My amateur charting skills say we are approaching a turning point with stochastics at 16% already indicating oversold - so if anyone is mad enough to invest in this pgm and chromite producing company with a proven large pgm resource JORC compliant and licensed with various irons in the fire and two new projects being planned and readied for execution - then the next day or so may prove to be good timing.
Sentiment is almost rock bottom - read posts below - it's up to you.
Good news - JLP are about to diversify into bananas - they aren't going to climb the trees for the bananas as that would be labour intensive and carry all the risks associated with extracting the raw banana from it's point or origin. No - they have a much better strategy - they are going to collect up the waste bananas that are on the ground, wash them and sell them on in a banana concentrate. It will be the cheapest banana concentrate in the business - not quite sure how much they are going to produce at the moment but there will be monthly / quarterly updates perhaps at some time coming soon.
Not to be funny but I still don't see the connection and there is certainly no mistake. The meaning I was making was "going bananas" - which means silly etc. I am still not sure how you have twisted this to race - quite a worry for those with innocent minds regarding this...pathetic topic anyway.
Anyway - I certainly wont be commenting more on this is there is nothing to defend/explain etc...no idea..
Yes I eat bananas too - PC with imaginations going way too far here...
I think you made a mistake posting that up - it simply wasn't required to make your point. If you re-read the original post it's difficult to see how else that remark would be interpreted. Would you have us believe he's talking about all people who eat bananas?
PS - I have one after my breakfast almost every day so I'll consider myself offended even though I'm a white guy from Fife (or is it Fyffe )
Now that is a first - white on white being racist - you a joke! In my experience those who play the race card are the racists. If your only tool is a hammer you will think everything is a nail - point proven!
I am all good thanks charlus - I just hope Leon and co read these boards and see our views and try and do something about it. I certainly need to attend one of the PI sessions with them and give them a polite piece of my mind - if I am still invested at that point.
Confetti Leon (learning from POTUS) always talks about share holder value - how many years do we have to wait.
I am right back to where I stated, thank goodness I sold over 7 but made the HUGE mistake thinking 4p was a good entry point - seems like "our" leader Leon has our back and is willing to join our pain and buy some of these worth(less) shares...no, he knows he is going to issues shares ^2 until the cows come home. He just wants "free" shares like a hobo, cap in hand.
Platinum has been on tear recently and we still stuck in the mud sinking, dying...
Spoke to a trader friend of mine - warned don't touch this company as it run by banana eaters...seems he was right
Leon is creating a nightmare for us share holders ...if this goes to 4p I am out unless Leon buys at least 500k shares. He is the reason we are so low - no trust. Colin at least puts money where his mouth is...Leon no financial sense hence all the dilutions...
Leon sings the same "buzz" aka bs words like "oh yes certainly", "signification value", "share holder growth" aka the Juiblee mugs....
He is playing us for chumps - Leon put your money where your mouth is you yellow belly!
The thing about the Q4 results is if they aren't great, it would explain why JLP issued shares before releasing them. But they must be OK for the new investors to have bought them. If they are great, you'd question why JLP didn't release them before raising the money, it would have been less dilutive to existing shareholders. I concluded that the Q4 results were OK but not as good as initially trailed. That would explain why JLP needed more cash so they could confirm they were going to progress with Kabwe by the end of Feb deadline.
I wondered if the 29.01% of BMR was JLP just wanting a bigger slice of or control of the Kabwe JV of their "price" for going ahead with it after doing their initial due diligence. If there wasn't some gamesmanship going on and BMR were certain JLP would progress you'd have thought they would have held onto their 60%. Another £500k in cash is presumably extra breathing space with their outgoings or a top up of the £2.3m BMR were going to get for JLP's 40% share of the Kabwe JV. Another possibility is that the institutions who bought the equity are linked to the $50m loan facility and wanted cheap equity as their "price" for continuing to provide it. If they weren't linked, I wondered if the debt providers had seen the cash flow forecasts and wanted more equity to be put in as a buffer before the facility was drawn on by JLP for Kabwe plant construction costs. Then JLP wouldn't have had much say in the timing or price of the fund raising.
