Member Info for TigerByTheTail

Hi Shakey!
2.5g/t gold over 125m is indeed very good. I know explorers who would kill for that drill result!

My take on it is that our round number seller (BMR?) dumped a load of shares yesterday about an hour after the RNS went out. There was enough liquidity yesterday (over 5% of the company changed hands and most of the listed trades were buys) to enable our "seller in a hurry" to get rid of a large number of shares. I'm waiting for a huge delayed sell (or maybe two sells) to pop on the board sometime today.
Hopefully, these are the last of our seller's shares and the share price is now free to rise to a less mispriced level. This is a crazy mcap for this company!

Galileo RNS just out. Confirms 12,000 t per year contained zinc metal for 6 year mine life of high grade willemite, for delivery to Sable as soon as Kabwe tailing projects start.
12,000 t per year of zinc metal (after the Sable electrowinning circuit comes online) equals about $30m in revenue. On a total figures and thumbs basis, I'm estimating this will add roughly $5m per year in earnings to Jubilee for 6 years, with upside to come from both new discoveries at Star Zinc and at Ka****u.
Rather good for a side deal!

On skim reading, all good. Confirms all previous statements. Very well-defined zone of very high grade zinc-containing willemite, near surface and very easy to mine (1:1 strip ratio!). 6 year mine life from this source at 12,000t of zinc per year = @ $30m per year refined metal value. $10m per year earnings for Galileo looks very realistic. Possible extra zinc resource at lower grades to be defined later. Kashi'tu still to come.
This RNS opens the door to the next steps - an offtake agreement with Jubilee and the small scale mining licence.
Targeted delivery of first Star Zinc ore to Sable this year (as Kabwe tailings project should come online in Q4).
In short, excellent.

At 0.7p (just paid) Galileo has a market cap of all of 3.04m pounds.
That's 3m for Star Zinc (6-7 year mine life, 12,000 tons of contained zinc metal per year, near term production) + Ka****u (underexplored, but probably containing very large quantities of zinc and vanadium, also with an easy path to production) + Glenover (a good rare earth and phosphate project, but without a clear path to production as yet).
3m quid mcap is still a crazy misprice for this company. There is a very long way to go before anything like a sensible price is reached.

Hi Moneyhawk!
I agree 100%. If Jubilee were ever going to get involved with mining, they would have gone for Star Zinc and Kashi'tu. Star Zinc is a really good asset with a short and simple pathway to production via processing at Sable. If Leon passed on that, that means he really does have no interest in getting involved in digging stuff out of the ground.
I'd be gobsmacked if Jubilee are interested in a wild goose chase after copper in the high Andes.

Hi All!
Can I ask if anybody who is going to the AGM on Friday is willing to report the results here afterwards? A quick summary would be much appreciated.
Personally, I think Borelli deserves to be basted in hair oil and slow roasted on a spit over an open fire for what he's done - and I'm not even a BMR shareholder!

Anybody get any idea what's happening at Thorny River?
It's ten weeks now since the last RNS (June 11th).

Hi Bring!
I think I expressed myself badly.
The BMR Kabwe royalty is not worthless - 11% of the profits from the Kabwe tailings is actually worth quite a lot over time..
BUT, BMR's current shareholders (including Jubilee at 29%) will be diluted heavily by the need to issue equity for a new listing and to raise money to drill in Peru.
GIven this, and that Jubilee have absolutely no interest in BMR's new project, if Jubilee can trade their BMR shares for a reduction in the Kabwe royalty, then that's a good deal (for Jubilee).

Hi Rosewall!
I also have never thought that JLP's shares in BMR have any monetary value. They are certainly effectively worthless now.
If they could now be traded back to BMR in return for cancelling the Kabwe royalty (or even for a percentage of the Kabwe royalty), I'd be more than happy.

I agree both the late trades are sells. These broker coordinated round number sells are almost the only sales around at the moment - once they are done the share price will rise quickly.
And if the sales are BMR - which is what I believe - then they must almost be done. The decisive BMR AGM is on August 23rd (next Friday). I have a feeling that BMR will be fully sold out here by then, and that we will get news from JLP about Kabwe / Sable (including the conclusion of the offtake with Galileo) immediately after that.

uk.reuters.com/article/us-china-pollution/chinas-minmetals-says-to-close-rare-earth-unit-after-pollution-violations-idUKKCN1V505K

I agree with Tradedesk on this one: this is simply an AIM misprice.
There are nearly 1,000 companies on AIM. Some get hyped and pumped. A few just get overlooked and forgotten about, even though they are making real progress towards generating substantial near term cashflows.
I remember buying Bushveld at 1.9p, when it was already clear that the company was worth far more. Much the same thing here.

https://www.zerohedge.com/news/2019-08-15/china-rejects-trumps-tariff-olive-branch-vows-imminent-retaliation-against-us

Note mentions of rare earths in the Chinese tweets...

https://www.zerohedge.com/news/2019-08-15/china-rejects-trumps-tariff-olive-branch-vows-imminent-retaliation-against-us

This is from zerohedge, but still a sensible article. Note the mention of rare earths amongst the Chinese retaliatory actions. Current share price (less than cash) here is really crazy!

This is from the June RNS about the BMR shares:
"Application will be made to the London Stock Exchange for a total of 28,215,385 new ordinary shares of 0.1p each, ("New Shares") to be admitted to trading on AIM. The New Shares comprise the above-mentioned 24,615,385 Consideration and Additional Consideration Shares, and 3,600,000 new ordinary shares to be issued in lieu of broker fees, the latter priced at of 0.50p per Ordinary Share. "
Personally, I'm looking for a final big sell of a number ending in 15,385 shares to confirm that the broker has finished the disposal - if the seller is indeed BMR.

www.kitco.com/news/2019-08-14/-Guaranteed-Supply-Of-Rare-Earth-Is-Vital-Australian-Defence-Minister.html
Despite what appears from Mkango's share price, the US-China trade and currency war is only getting worse - possibly much worse if China cracks down violently on Hong Kong. At some point the market will focus on non-Chinese supply of rare earths again, and the few listed rare earth stocks will soar in value.

Another after hours round number sell yesterday - this time 1m shares.
IMO, these sales are a broker disposing of a reasonable holding in an orderly manner. For my money, it can only be BMR selling out their 5.6% stake.
I've now counted more than 20m in these round number sales (and I haven't been watching all the time). So - if it is BMR selling - the end of the disposal must be very near.
As far as I can see the vast majority of the trading here, apart from these sales, are buys, even if sometimes they are printed in red on the board. So, once the selling ends, this should rerate quite quickly.

http://jubileemetalsgroup.com/wp-content/uploads/2019/08/Shard-JLP-5-8-2019.pdf

Update Shard broker note on Jubilee website. Not much new here either!

Hi Stockable!
Yes, CMCL is most definitely mispriced - if you take Zimbabwe out of the equation.
I believe that the worst is now past for Zimbabwe, and that the economy will slowly stabilise as the country opens up. If I'm right, CMCL will gradually gain a more normal rating from the market; especially as gold production improves when the new shaft comes online. In three years' time, the share price here could look very different indeed!