Member Info for ActuaryBoi

Super Comprehensive Sies! It is very much appreciated :)

Also, interested as Gray, how you arrive at the Munkoyo low grade and ramp up therof.

Fingers crossed that we manage to bring LWP online soon.

Happydays. I wish I knew what the board was thinking to drop such big news on selling the pgm business (will be 1 month next week since the RNS) and no circular. The timing to say the least was absolutely ridiculous.

If they were going to announce it, at least have the circular to distribute with it.

From the website,

"A PGM exploration asset surrounded by two large PGM miners in South Africa.

It is a large undeveloped and defined block of platinum ore on the Eastern Limb of the Bushveld Complex

Independently appraised to contain a potential net 65 million ounces of Platinum Group Elements (PGEs) and gold"

@Sumo. If surrounded by 2 miners, I agree maybe somewhere there could be a connection of the mines? Might as well be an extension to the miners which will be beneficial for everyone. Lets say 10% of the estimate is actually PGM and then 70% reduction for costs. With current basket of $1600 per ounce, we looking at 65mn* 10%*30%*1600 = $3.12 billion (coincidentally almost equal to shares in issue lol).

I'll be more than happy to take that and move on

Didnt Jubilee just get mining rights in 2017? I assumed Tjate just stood there and no work or any operation had started on it yet?

Whatever the case, they should sell the mine at a decent price if they can get one from Sibanye, Imapala, Northam, etc. Venturing into establishing a mining infrastructure there will be costly and time consuming which will need expertise as well.

Agreed on copper shortage. We just need to start producing copper consistently.

Read many articles over the last couple days, and on LME copper is so close to $10,000. Many investors/analysts expecting 20% increase in prices over next 3 to 5 years.

If we can really get to 20k tonnes in 2 years, and take advantage of the price uptick, that will be phenomenal and worth the setbacks we've had.

If anything I'd love to see Tjate be sold for that 100bn mentioned lol

If middle east situation escalates, energy prices will rise accompanied by factors like: High Europe temperatures from this week, high LNG importing from Asia as lower chinese tariffs and hotter than average summer forecast, and need for Europe to conserve gas stockpiles for winter given they are already 15% below 5 year average. If monsoon season hits Indonesia with more flooding this summer, then more coal supply reduction. I doubt we will see 2022 coal prices, but if middle east situation does get out of control, should see higher coal prices through to Oct/Nov as winter stocking will need to also take place that time.

Dont worry Couerdelion. I am just investing extra funds at my disposal. I have invested in platinum, coal, natural gas, gold before and have found interest in copper which is why I am here. The necessary retirement and important savings are in relatively secure investments. Still have a good 40 years to retirement so I am willing to take some high risks at this points in life.

Good to know another fellow is on board here, in reinsurance i'd hope ;)

My confession time.

Some shareholders are selling up and leaving. Here I am, hoping and knowing this stock will shoot through the moon once copper is sorted. That being said, I need the SP to remain low for just a couple more weeks/months, while I liquidate funds from other stocks to blast in here while prices are low.

As an Actuary, the fundamental concept of our profession is risk management and spreading risk across different mediums. But for my stock portfolio, I am ready to listen to instinct and not my job. I am ready to keep 75% in JLP at low prices -> Go big, or go home. I am willing to take the risk boys! Sorry, not sorry. Here's to retiring in 3 to 5 years once this puppy takes off.

Let's just hope the man responsible for writing up the RNS is not involved with the circular. Otherwise, we will all be voting based on something no one understands lol

Chris1979, I dont think Jubilee will dig deep to mine Tjate. But if it really contains even 10% of the 65 million oz of PGMs, they can sell that thing for a good couple billion to another miner (This assumes a low PGM basket price of $1300 per oz and then taking into account costs).

Hell, I'd cash in capital gains that very day and ride off into the sunset.

Shuvlin

I understand we had the power issues and FY2025 will have less copper than the previous year. Probably around less than 3k tonnes even though we targeted 6k+.

Even with issue rectified, Roan is not producing how much we were lead to believe. Sable upgrade delayed from FY2026 Q1 to CY2026Q1.

I am aware of the scale we're after but to go from 3k to 25k in 2 years is a bit crazy, given the past experience.

But trust me, I want to see those high numbers as much as anyone here. I still intend to buy more shares but only once I see favourable copper news.

Chrome and PGMs should generate enough cash in H2 and along with sale of 10MT of waste project and non core assets, we should have enough cash for further Zambia expansion. I am aware chrome is volatile, but even a $10 to $ 20 increase from current prices will be significant given the large volumes produced. I still have a 30-35p target for this company based on good copper production... but just not sure on time horizon now.

Does anyone actually believe we will eventually get to 25,000 tonnes of copper. I personally believe one day, but in 2 years, never

Count be in as well Gray and HappyD :')

Honestly could not have said it any better Nelson. Bravo!

My worry is we will all most likely have to vote before October, i.e. before FY2025 results are released. Given H2 will have a much better performance than H1 (for both chrome and PGMs in terms of volumes produced, price, and thus margins), it will be too late. If only this deal could be delayed one more year - hell even 6 months, we would be more certain. As i say, this is all Ballz, causing me sleepless nights.

As for Leon's 25k to 30k target, Im at a loss for words. As much as I'd like to see it happen wholeheartedly in the shortest time possible, the man must focus on producing at least 8k to 10k per year first before we can even target the said target.

Should chrome prices spike to 400 even for 2 months, we could add $40 million to our cashflow which can be put into Zambia. Any extra cash is a plus which i hope they use to buy back shares rather than special dividends

Agreed that should it fall Seis, we are doomed but I just want to see copper results being stable and upward trending from Zambia. Only then may I be comfortable to sell the chrome operations

We were around 4.50p before the sale rns. Wouldn't be surprised if they kept hush hush about it then we would be 5p plus based on the pgm momentum

Https://www.barchart.com/futures/quotes/LU*0/futures-prices

I swear I read Leon's words in the RNS and my blood pressure sky rockets with anger.

But his podcasts always give me hope lol. If they manage to pull copper off in 2 to 3 years, i would not be surprised if we hit 30 p per share based off 40% margin and 3.1 billion shares

I am willing to hold this share for 3 to 4 years. But I want to see good copper results in FY2026. Everything is set up and running (yes some upgrades on the go) but still, would like to see at least 10,000 tonnes for CY2026