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Cardo
I think that historically CB founded Jubilee Platinum (Tjate), and JLP's name has since being changed to Jubilee Metals Group.com. I note that CB has millions of shares in Kendrick Resources, thus I suggest he is floating Kendrick Resources primarily for his own benefit. Most of this companies resources are in Finland and Sweden (northern regions), certainly the reindeer herders of these lands regard the region as their historic home, with regular migration routes for reindeer.
The local population of these lands do not wish for the introduction of mining, and long term mining in these regions could lead to the demise of the reindeer. The problem with CB is that he is a miner, who destroys as he mines. I do not think CB is concerned with Eco-systems.
I wish Colin Bird would have the grace to retire from the Micro Mining industry, he keeps coming back all to the detriment of Jubilee is my perception. Also Jubilee under LC represents CB's most successful micro mining venture, however it is not now a mining company, having under LC become transformed into a very successful minerals processing and recovery company.
Bird now appears to have a claim on Kabwe's value for Zn/Pb/V, well he must put up the cash for engineering solution as to how the waste dumps at Kabwe maybe safely and successfully processed.
Homey
My understanding of Kabwe is that both Zn and Pb can currently be recovered on a highly profitable basis. The Zn/Pb/V concentrations in the waste at Kabwe are higher than most new Greenfield Zn/Pb projects. There of course other minerals present such as Cadmium , Silver and probably Arsenic, all leading to a very toxic waste dump mess. Recovery of V is currently not financially so great, but Kabwe dumps mess has to be tackled step by step over time. Also the recovery of Cu is very profitable at present, and Sable probably does not have the excess capacity to refine Zn/Pb at present.
As Sable is a centre of excellence for Jubilee, and currently no doubt the Cobalt pilot plant is running flat out solving the recovery issues involved, in order to produce meaning quantities of Cobalt Hydroxide from the Zambian mine waste dumps. Spare capacity available at Sable will be limited for some time.
However once Leopard opens up on the Northern Copper belt and is able to process Cu concentrates produced by both Roan and Kitwe, then the load on Sable will fall away, and one would look for a start to be made processing the waste dumps of Kabwe. Kabwe is not as second Tjate, were the payable ore is at a very great depth. For Kabwe the waste is ground and at surface.
IMHO I believe starting up the Zinc recovery circuit at Sable, thus progressing the first step towards cleaning up the Toxic dumps at Kabwe is very beneficial, and vastly preferred to building Cu dump concentrators plus refinery units in Cyprus. This move would advance JLPs ESG credentials, and anyway was the first intention when Sable was purchased from Glencore.
My understanding is that the Zn circuit is ready to roll, and with metal prices certainly now stable at increased values, it is difficult to understand why the clean up of Kabwe is not started.
I see CMRS has come back to haunt JLP this morning, latest CMRS RNS. The quantity of copper found on Cyprus, in association with gold, is very small compared to the vast quantity of waste mine material available for processing in Zambia. LC has always told JLP that the money is in the refinery and not the concentration. To build a concentration and refinery units in Cyprus will I estimate cost at least £35m, and the return on this investment will not compare with Southern Africa.
I just hope JLP leaves Cyprus, a great holiday destination that does not require a mining industry.
I have never trusted CB since the early days of Tatje , but he is gone from Jubilee some time ago and resigned as Chairman also some time ago. Thus I regard these ridiculous stories about Colin Bird as totally of no concern to Jubilee, and are obviously put about by some hoping to pick up JLP shares on the cheap.
I just hope the quality of this BB is not about to suffer from persons with their own agenda; whereas I have always considered this BB as a forum for honest and factual information directly related to JLP
The strong PGM Basket Price for SLP for Q1 2022 indicates that JLP PGM revenue for Q1 2022 will also increase by about 28% compared to historic quarter. But this effect is entirely due to increase in PGM prices, and does not reflect on increased recoveries arising from updated Inyoni Plant, where I would expect recovery % of PGMs to exceed 65%.
The problem with JLP is lack of comms, Cu is coming in Zambia, but just how successful Roan is at producing Cu concentrate remains a mystery.
The BOD at JLP believes that for Retail investors, silence is golden and Ignorance is bliss.
There is talk in Zambia about finding a new investor for Mopani copper. A vast mining area, but I assume JLP will have some input to the future of Mopani ; after its recent get together with Mopani. I much prefer expansion in Zambia as opposed to a new treatment centre for Au/Cu in Cyprus.
I have lost faith with LC and all his statements about no more dilution, must have a clean balance sheet in order to raise cash for future development etc. Then Cu just coming on line but no info for retail investors, but iis kept up to date during visits to London.
The only reason I now remain with JLP is Slater and funds provided at 16p by Slater, and they know what they are trying to achieve.
JLPpositive
I believe South African mining policy has been adversely affected by the ANC policy of BEE. It is very difficult to operate a solid mining policy encouraging investment, when some investors have seen their investment handed over to BEE participants. I am not stating BEE is wrong, but the way it has at times been administered falls short of expected standards.
Tobin
I agree there are vast quantities of Zn, Pb and V around Sable, but these are in toxic dumps. And when dump disturbed clouds of toxic mostly Lead dust blows over the town of Kabwe. I agree that the way to handle such material is water, but I believe JLP has enough on the go at present without embarking on Zn recovery at Sable. Of course once you get the Zn out then Pb is next, the situation is not a normal easy recovery situation in my opinion. The health of Kabwe residents must always be considered, although ultimately the toxic dumps will have to be removed.
