Member Info for charles432

dorfan 01
Pleased to read that I am not the only idiot who bought some jubilee around £1. Have made up since from 2p upwards but not all plain sailing. But I never have forgiven CB for failing to tell s/hs that Tjate was so deep the chances of Jubilee developing it was nil. The PGM prices were just not high enough and the capital investment required from Jubilee s/hs was just astronomic.

Agree August 21 but Jubilee BOD appear to have missed this area. And anyway they are so bad at keeping the market informed about Jubilee's progress, that I am not surprised they miss events like that coming from CoE

I think Bushy Tailed is a share dealer, whereas I am an investor in Jubilee. The sage of Omaha says, " It is not a matter of being in the Market, but how long you are in the market".

The DCM mine now belongs to Cheetah Chrome , a China company, includes the PGM rich tails stored thereon by Jubilee according to South African High court judgement. But the competition commission imposed conditions on Cheetah due to its takeover of DCM. No raw Chrome ore maybe exported from DCM, it must be crushed, screened and processed and converted into Chromite in South Africa prior to export. This is one of Jubilee's processes, and now Cheetah needs Jubilee more than Jubilee needs Cheetah. Patience and it will all work out without anymore legal proceedings.

Some time ago when I did my calculations for fresh PGM tails available for treating at Inyoni, I concluded that Jubilee had more tails available than Inyoni could treat. Thus when I read Annual report etc I concluded Jubilee needed to keep the JV running with Northam (Eland) in order to maximise current PGM revenue. I also concluded that LC had got a business agreement with Northam, to keep the JV between Windsor PGMs and Eland in operation.
Now I expect LC to shortly announce the duplication of Inyoni on the Eastern limb, until such time I have full faith in LC that he will take whatever steps are required to maximise Jubilee's current revenue stream. (obviously non of this revenue stream is loss generating).

Thanks Basscadet
Matters get better and better, now I am retired(chem.eng) but I do understand that GaN (Gallium Nitride) has a promising future in computer chips. Whether it is present at Kabwe I do not now, but probably yes from current mix of minerals found at Kabwe. But certainly if present concentrations will be very low, but the major problem will be how to collect and concentrate such a material.

But all very interesting, Jubilee is in the technology of recovering metals from historic waste mine dumps, and rehabilitating the waste site. I have often thought Jubilee's activities were some what foreign to CB who is a miner. Used to creating piles of mine waste and the higher the ore body concentrations the better.

But we must thank CB for bringing LC into Jubilee, providing the copper contacts in Zambia, and knowing the time to step down.

Thank you CB.

3cardbrag , From Reuters, Chinese Nov copper metal imports 510402 tons highest since March, increased for last 3 months.
Concentrate import copper 2.19 mt, highest since Dec 2007. Then I think name is La Bonbas mine in Peru shut has more labour problems.
In fact all South American mines currently suffer from labour problems from time to time. Thankfully Jubilee not a mine, but very much moving into copper production/recovery..
I don't actually like China at all, would happily nuke the whole lot, because of the way they eat wild animals, traffic live pangollins (sweet armoured plated ant eater from Africa and Asia). The Chinese think Pangolins scales are afrodisiacs like rhino horn. (apologees all I can not spell, taught to spell in WW2 using coloured Alphhabet , but totally coloured blind), and anyway anything which just might result in more Chinese is no good.
But if China wants more copper I will happily supply them, because if not Jubilee then the Aussies etc will step in.

I think the Jubilee share price fall is due to market forces. The new covid variant (moronic anagram) is gripping the world more and more by the throat.

After two years some people think what the hell, live drink and be merry for tomorrow we die.

But a majority of people don't think and need to be lead. The world's leaders are in very short supply, Islamic extremists, Russia and co. communist dictators. Western Europe, USA, Central and South America mixture of alright, dictators, christian fanatics. Africa torn apart in areas by civil war also Islamic madmen.

India gripped by fear of next wave, Burma etc Military rule.

China most populous state on earth rigid control by Communism, and note the Communist Party can not afford to fail as that will show their leaders beliefs as wrong.

Now that is enough, Jubilee is a well organised, well run company. But has in current investment climate, as I tried to illustrate above too many shares in circulation. Stock markets are driven by fear and greed. Even a small sell of shares in Jubilee depresses SP as buyers absent.

But the Pandemic will end, we have vaccines. The Black Death did last years but eventually burnt out through lack of hosts. And we are light years from the Black death scene, although as a Martian arriving recently in Australia with lock down, you would think the Black death was returning.

