June 2018, the successful completion of a placing of existing shares held by BMR Group PLC ("BMR") to institutional shareholders. The proceeds of the shares will be used by BMR to settle all the approved historical BMR creditors. Leon Coetzer, Chief Executive commented: "I am very pleased to have received such overwhelming institutional support to execute the placement of the Jubilee shares previously held by BMR. The proceeds realised by the placement of these shares fully settles the approved BMR historical creditors. This support by the institutional investors is based both on our track record of delivering successful projects as well as sharing in our vision of growing a global metals recovery company. "

No not in BLVN out some time ago before the CEO ousted. Heavily into Premier and Hurricane now slowly selling off premier to buy lots of penny shares in oil and metals. Keeping HUR for massive profit (70% chance) or total failure (30%).Yes maybe include JLP in the penny metals list.

I don't think Borelli dreamt that they would be sold at this juncture at an historically low price. Yes they will be sold off cheaply. In effect they were sold to keep us afloat, so a fire sale.

Bring, If the shares were not suspended all this may have some relevance, they are not so its just banter, I don't see the point of BMR bashing as the news we will receive in the next few weeks will put a lot in perspective, if its good fine if its not - we either sell out low and nurse our wounds or if it comes to the worst then hard cheese - been there before, I'll get over it. I have learned a lot about JLP though in the meantime so that's been useful.

JLP now own some Kabwe by virtue of their holding in BMR obtained in what could be described as a fire sale. If shares are no longer an asset I am seriously broke.