Member Info for Billyboy2fromiii

Hi,

He is also the non-executive director of Riverfort Global Capital. Agree that this does seem to a personal investment.

Regards, BB

Looks like they have bought 111m shares of the 491m issued under the capital raise, equal to 6.01% of JLP. 3.31% into the UK Smaller Co fund, 2.01% into UK Micro Cap Trust and 0.69% into MI Select Managers UK Equity.

Hope the other 380m have gone to similar long term "homes" .

Regards, BB

Hi,

Sorry for my ignorance but where does the sulphuric acid come from?

Regards, BB

Hi,

Perhaps the DFS/BFS will be funded via the...

"I look forward to providing a more in depth perspective of the strategic partnering plan in the very near future."

Regards, BB

Hi,

Another thing from last night is that once we get the updated MRE with 2018 results included, my understanding is there will be a complete rejig of the Production Schedule. The OP production potentially will cover the important (tax incentive) first ten years of production with UG production following. Does that make sense to you RedLee and as such is this likely to make a positive "materially" difference to NPV etc?

Hi,

Here is last nights presentation.

https://www.proactiveinvestors.co.uk/upload/SponsorFile/File/2019_03/1552038293_4---Amur-Minerals.pdf

Regards, BB

Hi Solis, I don’t think that is tonight’s presentation which was titled “corporate presentation” March 2019. It should be put on the website on a few days, I believe. BB.

Hi, just on train home so thought I would share my notes from the presentation. Nothing new and based very much on PFS Exec summary. Mine life probably will end up at 24-27 yrs. The 2018 figures will “significantly and materially impact upon PFS. Comfortable with $8 pricing as expecting “huge jump in pricing”. 3yr construction. 15 yr mine life used initially to coincide with mining licence but this will be extended. $300m free cash flow per annum after finance repaid. The road cost based upon everything from scratch and does not account for some of it just needs upgrading so the $129m is likely to be less. Discussions with JV partners. Russian govt very keen to get road built as will aid forestry industry to China as well as serve other potential mines locally. Mobile fleet cost based upon Caterpillar cost of $188 which could be switched to Belarus Company and save 30%. 155mt is light by time the updated MRE added. This will also allows reconfiguation of mine schedule with open pit to optimise production for first 10 yrs? Looking to see if can produce a copper concentrate and be paid 85% for this. The main point I have taken away is thT the PFS costings gave in effect built in the contingency that RedLee was concerned about. Road cost based upon while new road, mobile fleet potential 30% saving, most concervative offtake terms used, other metals in LGM option based upon Feb 19 pricing with only Nickel using forward projection.Basically, built in contingency with lots of further upside potential. All based upon my understanding of what was said at presentation. Regards, BB.

LME stocks down again, especially Live Warrants:

Opening Stock 197,682
Live Warrants 121,800
Cancelled Warrants 75,882

Live Warrants down nearly 7,000 since Saturday.

Regards, BB

Hi,

Do you have details of the Investors meeting please. Not seen details of this??

Regards, BB

Just updated my research........

My records show that from the $4m advance on 13th Feb the following payments of capital and accrued interest have been made by the issue of shares;

20/3 $100,745 1,722,264 shares issued
9/4 $100,460 1,722,870
13/4 $100,066 1,820,108
19/4 $100,110 1,821,943
26/4 $200,263 3,608,257
16/5 $200,789 3,375,994
20/6 $197,753 3,480,369
10/7 $163,589 3,543,960
25/7 $159,698 3,624,589
30/7 $151,841 3,448,963
23/8 $165,101 3,766,649
30/8 $203,835 4,693,712
10/9 $154,537 3,495,437
19/9 $155,184 3,491,171
28/11 $130,247 3,631,554
24/12 $110,410 3,650,492
02/01 $403,945 13,200,051
27/02 $217,490 6,193,997

So it appears that $3,016,063 of capital and accrued interest have been paid from the $4m received on 13th Feb by the issue of approx. 70.10m shares (from 20th March RNS up to and including 27th Feb 19 RNS).

All based upon my reading and understanding of the various RNS issued since 13th Feb. PDYOR.

Regards, BB

FitLike,

Thank your for your reply.

Again, testing my understanding.

We are hoping to process 6Mt of ore per year. At 0.73% nickel, this provides approx 43,800t of refined nickel annually. However, to achieve this, we turn the 6Mt of ore into approx 400,000t of nickel concentrate at KM and then truck this concentrate via the new road to the BAM railway siding In the first two or three years, we pay to have the concentrate toll smelted into refined nickel (and as a result lose the benefit of the Cu, Co, Pt, Pd to the toll smelting Company). When funds allow, we build our own refinery and cut out the cost of the TS Company whereby we then receive the benefit of the Cu, Co,Pt, Pd.

As your post yesterday alluded to, we can now get an idea of the trucking requirements. 400,000t of concentrate. Maximum 40t per load ?? equated to 10,000 loads per annum, approx 28 per day based on 365 days. With 338 km of road, avg speed lets say 40kmh equates to between 8 and 9 hrs each way. Allowing for loading and unloading etc and the return trip to KM, we are probably talking about a full 24 hour day per truck for the round trip. On that basis, we need a fleet of approx 28 trucks each making a return trip daily.

