the_old_trout
09 May 2019
Q1 rns Aargh…another RNS which fails to reach my inbox, so I went back to sleep after a late night. Strange market reaction so far, given that the figures clearly prove up the growth trajectory with the strong likelihood of even better figures in Q2. However as I pointed out recently there was little immediate impact when the interims were published on 28th March, yet the share price grew by 1.1p in the follwing eight days, so let’s hope for more of the same as the PR machine cranks into action and further news is dripped into the market. Tot
jaytee41
09 May 2019
Q1 rns RNS Number : 4407Y Jubilee Metals Group PLC 09 May 2019 Jubilee Metals Group PLC Registration number (4459850) AltX share code: JBL AIM share code: JLP ISIN: GB0031852162 Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR). Jubilee Metals Group PLC Quarterly Operations Update Q1 2019 Jubilee Metals Group (“Jubilee†or the “Companyâ€), the AIM and AltX traded metals processing company, is pleased to announce its operational update for Q1 2019. Highlights · 57% increase in quarterly operational earnings to GBP 3.22 million (ZAR 58.85 million) · 54% increase in combined quarterly revenue up to GBP 6.56 million (ZAR 119.90 million) · PlatCro chrome acquisition completed and contributing to Company earnings ahead of projections · PlatCro PGM* project (platinum and palladium dominant) targeted to commence with production in Q2 2019 · First chrome concentrate from DCM fine chrome project delivered to market with production ramp up expected to reach full design capacity of 25 000 tonnes per month in Q2 2019 · Exposure to wider commodity basket, including chrome, PGMs, vanadium, zinc and lead · Increased backing from institutional investors secured to complete funding for the Kabwe project · Successful secondary placement of all Jubilee shares held by BMR Group PLC to institutional investors 6 Element Platinum Group Metals including platinum, palladium, rhodium, ruthenium, osmium and gold Leon Coetzer, Chief Executive Officer, says: "The period has been exceptional for Jubilee, showcasing the implementation of our stated mission to grow our earnings base, while maintaining strong margins and diversifying our operational footprint into base metals and across a number of mining jurisdictions. The team delivered strong earnings growth breaching GBP 3 million while simultaneously implementing the PlatCro chrome transaction to increase our chrome operational footprint and successfully securing the funding for the implementation of our Zambian Kabwe project. This performance was achieved despite a notoriously slow operational period in January. Our DCM fine chrome project is a remarkable achievement, delivering its first saleable chrome concentrate to the market. I look forward to the team achieving full design throughputs on the back of this success during the next period. " Consolidated operational financial review for Q1 2019 Q1 2019 has seen continued delivery by the Jubilee team bringing into operation a further two projects, with the acquisition of the PlatCro chrome operation and the commissioning of the DCM fine chrome project. This strong performance is expected to continue in Q2 2019 as the PlatCro PGM project is brought into production at a targeted processing rate of 60 000 tonnes per month and the acceleration of the Kabwe vanadium, zinc and lead project, following the recent acquisition of the Sable Zinc Kabwe Limited (“Sable Refineryâ€) refinery in Zambia. The table below presents the operational revenue and earnings performance for Q1 2019. PGM Project revenue (GBP’000) Project revenue (ZAR’000)1 Jubilee attributable earnings (GBP’000) Jubilee attributable earnings (ZAR’000) Q4 2018 3,737 68,807 2,173 40,078 Q1 2019 3,443 62,959 1,908 34,993 CHROME Project revenue (GBP’000) Project revenue (ZAR’000)1 Jubilee attributable earnings (GBP’000) Jubilee attributable earnings (ZAR’000) Q4 2018 534 9,840 (123) (2,267) Q1 2019 3,117 56,945 1,309 23,854 COMBINED Project revenue (GBP’000) Project revenue (ZAR’000)1 Jubilee attributable earnings (GBP’000) Jubilee attributable earnings (ZAR’000) Q4 2018 4,271 78,647 2,049 37,811 Q1 2019 6,560 119,904 3,216 28,847 1 = Average monthly conversion rates used Reporting timetable going forward With the rapidly widening project footprint in terms of mining jurisdictions, and commodity basket, as well as an active expansion plan, the Board has, in consultation with a number of major shareholders, concluded that it will in future present a more detailed consolidated operational and financial review on a six monthly period while continuing with a more frequent project update. As the business continues to mature, the Board believes this will provide shareholders with a more detailed view of the Company’s operational and project performance. PlatCro operations - chrome, platinum and palladium (South Africa) Following completion of the acquisition of the PlatCro chrome operation in mid-January 2019, the Company has successfully phased in management and