Member Info for Bluebelly

A question to ask yourselves wrt the SP is.

Are we near or at the bottom?

Or

Are we near the top?

No share is without risk.

BB

British Bulls must be following Kalan's charting.

Hopefuly a bottom has been formed and we can rise from here.

BB

Why do you state 'ongoing due diligence for the subsequent $10 million staggered investment'. how do you know they are doing due diigence?

The actual, verified facts regarding Jubilee's funding position.

The Core Purpose: The June 2026 vote was arranged strictly to give Jubilee the structural room to accommodate the strategic investor's equity-conversion preferences, alongside broader financial agility for their Zambian copper projects.

No Declared Second Stage: The company's official regulatory releases (RNS) do not detail a concrete, multi-phase $10 million follow-on deal or a formal corporate due diligence process with a major producer.

The Voting Reality: Resolution 1 passed successfully (91.15% in favour), giving the board general authority to allocate shares. However, Resolution 2 failed to hit the 75% hurdle (achieving 63.93%), blocking the immediate non-pre-emptive cash path.

The Official Next Step: Rather than dealing with a broken multi-million dollar investment agreement, Jubilee's finance director officially stated that the company "will continue to engage with its shareholders on matters covered by these two resolutions.

BB

Gotreal - I just posted what AI replied.

Are you stating the CLN will be converted into shares?

I was attempting to find out.

It is depressing with SP sitting at near a six year low!

I'll get back in my box now.

BB

Https://x.com/robert_ivanhoe/status/2066881563472572828

BB

To clear up last section:

Jubilee’s directors have 3 clear options:

Option - Action- Required Result

1. Offer a Rights Issue - Offer the shares to existing shareholders first to fulfill pre-emption rights. - Capstone can only take up remaining, unbought shares.

2. Restructure the TermsRenegotiate the $1.5m and $10m packages into a strict joint-venture or debt-only facility. - Avoids issuing equity, removing the need for a pre-emption waiver.

3. Call a Revised EGMAddress shareholder concerns about dilution and put forward a revised resolution. - Requires convincing institutional shareholders to change their votes.

BB

1. Financial Impacts on the $1.5M CLN

According to the terms of Jubilee's financing agreement with Capstone Copper:

The Loan remains valid: The $1.5 million unsecured loan note facility is legally active and drawdown can proceed.

Interest Rate Increase: Because the specific shareholder approval needed for standard conversion failed, the interest rate on the CLN will automatically increase to align with typical, higher medium-term unsecured loan rates

.Accelerated Maturity: The loan will now become fully repayable by Jubilee within 12 months after the drawdown date, rather than converting into equity.

2. Impact on the Broader $10 Million Strategic Partnership:

Negotiation Leverage Shifts: Capstone Copper held immense leverage over Jubilee due to an ongoing due diligence window for a further $10 million staggered investment.

Increased Risk of Withdrawal: If Capstone Copper insists exclusively on equity conversion over debt, this voting failure allows them to threaten to walk away from the wider $10 million expansion deal.

Project Constraints: The funding was designated for the accelerated development of the greater Molefe copper region. This failure puts pressure on Jubilee’s balance sheet to fund the repayment in 12 months, potentially straining the project’s timeline if a secondary solution is not found.

3. Structural Options Available to Jubilee's BoardTo fix the structural blockage caused by the failed vote,

Jubilee’s directors have 3 clear options:

OptionAction RequiredResult1. Offer a Rights IssueOffer the shares to existing shareholders first to fulfill pre-emption rights.Capstone can only take up remaining, unbought shares.2. Restructure the TermsRenegotiate the $1.5m and $10m packages into a strict joint-venture or debt-only facility.Avoids issuing equity, removing the need for a pre-emption waiver.3. Call a Revised EGMAddress shareholder concerns about dilution and put forward a revised resolution.Requires convincing institutional shareholders to change their votes.

BB

You said: What does this mean for the previously announced investor who wanted to invest in JLP via a $1.5m CLN?'Jubilee, the integrated copper producer and resource developer in Zambia, announces the results of the General Meeting held today 15 June 2026.

Resolution 1, an ordinary resolution to grant the directors authority to allot shares in the Company and to grant rights to subscribe for or convert any security into shares in the Company was passed with the requisite majority votes. Of the total votes cast, 91.15% voted in favour of the resolution. The total votes cast represented 38.37% of the Company's total voting rights.

