Member Info for bottomsup

The central purpose of the reserve is to enforce the principle of capital maintenance. This legal doctrine ensures that a company cannot deplete its core capital base through distributions, thereby safeguarding the financial interests of its creditors. The reserve provides a clear, legally defined limit for any outward transfer of value to equity holders.

This mechanism also provides a framework for directorial fiduciary duty. The board must certify that a distribution is legal before approval. The existence of a sufficient distributable reserve is the first necessary step in legally executing a dividend or buyback program.

Components Used in Calculating Reserves

The calculation of distributable reserves begins with the company’s accumulated profits, encompassing all prior years of operation. This figure is then reduced by any accumulated realized losses that have not been previously offset by a reduction of capital. This starting point is essentially the realized portion of the company’s retained earnings.

Capital reduction is the process by which a company reduces its shareholders’ equity through the repurchase and cancellation of shares or a reduction in statutory reserves. Simply put, it is a reduction in the amount of a company’s issued share capital in order to increase the distributable reserves of the company, reduce accumulated losses or to return surplus capital to the shareholders.

Frogkid

Tier1

One can hope.lol

I would like to retire this year !! One can also hope.

I would like to see after repeat warnings a shorter receiving some of his own medicine. One can hope

It wouldn’t surprise me he has had companies enquiring how much would they need to offer for the company for Leon to tell them to come back when the resources are completed.

One hopes not.

I would like to see us all specially the long term holders being rewarded for their 3 year patience by regular dividends in 18 months time or a special dividend.

Hence the drilling for resource valuation

What price

Depends on what price the investment companies will except.16p +

I think the discovery of a second reef close to the first and the results of the drilling which some results they already have shown lots of copper could mean we have a large/ superpit.

As usual with out any more info we are stuck in Libo.

If we do have a tier 1 then say good bye to Molefe as some multi companies would pay a huge price for the assets or take the Zambia business over leaving us the platinum mine which is where JLP started from Lol

LME Copper

13322.50

1.18%

Sumoskier

I suggest you reread the RNS 19th November.

Where do you get 5 holes from.

The site has two drilling rigs of which two holes were completed before the announcement of the joint partnership on the Molefe mine.

Phase 1 is completed phase 2 has already started.

I suspect they are targeting not just the first reef but the second one discovered South of the mine which Leon announced on the Roast.

From the sounds of it both reefs are part of the joint partnership .

But this needs to be clarified by either Colin or Leon

Don’t worry about us large shareholders.

It those who hold who will gain the most.

In my case early retirement.

3 years and reducing.

The shares will need to drop a penny to wipe out all my gains this year.

The one point I agree is not to have all your eggs in one basket.

Good luck trading for a few hundred pounds

Not long to wait.

It feels everything is coming together.

Exciting times ahead on drilling results.

Which multi national company will we get for the waste dump will be very interesting and will send the share price into orbit.

Still think we will be taken out.

Question for us shareholders is the second reef with in the 4,000 hectares of the original land brought and will Galileo have 23% of this new resource.

Galileo has got in at the right time to see incoming coming in far greater than the 700,000 invested in the project

The results of the pit/ mine will be out either this week or next for the first phase followed by the second.

The second phase will be interesting as they are targetin the edges of the pit and I do believe the second reef.

Iam expecting to see a lot more work from JLP

Tier1 hmmm listen to the interview

Onwards and upwards

4.75 to buy

This post sounds very familiar to what’s on the Sunday roast.

RE: Molefe20 Feb 2026 07:39

A. The “Satellite” Pits are likely one giant Ore Body

Currently, Molefe is operated as a series of smaller “test pits” (Pit 5 being the main one). The fact that early drilling results “support the accelerated Phase 1 program” strongly suggests that the copper mineralisation is continuous between these pits.

The Implication: Jubilee will likely merge these small pits into one large-scale open pit. This dramatically lowers mining costs because you aren’t moving equipment between small holes; you’re running a single, high-efficiency industrial operation.

b. Potential for a “Tier 1” Discovery

The phrase “Early indications... already support the accelerated Phase 1” is a massive vote of confidence from the geologists.

The Implication: If the laboratory results (due later in Q4) confirm what they are seeing in the drill cores, it implies the copper grade and volume are better than originally modeled.

Why it matters: This is why they have already started Phase 2 drilling (targeting “virgin areas”). Common sense tells you that you only spend money on Phase 2 before you even have the final lab results for Phase 1 if you are very certain you’ve hit a significant deposit.

A reminder post sounds very familiar.

RE: Molefe20 Feb 2026 07:39

A. The “Satellite” Pits are likely one giant Ore Body

Currently, Molefe is operated as a series of smaller “test pits” (Pit 5 being the main one). The fact that early drilling results “support the accelerated Phase 1 program” strongly suggests that the copper mineralisation is continuous between these pits.

The Implication: Jubilee will likely merge these small pits into one large-scale open pit. This dramatically lowers mining costs because you aren’t moving equipment between small holes; you’re running a single, high-efficiency industrial operation.

b. Potential for a “Tier 1” Discovery

The phrase “Early indications... already support the accelerated Phase 1” is a massive vote of confidence from the geologists.

The Implication: If the laboratory results (due later in Q4) confirm what they are seeing in the drill cores, it implies the copper grade and volume are better than originally modeled.

Why it matters: This is why they have already started Phase 2 drilling (targeting “virgin areas”). Common sense tells you that you only spend money on Phase 2 before you even have the final lab results for Phase 1 if you are very certain you’ve hit a significant deposit.

Good morning frog boy

I can see Nevertogiveup and smelly short getting burnt this morning and expect 5p to be tested this afternoon.

It’s going to be an interesting 6-18 months.

Let hope any bid will get rejected as I can see this long term going back above 20p with all news coming to fruition.

Correction

23% of the mine.

Onwards and upwards.

Sunday Roast - Leon Coetzer, CEO of Jubilee Metals

Https://www.youtube.com/watch?v=kK06bT-9WpM

11:47 in

Best roast I have heard.

Looks as if I will be retiring early.

Jlp will be a target for a takeover

Looks as if the roast boys have a very good idea which two multi nationals want a deal

On the waste dump or will one of them go for the whole company once the results start coming out on the surrounding Molefe area.

Do have a listen to Leon Interview

Mind blowing what going on.

Looks as if two reefs are at Molefe and copper all the way down.

What under neath as sulphides were discovered in pit 5

Drilling results out on phase 1 in next two weeks

I have 4.9 million shares in JLP and 4 million in here.

Think Galileo has hit the jackpot owning 26% of the mine.

Funky sausage

Jlp has substantial more than 25 million.

14 million from non essential assets sold received over this year.

Platinum 18,000 ounces sold in first half

Profit sound 12 million.

Another 15 million instalment in June.

What they are spending it on.

Copper losses

New plant at Molefe mine

Mopani 11 million slag heap??

Filtering system added to Roan.

Buy backs May be or dividends

8 million loan

Acquisitions!! Has been mentioned