Any holders out there - there's some buying going on.....

StockMarketWire.com
Jubilee Platinum has received a formal offer from a major mining company for Tjate's Quartzhill farm.

Jubilee said it had received the ZAR75m offer on behalf of Tjate Platinum Corporation.

Jubilee is a Tjate Platinum Corporation shareholder.

Jubilee says it will be recommending the offer to Tjate shareholders.

StockMarketWire.com
South Africa and Madagascar-focused Jubilee Platinum is raising 4.4 million in a share placing to fund its 'mine-to-metals' strategy.

The company announced a placing of 31,585,714 new ordinary shares with major institutional investors at a price of 14p per share.

It explained that the proceeds of the placing will be used, together with existing cash resources, to support growth within the company's strategic business areas, through which Jubilee is implementing its mine-to-metals strategy.

Jubilee expects the Placing Shares to be admitted to trading on AIM and the JSE on 18 October.

Following the placing, the total issued share capital of the Company will be 288,121,806. The new shares will be placed with public shareholders and will rank pari passu with the existing shares in issue of Jubilee.

Leon Coetzer, Chief Executive Officer of Jubilee Platinum said: 'The Board of Jubilee is pleased with the support shown by our major shareholders and we welcome new shareholders as we continue with implementation of our mine-to-metals strategy.'

The 14p Placing excludes Retail Holders as usual, but does explain the fall to 15p now.

I wonder if it's worth investing at this level? - as things can only get better (famous last words), but I'll bet any institutions that invested did some research first. (Although it's NOT usually their money).... also, 4m isn't exactly a lot - will it last long enough, or is this a first-grasp?

Anyone else got a view?
I hold a few from Braemar... days.

what happens to the price of platinum when all motor vehicles are powered by electricity?

They'll stick it in the batteries, I guess....

JLP will dwindle away slowly.

Conroast not far off ,perhaps time to reinvest?
From March update.

Leon Coetzer, CEO of Jubilee Platinum commented: "It is important to emphasise that we are developing a company capable of achieving a Mine to Metal business strategy.

"The platinum ConRoast project is on track and will be operational by year end. The Tjate project's exceptional drill results again confirm it as a world-class asset and continue to present an excellent opportunity to develop a world-class platinum mine. I look forward to updating shareholders with regard to the Northam discussions and the Sylvania joint project as and when they conclude. The ferroalloy processing division is operating well and generating short term cash flow for the company. Its contribution to the overall business plan will increase with the commissioning of the first 5MW ferroalloy furnace in May this year.

"We continue to assess numerous small-scale near term mining opportunities, which are being presented to the Companydue to our ability to process platinum concentrates containing high chrome values. These opportunities are in-line with our focus on building our Mine to Metal business strategy."

http://en.wikipedia.org/wiki/Platinum

Notice of AGM

Notice is hereby given, under the Companies Act 2006 of the United Kingdom, that the Annual General Meeting ("AGM") of Jubilee Platinum ("the Company") will be held at the offices of finnCap at 60 New Broad Street, London, EC2M IJJ on Wednesday, 28 December 2011 at 11.00(GMT).

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Sorry Harry, what is the chart telling us??

Go long

No idea except what a disappointment this stock has been!

Seems the con, as in con roast applies to pi's, who have also been roasted. I got out around the takeover time but also got roasted.
2517

http://uk.advfn.com/p.php?pid=nmona&article=50553647


ORDINARY RESOLUTIONS
1. To re-elect Colin Bird as a director, who is retiring by rotation
2. To re-elect Christopher Molefe as a director, who is retiring by rotation
3. To receive and adopt the Directors’ report and the fi nancial statements
for the year ended 30 June 2011 and the reports of the auditors
thereon
4. To re-appoint BDO South Africa Incorporated and BDO LLP as auditors
and to authorise the directors to agree their remuneration
SPECIAL RESOLUTIONS
5. To authorise the directors to allot securities pursuant to Section 551 of
the United Kingdom Companies Act 2006, as set out in the Notice of
Annual General Meeting
6. To authorise the directors to allot securities pursuant to Sections 570
and 571 of the United Kingdom Companies Act 2006 and in terms
of the Listings Requirements of the JSE Limited, as set out in the
Notice of Annual General Meeting

bird deserves the bird!

From an attendee;

Have patience. It was the best attended meeting for a very long time.
It was also a very long gathering ending at 12:50.
I was late but was able to enjoy over an hour's discussion where many small shareholders pressed the Chairman for explanations and reassurances.
Some of the questions exhibited a vast knowledge of the Company and the answers were also impressive in their detail and honesty.
I have attended many agms and came away very impressed which is not always the case!

I am sure there will be postings on here with some of the detailed information disclosed at the meeting when the bb members get home.

From a another attendee.

I was there from the start. Colin chaired the meeting with Andrew Sarosi alongside. In fairness to firkin, There isn't much to report that we don't already know. Resolutions 5&6 were withdrawn due to lack of "major shareholder support."

The style of the meeting was usual Colin, more like a Piers Morgan inteview in my opinion.

I asked a number of specific questions to which I received sort of answers but no more than that really.

The new "conroast" Smelter is apparently 60% complete on site and will be commissioned in 2012! I did ask for a more precise answer but Andrew struggled with that one. still awaiting environmental permit.

There is plenty of third party Platinum concentrate stockpiled however.

Never the less we were told that a Conroast smelter has a 14 month payback.

Still waiting for the Tjate corporation to approve the sale of Quartzhill.

still Finalising the deal with Northam re: Boysendaal.

Colin still predicting plat to pass $2100 in the not too distant.

Not heard back from ministry re: tjate mining license yet, Colin not chasing yet. Once granted work has to start within 18months! hence not chasing.


Can't think of much more, no doubt someone will fill in the blanks.

No comment on Leon's absence officially, I asked Andrew after the meeting.I'm not going to break Andrew's confidence, suffice to say he had a prior commitment for the day that could not be broken.The date was set knowing he could not attend. Leon wanted to hold the meeting earlier so he could attend but the board wanted to issue the annual report before the AGM. these things happen in smaller companies.

Wolster, I'm not sure about that, The South African exchange do not allow companies to make financial forecasts,not surprising then that we have to work everything out for ourselves. Colin did say that the middleburg site was worth at Least $70m as it stands and that the company sp. only reflected that operation!

Also plenty of discussion around Tjate and it's eventual funding, circa $650m.
apparently in 2007ish Goldman Sachs were offering to fund Tjate to production.
There has been and is plenty of international interest now, from a bit of verbal fencing we deduced China among others were interested, Colin did not disagree and emphasised that while the rest of the world is looking backwards China is very forward looking.

I suggested we should sell off the Nickel and use funds in S.A. Colin agreed and said that was also the boards view. BHP inherited the tailings agreement through an acquisition as did JLP, BHP can't believe it although it is legally binding and make sure JLP follow the letter of the agreement. Don't forget Colin and BHP both have relationships with First Quantum who recently bought nickel assets from BHP not too far from our tailings dumps.

These things take time and in the meantime cash and cashflow is king.We should make it and I am sticking to my own sp.targets.

was that a pig flying passed our window or was it just another white elephant?