Resolution 2, a special resolution to dis-apply pre-emption rights in relation to the allotment of equity securities for cash was not passed with the requisite majority votes. Of the total votes cast, 63.93% voted in favour of the resolution, and whilst being a strong majority votes, it is below the 75% majority votes required to pass the special resolution. The total votes cast represented 38.37% of the Company's total voting rights.'

The result of this General Meeting means that Capstone Copper Corp. (the previously announced investor) cannot immediately convert its $1.5 million Convertible Loan Note (CLN) into new shares under the originally planned structure, because the resolution to dis-apply pre-emption rights failed.

While the board obtained the general authority to issue new shares (Resolution 1), they failed to get permission to bypass existing shareholders' rights to first-refusal on cash equity issues (Resolution 2).

1/2

BB

This shows how excess wind turbine capacity could be stored ovenight. Every Supermarket/Car park could fit Solar Panel Roofing. With smart controls it could protect the grid from the damage being caused to transformers from excessive stepping that happens from high sun to cloudy/Wind to no wind.

BB

Currently around 2.82p and falling.

What a great entry price.

The 20DMA hasn't neen this low since Apr 20.

Should be able to double his money as a minimum. Guessing he knows a bit more than we do.

BB

Calendar year - Jan -Dec

Financial year - Jul -Jun for JLP's reporting

Hope this helps

BB

I imagine our JORC report would place most of the Ore Reserves (3) in the Probable column as opposed to Proved & the Mineral Resource (2) in the Indicated section. Hopefuly the figures would allow minimum price to be put on JLP books. The SP should then increase as more Ore reserves fall into the Proved category & the Mineral Resource into the Measured category, along with improved output of Copper production.

JORC Report:

1. Exploration Results: Early-stage data (e.g., drill core samples, surface mapping). Not enough is known yet to estimate a resource.

2. Mineral Resources: A concentration of minerals in the earth that can be reasonably estimated.

This is broken down into three sub-categories by confidence level:

Inferred: Lowest confidence; based on limited sampling and geological modeling.

Indicated: Moderate confidence; sufficient data to estimate tonnage and grade, allowing for preliminary mine planning.

Measured: Highest confidence; dense, highly reliable sampling data.

3. Ore Reserves: The economically mineable parts of a Measured or Indicated Resource. These are classified as either Probable or Proved depending on the level of economic and technical study applied (such as mining, metallurgical, and environmental factors)

BB

Jolly1 - Agree We are already paying interest on this loan, however the interest will increase if the 'No' vote wins & no CLN.

BB

Gilo - What broker put out that TP 6p?

TIA

BB

The 20-day volume weighted average price for the CLN is dropping nicely. He must be looking at recieving just short of 40m shares currently or more depending on the interest. Did JLP go looking for the investment or did the investor seek out JP. RNS states 'Jubilee has secured a US$1.5 million unsecured convertible loan note investment (CLN)'.

We are already paying interest on this CLN, however the interest wil increase if the 'No' vote wins.

It will be interesting to see how this is shown in FY26 Accounts.

BB

'140 tonnes per month better than i expected'

Wher did you get that from Mikie?

BB

Thanks Frog.

I left before the big rise due to Covid fear and markets being decimated. Just holding now , not adding, not selling.

At a certain price I may be out, but not sure if I could be all out. As Kalan says, there is a trading option but not with my full holding.

BB (not far from retirement)

But does the 'Jubilee Way' work with copper? Everything they did with Chrome/Fine Chrome etc increased production. Unfortunately we were hoodwinked into thinking we were producing 2m tonnes of chrome & as long as the chrome price was ok, we would rake in the profits. Moving into copper & changing the name of the company suckered us long term holder in, thinking we would replicate the production increases. We are now here hoping that something may actually work & production will increase exponentionally. Or the Molefe Eldorado will be genuine.

Good luck all holders.

BB

Not so much 'Decent'.

I know what you'resaying Kalan.

Just killing time, until some dissent News appears.

BB

Chatmandu 'It can't be stopped. The RNS states that you either approve the dilution or Leon takes the money as a high interest loan that has to be repaid within 12 months. I'm guessing the repayment will be achieved by sticking a gun to investors' heads with the option of 'dilution to pay our debts or insolvency'.

What would you call high interest? 25%, 40%

My worries are we may see a new 5yr low when annual production figures are known and the progress has been poor. The shares for this $10m investment could be issued around 2.5p-2.7p (20DMA).

How about, we risk the high interest loan and approve the share issue at the next AGM, subject to the SP being above 4p. If they have faith in what they are telling us, 4p should be a minimum by the the time of the AGM.

BB