Member Info for Chatmandu

Will the circular drop this evening?

I'm starting to wonder if there even was a bid. Was this just a crap attempt to draw in a 'counter offer' - i.e. publicly announce a deal so bad that competitors make approaches with better offers?

@Happydays.

I'm in the same situation. My purchase price was 19p.

I did actually setup a trade this morning, but thought better off it. I'm just wary of throwing good money after bad and I just don't trust Leon.

@actusryboi

I think it's important to remember that Leon has only achieved an average of 34% of his targeted copper production.

I'd take that 2026 target with a major pinch of salt.

2024 was 3400 tonnes achieved from a target of 5000 tonnes.

2025 didn't set a target, but had only 2100 tonnes achieved.

He's now saying 5100 tonnes for 2026.

Maybe he's learned his lesson and is trying to underpromise and overdeliver, but I doubt it - and I also doubt he'll achieve the target.

25k tonnes just seems like a fairytale.

@happydays

You're absolutely right.

I skimmed through the report while catching up on the comments. Sorry for any confusion.

Copper production is around 30% less than 2024.

I'm amazed the share price hasn't fallen further.

@Happydays I think 2200 tonnes is the half year production figure.

Not that it makes much difference. It's still complete pony compared to the previous targets.

I'm on holiday and I assumed the circular had dropped when I saw the share price and the number of comments.

The FY 2026 cooper target is now 5200 tonnes. That is still only 20% of 2020's target of 25k tonnes.

I think JLP is currently undersold and we will probably see the price fall further as the market absorbs the news.

Will it fall again when the circular is released? Who knows, but if the share price reaches 2.2p, the company will be worth just the PGM's $90 million sale price.

@Seisnav

You've still not posted the unredacted screenshots/scans of your trading account, driving licence and council tax to prove you're holding shares in JLP.

Until you've done that, perhaps you could give it a rest with all the agenda boll0

If you have online trading accounts, such as AJ Bell, interactive investor, etc, there is a voting section in your account. Once the vote is announced, you will be able to view via the portal.

"Where has the technology gone Kev and would that be the pile of dirt that noone wants except the entity that paid 18 million for a small part of it recently?"

If the piles of dirt are worth so much, why is the rump business only valued at $27 million?

They're clearly considered worthless by the market.

The market is now closed and there's no sign of an RNS.

Maybe next Friday?

@Couerdelion

The 2024 Annual Report doesn't even bother to include a copper production target for this year. The only targets are processing capacity, rather than output. What does that tell you?

We're still only producing 13.7% of the 25k tonnes target that was set in 2020. The target is still mentioned in the 'who we are' section, but it's just a nebulous ambition and no timeline is provided.

"Jubilee’s priority is to establish a copper processing footprint capable of producing in excess of 25 000 tonnes of copper per annum, by rolling out modular operational units at various copper resources to fill the installed copper processing capacity."

How else can the mere 13.7% delivery of a target (after 5 years) be described, other than as 'disastrous'?

Perhaps this year's Annual Report can tweak the wording - 'Who we are - a company with grand ambitions that repeatedly fails to come up with the goods.'

I can tell you that we'd need to increase copper production by 731% to hit the 25k tonnes target that was set in 2020.

I can also tell you that the average increase in copper production since 2020 has only been 39% and that figure is distorted by the initial increase from 1,387 tonnes to 2,604 tonnes.

Last year's production only increased by 25.4% to 3,422 tonnes. That missed the target of 5k tonnes, which was only half of the previous year's target to 10k tonnes.

JLP have only produced 33.6% of the copper predicted/targeted in the Annual Reports. I've been generous and not included the '25,000 tonnes of copper' as the target set in 2020.

With regards to the copper strategy, the sky has already fallen. It's been a disaster.

https://www.lse.co.uk/ShareChat.html?ShareTicker=JLP&share=Jubilee-Metals&thread=E200D483-2491-40CF-9311-00DE204785FE

@gotreal - please do bore off you pathetic excuse for a human being.

"I sincerely hope one of these days your comments get you time."

There's nothing remotely libellous in my comment, but you're still here, the wannabe bully, puffing yourself up and insinuating that fair criticism of company strategy is somehow illegal! You're as lacking in legal knowledge as you are in self-awareness.

How much clearer do I have to be? Let me be explicit - You will not shut me up with your pathetic attempts at bullying.

IMHO it seems implausible that other mining/processing companies have never thought to employ highly skilled chemists to assess the commercial viability of copper extraction from low grade waste rocks. We're talking about huge multinationals with large R&D budgets. They will have access to the finest Geologists, Geochemists and Chemists on the planet.

The commercial viability must have been assessed by other companies and rejected as not worth the hassle or expense.

Leon obviously thought he could make it work, but the Zambian operation has consistently failed to produce the targeted quantities of copper.

- At current growth rates we're still 5 or 6 years away from 2020's 25k tonnes target.

- We don't know how much capex that would require.

- Because we don't know the capex and operational costs, we can't say whether it would even be profitable.

The whole Zambian operation needs an external audit to ascertain if it is even worth pursuing.

@Sprint

That would be quite the outcome.

- Waste 6 years and £ tens of millions messing around in Zambia.

- Give the PGM business away for free.

- Jump ship to the PGM business.

- Get rich.

- Leave some poor sucker the job of winding up the Zambian disaster that he created.

I'm sure our top-notch regulators would put a stop to such shenanigans...

Can you describe the bird for us?

@Nelson - that's a great comment.

People won't have any choice but to accept it. Do you think Leon is going to rewrite it because of negative comments on this forum?

I know how keen gotreal is to go through people's posting history, so I knew he wouldn't mind me doing the same for him.

I copied and pasted the last five pages of each user's content into text files and asked CoPilot to analyse and look for similarities.

CoPilot thinks they're probably different people.

https:// copilot.microsoft.com/shares/hpww5uXfSskiehjGNFcba

CoPilot has certainly nailed gotreal's attitude problem...

File: gotreal2.txt

Style: Highly argumentative, defensive, and assertive in tone.

Linguistic features:

Frequent rhetorical questioning ("So you are stating for a fact…?")

Use of sarcasm and mockery (e.g., “village idiot,” “you clown,” “water off a duck’s back”)

Long, information-dense posts with insider references to company operations and board politics.

Topic consistency: Almost entirely focused on Jubilee Metals Group (JLP), investor sentiment, and perceived misinformation.

File: PizzaGate2.txt

Style:

More varied in tone—sometimes sarcastic and confrontational, but also informative, promotional, and casual.

Linguistic features:

Briefer posts overall, with occasional longer-form explanations.

Frequent mentions of discount codes, supplements, and technical product details.

Use of direct insults or mocking (e.g., “bore off,” “get a room”)—less verbose but still biting.

He's too busy spamming the mods in an attempt to get any 'off message' replies deleted.