Member Info for 34DegSth

DB's been in charge for 6 years and still blaming the previous mgmt team!!!

MCM do however have great assets - but need to capitalise whilst there's still a supply issue (high coal prices)

The Chinese govmt/companies are very keen on Africa, and SAf in particular - MCM also seem to be in bed with the SA Govmt - wonder if this will speed of delivery re. the GSB MR, whilst Makhado stalls?

thx for the reply J
- based on your feedback, can I assume that the rail link will therefore be used as primary means of transport, and thereafter by road if rail problematic

whats the distance from Makhado to Musina? I'm invested in another company that are paying $3/t over a 28km round trip (PGM bearing material), of which would be rather expensive re. trucking coal (far less $ yield/ton) over a longer distance - hoping that this means of transport will be the exception to the norm

Question(s):
- Whats the distance from Makhado to Musina? My take is ~40km
- Why are MCM pushing for expensive Road Transportation, when there's already a far cheaper Rail Link to Musina (Musina has the main rail links to the coast(s) RichardsBay etc)?

MVZ (aka jonathon1, jonathon1970, etc etc, ..and let us not forget the massively annoying jonmor) – how many times do you have to post (#1 poster on this site by number) to tell us either: 1) the sp is down; or 2) that Leon & Colin are clowns having slipped on target dates

I visit these BBs to pick up on Interviews that I would otherwise have missed, interesting links re. articles, etc., and each time I log in THERE YOU ARE with a MYRIAD OF WORTHLESS REPETITIVE RAMPLINGS

I see Jubilee is a ‘Value Stock’, and as such there are high associated risks. This is why I and others have invested, and as such have to accept a high level of risk. Jubilee are also price-takers, and as such suffer when commodity prices are low. Yes, they have missed a few dates, but this is understandable when constructing plants of these sizes, or developing groundbreaking new technologies/processes (I’m 100% at ease with Leon in charge, and could picture the space if say instead you were at the helm – would make AB from BMR look like a genius). They are however in a very interesting space, and could (emphasis on could) be very close to great success.

Your postings clearly show: 1) you have very little understanding of what Jubilee are trying to achiev, and 2) that you are of very low intellect (ie. an id%%t)!!!

Agreed, I made a similar statement re. an earlier post - a neutral external auditor should easily be able to ascertain the lands value (re. surface rights)

Based on DB's correspondence, my take is the MR should give them access to commence mining, with the compensation to be determined and paid at a later date - question: what portion of the farm will be affected by the Mining Activity?

correct Hemmings8 (re. my posting of MPRDA link) - agree that the Mining Right supercedes the Surface Right - the Surface Owners must merely receive 'Compensation' (section 7) - the amount thereof (R20m offer, but R200m demanded by owners) should be easy to determine - would be keen to see their annual turnover as well as their purchase price, AND what MCM paid for the other 4 purchased 'Makhado' farms (ie. Windhoek; Tanga; ..).

Saw a 'ticker-tape' headline yesterday in SA that Mantashe wants to quickly amend the MPRDA - Ramaphosa (narrow 52% election win over opponent) is also under pressure re. accelerating the Land Expropriation - ie. not his choice, but has to appease other 'ANC opposition' party members in his cabinet! Also under pressure re. Chinese investment (SeZ etc)

With elevated Coal Prices, can understand a delay re the 2nd CGA acquisition, but NOT re. the disposal of Vele!! (slightly more Minable tons than Makhado!!)

My short-term hope is for the GSB NOMR to be granted - the SP increased 7X as per Makhado NOMR award (but gave back all thereafter)

https://iclg.com/practice-areas/mining-laws-and-regulations/south-africa

Re. PlatCro - 1.25mt of Tailings acquired in Mar'2017 - now almost 2mt - has therefore grown by 700,000t since (or 47,000t/pm!!) - Northam will ramp-up Prod to 60,000t/pm - THEREFORE giving this operation a life expectancy of just over 12 years at 60kt/pm, and thereafter indefinatly at 47kt/pm!!! The additional 700kt must however be purchased by JLP at 3.13 pounds/t - (ie. 2m pounds - hopefully from available cash or profits from PlatCro) - BUT, should be highly profitable, as JLP Earnings will be almost 4X that!! Still a lot of (tobe) answered IF's (eg. Kabwe model [will know by end Jun/Jul] and DCM Plant Mods [will know by ~Oct?]), but things are starting to look very good moving forward ...

+ the rest of my post (was too long) Part2: .... At 45,000t/pm input, the PGMs should accumulate faster than they will processing at 1000oz/pm, of which points to further production increases - quite a few ifs re. DCM Cobolt: Leon was extremely excited at last months Investor Roadshow re. Cobolt (next/imminent project??) � Co currently $90,000/t (and like Vanadium, has most definite Supply shortages, with Demand to ramp-up substantially moving forward) - Cape Lambert Resources, with very little Tailings experience have just landed a 50/50 Co Tailings JV in DRC � 5 year project (2000t � 3000t pa), with projected Revenue/pa a mammoth $180m to $270m!!! Agreed, its been a long road, and there are still a few IFs, of which June-Oct should have answered most thereof, but the potential moving forward is staggering � sentiment can change very quickly!!!

