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Clowney, why on earth would JLP want to sign a joint venture and give a government body any control over operational decisions? Jubilee's ability to be nimble is what allows it to take advantage of opportunity and ameliorate unforeseen issues. What Vedanta DOES show is that when you do not keep close to the government then you lose..... JLP is in a totally different position to traditional miners as we bring positive benefits to any locality in which we operate, being able to clean up the mess and pollution that Vedanta and all of the other historic miners have created and at the same time produce profit from material no one else can and, as was obvious from that clip, importantly, employment. This is a win in many ways for the Zambian authorities, and the backing we have is obvious. Your constant looking for ways to knock the company ... "JLP is Mickey Mouse,..." , your derogatory language, are SO obvious to absolutely everyone on here, that your credibility, if indeed you ever really had any, is totally shot away.
We all know the size of the empire built on the back of Mickey Mouse and Jubilee is certainly on the way. The rate of growth over the last couple of years has been amazing, but the next couple of years look set to eclipse that. The cobalt story will be the stuff of legends and it looks like Jubes is going to exploit this to the limit. The next 12 months are going to be sooo exciting! Some very exciting opportunities in Zambia coming our way I’m sure! Would love to see a new detailed broker note now earnings are clearly going to increase substantially for the next financial year.
gotreal
Oh please! JLP is Micky Mouse compared to Vedanta. Wake me up when JLP signs a JV with the Zambian government.
At the moment I would just like to see an RNS stating that Roan is up and producing. Hopefully it’ll help the SP! Doesn’t seem much else does!
Plainly you have little understanding of Zambian government MOs. They are wont to ride over ownership rights if they don't see a beneficial working relationship but being "in" with the government can unlock doors others wouldn't be able to knock on. Ask Vedanta what happens when you cross the government. So having a close working relationship with the Zambian governemnt, which JLP has through the politicking of Colin and Leon, is a huge advantage in Zambia.
Dorfan
If JLP were operating in China and it was a Chinese government official, then the relationship might be of value. Wake me up when that government official has a low-interest loan in his hand. With that said, there is no harm being liked by the government, just nothing to get excited about and it definitely doesn't do anything for the share price.
Homey
I was wondering how you would a nothing spin on what I saw.
I saw the wonderful relationship Leon has with the Zambian authorities which will lead to many more deals in that country as well Leon doing pretty well in South Africa.
Surely you of all people who call for balance cannot have missed the POSITIVE VIBES
Dorfan
Can I assume you are joking? I am talking numbers, past, current and potential and you are more interested into photos with a government official? Is JLP awaiting any governmental approval that would impact the share price? The answer is no.
The share price is constant/stagnant most likely because investors are hoping (as I am) that JLP will soon start delivering profits on the copper operations. The share price is also constant/stagnant most likely because the confetti cannon is set to fire in the next couple of months.
I really don't want to crow just yet but I believe the photo with the Zambian Minister of Mines and the sentiment expressed has played a big part in why the share price has stood firm in a sea of red.
Homey you are very quite
Two of the things that the ‘New Dawn’ government has been promising is increased copper production and job creation, especially for the youth. Getting Jubilee involved would help with both of those aims. With the dump being so rich in cobalt (and copper) it wouldn’t be a problem to truck it down to Sable to be processed either, at least until they get things moving in the North.
Thanks Seis for these intriguing posts and links. As your article says, the Nkana dump (dripping with cobalt) has been the subject of a number of attempts at beneficiation which have failed technically and/or economically. What it needs is a bespoke solution. One company in sub-saharan Africa springs to mind!
Then, as Charles emphasises, the 10% owned by a cooperative of artisan miners is problematical - leading to pollution, civil unrest, health issues and poor recovery rates. Kabuswe (seen nestled up to Leon in the pictures) is under pressure with this regard.
What is he do do about the army of scavengers highlighted in the striking images. If I owned a company interested in this project, the first thing I would do is highlight my credentials as a prospective employer.
Put another way - how many RNSs have we had about our job creation in South Africa?
Just a thought, could it be that the new Cobalt circuit at Sable is being used to test material from Black Mountain with a view to processing it later at the northern operation?
Charles, thanks for that, I thought it was odd that the news article mentioned Chrome, I guess they actually meant Cobalt.
An interesting summary of the history of Black Mountain and it’s unrealised potential:
https://humanities.unza.zm/index.php/JONAS/article/download/462/408
SeisNav
I believe Black Mountain is a 20 million ton **** dump, left behind at Nkana, Kitwe, from a copper smelter. The dump has Copper of 1.2% concentration and Cobalt between 0.35& and 4.5% concentration. I think it maybe possible to hand pick Cobalt from the dump. But illegal mining leads to death and Gang violence.
The locals see Black Mountain as an income source, the Zambian Mafia as a source of wealth and the current Zambian Government as a source to create wealth for all people. But the situation at Black Mountain gets out of hand from time to time, leading to deaths and violence. However Government thinking, now appears to be that Jubilee might take over this waste dump, generating long term employment for a number of the community, leading ultimately to wider economic benefits.
Zambia is in fact a very rich country for natural resources, but corruption, violence and Gang Land control has doomed most of its Citizens to live in abject poverty. Also some of the mining practices of the past colonial era were almost unregulated. And here the UN needs to become involved making grants to responsible bodies, to ensure safety for all people involved with Black Mountain; and welfare payments to local communities at Black Mountain who can not be immediately beneficially employed.