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(JLP) Jubilee Platinum Share Chat

Discussion in 'General Share Chat (JLP)' started by rodrod1, Aug 13, 2015.

  1. rodrod1

    rodrod1 member

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    I have taken a small position here. It looks well placed with the recent fund raising......just wanted to hear other views.
     
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  2. rodrod1

    rodrod1 member

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    I am amazed that nobody else in Blueshare is in JLP.The price of platinum is going to rebou d as more of the big players take capacity out of the system. In addition, the likes of JLP are going to attract serious bids. At £30m approx, the current market cap, JLP will be on a few radars of value hunting conglomerates.i read today, that JLP had previously turned down 30p a share bid........I would take it! I hold 500k shares as part of a family portfolio.
     
  3. mart101

    mart101 Demi God of BlueShare

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    I've had this on my watch list since your earlier post but haven't had the funds to get in!
     
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  4. rodrod1

    rodrod1 member

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    I dont plan on increasing my holding. 500k shares is a little more than I can really justify. I am expecting a significant rise in the sp this year......5p as a minimum. Its of course risky because who knows the future price of platinum. Everything points to a rebound . At current prices though, JLP can make serious profits if given time to go it alone. They wont get that time imo, and therefore I wont get profits here beyond 4 to 5 hundred per cent within 12 months.



    uBe catious though.......hoping some negative views get posted.if it was certain then I would have sold my QPP.
     
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  5. mart101

    mart101 Demi God of BlueShare

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    If anything I am overly cautious after the last year and a half. If I buy in here it will be a small investment that I can afford to lose.

    It restricts my options a lot but I cannot afford to change my approach or I may end up looking for a job after managing to retire early.
     
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  6. rodrod1

    rodrod1 member

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    I retired at 50 but then found work to do as I was not happy unemployed. Did amazingly different work to my previ8us career. Finally packed it all in at 60. Now fully employed living on a narrowboat .....a whole new learning experience as my boat is 2y years old. She is almost fully restored now, just some painting of the coachwork if we get another dry warmish spell.dont risk losing your work free life!
     
  7. mart101

    mart101 Demi God of BlueShare

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    I won't risk it.

    I've been retired for just over 2 yrs and was 60 in Feb.

    I confess to getting a bit bored sometimes now and may look for something radically different from my previous employment but not sure what that might be yet.

    As long as it's something I look forward to I don't mind. The last 5 yrs of my previous career were not nearly as enjoyable as the first 30!
     
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  8. Benjamin Van Heerden

    Benjamin Van Heerden A Legendary Member

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    I'm invested here! Great prospects.
     
    Latest Given Reputation Points:
    rodrod1: 5 Points (Goood choice. I see KIBO and this as the shares for major capital gain) Oct 13, 2015
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  9. MJB1994

    MJB1994 A Legendary Member

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  10. MJB1994

    MJB1994 A Legendary Member

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    I hadn't heard this! Do you have anymore information on this you might be able to share with the team? It would be interesting to dig into it and analyse it further.
     
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  11. Benjamin Van Heerden

    Benjamin Van Heerden A Legendary Member

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  12. MJB1994

    MJB1994 A Legendary Member

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    That's OK! It's nice to know that it's appreciated!


    Would someone with an LSE account mind posting it up over there please? I would do it myself, but after having been banned permanently on several IP addresses, it has become quite a lot of work for me to do so.



    I suspect that we will warm back up here over the coming weeks. Fundamentally and technically there's a lot of potential at the current levels - I'll post a technical report tonight.
     
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  13. MJB1994

    MJB1994 A Legendary Member

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  14. Steamy

    Steamy Co-Founder of BlueShare Staff Member Moderator

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  15. MJB1994

    MJB1994 A Legendary Member

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    Here we are:




    Technical Update (10/11/2015)

    Disclaimer: I don't have a licence to give financial advice, don't therefore view this as such.


    As you can see below there is a ginormous continuation pattern occurring in Jubilee Platinum right now. I would expect this to continue in line with the current weekly trend to the upside.



    To calculate a target from an upside break of this pattern we do the following:


    Find the first major high (August) = 5.45p

    Find the first major low (September) = 2.8p

    Find the mid point of the triangle (the two numbers above) = (5.45+2.8)/2
    = 4.125p

    Difference between first major high and first major low = 2.65p

    Price Target on upside break = Triangle mid point + major high major low difference

    = 6.775p (implied upside of 78% from the current share price - 3.8p).






    [​IMG]




    Here's the same image from a weekly perspective to give you a long term contextualised view:



    [​IMG]




    This weekly chart is very handy for showing the levels of support and resistance - good news should move us up to the 4p resistance and then after this it's a straight path to the 5-6p range.

