Re: charts and fundamentals JLP had 40% of the Kabwe JV so by buying 29.01% of BMR the Company, they will end up with 40% + (29.01% x 60%) = 57.406% of the Kabwe JV, they will still only own 29.01% of BMR the Company. I look at the deal by considering the ratio of the JLP and BMR share price on the 23 October when the JV was announced which was 1:1.19 compared to the terms of the deal for the 29.01% today which was 1:1.54. Because BMR has fallen more than we have since the JV was announced we got a slightly better deal than had we bought the 29.01% at the time the JV was announced. One downside is that BMR will struggle more than JLP will to raise new money so they might have the sell our shares than we are to sell theirs when the 12m lock-in ends. Interesting that BMR's share price increased sharply in the last week which adversely affected our purchase ratio. Would be good to know who the biggest buyers were during that period. Had you asked JLP investors on 23 Oct if our share price would have been higher or lower than 4.3p by mid-Jan most would have said higher so the Hernic damn breach, tail-off in Hernic ounces in November and December 2017, absence of promised monthly Hernic data, and institutional placing hasn't helped our cause. We should have ended up with a much better ratio on the deal than 1:1.54 in my view given our direction of travel before this deal was announced compared to BMR. I'm assuming Colin Bird owned his 3,006,250 shares in BMR before JLP announced their JV on 23 Oct? If not, it should be investigated because that could have made it more expensive for JLP shareholders to buy their 29.01% stake. I'm pretty sure he did own his shares before the JV was announced otherwise there would be insider dealing issues to consider as well. Overall, I think the deal is OK but I don't think it will lead to a re-rating. The original Kabwe JV announcement did nothing for the share price and I don't think this will either. Only the promised ramp up of Hernic and DCM will boost the share price in the short to medium term and Hernic, at least, looks to have been delayed by at least a quarter. Hence the comment from Leon in the announcement last week about building a platform of confidence in 2018. I suspect he may have been told he needs to do that by the new investors. Pretty easy, under-promise and over-deliver rather than the other way round.
Great news today but very disappointed with the placing when we have 50m just sitting there doing nothing.We should be due a webcast soon.
Re: charts and fundamentals I thought the same myself...as long as the deal happens JLP is king. Obviously, no money in mining but a cash cow sat on the surface!
charts and fundamentals Now I was definitely against the last placing - sickened in fact. Am I missing something here because it seems to me that we just gave then less than 5% of our company and £500,000 and they gave us control of BMR. We will own almost 60% of BMR and basically Colin Bird will be making decisions about BMR as long as Leon gives the green light which is a given as we wouldn't have made this move otherwise. JLP just became a whole lot bigger company and much more diversified in terms of minerals and locations.Also the charts are on the cusp here and could be very positive by the close of play tomorrow. The sp moved back above the 20 day moving average ad it's range today was constrained between the 20 day and 50 day moving average - a small break up takes us above the 50 day moving average and as a consequence sees the 20 day cross the 50 day shortly thereafter which would be very positive (see WRES chart). RSI and stochastics look healthy too.In short - I think I like this deal and once the market has digested it I am hopeful that this will kick start an overdue re-rate of JLP.
Re: Jubilee Acquires Significant Equity ... ch - its unfortunately well established that PI's are not at the top of Directors minds, BUT the risks associated with this latet move by JLP seem a reasonable bet that it can increase revenues.... IF ONLY such a benefit was guaranteed, but that is the nature if the kind of risk small AIM mineres offer, which is why they say 'high risk high reward'... Lets just hope that will be the case. Buyer beware! ATB
Re: Jubilee Acquires Significant Equity ... Maybe Leon will buy shares now?? He could get them at placing price.
Re: Jubilee Acquires Significant Equity ... Good move if we believe commodities are at the start of a new bull market...very bad if commodities drop because we would have paid a premuim. Either way they dont care about us small guys...we are cattle fodder
So much for no more placings...... Cannot believe a word this Bod spew.... Just like the ANC start to assume the opposite of their statements and you will get a fairly accurate picture of future direction
Re: Jubilee Acquires Significant Equity ... ....what is the point in a 50m projects fund when you finance projects via another placement. Interest free financing that screws the shareholder seems to be better.
Re: Jubilee Acquires Significant Equity ... sorry 1000 shares.
