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Evening all, exactly spot on SeisNav. The beneficiation of the feed materials to Roan is to be done at source, using relatively simple traditional and low energy usage processes such as gravity spirals , shaking tables, magnetic seperation and DMS, prior to trucking to the concentrators ( Roan and Kitwe ). Leon also stated that the refurbishment of the Northern Refinery ( Chambeshi ) and ramp up would take 14- 16 months from acquisition. Hopefully if concluded before the end of this Fiscal year (June), then could be in full operation before the end of 2024 Calendar year. If achieved, we would then have a combined copper output of 30-35 ktpa copper cathode. As far as I understand it, the expansion of Roan would take place concurrently with this, to achieve *8000tpa Cu cathode plus 6500 tpa Co(OH)2 product. The potential contribution from the Mufulira waste has not yet been quantified.
I think the resident metallurgy expert should maybe listen to the last presentation where most of the ‘concerns’ have already been addressed
Leon explains clearly in the Q&A that tailings dams are typically 0.5-0.7% Cu. This is upgraded on site to around 2.0-2.5% Cu before being fed into Roan. The output from Roan is > 11.0-12.0% Cu, that is what gets sent to Sable.
He also states that it’s not only the rate of material fed into Roan thats important but the type of material, which is important in maintaining a stable high grade output. The 550 tonnes / month of Cu is only an intermediate step, the actual capacity of Roan is “North of 800 tonnes / month” and that is the level they expect to reach eventually.
Ollie also made a point of stating that the delays we have had were NOT related to any technical or metallurgical issues which were previously unidentified.
I’d recommend everyone to listen again to the presentations on the website, particularly the Q&A section, I picked up a couple of things that I’d missed previously.
And that's based on (if they hit the 550 a month, which is very questionable on it's own.
Jonah that's not correct, the stated grade was 0.50% but Leon claimed that the transferable fine process made it the equivalent of 2%
If they're only going to get 550tpm out of it at full capacity then the grade is nearer to 0.25% in keeping with Leon 'fine recovery claims'
This is why they need to communicate tonnes processed and recovery ratios as well as total metal produced. Dwindling net cash and lower production guidance would ordinarily suggest poor grades.
Leon is hurting shareholders by not reporting to industry standards
Just the target processed output Jonah. Which obviously is the important part regardless of how much is fed in the front end. We'd know if grades were off though as they wouldn't hit it.
Jubilee bought into the copper tailings in Zambia in two tranches. RNSs related to the first transaction talk about 2% Cu run of mine material from third part suppliers but do not state the grades of the tailings in Ndola. For the second major transaction we are told
" The Tailings have been previously drilled and sampled to confirm both content and size containing on average 0.3% copper and 0.05% cobalt."
What other information about grades have we been given, and what are the actual grades?
Tell me when you get it
No at 550 tolling is maxed out and grade is only half of what Leon sold investors.
I know September is a while ago now but maybe he’s forgotten:
“ Project Roan has been successfully ramped up to MAINTAIN its design throughput rate of 110 tonnes per hour needed to produce the targeted copper concentrate for refining at the Sable Refinery”
Are you saying that since in your opinion grades are low Roan will be exceeding it's processing capacity when producing 550 tpm and that if grades were to increase up to expected levels it will exceed it's production capacity?
That goes to you as well, Basscadet, you don't even understand the word grade FFS, you think it means processed.
Who seriously buys something they don't understand?
I warned you last year that cash flow was negative, keep watching and learning rookie
Haha! I nearly spat my tea out! I’ve got him back on filter for a bit but it’s good to know I’ve got him worried. Maybe it was because I posted this on the HUM board:
https://tinyurl.com/2s4w563n
I thought they deserved to know what a snake they have over there, as he’s likely to turn on them too at some point!
Bushy, "It's evident from previous activity that siesnev doesn't understand metallurgy, their recovery processes or entry level book keeping.
He is on the other hand very good at shouting very loudly when he doesn't understand or like presented facts. He has nothing to offer with regards to company insight or the future landscape based on current environments. He is a clown that will cost people money., I do not believe that someone who relentlessly posts such poorly informed vacuous dribble could actually have any kind of financial interest in the market.
"
Projection?
Jammer... it's al about grade... Roan isn't processing the grade required to feed Sable.
Leon needs to confirm throuput and recovery ratio's so the market can disseminate LOM for themselves. Cash position aside, even if that is the biggest reason for the share price collapse. Industry standard reporting would go along way here now.
500 mcap deserved fit and proper standards which have been oddly refused by the bod, the market is correct to wonder why especially with a dwindling cash and production profile.
It's evident from previous activity that siesnev doesn't understand metallurgy, their recovery processes or entry level book keeping.