Solution to it all, be sensible and stop worrying as that gives ulcers and so on. Next take time out, enjoy the family and friends and Moderation in all will see us all through.

Having lived and worked in Southern Africa for some 32 years, I must tell everybody the place is vast. The DRC is 24 % the size of the USA, and sure some areas are very dangerous, and for years it was the major colony of little Belgium. In fact a play ground for their Royal Family, for example a Herd of Dairy cows in the centre of the colony, all walled in, to ensure Royalty always had fresh milk when in residence. Certainly treated the local population as slaves, and more recently indentured labour.

But because the DRC is so large and diverse, some zones are almost independent. Now the Copper belt runs between Zambia and the DRC. The copper cobalt reef is no respector of old colonial boundaries. But if these people are ever going to be brought back into the modern world, industry has to operate in this areas. Also I do not believe the DRC side of the copper belt is anymore dangerous than the Zambian side.

I always remember South Africa, where the whites voted freely to hand over to the black population. Unfortunately Mr Mandela was an old man who came under pressure from so called freedom fighters returning to South Africa. Thus when South Africa had a large overseas arms order, the Western Nations fell over themselves to win contracts. British Companies happily offered backhanders to leading South Politicians if they would push for themselves to be granted a contract. Corruption arrived care of the West on a large scale in South Africa, one of the leading recipients was Jacob Zuma. Now the New president Cyril Ramasphosa has had Zuma arrested for corruption , result we have initially the Durban Zulu riots (Zuma is a Zulu), but Cyril takes a firm hand of the situation, moves the army in and ends the troubles. Surprise surprise many black residents of South Africa did not want their super markets looted, they have no wish to become like the rest of Saharan Africa.

It is no use giving a country a negative outlook, when many of the problems present have historic roots linked to corruption from the USA, Britain and Europe. For years the DRC was controlled by a very brutal dictator, ably supported with arms from the USA.

A reason I invest in Southern Africa is because I want the area to succeed, and not be taken over by the Chinese.

Sable is a centre of excellence for Jubilee.

It is on target to produce 10 kt copper per year from the Roan concentrate ; with an additional 4 kt copper per year from local private ROM supplies.

Sable has a small pilot Cobalt plant, and this pilot plant will enable Jubilee Engineers to understand how to extract Co from a variety of waste dumps. There is plenty of Co in the waste dumps in the DRC. But it is no good rushing into the DRC before you know the optimal manner to recover Co from a variety of dumps.

Sable is also undertaking research into the leaching of copper sulphides.

In the interim the Sable environmental manager will be targeted with keeping the town of Kabwe as free from toxic Zn/Pb dust as possible. The most toxic wind blown waste dumps will have to be covered over by vegetation in the interim, it is well known that there are a range of plants which will grow in such toxic soils. A group of workers provided with the correct PPE will be able to undertake this task, and it will provide employment for low skilled workers.

Waste Dump Volume Mineralisation Concentrator Cobalt Tons

Luanshya 161 mil. tons Co 0.05% Lechwe 80500

Kitwe 141 mil. tons Co 0.05% Elephant 57000

Mufulira 275 mil. tons(est) Co 0.05(est) Elephant 137500(est)

Note. (1) Mufulira is still being measured and sampled, the above figures are my best estimate.
(2) All Jubilee Cobalt is green unlike some from the DRG.
(3) The total Cobalt tonnage above is 275000 tons, of which 55 % maybe recoverable ie 137500 tons, but still one hell of a lot of Cobalt.
I hope other members will upgrade and improve my figures.

Zambia's new President requires all the quality long term jobs he can get for his country, plus foreign investment and foreign exchange.
Thus it is very appropriate that Jubilee should go all out recovering Cu and Co at present. It must also be noted that Cu and Co waste dumps are toxic, especially for water courses, and the sooner cleared away the better.
The issue of cleaning up Kabwe, entails removing the zinc first then the lead and finally the vanadium, and is a low key operation. Obviously material will only be moved when wet, with the town of Kabwe suffering from lead dust blowing off the waste dumps during hot dry weather. The Zinc circuit at Sable had been due to come on line end 2021, but with the change of circumstances current in Zambia , one would hope the United Nations would subscribe to the grassing over of the Kabwe Toxic lead dumps in the interim. The mess in Zambia has largely been created by the industrial world, and for a small fraction of the wealth they took out of Zambia it is not unreasonable to expect them to repair past damage; if not the UN then the companies responsible for making the mess.

