Member Info for gotreal

Jolly... do you understand the difference between promised and not promised...??

Well you won't be proposing anything, loot, as you don't hold any shares...and no special dividend or share buy back was "promised".... Go and stir the shlt3 somewhere else.....

That is a comment by Colin for his own audience.... it wasn't authorised by JLP even if, as partners, it should have been.

But as the low grade ore at Molefe is ~0.7% then halve those figures.... 2 x 50Kt/mth modules would produce ~ 5Kt/an copper.

Seis: "Innovative Modular Technology – 2,000 tonnes per annum of copper per 20,000 tonnes per month copper processing module (assuming feed of 1.5% copper grade), as depicted in the diagram for Project M Copper unit cost per tonne US$5,281 in FY23 Estimated capital for 50,000 tonnes per month copper processing module = US$6.5 million. The estimated capital for a 20,000 tonnes per month copper processing module would be approximately US$3 million Modules targeted as part of Roan upgrade with additional modules considered under current long-term RoM agreements" So a 50Kt/mth module at a cost of $6.5 mill will produce 5kt/an copper. https://jubileemetalsgroup.com/copper/

Should be called SirTediousLiar .....

HG... I now have a material interest in GLR through association with JLP. Comments that Colin makes with regard work being done on soon to be joint assets are relevant and in any case, with no disrespect, I am at liberty to post on any board whether a holder of the stock or not. You have a point with regard JLP being at 20p.... but for all of Colin's vast experience in operating in Africa, and Zambia in particular, it didn't serve whilst he was chairman to foresee the infrastructure issues that dragged the company down and which have set copper production back by 2 years.... and of course he has never been backward in diluting investors. However, I will DM as suggested.

Which were those, HighlyGeared....??? You are an exception if that is the case...

"A poster mentioned the breaking of a 'Loan Covenant'." This was a made up LIE.

There has been nothing to say that concentrate from the low grade material will go to Sable, only the directly shipped high grade ore. You may be right but it hasn't been said. The example was only to demonstrate the payback period of the proposed concentrators in response to the wild costs/time suggested earlier. Oooops! Yes you are right about output from Molefe as I was double counting the Roan contribution. Molefe alone would produce 5,400t/an, so Molefe, Project G and Roan should be capable of 15,000t/an with other "spokes" supplying further capacity, as they come on line. But the Large Waste Rock Project has the potential to produce more copper than the other two pillars combined.

Re. Molefe, RNS 6/10/2025 "The lower grade material is targeted for future on-site processing, with plans for two 30 000tpm modular processing units ... plant will be designed for the low-grade ROM that incorporates a copper leaching, solid liquid separation, and copper precipitation circuit. To date, approximately 2 million tonnes of lower grade material has already been stockpiled at Molefe Mine in anticipation of the processing units being implemented. The implementation of the first copper processing unit at Molefe Mine is targeted for the end of Q4 FY2026 and offers an increase in copper units of a further 120tpm to reach 320tpm (3 840 tonnes per annum) prior to any further expansion of the mining operations. This is likely to cost around US$9 million and can be implemented in phases."

So cost estimate $9 million, increase in production 1,440 t/an. LME Copper price $11,000/t. Estimated sale value of contained copper in concentrate at 85% of LME, $9,350. Cost estimate, $5,350/t (but previously quoted variously at $4,000/t or even $3,800/t for the LWRP where we own the resource). Net profit per tonne, $4,000. Annual profit, $5,760,000. Payback time (9,000,000/5,760,000) approx. 19 months. Mining projects are typically characterized by high capital intensity and long time horizons, with standard payback periods often ranging from 5 to 10 years for production plants and even 10 to 20 years for large-scale mining projects. A 19-month payback period is a very rapid recovery of the initial investment.

Molefe, producing 8,500t/mth high grade ore to Sable plus 2 modules treating low grade ore, would have an annual production of contained Copper of approx. 9,000t/an. Double it to include Project G and add in Roan producing 4 - 5,000t/an and there is production of 22 - 23,000t/an. Then there is the Large Waste Rock Project....

"Innovative Modular Technology – 2,000 tonnes per annum of copper per 20,000 tonnes per month copper processing module (assuming feed of 1.5% copper grade), as depicted in the diagram for Project M Copper unit cost per tonne US$5,281 in FY23. Estimated capital for 50,000 tonnes per month copper processing module = US$6.5 million. The estimated capital for a 20,000 tonnes per month copper processing module would be approximately US$3 million" https://jubileemetalsgroup.com/copper/

"HD, three modular concentrators processing 300,000 tonnes each per year would generate about $25 million profit annually at current prices. With a capital cost of $66 million, they’d be paid off in three years. " Utter trash. A concentrator does not cost $22 million.

Whilst Luansobe is v interesting, it has a copper in the ground resource estimate of up to 100,000 tonnes. The Large Waste Rock Project has a probable recoverable copper estimate of around 1,500,000 tonnes.... and it is all above ground already.

"I just wasn’t aware the mine was needing drilling just to keep the output up. JLP hadn’t mentioned this." JLP haven't, you are right. Those are Colin Bird's words in a GLR release and not ratified or authorised by JLP as far as I am aware. Colin's silver tongue will say whatever suits his purpose. JLP clearly has a ramp up plan to achieve 8,500 tonnes high grade ore to Sable per month, as per the RNS 28/11/25, regardless of Colin or his words. I would listen to the organ grinder, not the monkey.

The rainy season does not necessarily prevent drilling in Zambia. While the dry season is preferred for optimal productivity, many companies continue drilling operations through the rainy season. Midnight Sun Mining continued exploration during the rainy season with an anticipated 90% productivity despite some weather-related delays. Similarly, BeMetals Mining commenced a core drilling program in March 2024 completing over 2,000 meters of drilling. Other companies, like Arc Minerals, have also continued drilling into the rainy season, Seis will confirm. Regard Molefe, we know from previous comment that we have drilled to 80m depth and there was copper all the way. It was NEVER the plan that Molefe will fill Sable, it was always to include Project G and other sources of high grade ore. Bored of the liars now.

Seis, that is not what the RNS suggests...

"the resource definition drilling and exploration program, both for the Molefe Mine and potential targeted neighbouring areas, which have been secured by Jubilee."

I think the RNS is pretty clear, the work and the earned share of the mine output is for surveying, drilling and resource estimation only, initially just for Molefe - that's it. No mention of mining... and like JL, I suspect there is a bigger picture here where the remit then extends to Project G and the other licenses that Leon has mentioned split on a similar basis, goes on to include some of GLRs prospects being mined and processed by JLP and the two businesses at some point become one. Overall, it is not a bad plan AS LONG AS the JLP share price increases sharply in the short term and JLP shareholders are not turned over once again by raises that only serve to enhance the holdings of Colin and JLP's directors. The combined operations of JLP and GLR could be a formidable company and a serious player/producer.

Not forgetting that Poject G was vaunted as being a far larger opportunity than Molefe with grades of 3 - 4% and was an operating open pit mine WITH a 3,000t/mth concentrator already on site when we acquired the 65% share.... An unanswered question is, what has happened to that productive capacity in the intervening year??

BTsU .... the last figure we were given was that they had drilled to a depth of 80m and found copper all the way....