Things beginning to get interesting. Hopefully more so as we get more "meat on the bone" with further RNS's to come.

Regards, BB

Hi,

My understanding is that the "Living Document" PFS is due by the end of Quarter 1 but this will not include the results from the 2018 drill results and will initially be based upon MRE figures dated 20th March 2018. However, the "Living Document" PFS will be easily updated by simply plugging in the updated figures from the 2019 MOR when known.

I just want to check my understanding of the potential success of the 2018 drill programme. The following extract is from the 5th Nov RNS confirming completion of the 2018 season.

..............

· Drilling to convert Inferred resource to Indicated was completed during September and October, allowing its future use in the determination of a MOR. Drilling has been completed at IKEN (within the Ikenskoe Inferred High Grade Zone ("IIHG")), along the ISK deposit ("ISK") located between the IKEN and KUB deposits, and at the western end of KUB. Containing a combined total of 32.5 million tonnes, averaging 0.78% nickel and 0.22% copper, the majority of this Inferred resource has now been drilled on a 100 m by 100 m grid used by RPM Global ("RPM") to assign Indicated resource that can be utilised in the determination of a MOR.

· Newly discovered mineralisation located adjacent to IIHG, ISK and western area of KUB has been drill identified based on the RPM Indicated spacing of 100 m by 100 m. The March 2018 IIHG resource of 14.6 million Inferred ore tonnes, averaging 0.87% nickel and 0.25% copper, has been expanded laterally by as much as 81%. Drilling adjacent and between ISK and western KUB has also expanded the resource along strike and laterally from 17.9 million tonnes, at 0.74% nickel and 0.21% copper, by a projected 90%. In combination, the Company anticipates the newly discovered mineralisation will increase the March 2018 Mineral Resource Estimate ("MRE") in the order of 25 million, most of which is anticipated to be categorised as Indicated ore suitable for inclusion in development of additional MOR.

.............

So, from the first paragraph, we are expecting the M&I to increase by approx 32Mt to approx 150Mt (from existing 118Mt).

In addition, from the second paragraph, we are expecting a potential additional increase of IIHG M&I of 14.6Mt times 81% equals approx 12Mt.

In addition, again from the second paragraph, we are also expecting a potential additional increase of the area between ISK and KUB M&I of 17.9Mt times 90% equals 16Mt.

Therefore, we are potentially expecting combined M&I to be existing 118Mt plus converted 32Mt plus new 12Mt plus new 16Mt equating to approx 178Mt.

Assuming this is correct, at 6Mt annual, does this mean we potentially have close to 30 years mine life?

Just really wanting to check my understanding.

Regards, BB.

Morning,

LME opening stock 199974
Live Warrants 128580
Cancelled Warrants 71394

Although total stock levels have been pretty level,the live warrants have dropped from 139464 on 11th Feb to 135972 on 14th Feb to 128580 presently.

Regards, BB.

Hi Joe,

The current is;

Opening Stock 200082
Live Warrants 135972
Cancelled Warrants 64110

I am sure (didn't record it) that earlier in the week the live warrants were 139500. If correct, although stock levels are pretty level at 200,000, the live warrants have fallen by 3,500 (about 3%).

Regards, BB

Hi Noloss,

I did think about this yesterday. Will be interesting if it continues. Strange the different reporting though, if correct.

Regards, BB.

Hi FitLike,

I have read your link and I think I understand it now.

Basically, opening stock is the previous days closing stock and is adjusted daily to take account of new stock entering the warehouse and "sold" stock physically leaving the warehouse for delivery to buyer.

The opening stock is made up of live and cancelled warrants. The live warrants are stock that has not been purchased and is openly available to trade. The cancelled warrants are stock that has been purchased by a buyer but not actually left the warehouse yet. These cancelled warrants are not tradeable (no longer available for purchase as they have already been sold but not yet delivered).

So, the make up of live and cancelled warrants is important as it is only the live warrants that is freely available. Your comments yesterday suggest that whilst LME stock levels are decreasing, the cancelled warrants are not decreasing as quickly which means that the live warrants are decreasing quicker. This obviously means that the amount of actual available stock to purchase is falling at a faster rate than the total amount of overall LME stock (available and sold (but not delivered) stock). Therefore the level of live warrants (stock actually available to purchase) is actually more important that the actual opening stock.

I think I understand it now, thank you for link.

Regards, BB

Hi,

Isphahan is referring to the cancelled warrants in the LME stock (rather than the share warrants) in relation to the following post by FitLike;

There has been an interesting pick up in the draw down of nickel from the LME. Since the 10th January to today 6,666 tones of nickel has left the LME. Total remaining now stands at 197,952 tonnes. What's even more remarkable is the amount of canceled warrants over the same period has only dropped by 1,500 tonnes. It doesn't look to me like this draw down is going to slow down.

To be honest, I don't know the answer to could anyone explain please.

Regards, BB

Hi,

The presentation on the website has been updated.

http://jubileemetalsgroup.com/wp-content/uploads/2019/01/Jubilee-Metals-Group-Corporate-Presentation-Dec-2018.pdf

Regards, BB

Hi,

The 180,000 "sell" is actually my top-up. Spread 2.40 to 2.65. Bought at 2.52. Showing as a sell. How many more of these apparent sells are actually buys? Good luck to all JLP shareholders. Regards, BB.