Lots of possibilities, I wasn't sure what was going on, I just didn't want to take the risk of more placings while my loss was still bearable. Another investment where I had the right idea, platinum was going up and SA would stabilise and ended up losing money. I'm going to stick to funds and asset classes from now, it's the only thing I've ever been consistently succcessful with. Individual stock picking is difficult, you never know whether your Directors have your back or their own agenda. Leon talked about "achieving our dreams" in one of his webcasts and it made me whince. Achieving dreams has got nothing to do with anything from a shareholder's perspective, it starts and ends with increasing the value of each individual share over time. JLP could become a processing giant but if there are 40-45 billion shares in issue by the time it happens, which is what there would be if 2002-2018 was repeated, it would be a nightmare, not a dream for investors.
If platinum rises 30% Tasagil then the ETF goes up 30% whereas JLPcurrently at break even (pessimistic) at $800 per ounce basket becomes $1040 per ounce with costs at around $350 per ounce which means JLP should go up much much more than 30% based on current projects alone. Then Platcro becomes worth much much more on the ground as the extra 30% is all profit on top of expected profit. Furthermore Tjate becomes viable with a 30% rise in platinum (got some figures on this for another time from research).
JLP is a massively geared play on the platinum price - so if you think platinum is going to rise then JLP should rise several fold compared to the ETF.
ETF should be safer as the price in theory should not drop as much as JLP if pgm prices fell but in reality the sp has taken little notice of 10% to 15% swings in pgm prices as they are all waiting for the bottom line to show a profit - after that then market forces should be more akin to a production company rather than an exploration company but any fall in pgm's in the short term should be more than offset by delivery of strategy.
As well as getting updated figures for Dilokong and Hernic, this update should include the first quarter of 3rd Party ore figures
"3rd Party ore processing at DCM commenced end of September 2017 and is expected to ramp-up during October and November 2017"
I see Hernic as Jubilee's showcase project to show the mining industry what they can do.
If they are to sign a processing deal with a major it is figures showing the performance of Hernic that will probably convince them to sign.
In October 2017 Jubilee provided an update showing the performance figures during ramp up at Hernic, since then we have had nothing.
I have written to Leon to ask if these monthly updates can be resumed after the QU.
Similar figures were provided from Dilokong and, if they can provide them for October 2017 why can't we get them every month, at least until capacity is reached.
With profits rising month by month it is vitally important that the market receives regular updates and perhaps then we will see a more realistic valuation given to JLP.
I sold 2.6m shares mid-week at an average price of 3.55p. Family hold about 0.3m and planning to keep those. JLP throw equity around like confetti. 38.8m shares issued in 2002, 1,306.5m after the BMR deal, a 34 fold increase. I'd mistakenly assumed JLP could fund future growth from DCM and Hernic operating cash flows based on Leon's comments re USD $2m of project earnings in calendar Q4 and Hernic debt being repaid in March 2018 but now according to him, "this initial institutional entry has the potential to be followed by others". That's fine if the share price is going up but that hasn't been the direction of travel lately.
I can't see DCM and Hernic taking JLP much further than a small accounting profit, after factoring in higher admin costs as the company grows, extra depreciation on plant, and write offs of project loan interest capitalised as your start to process, and with a £47m current market capitalisation to support, that could be a drag in the short to medium term. I understand BMR might be a transformational deal and provides geographical and resource diversification but I would have been content to process DCM and Platcro platinum for the next couple of years, complete the ramp up of DCM and Hernic, turn a modest accounting profit, let the share price start to recover, and then use cash flow, Tjate, and partnerships rather than equity to fund diversification and growth.
You have to wonder if JLP suffers from institutional Attention Deficit Hyperactivity Disorder. They say no more placings, then raise £4.5m, they say Hernic data to be provided monthly, then don't provide it, they dilute shareholders to buy Platcro, then don't process it, they move their focus from DCM to Hernic in mid 2017, then DCM output falls, they say 20% month-on-month earnings growth at Hernic, then it doesn't ramp up as trailed, they don't finish the Hernic ramp up but sign a JV with BMR, the share price falls, they issue more equity for cash and swap some with BMR with a cash top up in consecutive weeks.
"heavily discounted shares in lieu of salary is not the same.".