Perhaps the current SP negativity is directly proportional to the RELENTLESS NEGATIVE NIT-PICKING currently taking place on these BB�s!!!! Agreed that there have been a few hiccups of late (ie. Hernic Dec breach and DCM partial re-design to accommodate PGMs), but the Jubilee landscape is looking pretty appetising at the moment, albeit with a few IFs to overcome � one needs to bear in mind that Leon and co. commenced these very-large Tailings projects from scratch, with a very steep learning curve, of which HAD to have a few bumps along the way Hernic: 2101oz from a mere 39734t for May is pretty damn good � the target is 2500oz from 55,000t, so the current Efficiency is well above that Kabwe: the latest huurah is purely between BMR and BlueSquare - $500k is a very large number, so BlueSquare HAD to have been assisting BMR LONG BEFORE JPL entered the fray � JPL have been the party that negotiated/presented to the Zambian govmt re. the licence reinstatement � very much doubt that BlueSquare had much to do with this � the shares that BMR are to sell to pay-off BS, were already issued to BMR as per the JPL purchase of 29% of BMR � all that JPL are doing is relaxing the sale thereof (�lock-in�) � the sale will only be to the value of $800k, and will be controlled by JPL � JPL have to ensure that BMR don�t go under, but in doing so, this strengthens JPL�s position to acquire more of BMR�s shares for next to nothing Kabwe should be massively profitable � Leon has stated on a few occasions that there is �$1bn of REVENUE in the tailings� (note emphasis on actual tangible Revenue) PlatCro: not bad re. a paltry $3m acquisition (albeit via share dilution) � with Northam doing all of the work from now (baring the transport) � 2800oz pm from 60,000 is very similar grades/extraction rates re Hernic, with the majority of Earnings going to JPL (another IF) � this also opens up the door for JPL to partner Northam re. further ventures (perhaps with Northam carrying most of the capital costs) DCM: largest �hiccup� area of late � but with very very good Earnings potential moving forward, once plant issues rectified/tuned (IF � will know by Sep/Oct)� We now know that Earnings re. Chrome shared 50/50 with the �owner of the material� (re. BOTH Tailings and 3rd party)[not bad at all, especially re. the more lucrative 3rd party material!!], and JPL takes 100% of the Earning from PGMs (re. both Tailings and 3rd Party ROM) � plant has 45000t/m capability � assume 22500t/pm re. Tailings and 22500t/pm re. virgin 3rd party ROM - Yields should be 1t per 4.25t of Tailings, and a substantially better 1t per 2t of virgin 3rd party ROM. At 45,000t/pm input, the PGMs should accumulate faster than they will processing at 1000oz/pm, of which points to further

Hi Bozmo, thx for this reassuring feedback!!! Having Mantashe as the new Mining Minister is far more encouraging than one of Zumu�s corrupt Leutenants (Zwane) � he knows the industry, and like Ramaphosa, is business driven and honest � the $10bn MoU/A from the Chinese re. SEZ is also encouraging Amazing how MCN�s share price has been driven down by so few and such low volumns � - the SP can recover/grow, with a few pieces of good news - remember clearly how the SP increased 7 or 8X re. the issue of the makhado licence .. a 10X PE is fair for MCM � will run a few calcs later

Hi Bozmo eagerly awaiting your feedback

Hi Bozmo Agreed � things are going to plan, BUT taking so looooooong I do agree that a few positive RNS�s will have an immediate positive on the SP � the question is when? A few questions re. your post of yesterday (you�ve obviously done your homework, so very keen to pick your brain): - How do you know that Off-take is 75% done? - How do you know that Land-Access has been signed-off by the minister? - What info do you have pointing to the granting of the GSB Mining Right? - The latest Financial Presentation indicates that the Uitkomst N Adit Geo-Drilling to be completed by Q3 2018 - Could you please share the link where PeelHunt places this �4/share pre-GSB valuation?

There�s been some really good posts on this site from some well informed posters. I have a few questions, of which I�m hoping that you fine folk can share your thoughts: Q1: Re. Uitkomst � produces/sells both Metallurgical & Thermal coal � 6mth Revenue to end Dec�2017 was $17m from 308,275t sold (p8 from Interim Results Presentation pack). This equates to $55.15/t. However, on p26 of the same report, it states that at the end of this period, Metallurgical coal and Thermal coal was $200/t and $90/t respectively. Why was the achieved average sales price only $55.15/t? Q2: Re. GSP Mining Right (~ 5X Makhado) � a poster (I think that it was �hedger123� on LSE) was upbeat that the licence would be awarded ~ Apr/May 2018 � hedger123/others: are you still of this opinion, and what are you basing it on? I clearly remember when the Makhado mining licence was awarded � the share price increased 7 or 8 times very quickly � the anomaly though, was that the SP started running a few days before the licence was awarded!!! Q3: Re. Makhado Land Access re. Salaita & Lukin farms) � a poster (I think that it was �hedger123� on LSE) was upbeat that that this would be resolved ~ Apr�2018: are you still upbeat re. a decision very soon, and what are you basing this on?

My take is that the following two factors have most contributed to the SP free-fall: 1) 1:20 Share Consolidation - cannot understand the logic re. this move!!! - the effect of which was immediate, and profound 2) the $87.5m Vele Impairment - this is massive! - Vele's resources are comparable if not better than Makhado (361Mt vs 345Mt), or 15X the size of Uitkomst (23Mt) [Uitkomst purchased for $20.6m) - Eagerly awaiting MCM's plan (end June?) for Vele - a Sale?, and at what price? the BB's punted sale value of a paltry ~$20m-$25m is concerning