    [​IMG]


    Here is a fundamental look at the company that I put together:

    http://themaskedstocktrader.blogspot.co.uk/2015/11/jubilee-platinum-short-analysis.html:
     
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  16. Patrick

    Patrick Demi God of BlueShare

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    Jubilee platinum are exhibiting at the http://www.goldandbears.com show in London on Sat 28th Nov.

    Rather begrudgingly I have to admit it looks like it could be quite an interesting day out.

    I notice JLP's AGM is in London on Dec 2nd. Anyone planning to attend?
     
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  17. rodrod1

    rodrod1 member

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    I didnt attend but hear is a bit of feedback:

    AGM all good going forward at pace, most of the info.is as described in the presentation from the weekend. Next couple of months a lot of work to get the dumps off & running with the improved terms now that we see some pay from the Chrome.
    A couple of late finance proposals have come in that are currently being considered before signing the funding. Both projects have progresion deadlines but the board have a small window so it is in the interest of the company to review.
    Overall a very busy & interesting time ahead for Jubilee. IMO
     
  18. rodrod1

    rodrod1 member

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    from iii on AGM

    Well it's been a very long day for me for sure. Although having attended the AGM yesterday, it was very clear that there is a lot happening in the coming weeks and months. I took hand written notes and a recording of the event. There was a lot discussed discussed and I found Leon, Colin and Andrew to be very open and honest in the way they spoke. I have copied here what I think is relevant. If anyone has any questions, please fire away. There a bit to say so grab a coffee.

    CB was under attack on the first resolution. When asking if there were any questions in relation to it, one investor went on a 'why aren't we paying dividends rampage!' It took a very placid CB to explain to the chap we were a growth company and never had the directors indicted they would be paying dividends anytime soon. It kind of sunk in after a 10 minute exchange from this guy.

    Anyway the next question, at the appropriate moment after the resolutions, was a second 'investor' asking how much Platinum we were producing! It was then I wondered who the heck was investing here and whether investors even bothered to research what is going on. Later I duly noted to LC and CB that investors clearly needed educating and updating more. They accept that and they will be more proactive but are conscious of being overly informative on issues that quite frankly might make them look desperate to issue news. They don't want that.

    Leon started by explaining the two tailings projects. The Hernic one will be the largest surface platinum reprocessing operation in the world. The processing plant alone covers a full hectare. It's absolutely huge. Mitsubishi have already started to build the processing plant can you believe and there will be an update in the next week or two. This will be followed by a webcast shortly after and before Christmas. Leon said he had noticed in London this last week that people just don't realise the sheer magnitude of these projects, or how big a plant is that produces 20k tonnes of chrome per month. These projects are massive.

    The ASA surface project is on target. Cold commissioning will start in Jan, while hot commissioning and production will follow in Feb as per our agreement with them.

    We will be producing Chrome and Platinum from both sites next year. 20k tonnes of chrome will be produced every month, with 40k Oz's of Platinum is targeted. Typically 65% of overhead costs from mining operations is from mining itself. Our surface projects doesn't have these costs, it's zero. Leon stated "typically, other surface platinum companies operate at a break even if $550 per ounce. (Ours will be less) So you can see even with surface tailings you remain strongly profitable, even at the current low Platinum prices." He continued that low platinum prices is playing into our hands. Lonmin and Anglo were closing operations, demand continues to grow and supply is falling. Prime producers can no longer produce profitably so surface tailings projects are become highly sought after. They are lucrative he said. LC confirmed the chrome reprocessing cost was typically $18 per tonne while it is sold for $110 per tonne.
     
  19. rodrod1

    rodrod1 member

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    2nd pt from iii on AGM

    CB talked about financing. He confirmed options have not been good for years due to the financial crisis, but "they are getting a lot better." He confirmed people are now coming to us, we are in the finance driving seat and he was very confident on the financial side. He "doesn't have sleepless nights about it." LC confirmed the finance is "not keeping us back from building either plant." He confirmed JLP have enough cash in the bank to construct the first plant and 50% of the second plant. He confirmed they have received several approaches for finance and while they have an offer on the table, the BoD are reviewing these other offers. Leon confirmed why this is happening too; interested partners/loanees have noted that "Mitsubishi has taken 24 months in due diligencing [sic] us, from our knowledge, our capabilities, our delivery, our smelters, to seeing how we have turned our business around. They have reviewed our management procedures, while we have had to do an enormous amount of technical testing and proving to, first of all, outpace our competitors, and secondly, to convince, or give comfort, to an outfit like the size of Mitsubishi, who does not take risk."