Re: Jubilee Acquires Significant Equity Posi... According to my google backfill data there has been 1 trade of 1 share since the RNS and the price slashed from 3.7. to 3.55.OD
Re: Jubilee Acquires Significant Equity Posi... Placings here, there, everywhere. Spend spend on the credit card..
RNS As ii are as useless as ever, here is the RNS belowRNS Number : 9001BJubilee Metals Group PLC15 January 2018 Jubilee Metals Group PLCRegistration number (4459850)AltX share code: JBLAIM share code: JLPISIN: GB0031852162("Jubilee" or "Company" Jubilee Acquires Significant Equity Position in BMR Group Plc ("BMR" (AIM:BMR)HIGHLIGHTS· Jubilee to acquire a 29.01% interest in the enlarged issued share capital of BMR ("Acquisition"· Increases Jubilee's effective interest in the Zambian Kabwe project to 57.41% subject to Jubilee's election to execute the Kabwe Project· JORC compliant lead and zinc in Kabwe Dumps is estimated at 164 000 tonnes of zinc and 272 000 tonnes of lead excluding the further significant non-JORC compliant surface resources and the contained vanadium · Ongoing due diligence has confirmed understanding of size and quality of the Kabwe lead, zinc and vanadium surface assets· Testwork performed confirming the process characteristics for metals recovery· Jubilee to work with the BMR board to fast track other similar opportunities identified in the country· Jubilee representation on the BMR board and right to appoint senior executive to BMR's Zambian subsidiary Enviro Processing Limited ("EPL", holder of the Kabwe Project Leon Coetzer, CEO of Jubilee commented:"This strategic acquisition is consistent with our stated mission to take our brand into low risk surface projects in other commodities and other countries. The Acquisition secures Jubilee the right to a significantly increased effective interest in the Kabwe project which is dependent only on our decision to progress the Kabwe project, which remains subject to the completion of our due diligence. I expect to conclude our decision on whether to proceed with the Kabwe project and on what project design parameters, by the 28th of February 2018. The Acquisition also provides Jubilee the benefit of the in-country presence that BMR has established. This gives us the opportunity to fast track our entrance into Zambia for other targeted projects. Our on-going due diligence of the Kabwe project has confirmed our understanding of the significant size and quality of the various surface assets. I was particularly encouraged by our metal recovery trials which included the leachability of the zinc, lead and the vanadium. These results confirmed the recoverability of the targeted metals. Our due diligence now focusses on working with the BMR team to establish the optimal recovery route for extracting the metals both from a commercial perspective as well as in an environmentally responsible manner.I look forward to realising the full potential of this investment for the benefit of all our stakeholders."Transaction OverviewJubilee has agreed to acquire, conditional only on admission to trading on AIM, a total of 97 371 298 new ordinary shares of BMR ("BMR Subscription Shares", which equates to 29.01% in the enlarged share capital of BMR, for a total consideration of GBP 500 000 cash and the issue of 63 166 969 new ordinary shares of Jubilee ("Jubilee Subscription Shares". In addition BMR will offer Jubilee an executive seat on the BMR board as well as an executive seat on the EPL board.Based on the closing price of each Jubilee ordinary share on 11 January 2018 of 3.65 pence, the Jubilee Subscription Shares element of the consideration equates to GBP 2 305 594.Under the terms of the subscription and subject to Jubilee holding more than 15% of BMR's issued share capital, Jubilee is entitled to appoint an executive director to the Board of BMR and to the board of BMR's subsidiary EPL. Both the Company and BMR are subject to lock-in and orderly market arrangements for the trading of each of the party's subscription shares for a period of 12 months on normal market terms, such that neither company may sell more than 25% of
Jubilee Acquires Significant Equity Position - BMR Another 62m shares to help pay for this increased holding in BMR!!Lets hope it's worth it.
Re: 2018 platinum surge? The mighty $ is taking a bit of a hammering right now, which is making precious metals a very attractive investment for some. Never mind the Bitcoins etc! Give me something tangible that I can stuff under the bed in times of (Great?) uncertainty!Have you noticed that the graphs for the recovery in the prices of precious metal has been a very smooth upward rise of late, as opposed to the stucato movements of last year's rises?All bodes well for those invested in companies like JLP which I have seen being described as 'Reserved stocks'.Good Luck all.Cavey