He is on the other hand very good at shouting very loudly when he doesn't understand or like presented facts. He has nothing to offer with regards to company insight or the future landscape based on current environments. He is a clown that will cost people money., I do not believe that someone who relentlessly posts such poorly informed vacuous dribble could actually have any kind of financial interest in the market.
I've concluded he's either completely and utterly out of his depth or he is a paid Sunday Roast ramper (There is a overhang to the tune of a billion shares). Either way if you want to keep your sanity and your money, I'd strongly consider filtering him.
The early copper production at Sable didn’t come from concentrate, it was from direct leaching of tailings, creating an intermediate product which can be sold for early revenue during the expansion. Leon has previously mentioned that they plan to do the same thing in the North. It’s a fair point that the refinery is a lot bigger than Sable, hard to say how much more work might be needed to re-commission it.
It’s very possible that they intend to start on the Mufulira s la g project once the refinery is up and running, that could happen concurrently with the expansion of Roan. That’s assuming they do secure the Chambishi Metals Refinery and it happens in a reasonable timeframe.
Obviously all speculation until we hear something official from Jubilee.
That would seem a very optimistic timeline SeisNav for a refinery 3 to 4 times the size of the one at Kabwe. Jubilee will also need a new concentrating facility which presumably would be a significant expansion of the Roan facility before any refining can be done. Personally I cannot see any production of saleable metal over and above that coming from the Sable refinery until the first half of the FY 25. Isn’t that why Leon indicated a 24 K tonne copper capacity by the end of the 2024 calendar year to analysts?
Other comments from other sources on this board seem to not understand why there is such a low copper metal production target fro the end of this FY. We all know about the problems that were not overcome until the end of February. The final 4 months will also be curtailed by the expansion of the front end of the Roan concentrator to be able to put through ROM material as well as tailings from early May as indicated in the Q&A following the investor meet presentation by Leon.
We hit our numbers come May ,7p will be a distant memory. End of.
Big numbers and very welcome if we can keep the timeline!
Leon had mentioned that the President had talked in the media about the refinery tax situation getting resolved in April. I’ve had a search for that and couldn’t see anything directly mentioning it, however there is this from 17th March:
https://www.times.co.zm/?p=123339
“ The Head of State has also assured Copperbelt residents that Chambishi Metals whose full operations have been on halt for more than two years will soon resume to revive the economic fortunes of the region.”
The rest of the article is behind a paywall but I’m guessing that this is what Leon was referring to and if so it pretty much proves that Jubilee is looking to buy Chambishi Metals which then sets the ball rolling on the Mufulira s l a g project.
Hey I’m not hear to convince anyone one way or the other (unlike some of the less genuine posters here) just to share information. If you chose to stay invested or not is none of my business, in the end we are all responsible for our own investment decisions.
Yes there are questions to be answered;
Can Roan produce 700+ tonnes / month of material for Sable on a regular basis?
What will be the capacity of the expanded Roan?
What is the status of the Northern Refinery(s) and when will we be able to close the deal?
All valid questions which I hope we will get answers to over the coming months. I will be writing to the company next week with some questions of my own.
With the Northern expansion, a lot depends on the government resolving the tax situation with the current refinery owner, I’ll be watching the news this month to see if there is any sign of that happening. Yes it could continue to drag on but from what I’ve seen of HH he gets things done and I’m hopeful of a timely resolution with this. If I’m correct about Chambishi (and I might not be) then it would be a big plus for his government to get that back in production and providing employment for the area as well as copper / cobalt capacity.
As far as timelines for getting the refinery into production it’s all guesswork but the obvious example is Sable. Here’s the timeline for Sable:
Acquired Sable August 2019
Copper refining line commissioned December 2019
First high grade copper cathode produced December 2019
Sold first copper cathode in March 2020
Cobalt refining line commissioned May 2020
So about 4 months from acquiring the refinery to producing copper cathode. From that point it was about preparing to receive concentrate from the under construction Roan plant.
If the Northern refinery is in good shape then maybe we can expect a similar timeline for that?
So much bull**** from this company . I see Colin the RAMPER Doing a interview on Sunday Roast on Thursday PUMP PUMP . XTR need money like all companies this Scammer and Ramper is involved in. I guess paid for interview WOUKD not trust that SUNDAY ROAST TEAM ONE BIT. They get paid for talking bull**** .
Happy
We are on the same page
Yes Dorfan, everything has come to a head. Leon has pushed out ( not exactly his fault) everything to the point the market is absolutely fed up. I do feel for him as he must be under enormous pressure now. If he had been more truthful last year I think the market would have given him more leniency. Now that water and electricity can not be blamed there is no where to hide. I'm taking what Leon has said as the truth but this is the final time.
Happydays
Of course you are right. Bad figures in the next 3 months or no further progress reports on Mopani, Chambishi & Mulfulira in Zambia or further details on the East Limb in South Africa is a game changer for me.
I agree to invest in promises is a no go.