I read the Annual Report as CB receiving cash outside sale of shares as:
1). Salary £80000 2).Bonus £1200000 3). Benefits in kind £10896 4). Arrear remuneration £248667
1). Here CB is the only director to receive benefits in kind , £10896 why?
2). CB's bonus is way over his salary indicating he is undertaking a large amount of work for the company over and above his salary, it would be useful to know what he does do outside his salary to justify £120000 .
3). One can understand that CB is owed salary from the past but how has the sum £248667 been arrived at?
I have absolutely no problems with payments to other directors, but having suffered from CB's cannon in the past I just feel he is having the cream whilst long suffering share holders look on in amazement, and wonder how much he is going to cost next year.

I agree Homeytheclown, Windsor PGMs are still operating and although in the past I have been informed this operation is currently incorporated into Inyoni . Now the current annual report indicates to myself that Windsor PGMs still has a unincorporated JV project with Eland mine, ie Northam where the PGMs are recovered . What the financial arrangement is now between Windsor PGMs and Eland is totally unknown.
But since Inyoni has material trucked from the Eastern PGM limb in South Africa, it certainly does not have the capacity to take on material from Windsor PGMs. Thus as I read it Jubilee currently has two output sources of PGMs, one Inyoni and two Windsor PGMs, with Inyoni forecast to produce at least 50000 ozs.PGMs for a full years operation, and the PGM output from Windsor a bonus output of undisclosed quantity. A question to be answered at the annual general meeting as to what is happening with Windsor PGMs.

Thanks Northern Shark for Info
In my ignorance(engineer), I assume £17m has been written off profits as the Nickel Tail Dumps in Australia are now considered to have no value and the earnings per share adjusted accordingly.
Problem I now perceive, to the best of my knowledge Nickel tailing dumps are toxic. Thus if Jubilee no longer has an interest in these dumps who is responsible for them, making sure no toxic material leaks into the environment. Or am I to understand Jubilee has abandoned all claim to the nickel tails and they remain the property of the initial miner who created the dumps. I just cannot believe they now are the responsibility/property of the Kangaroos.

CB is grossly overpaid for what he does for Jubilee, it is time he retired. Jubilee needs a Chairman who will actively promote the company to the market. Keeping the market up to date with ongoing production figures, costs and how new project developments are progressing. A chairman who believes in and wants to promote Jubilee at all possible opportunities.
CB is a miner, with a finger in numerous small mining companies(Chairman) which he wishes to promote. Jubilee is a mineral processing and recovery company and needs a Chairman who thinks along such lines. I heard CB promote Jubilee on one occasion during the last year, where he said "Jubilee is going gang busters on copper in Zambia". Not a comment I would expect from a very well paid part time Chairman.

I understand that Inyoni PGM production will reach 50000 PGM ozs for current year, and this production is under pining Jubilee share price. But the Windsor JV production of PGMs is still operational and I do not understand how this fits into Jubilee PGM production, although this output may now being sold to Northam on an ad hoc basis.
But Jubilee SP will not gain ground until we have facts and figures for copper production. We are told rightly that copper production is about on schedule, but how much and at what price remains a mystery. I just hope LC is nailing down copper production in Zambia before further projects. Although I have no objection to a second Inyoni on the Eastern limb as this just represents an extension of proven technology in action.

Thanks Northern Shark for Cyprus link, my take on interview was a lot of Blah, Blah from CB talking on behalf of Bezant. CB was born a miner and he will die a miner. When one hears the chat it is hard to believe CB also works for Jubilee.
For Jubilee to invest in a JV in Cyprus, we need details of tonnage, grade and mineralisation present at a strategic location. Then to add in all the other high grade small waste dumps scattered about is a matter of logistics. But we all know with supply chain disruptions that logistics are complex. At best I think Cyprus might produce 9000 tons copper per year.
Cyprus is not Southern Africa, where there are massive waste mineral dumps, at single locations, waiting to be processed.

For myself Jubilee has become, hear no evil, see no evil, speak no evil. And I do not like Cyprus, it stinks of Mining with CB, whereas Jubilee is not a mining company. Mining needs time, cash, and then more time and cash before any possible returns are achieved. As is currently being witnessed in Cyprus. Jubilee must stick to its tried and tested methodology as a minerals processing and recovery company in Southern Africa.

From JSE SENS on 27/10/2021, Implats here appears to be taking over RBPlat, preliminary announcement. The main issue is that the PGM mines are consolidating, primarily between Sibayene and Implats with the advance of global decarbonisation, thus as a JLP shareholder I look forward to a deal on Tjate.