operational control over the project. The chrome operation has already contributed positively to the group chrome earnings ahead of projections as the Company continues to drive efficiencies and enhance performance. Importantly, Q2 2019 will be the first full quarter for this operation, and a more detailed operational and financial performance will be provided in the half yearly update, which the Company believes will be more reflective of the potential of this operation. The PlatCro PGM project is expected to commence with the production of platinum and palladium rich concentrates during Q2 2019, and holds the potential to double Jubilee’s current PGM ounce production over the life of the project. Hernic PGM operations - platinum and chrome (South Africa) The Hernic PGM operation maintained a strong performance despite the power outages suffered during February and the delay in reaching full operational levels following the festive period which affected the supply of feed material during January 2019. The operations have returned to full operational levels producing in excess of 2 000 PGM ounces for April 2019. The Company maintained the operation’s low cost base producing at below USD400 per PGM ounce sold, to achieve an attributable project earnings for the quarter at GBP 1.91 million (ZAR 35 million). DCM operation - chrome (South Africa) Jubilee’s ground breaking DCM fine chrome recovery plant, constructed during Q4 2018, has successfully advanced its commissioning phase during Q1 2019, with the first chrome concentrate being produced to target concentrate grades in January 2019 and delivered to market. The production rate continues to be ramped up with design throughput rates of 25 000 tonnes per month expected to be reached during early Q2 2019. This new fine chrome recovery plant is a significant milestone for Jubilee as it demonstrates to the industry the recoverability of fine chrome at saleable concentrate grades. Kabwe operation - zinc, lead and vanadium (Zambia) As previously announced on 21 March 2019, Jubilee has entered into an agreement with two subsidiaries of Glencore plc (the “Agreementâ€) to acquire Sable Zinc Kabwe Limited (the “Sable Refineryâ€) in Zambia (the “Acquisitionâ€). Closing of the Acquisition is conditional upon the fulfilment of certain conditions precedent as contained in the Agreement, including the approval of the Acquisition under the Zambian Competition Act. Jubilee has submitted its application for the approval of the Acquisition to the Zambian Competition and Consumer Protection Commission (the “Commissionâ€) and has had positive engagements with the Commission to further its review of the application. During this interim period, Jubilee’s project team has been granted access to the Sable Refinery to refine the implementation plan with a view to integrating Jubilee’s vanadium, zinc and lead refining process with the existing operations at the Sable Refinery once the condition relating to the Approval by the Commission as noted above has been satisfied. Jubilee has entered into discussions with various potential suppliers of run of mine zinc rich material within the Kabwe region. The supply of such high grade zinc material offers the potential to increase the targeted zinc refining capacity in addition to the targeted Kabwe surface material. Jubilee would only consider such processing opportunities if they are value accretive and further enhances project operating margins. Each of these opportunities are carefully considered both commercially and technically by Jubilee and ranked based on potential value addition to the Kabwe Project. One such potential supplier of zinc ore includes Star Zinc a company in partnership with Galileo Resources PLC (“Galileoâ€). Jubilee is in discussions with Galileo to evaluate the pre-classification at source of a high grade zinc stream which would be suitable for further refining at Jubilee. General Jubilee is pleased to announce that the Company has successfully facilitated the placement of all Jubilee shares held by BMR Group PLC (“BMRâ€) with a large institutional investment fund. BMR no longer has an interest in the ordinary share capital of Jubilee. This relates to the 2018 transaction whereby Jubilee acquired 29.01% of BMR as announced on 15 January 2018. The acquisition consideration at the time was satisfied through a combination of cash and the issue of new Jubilee shares. United Kingdom 9 May 2019 Contacts Jubilee Metals Group PLC Colin Bird/Leon Coetzer Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
jaytee41
07 May 2019
Lift off! VOX markets have tweeted that there is a problem with their RNS feed and that they’re working on it.
the_old_trout
07 May 2019
Lift off! Maybe there’s a glitch in the system jaytee, but who cares when the stock is re-rating? Looks like the II’s and HNWI’s are still in accumulation mode to me, with some PI’s taking profit as the stock hits a minor resistance level. We should blast through that in the blink of an eye if the quarterly figures are decent imho.