This entire thread is shocking. Would you give up part of your income to buy shares that you can not sell? Of course he can't sell them because the `same rabid dogs who continually chew this bone will turn on him for selling. I am surprised that he has even taken shares in lieu of pay at all - that is a mill stone that you can't get rid of, you may as well have taken a pay cut than have worthless shares because that is what shares you can't sell are.
ch - you certainly see things in black and white, and I would like him to buy 'some' shares in JLP, but I really dont thing your 'explanation' of the low SP is all down to his not owning any shares in JLP - life is rarely that simple..... Anyway a bit of good news (earnings?) should see the SP look a bit more respectable, BUT I make no assumptions, and just hope my reading of events at JLP are reasonably well founded.... Lets just hope markets arent in for a swoon soon! That would be a b*mmer!!! ATB - and try not to get too gloomy about 'stuff'! AR
miltonboy - no, he is CEO of a public company and needs to start to act like it. He is showing huge weakness here - fact! The market just doesn't understand what he is doing and that's why I think our share price is so low - 100% on him...I have my own company, friends of mine own their own ones too - we want more especially that we in the driving seat!!!
Put all your eggs in one basketand watch that basket. Andrew Carnegie
This is crazy guys!
He would be a fool to have all his eggs in one basket with the risk that all eggs get taken out in one go.
Spread the risk for him as you do with your portfolio.
Leave him be, he has skin in the game and he is key to this being a success.
He does need an extra 10% added to his salary shares and option shares, unless he is greedy and knows something we don't know and then he would prevented from doing so by law!
I don't think we are in a closed period, so he can, but why should he?
You may have hit the nail on the head there mutley.
His liveliehood is invested in JLP. His share options are all in JLP. If he has spare cash then I think he and his spouse may decide that paying the mortgage down is a safer way forward.
But darling this is a sure fire winner - yes dear but you said that with the last company and look what happened.
Would be nice if he bought some but a bottom line profit would be better and is what ultimately counts for the company's health - sentiment is what counts most on markets though - so the sp would probably react very well in the short term to a purchase by Leon.
I think he sees his job as growing the company and not to be focussed on the sp. We are focussed on the sp and the company can go to the wall once we have cashed in. His career and JLP's success are his priorities.
It is possible that having possibly lost a lot on share investments previously that Leon has agreed with his wife that they will not invest any more than his salary particularly in view of the large number of options he holds. All other income might go to living costs plus a number of other diverse low risk investments.
However if it has got to the stage where this issue is holding the market cap back then the board should raise the issue with Leon and persuade him to reconsider. It is daft to compromise progress for the sake of a relatively modest sum of money.
Colin has purchased shares the last time around 5p if I remember correctly.
We are all here because we see the potential which I hope gets realised in 2018.
Always glad to see you post AR .
I take your point re the CEO investing in the co he is running, BUT surely the logic of your view is that you should sell up if you dont trust the guy. No one should be obliged to buy shares, but it seems patently obvious that being exposed to shares in the co you are running makes a lot of sense. Anyway I wish you, and every other holder, luck with JLP - AR
I wonder why the board do not insist that he buys some. He risks undermining everything that he claims to be achieving and reaffirms the distrust in the leadership to which Colin recently alluded when commenting on share price weakness despite the progress made. The fact that he has millions of options and takes shares in Lieu of salary is not the point.
The board should insist that Leon buys shares.
They should publish a decent set of transparent financial result showing a clear profit.
Until these things happen the SP will not achieve what they claim is fair value.
I remain invested.
Leons words speak louder than his actions - he is all bark. If he really believed in the company he would not only be sitting with a pathetic 27k - (brought)...my worry with Leon is the guy appears to not be financially smart...not smart at all...unless its all lies and there is way more dilution coming.
Either way I dont trust the man unless he buys shares...only the dumb will think this is normal CEO behaviour - unless he is p!ss poor....makes no sense...
Platinum at $1016 and palladium at $1102.
the basket price at $850 and cost per ounce of $350 could be facts in a month or two.
That's $500 profit on site at Hernic per ounce (after all site costs).
Even with 2,000 ounces per month (undershoot of 2500 target) that gives a million dollars per month profit. Assuming DCM and Hernic chrome pay the company overheads (perhaps a bit of a stretch now given our rate of expansion), then we could be looking at $12 million profit for next financial year since cash has been raised through equity for expansion.
JLP will re-rate this year IMO - worth holding for a 40% to 100% rise- all IMO.
Short term expecting 1,500 ounces November, 1,000 ounces December and 1,100 ounces minimum for January (given the 30% planned throughput reduction).
Agree, Leon should put his hand in his pocket and show some belief in the company. If its so undervalued surely its a good time to buy. Before anyone says it, heavily discounted shares in lieu of salary is not the same.
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