    He continued, "our projects are so bankable, and definitely the Aim market market doesn't quite realise how much engineering we have put into these two projects. They are at an engineering level and a bankable level beyond a typical mining project. We have done full scale commercial trials. We have processed 50k tonnes to date just in getting the engineering design met. This is why the bank credit committee put this deal on the table and why approaches for funding have come forward to the company." I pointed out to LC that this has been ongoing since Aug, and asked whether the existing offer might fall out of bed. I also asked who the other offers were being made by. CB confirmed the existing bank loan was there to take at anytime, "it's on the table" he said. He wouldn't comment specifically on who the other offers were from, but he did go over some other options including banks and convertible loan notes (indicating prices double today's sp), while scoffing at further equity funding saying "why would we, no chance". They simply don't need to raise via equity. They now have a range of opportunities being brought to the table by companies approaching us. I asked when we could expect a decision on the finance. Essentially they are looking at this right now. They've been speaking to potential suitors this week in London and they are currently reviewing offers. So it will come at any moment. They need the cash in January as the Hernic site construction will be accelerating to meet set targets. CB reiterated, "Remember, Mitsubishi are a major shareholder of Hernic and once they have done a deal, the last thing they want to see is the other side dancing around. They want to see real progress on the ground".

    Mitsubishi have currently started construction of the processing plant in SA and LC stated "now that Mitsubishi have taken it, their whole procedure from here onwards, is driving us to the timelines, and that is JLPs focus right now also. He also confirmed "the whole Mitsubishi project is not one timeline, it is constant delivery now."

    LC went on to advise there was no reliance on the cash from the Quartzhill sale for projects 3 and 4 (tailings projects). Yes he mentioned a fourth project. He also confirmed he had been in discussions with one only last week. He continued, "If all goes to plan, by June/July we will be exercising a processing plant more than double the size of our nearest rivals. So we are in a completely different category within the Platinum industry in SA. It places us in a very different perception from these very large companies who own these assets. We are no longer the small wannabe company who wants to prove themselves to do these assets. Access to cash funding is also simplified, the bank who has made
     
  20. rodrod1

    rodrod1 member

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    3rd and last part from iii on AGM

    LC went on to confirm some advantages of our surface platinum side.

    We will be producing 40k Oz's with a staff of only 120 people, compared to a company that's trying to make 37k Oz's with 1,200 employees. That's a fundamental difference between us and a mining company. He said "remember also the difference is that the plants are highly automated. With educated people operating them. We do not have a large, unskilled, unionised workforce for the operation of these plants. So it's a very different ball game to producing these Oz's compared to operating a mine. He also confirmed "we will be producing high grade platinum concentrates (80%) which we will initially sell to refiners." Hernic/Mitsubishi want us to integrate ConRoast in time, which will likely be once the processing plants are proven to be earning and successful. Possibly after 6 months. The cost of introducing conroast will be met by profit. We will then be smelting our own concentrate, making an alloy from it, which we can then sell for a higher margin. There is also the chance ConRoast could be made available to the likes of Lonmin. In fact Lonmin came up a couple of times and it was clear to me they will refine our concentrate initially.

    The licence timescale was questioned. CB confirmed there had been lots of changes at the DMR. He specifically stated he "has no issues at all that they (JLP) will receive the licence." He was relaxed the DMR "can't and won't turn it down". He did say the priority atm though was the surface tailing projects. Even suggesting the licence at this time could be a distraction as they would need to jump on a plane to Beijing to seek a partner. I asked him after the AGM if he had suitors, he replied he "knew which doors to knock on". Leon contacts the DMR by phone every week to try and push things on and was even sat in the Director Generals office last week asking where the heck the licence was. It is being pushed as much as you can push Government departments. They explained there had been an unprecedented amount of change in the last two years at the DMR. Computerisation, 3 Ministers with different ideas, 3 Director Generals and changes within. Sadly we've been caught up in the middle of all these delays. JLP have had two official Government letters, 8 months apart, stating the same thing; that we have submitted and met all protocols for receiving the licence. Anytime then? Who knows.

    CB did apologise if some investors had not had responses to emails or calls. He said Leon needs to be able to get his head down and was very very busy, he works long hours. While he said it was unfair for investors to contact Andrew Sarossi as he was the technical director not the PR or IR spokesperson. CB felt it was not right that investors expect AS to answer commercial questions. (I agree). He asked investors for patience, there was a heck of a lot going on. He also suggested any questions were directed solely to him and he would try to spend 1/2 an hour a day answering them, but he did say it wouldn't be possible atm to reply to all. Both he and LC agreed and appreciate more info needs to be forthcoming and they will look at this. Personally I think they have done much more of late, and we are about to have yet another webcast for those who want to put questions to the board directly. We can't say they aren't trying to be proactive on this imo.

    Anyway hope this all helps. Good luck. Great times ahoy imvho, dyor.
     
    Latest Given Reputation Points:
    Benjamin Van Heerden: 5 Points (Brilliant!!) Dec 3, 2015

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