Member Info for 4everlong

H1 operational update should be out shortly (Last year it was issued around this time).

Should have plenty of relevant info.

Some investors on this group have short memories! 😂 (or probably only bought in recently.)

Note that the share price has only just recovered to the point it was when the sale of the Cr and Pt business was announced in early June '25.

We still have a long way to go!

Harmprof I suggest that you email your questions to:

jmorley-kirk@jubileemetalsgroup.com

The AGM is on Wedenesday, so if you wanted a response you would need to send them ASAP.

@HarmProf

You don't need to attend the AGM but you do need to email your questions prior to the meeting. Management will then have time to prepare a response. Hopefully they answer many of the questions raised here. Given the performance of the company over the last 5 years, and the change of focus, this will probably be the most significant AGM for many years.

I had previously suggested that relevant questions are collated on this group, and then submitted. This would ensure that all aspects are covered and to remove duplication.

This also serves to avoid the possibility that members just assume that someone has asked a particular question, when in fact no one actually has! This has happened before.

On 13 Jan last year an operational update was released via RNS for HY1.

I assume then that there might be an operational update sometime next week. We should be able to extrapolate quite a bit of info from that, although the H1 interim financials will probably only be released in March.

@Jonah

Jubilee receive no income from SA wef the effective date of transfer. This has now been concluded and initial payments received.

Shares are held as security and released as per payment milestones with a significant amount retained till final payment.

We only receive accelerated payment related to production volumes.

An RNS re the partner for the LWP should be due shortly.

That will give Jlp a boost. ↗️

With a significant reduction in debt.

It's a re-release of the of the original proposed sale.

Reading it again today, it seems that the repayments are not accelerated when the metal pricing improves, as I intially thought it was. From what I can see the only aspect affecting the repayment period, is linked to increased volume, not the value. I seemed to recall JMK saying the repayment period based on their projections and current metal prices was expected to be 3 years? Maybe it's just the higher volumes than that reflected in the agreement that he used to determine this.

HappyD.

We are already past this fy's halfway point. The figures should be out soon.

The financials will look great but I think Cu output not so much. Here's hoping for significant news wrt developments re Molefe and LWP. Any major news there would be significant.

Yup.

We just need to ramp up production post haste.

It's time for Leon to start to justify the big bucks and options he has so generously been given. He's had five years and spent bombs.

A significant share purchase by him would also boost confidence, and demonstrate to share holders that he also has skin in the game. Many pi's here including myself, have bought way more shares than he has.

Put your money where your mouth is Leon. Its time.

And the alternative viewpoint is....

Opportunity Cost: Warren Buffett famously stated that "diversification is protection against ignorance". For investors with the expertise to pick a few winning stocks, a highly diversified portfolio might underperform a concentrated portfolio of top performers, meaning the "cost" is the forgone potential for extremely high, concentrated gains.

Key takeaway from the RNS.

"Whilst the Company has retained its investment in the Tjate platinum project in South Africa it continues to explore options to monetise this asset."

Hopefully we will derive a benefit from this. Could be very significant for Jubilee if they did.

Just as I posted the RNS was released. 4 min late for opening of JSE. Normally released on opening. Must be the holiday hangovers.

@Mikiesunday

31 Dec 2025 14:08

"Afternoon all. JMK has confirmed no RNS today as the JSE is closed. Update will be here Friday. No idea what the update is?"

Not sure how, or why JMK advised you, but it would normally have been issued by now if that information is correct?

@Couerdelion

If "copper is the only game in town now", we had to raise our game, and rapidly.

Jubilee have had 5 years, and spent millions. The time is now. 5.1kt Cu isn't going to move the needle or replace what has been sold.

Heres hoping for a cracking start to '26 with many positive RNS updates. The potential is there.

It's time to finally deliver on all the big talk, the clock is ticking Leon.

Let's go. 🙏

2026 is the year to prove to the market that the right decisions were made. It's all up to

Galileo share price down > 10% today.

Market cap is 11.4m.

Got cut off.

My concern is the lack of news wrt to the drilling program at Molefe.

Surely if they were making significant findings management would be rushing to get the prelim findings to market.

The lack of any positive info imho is a concern given Zambian performance to date.

Any positive news wrt Zambia and Cu would be significant.

No Bobbil.

The shares are only released relative to milestone payments. We derive no benefit of increased profits only a shorter repayment period.

@ HappyD

"How on earth is the sale still going ahead".

Happy.

As some have stated the vote was passed some time ago etc etc etc.

But, given the developments that have evolved since the vote, the fundamentals have changed significantly. At the moment the immediate downside would be $1m breakfee which would be insignificant relative to the current status.

Pt started climbing the same week that the offer was disclosed, and has continued on an upward trend ever since. Management obviously did not anticipate this, like many other developments, and failed to provide an upside for shareholders in this event. The only upside in the agreement for Jubilee was a shorter repayment period!! (Only because the business would be paying for itself in a shorter time frame!).

If management were committed to ensuring the best outcome for shareholders, it would not have been difficult to have put forward a vote as to whether the sale agreement should be revisited.

3 options could have been put forward with management providing a breakdown on each.

1. No change.

Proceed as per resolution.

2. Cancelation.

With the break fee paid. We were always told that there was a massive stockpile of bearing PGM material on hand that we didn't have the additional capacity to process. Hence the JV for the additional 11000 oz announced some time back. As per management most of the debt was for revolving credit facility for new Cr feedstock which would no longer be required. Then mothball Cr processing or sell only the Cr division to OneChrome for a reduced consideration.

3. Renegotiate.

OneChrome did the calcs for the offer when PGMs were >60% lower than today. At THAT price they thought they had a cracking deal. With current PGM prices they're laughing all the way to the bank!!!

If threatened with cancelation this close to the finish line, they would be crazy not to renegotiate given the current Pgm prices etc. Jubilee could propose a revision related to PGM prices that would work for both parties. Even a $15m increase in the sale price would hardly affect ChromeOne as the upside for them is significantly more!

Summary

Management keep failing to protect the owners of the company.

In SA they failed to secure life of mine contracts. This led to massive exposure with the obvious result. A blind man would have seen that one. They are destined to repeat that mistake in Zambia at Roan. As Cu goes up the suppliers will call the shots.

Same story. Rinse and repeat.

The CEO has little direct investment in his own company. Many members here hold considerably more shares than him, other than the shares he is being given. There appears to be little downside for management relative to the performance of the company. Income is guaranteed.

Ultimately the share price is a reflection of management. In a world where our 2 key metals are at all time highs, our share price is languishing at 5 year lows.

My concern is given the status of