Happydays
Like yourself I have heard it all before from Leon, and now very unimpressed.
More and more Hogwash.
I continue to support JLP as a strong buy at 14.5p. Because it now ticks appropriate boxes for a company with an established quality base, and also has an established pipe line of quality projects to increase earnings moving forward.
JLP recovers Chrome, PGMs, Cu and Co from historic waste mine dumps. These metals are at the start of a long, ever price increasing , super commodity cycle boom. The cycle exists because countries around the world, wish to decarbonise their economies and hence limit Global Warming on Planet Earth. The metals recovered by JLP are the key to decarbonisation, and their prices are but only going to increase over the next decade.
The recent extreme climatic events around the world have caused a reawakening at COP 26, of the dangers posed by future Global Warming. To do nothing is no longer an option, as annual extreme climatic events continue to be experienced, with ever increasing ferocity.
Copper Production
edzi thanks for correcting my cost of Cu production from the Zambian dumps. I just could not remember the correct figure or where to look it up, thank you. Using your fig. for production recovery cost of $4500 - $5000 /ton, effectively halves my earnings projection from Cu from $5m /month down to $2,5m /month.
Now thankfully I only used an output of 400 tons Cu per month from Roan available for treatment at Sable. But with Roan now ramped to 10000 tons a Cu per year, completion early Q1 2022, the total output from Roan is now 800+ tons per month. Or total Cu tons available for processing at Sable is 150 (private ROM) plus 800+ tons Cu , 950+ tons Cu processed per month, ie 12000 tons per year. !2000 tons Cu processed per year equates to Sable's design capacity, and at full capacity one expects the efficiencies of Sable to increase.
Hence I expect Sable to generate profits of $6m per month from Cu on wards from Q1 2022 . I further note that other posts on this BB have opened up on Cobalt. Now all Cobalt recovered will be free of cost, all recovery costs being born by Cu. Also the quantity of Co recovered largely depends on Co tails present in original Cu dump.
Now if JLP will just forget Cyprus and move over the border onto the adjacent Cu dumps in the DRC, here a distance of a few miles. The quantity of Co in these dumps is much higher than Co present in adjacent Zambian Cu dumps. JLP does not need to move out of Southern Africa, the rewards here are more than significant.
PGM production.
I confess I get some of my PGM figs from SLP reports, which as of Dec. 2021 had a current PGM basket price of $2955 PGM ounce rising rapidly. PGM processing plants typically have a recovery of between 52 and 57% of the PGM ounces present. This recovery rate is largely influenced by amount of oxidisation of ROM material supplied to recovery plant.
Inyoni has two advantages over conventional PGM plants. By detailed blending it is able to handle a mixture of ROM feeds, most plants tied to a single feed. And because the plant is fully integrated the PGMs from the ROM feeds go directly to the PGM recovery plant with minimal loss to oxidation. Even a small improvement in recovery rates has a large impact on profits. One would expect the PGM recovery rate at the new state of the art Inyoni plant to be between 62 and 67% of the supplied PGM feed. But these figures are dependent on more info from JLP . But I support other posts on this BB in stating that earnings for year end June 2022 will exceed earnings from year end June 2021.
Homey
I used the RNS of Apr. 2021 in my calcs. for up coming Cu earnings in Zambia. This RNS states that the completion of phase 2 Roan will be achieved early Q3. 2021 producing 400 tons Cu /month. Sable also has private Cu ROM off take agreements for 150 tons Cu /month as of June 2021. Hence by end early Aug. 2021 Sable will be producing 550 Cu tons/month.
Current Cu price $10000/ton, and in interview LC stated cost to produce 1 ton Cu from dump material is around $ 500 - 600 per ton. Thus I have considered a cost of $1000 to extract a ton of Cu from dump material in Zambia. Therefore Cu earnings from my calcs. are 550 X 9000 = $5m per month.
Currently Roan is ramping up to 10000 tons Cu /month, completion early Q1 2022, RNS 8 Feb. 2022. Now my figures and calcs. maybe rough and ready, but I am convinced Cu earnings are going to exceed PGM earnings, that JLP is on the cusp of earning Cu $5m per month in Zambia. Hence I err on the positive in stating JLP earnings will for year 2021 - 2022 will exceed previous year's earnings.
I am with Dorfan, I still expect year end earnings June 2022 to exceed earnings for year ended June 2021. Inyoni is now complete and going full blast at much improved PGM prices. The JV between Windsor PGM and Eland is still in place, thereby ensuring JLP maximises free cash flow from PGMs. Then Copper at Sable will now be producing at about $5m earnings per month. Hence my prediction along with Dorfan.
With PGM prices currently up, the Jubilee share price is surer to follow once the issues of Ukraine become more established. But at present Jubilee is best performing stock I have in portfolio, almost immune from Putin madness. Of course Putin is a madman who appears to believe his own propaganda, but I also believe he has internal problems in Russia. Once the body bags start arriving at Moscow central station, and the Moscow population, who do not want a war, will become an influence in Russian affairs. It is so tragic that so many young people will lose their lives because of Putin's actions.
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".