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Judging by the trades the RNS has been viewed positively. We should see a rise from here...
Better than last year, when we at 13p. Forward looking market????
BB
FWIW my view: Good solid results overall - no panic and delivering.
Behind the update you can clearly see the challenge of working in sub-sahara Africa (if you aren't providing the solution, you cant rely on others to provide the solution) and really exemplifies the hard work it takes there just to stand still, let alone drive a multi-year expansion. More work done than to be done imho - and by that I mean the harder riskier items are through for existing sites and refinements always easier after that.
Northern note to come and as well as hopefully starting that effort, should also free management time from that towards new venture planning.
Zooming out
I'm long from 2p here and operationally I still dont see any need to exit this potentially future giant company any time soon.
Fervently hope that this news is enough to rebase our SP, but as i'm not selling anytime prior to Northern expansion at a minimum its feel good rather than a need.
GLA
NtD
We are half way to target of 25k tonnes of copper per annum, just two years away.. 25k tonnes at 4k profit per tonne at modest price growth, is 100m profit.. at a multiple of ten that alone makes jlp a billion pound company.. great business and will only continue to grow..
Announcement of Northern refinery obviously delayed because we still waiting for the Government to announce who they choosing to take over Mopani ( which should be this month). For me it's clearly Sibanye and JLP.
I hope that in make ng to decision to expand Roan they have fully incorporated resilience into the plan (e.g. standby power.).
The benefits of multiple sites is that you spread the risk of outage, whether plant failure or power/ water. I would hope a few lessons have been learnt, although $8.5m seems a little low to include standby power etc.
Fingers crossed they have mitigated the risk.
Exciting times
Agreed, a really positive update. And some big news hopefully to come at the end of the month.
Well, that'll do for me. Really good RNS. Onwards and upwards now, surely. ATB
To nearly hit the copper target despite this year's disruption is a superb outcome.
To exceed the PGM and chrome 11% over target is excellent news.
Outlook for FY2024 and the strategy through to 2025 looks great too.
Statement from Leon Coetzer, CEO:
"I am pleased to report record production figures for the year across our entire PGM, chrome and copper operations despite numerous external power and water challenges. These numbers reflect a continued investment strategy in expansion opportunities across our business which we believe will continue to bear fruit in the short and medium term.
"In South Africa, Inyoni continues to go from strength-to-strength. Our expansion strategy will see production increase further in the year ahead, as evidenced by our guidance for FY 2024 of 42 000 PGM oz and chrome production stepping up to 1 450 000 tonnes.
"The production of chrome forms a vital part of the South African business' profitability and cost competitiveness, and I am pleased we were able to secure more feed at more attractive, market-linked terms in the period than our existing toll treatment contracts.
"In that regard, we are looking to take full advantage of this opportunity by growing production, while also looking at other opportunities similar to this one.
"Having expanded into Zambia in 2018, our technical research and process development work has allowed us to fully understand the extent of the waste and non-traditional ore opportunities. Jubilee's technical process development team has completed its on-going test work to both increase Jubilee's ability to process a wider range of these vast copper materials, as well as address key operational lessons learned to date at the Roan concentrator.
"As a result, and to better capture this opportunity, Jubilee has taken the decision to significantly upgrade its Roan concentrator facility to offer a unique capability to target a broader range of materials and produce three concentrate products for both refining at Sable and direct on-sale to the market.
"Our Northern Strategy continues to progress on several fronts, including advanced talks to secure a significant operational refining footprint, from where we are able to establish a central refining footprint in the area. The Jubilee team is working to complete the on-going pilot trials to optimise the targeted process solution for the treatment of the range of northern copper and cobalt wastes. These results will be used to inform the capital requirements for the project which has been delayed to August 2023. Final test programs includes scaling up further the pilot work to a newly constructed large scale piloting facility expected to commence during September 2023."
Hi Dorf, crikey, it was a while ago, but wasnt it when we bought our partner out of the southern project and took a larger share in the northern project. Think we took 100% of the south and increased to something like 87.5% of the north. Might have been 90%, but this is working purely from memory, so could be way out. Seemed a great deal at the time and if copper prices go anywhere near predicted, will prove to be a real game changer.
Hi Jack, thanks for clarifying I will go back and have a look .
All the best
Hi Frog Seis JLPP Micky
I definitely was not mistaken Slater actually confirmed that Leon had visited him and had been so enthusiastic about the deal that Slater decided to buy his last lot of shares at 16p .I am sure there must be a deal in the pipeline.
Hi Jack, I cannot recall the connection but this news could be huge.
Frog
Hi JLPP
If I am not mistaken Slater bought in at 16c so Jubilee had funds to some deal relating to Mopani so I am sure that is a deal we can expect in the future
Some more post weekend, wholesale moderating I see.
Obviously all is well after all lolz
@ Frogkid
Yip in my opinion, nothing to hang our hats on yet.
There are a number of possibilities, but I am not banking of anything happening, where JLP has no control over. Remember this is Africa, where money changes hands under tables and lands in foreign bank accounts.
Sticking to the current scenario of Chrome, PGM'S, Copper and Cobalt of the current operations we currently run. They should have improved on last year.
GLA & DYOR
There’s nothing 100% tying us to the Chambeshi Metals deal but all of the evidence points to that. Leon said in the last conference call that the President had spoken publicly about aiming to have negotiations between the Zambian Revenue Authority and the current refinery owner concluded by April. When I found the interview on youtube, the President was talking about Chambishi Metals. Leon has said the Mufulira S l a g project that we have bid for fits perfectly with our refinery plans. Chambishi Metals has a smelter which has already been used in the past for processing refinery s l a g.
Obviously the Mopani situation is important, if ownership changes hands, will we still be in line for the Mufulira project? My feeling is that the government will still retain an interest in Mopani and they will want the project to go ahead. Until we get confirmation either way, its all just speculation though.
It's all speculation is it not JLPP? Setting ourselves up for a fall if we are not involved. Absolutely huge if we are!
Do we have anything firm on this ?
Paul Kabuswe gave a press conference this morning. They are expecting to announce details on Mopani and KCM negotiations within this month. There was also a question on the status of Chambeshi Metals, the answer was pretty much what Leon has said before, negotiations are very advanced with the current owners.
Edit
To include AMC and GGP too
I think London South East is not considering just how many screen shots I have of boards (before and after) their wholesale moderating of negative comments about companies with no cash and huge stock overhangs.
All to eventually be sent to the FCA.
BMN
WRES
BMR
SOLG
JLP
ROCK
just a few I've been collecting that have all cost innocent people thousands upon thousands.