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

Hmmm - 170p to me is like donuts to Homer. Beautiful. Still, probably a pipe-dream although if the recent find is as good as they think....

Yeah, mineweb said it all, 3 'world class PGM deposits' and a MCap of 'only 30m'

Smart money will be moving in here, I don't expect a rocketing share price, but it will creep up as the potential is realised, and Numis saying 51p will not be in the minds of those speculatively buying before we get to 1.70(or more !)

LOADS of exploration ongoing, and results of that exploration will be coming in over the next 3-4 months, and the price will keep pushing up, with every confirmed extension to the resources.

Cheers,
PM

Jubilee Strikes Madagascan Paydirt

Business Day (Johannesburg)

September 6, 2005
Posted to the web September 6, 2005

Charlotte Mathews
Johannesburg

LONDON-listed mining explorer Jubilee Platinum had identified the potential for a large regional platinum and palladium mine at its Londokomanana project in Madagascar, it said yesterday.

Its first borehole showed an intersection of 0,23% nickel, 0,11% copper and 1,05g/ton of platinum, palladium and gold over the entire width, with a 1:1 ratio of platinum to palladium.


The wide intercept and shallow depth would make this an ideal resource for open-pit mining, it said.

"The size and scope of this discovery bears all the fundamentals required for a world-class resource, combining good grades with a suite of metals sought after in the market," Jubilee CEO Colin Bird said.

Jubilee will undertake further drilling to confirm whether the formation is continuous.

Jubilee's share price rose 23,29%, or 8,5p, to 45p on the London Stock Exchange following the announcement yesterday.

Numis Securities analyst John Meyer said in a note to clients that this result provided considerable encouragement, and that Jubilee had a valid target in Madagascar. But there was still a lot of detailed drilling and test work to be done before it could demonstrate a resource and establish a mineable reserve.

The strategy for many junior mining exploration companies is to identify a reserve and then sell it -- or develop it by forming a joint venture with a large company. Madagascar is relatively undeveloped as far as mining projects go.

An obvious partner for Jubilee could be Impala Platinum (Implats), which recently entered into a joint- venture nickel project on the island.

Bird said no discussions had been held with Implats, and Jubilee was keen to progress its properties on its own, as far as possible

How much would Impala or Rio Tinto offer JLP for this resource, if it is shown to be 'world class' ????

A lot more than the MCap of JLP, thats for sure :)

Cheers,
PM

Excellent post and research PM - thank you

Hi All,

Time for some calculations, hopefully they will be passed on to other BB's, because not enough people realise the potential value here ....

"In-situ value of total intersection is US$56/t rock at those metal prices"

"An industry accepted model for a bulk mining operation producing not less than 8
million tonnes per year is believed to be approximately US$20/tonne production
cost made up of approximately US$11 per tonne as direct operating cost and US$9
per tonne for capital recovery"

8,000,000 is the minimum in this model, who knows what level of production JLP or Impala or Rio Tinto could reach ....

For the model :-

8,000,000 Tons Per Annum
Value $54 per ton
Cost to extract the PGM's $20 per ton

$54 - $20 = $34 per ton profit

8,000,000 x $34 = $272,000,000 .... PROFIT PER ANNUM !

$272,000,000 at todays exchange rate equals 147,626,000 PROFIT PER ANNUM !

And JLP still only have an MCap of circa 30m !

"Immediately following the Placing the total number of Ordinary Shares in issue will be 69,922,828"

That would make the profit equal to around 2.11 per share, so if Impala or Rio Tinto bought the resource, for one or more years profit value, this stock would more than quadruple. If JLP did the mining, the stock would still more than quadruple.

Cheers,
PM

So are you in yet Paul? I've added.

Andy Hi,

15,500 shares so far at 54.45p avg :)

If YOO or LGB pop before JLP go up(quite likely !), I will add :)

Cheers,
PM

Nice one. If there is any further drift back I will be adding again, the potential is just so huge. It should only take one of these explorations to become proven reserves rather than probable to grab the markets attention and make the sp fly, but JLP have more than one!! I ain't parting with "mine" for a long-time yet.

Andy Hi,

LOL !

Me too :)

Some fool just sold 4,657 .... some people are just so impatient :))))

Cheers,
PM

Paul, when did you pay 54p for your shares, it hasn't been that high has it?

andy

sent you a couple of emails through MAM, not sure they are getting through.

pth

Andy Hi,

Had to buy in small chunks on the day of the Madagascar announcement couldn't get any more than 4k in the first 2 deals, then I could get less and less, as I bought more ....

769014 Buy JLP.L LSE JUBILEE PLAT. ORD 1P GBP 05/09/2005 08:07 0.45000 1500 1.0000 675.00
769011 Buy JLP.L LSE JUBILEE PLAT. ORD 1P GBP 05/09/2005 08:06 0.45000 1500 1.0000 675.00
769012 Buy JLP.L LSE JUBILEE PLAT. ORD 1P GBP 05/09/2005 08:06 0.45000 1500 1.0000 675.00
769001 Buy JLP.L LSE JUBILEE PLAT. ORD 1P GBP 05/09/2005 08:04 Executed with an improved price of 0.44975
TOTAL IMPROVEMENT = 0.20 4000 1.0000 1799.20
769004 Buy JLP.L LSE JUBILEE PLAT. ORD 1P GBP 05/09/2005 08:04 Executed with an improved price of 0.44975
TOTAL IMPROVEMENT = 0.20 4000 1.0000 1799.20
768998 Buy JLP.L LSE JUBILEE PLAT. ORD 1P GBP 05/09/2005 08:04 0.44880 3000 1.0000 1346.40


Cheers,
PM

Extremely disappointed that Shares Magazine didn't pick up on the JLP find in this week's mag. We need more exposure to show the world the potential here.

Yes I was surprised not to find any mention of JLP in this weeks issue. Maybe they didn't want to look silly after telling readers to sell after they were stopped out on their initial tip?

Possibly Chad. I know there are quite a few knockers of Shares Mag populating the threads on this site but I'm pretty happy with it. Having said that, they are usually pretty slow at holding their hands up and admitting to getting something wrong but very quick to point out when they tipped shares if they've actually risen.

Been keeping an eye on these since the Madagascar find, but Paul- some very large sells today, any idea why?

Rob Hi,

The only reason I can think of for the sells, is that some may think the price is close to EVO's target of 51p, but they obviously cannot see the potential.

The Investors Chronicle
Jubilee Platinum: still good value with Numis setting a 51p target.


Cheers,
PM

Garypat2 Hi,

I have an E-Mail waiting for you, but I can't reply to MAM-Mail, and you don't have MAM-Mail set up, I need your E-Mail address to reply :(

Send me your address in a MAM-Mail !

Cheers,
PM

Bought in here and there since you first highlighted this one Paul, and hold at the mo.

Have you seen what is happening this am?

Any reason?

Apart from the last press release can't find anything.