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There is absolutely no logic what so ever with this share price at the moment. No debt, heads of agreement signed off with hernic, 2 profitable tailing projects starting 2016. I suspect it's down to past performance with JLP, too many false starts, mining sector out of favour big time and platinum prices in the doldrums. If a few outside factors start to align in 2016 we could and should see massive returns here. I'm sitting tight and remaining patient.
Having read the Sunday Times business section cover to cover yesterday I am delighted with how JLP are progressing and with zero debt on the balance sheet - that is amazing when you consider the massive debts Anglo, Lonmin and the other big players are saddled with. And to add to that they aren't making money on a big chunk of their assets at these prices. JLP are in an extremely enviable position. The might be a minnow but what a starting point. I'm not going anywhere and will be topping up as soon as funds become available. The rest of the industry may be in dire straits at the moment but these boys will buck the trend big time.
Do you know that they can stop trading any day/time? its about one court decision
goldmind - Thanks for the tip on OXS but I won't touch them whilst Darwin and convertible loan notes are mentioned in the same sentence as Oxus. Oxus Gold PLC on Wednesday said it has issued 2.8 million new shares at 3.517 pence each to Darwin Capital Ltd after the investor gave notice to convert its zero coupon unsecured convertible loan notes in the company. Following the conversion, Darwin does not currently hold any convertible loan notes in the company, although more could be issued by the company under an October 6 deal.
O/T If you are ok with high risk vs high potential reward then is good time to buy some OXS
A more positive start to the day for JLP whilst Lonmin fall below the 1p mark and Premier Oil drop further to almost 50p. Anyone grumbling at where JLP are right now needs only to look at the wider market to realise we are doing pretty well. If Lonmin go bust which is probable with their debt and old costly mines, there will be a huge correction in the platinum price in the next 12-24 months. JLP will be in a fantastic position to take full advantage of this. The one concern I do have is that JLP get taken over too early ie below the 15p mark. I'd like to see this between 20-30p before a take-over is muted. Though we need to worry about that later in the day. Let's get a third and fourth tailings project signed up next.
Afternoon Breezy, I've just watched the presentation too. Leon comes across as a pretty straight up no nonsense type of guy who knows what he's doing. Like you, I'm not concerned in the short term and very confident for the medium to long term. If it goes below my average then so be it. I may have some extra funds in the new year, in which case I'll top up around these levels if I can. If Lonmin go to the wall - which is not out of the question, then 2016 could just be the start of something very big for Jubilee. With no debt on the balance sheet either! I can understand the long term holders feeling down about being down at 2-4p this last year but the board have kept the company afloat over the last few years. They must have been desperate or very naive (or both) to get into bed with Darwin when they did. They obviously hadn't been watching what Darwin were doing to the likes of BHR and others they bled dry. I do think that a lot of these outstanding warrants are being held by Darwin - who else could it be. Like yourself I'm holding tight here and not chasing dreams elsewhere - I did that in the past and it back fired, patience is now the name of the game. All the very best, idg69
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