Member Info for Chatmandu

Why are you still asking me questions?

You're as bad as Gotreal and Shuvlin in your role as self-appointed board policeman.

Also don't forget that I've consistently stated that the market places zero value upon the big piles of discarded rock - which can be verified from my posting history and fact checked against the market capitalisation.

I've hardly changed my tune immediately after selling my holding.

"Perhaps you would like to tell us what your valuation of 60 million or so includes chatty?"

Last summer, the market cap was equal to the size of the PGM deal. The market placed zero value on all the piles of rock and the Zambian operation. The Zambian operation is still loss making and JLP's copper production actually decreased and it's not processing the piles of rock (so they remain worthless). Molefe remains an unknown, but you've given away a chunk to Colin Bird.

I think the market will continue to price the company based upon the size of the PGM deal. Unfortunately, you've now had a big chunk of that and there was the added 'bonus' of the time weighted cost of money adjustment.

I think $60 million is still due from the sale, which works out at around 1.65p per share.

Good luck to those still holding.

I don't think anybody is arguing with the copper story. It's the complete inability of JLP to produce meaningful quantities of copper that's the problem. We could have picked literally any other copper producer 3 years ago and we'd now be sitting on huge gains, rather than massive losses.

Leon is a busted flush.

Like I said, I'll possibly trade in and out like @Kalan . I know my timing is bad. I acknowledged that I should have sold during the recent rally to 5p. I just don't think there's much likelihood of the share price rising due to announcements. There's simply no trust anymore. Only results will move the needle and it looks like Leon is going to miss yet another target. Badly.

I know this won't be popular, but I think the new floor for the share price is likely to be around 2p. Last summer the market cap was the same as the PGM sale price. I think (but can't be bothered to check) that we've now had $15 million of the PGM money and the time weighted accounting adjustment of $15 million. Plus more dilution. If you subtract $30 million from last summer's valuation, I think that's where the market cap is going to end up without any decent production figures.

"Jubilee, the integrated copper producer and resource developer in Zambia, announces the results of the General Meeting held today 8 April 2026. Resolution 2, 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 withdrawn as was resolution 3, a special resolution to dis-apply pre-emption rights in relation to the allotment of equity securities for cash."

_________________

Is 'withdrawn' a face saving way of saying 'defeated by shareholders'?

It's strange how attempts to hoodwink new investors via constant ramping is considered to be the 'honourable thing', whereas fair criticism of the company's incompetent management is considered to be dishonourable...

I guess it's just down to how our parents raise us.

I initially bought £10k @ 20p.

I have a young family and took my eye off the ball. The price tanked and I kept holding in the expectation Leon's bullsh*t might pan out. It didn't and I bought another £10k at 2.9p. You are correct that my average purchase price was 5.05p.

I should have sold during the recent rally, but I got sucked in by the 'potential super pit' guff.

I think I may trade the share in future and I'm confident that there will be an opportunity to buy in at a much lower price...

As for your accusation that I sow misinformation, I think you'll find that Leon is the main culprit.

https://www.lse.co.uk/ShareChat.html?ShareTicker=JLP&share=Jubilee-Metals&thread=459BBA6A-6FCA-4659-812A-96CE2911F186

I've sold my entire holding of 400k shares at 3.22p.

That was a £7k loss.

I would like to thank Leon for his bullsh*t targets and incompetent management.

@Happydays43

😂😂😂😂😂😂

It's the way you tell them.

@Kalan - Will you sell on the day? During the meeting?

I'm hoping for an AGM BS bounce...

@eagle1234

It's not a case of dismissing replies. I'm simply pointing out that we've got exactly zero information on who these partners are.

@Frogboy claims that they're 'relatively large'. What is that assertion based upon? Hope? Wishful thinking? Leon?

I, personally, worry that 'discussions with potential partners' could be a way to kick things into the long grass. It could be a perfectly true statement, even if the partners aren't actually viable.

@Frogboy - says who?

@SeisNav - 'in discussions with potential partners' could mean anything. It certainly sounds a lot better than having no potential partners.

As I've asked before, are any of these partners she'll companies owned by Colin Bird?

@SeisNav

"ROM ore cost increased by 20.8% to US$4.9 million (H1 FY2025: US$4.1 million) (contributing to 44.6% of total cost of production) in line with the increase in copper prices. ROM ore cost furthermore increased as a result of a 126.4% increase in the ROM processed at Roan"

It appears that the sellers are increasing the cost of ROM to reflect the price of copper, so Roan may never be profitable.

_ _ _ _

With regards to the rainy season, why wasn't ROM stockpiled ahead of the rainy season to remove the reliance upon bridges and roads?

I think I am in agreement with @Kalan. I am looking for an exit opportunity.

The only thing this company has going for it is FOMO based upon opaque announcements. The drilling results didn't even move the needle, which says a lot.

Has somebody forgotten to log out of a sock puppet account, because that definitely isn't @gotreal .

Am I correct in thinking that we're not really going to see any PGM profit sharing?

OneChrome can simply charge more for the feed-stock, thereby reducing the profitability of the processing business to zero, which will then negate any profit-sharing payments to JLP.

I think some key questions are:

1) How long do these Roan dilution contracts run for?

2) Is the 'dilution share price' fixed for the length of the contract or is it linked to the share price at the time of supplier payments?

3) Can we cancel the contracts and renegotiate new ones that don't include the option to be paid in shares?

4) Do JLP have any plans to avoid ongoing dilution - e.g. by purchasing shares on the open market whenever we need to pay using shares?

5) If that is the plan, is that why management want to access to the reserve - i.e. to cover the ongoing costs of buying ore for Roan, rather than returning value to shareholders?

"4EL, you are completely wrong. JLP are no longer reliant on outside material. Zambia is a different ballgame."

That's simply not true, though, is it?

We've just learned that we're issuing shares to pay for feedstock. Buying in feedstock for Roan is part of the 3 pillar strategy, so it appears that continuous dilution is also part of the 3 pilar strategy.

I don't think there has been much improvement. We're still not getting information in the timeframes promised. Even the drilling results, promised in the RNS, were delayed.

We now have a situation of Chinese Whispers where people claim to have spoken with JMK and relay the edited highlights (or their own concocted lies) to this bulletin board.

Investors shouldn't need to contact the Financial Director to get basic information. Any responses to shareholder questions should be via the website with responses made public for all shareholders to view.