jaytee41
07 May 2019
Lift off! checked vox markets app this morning and there are no rns at all for anyone. Checked lse and also no rns for the stock I follow. What’s going on…
the_old_trout
06 May 2019
Lift off! Hi dk, I think Friday’s rise might also have been assisted by the release of LC’s presentation at the UK Investor show which is very impressive: [link] The slides he was using are also available here: jubileemetalsgroup.com 20190325-Jubilee-Metals-Group-Investor-Show-v2.pdf 2.31 MB Have to say that he comes across much better on his own than in the webcasts he does with CB. Very focused, confident, and proud of what he’s achieving, with no bullshit. This company is clearly going to grow its revenues and earnings exponentially and I think it therefore deserves quite a high p/e ratio. I’m therefore throwing my recent prce expectations out of the window and buckling in for what should be a very exciting ride over the next few years. Here’s to tomorrow and beyond. Tot
Ripley94
04 May 2019
Speculative Buy JLP… XXXX See this went up 20% yesterday , looks like i have not looked at it for 9 months .
dkok
03 May 2019
Lift off! ToT Nice rise this PM. The RNS from Cannacord this afternoon notifying thier interest may have given the impetous for this. Perhaps the MM’s have been working an order to get them up to this holding level over the past couple of weeks, and now they are loaded up, the MM’s are now happy to let the SP leg up to the next level and give the II’s thier immediate return, with the quarterlies due and possible other news there to help it on its way further next week. all goo imho, bring on the next few months! glta
breezy
03 May 2019
Happy days for JLP holders,roll on tuesday morning when hopefully the RNS will land with some good news.Have a good bank holiday weekend everybody.
the_old_trout
03 May 2019
Lift off! The news should be coming on Tuesday, and we are now so close to that resistance level at 3.8p that we should easily smash through it imo. Then it should be onwards and upwards towards the next stop at around 4.7p. I might top slice a few there, but certainly not before. Tot
miltonboy
03 May 2019
Lift off! maybe someone has an idea of the Quarterly numbers
Dubai_tDodger
03 May 2019
Lift off! Surging ahead today, but still no news ! DD
jaytee41
02 May 2019
Lift off! Jeez, I can’t do with anymore politics in my portfolio…
KALAN
02 May 2019
Lift off! Looks to me like GLR are in the same boat that BMR was - an asset with no way of processing it with the cash they had and diminishing possibilities of raising that cash. Kashitu cost some shares in GLR plus £100,000 - they have only paid £50,000 I believe and not issued the shares. At Star they have had a placement to try and get JORC through further drilling which may lead to a licence and then need to set up on site crushing plus transport and mining equipment - all in 6 to 7 months - I just don’t buy it as a plan. JLP, if truly independent of GLR can just buy the assets of GLR for say £300,000 Kashitu and £1.5 million Star Zinc with the licence. GLR won’t sell - then play hard ball - let em go under and scoop up the assets later. Alternatively buy GLR lock stock for £2 million - merge the companies and give the GLR shareholders shares in JLP. That is IF and only IF what Colin is saying about the assets prove to be true. GLR is in survival mode - JLP should take advantage if it fits with the Kabwe and Sable scenario.
the_old_trout
02 May 2019
Lift off! Hi dk, I’m glad to say that they new stocking foot waders were much more comfortable to wear than the boot foot ones I have worn for many years. I bought the wading boots separately and whilst they were very comfortable I almost came a cropper on some very slippery rocks, so I’ll be investing in some studs before the next outing. Caught a couple of tiddlers, but it was more of a recce trip for me getting to know some new stretches of river, access points etc. The serious business will commence on the next trip, when I hope to get out a lot earlier, then the evening rise as we move towards the end of the month. On the GLR deal I am assured that LC will be robust in his dealings with Colin, but the non execs should normally have a significant role to play in signing off a deal where there are conflicts of interest. I note that Chrisopher Molefe is on the boards of both companies, so he might have to stand down and leave it to Dr Mathews Phosa to represent JLP and Richard Wollenburg to represent GLR. One is a lawyer and politician, the other an investment consultant with a lot of experience in M&A. MP has a smaller shareholding than myself in JLP but I think it is probably more valuable than RW’s stake in GLR at the current share prices, so their motivation to fight their company’s corner might depend more on the number of options they hold, which I have not checked out. ATB, Tot
