Member Info for Gray1

Looking at the corporate presentation they are claiming to be able to produce 5k tons per year from Roan and 2k tons per year from project M. Total 7k tons per year. As far as I am aware neither are running yet. Assuming these run flat out in the 2nd half of the year that is 3.5k tons plus the 950k produced already makes around 4.5k tons for the year.

Are they going to hit forecast of 5.5k tons or fall short or does the Copper Sulphide sales make up for the short fall. 5.5k tons for the year still looks like a tall order for me. No mention of Cobalt is there a problem with the Cobalt process we are not aware of?

The 3rd quarter will show if we are on track as we should have produced a further 2.3k tons of Copper if not then it is unlikely we will hit the forecast for Copper.

When we start seeing improved output on copper then I will believe the modular process has been solved but not until then. They have had 18 months of goodwill from investors since Roan has failed.

Talkings cheap. Time to deliver.

No I don't know differently but then they said Roan would do 10k and it hasn't so you can see why I have my doubts. Their track record on copper has been dire so far but we shall see. Hopefully in the quarterly updates we will see copper output increasing.

Fair comment Nelson but if the modules fail where do they go with Copper from here? Does Cobalt suffer from the same problems that Copper has done?

Hope they sort it.

Dorfan, Leon is distrusted by the market because they have failed to do what they said they would do and failed to communicate it in a timely manner as you and many more have called for better communication.

Until that changes the sp will probably drop further. Their is currently no confidence in the market with JLP at the moment. The copper modules maybe their saving grace or their last chance saloon to change that over the next 12 months.

Roll the dice and take your pick.

Apologies gotreal I think your comment was aimed at Bushy.

I'm not living in the past gotreal. I never thought anything would come out of Tjate anyway it was always a long shot.

I think Kitwe has some issues with pollution and who is responsible. I believe that is still being resolved and is out of JLP's hands. I stand corrected if I am mistaken but not too bothered about that.

Copper is the here and now and at the moment it is a failure and because of that does it mean there are issues with Cobalt production as well. We don't know because they don't tell us or are reluctant to do so and after 6 or 12 months when production is down that is when they tell us. Not good enough for me.

It is time to deliver and we won't see that until at least the 3rd quarter or the full financial year which will be roughly April 24 and Aug 24. If they deliver on quarterly updates.

They say Module 1 will produce 7k a year but it hasn't yet and until it does the jury is out.

They said Roan would produce 10k a year but it hasn't yet.

I don't want to hear soundbites any more I want to see numbers produced that they say they can produce until they do that this share price is going nowhere.

PGMs if prices rise is fine, chrome should be better now they are getting more for producing it but these will just keep us ticking along. Copper is the game changer and they have failed so far with it.

I don't believe Cobalt was even mentioned last RNS and I know Cobalt price has dropped but what is the plan for Cobalt now? Sit on it until the price goes up? Are they going to produce any?

I don't care about Slater at the moment. I want them to do what they say they are going to do and be honest why they haven't and what they are doing about it. Like they should have been when Roan hasn't performed as it should have. It's not much to ask from a company that I am invested in. Is it?

I love your enthusiasm Mikie but where does it says in any RNS that Roan and Module 1 are producing more than Sable can cope with?

So far Leon has talked the talked but I'm afraid where copper is involved he has failed to walk the walk. So far this financial year around 950 tons of copper has been produced and now it is shut down for 16 weeks extended from 12 weeks .

To meet this years forecast means producing 4.5k tons in around 5 to 6 months which is 750 tons to 900 tons a month with the copper track record so far that is a tall order. Hope they do it but I am not holding my breath with past performance.

Still holding but extremely disappointed with this over the last 18 months.

gotreal

You have your opinion I have mine We will just have to agree to disagree. Whilst I believe their is a good future for Jubilee. I don't wear rose tinted glasses and believe everything is perfect in Jubilee and everything they do in the future will be perfect either they will have problems it would be better if they communicated these better and more timely sometimes. I believe dorfan has commented on their poor communications a number of times on this board and I happen to agree with him.

dorfan01

But profits this year aren't immaterial because the more Jubilee make the more free cash flow they have to finance their expansion plans and therefore less dilution and less borrowing is required and the higher the sp it all links together.

What they do now directly affects the future plans and financing that is why this year is important just as any other so they can generate as much cash as possible whilst completing their upgrades.

That's a bit blinkered gotreal. I am interested in what the company's past, present and future look like it is how I judge a company and I certainly don't day trade I'm not skilled enough for that.

What a company has done and is doing is a pointer to whether it will complete it's future plans in a timely, communicated and financially prudent manner and Jubilee have a mixed record on this but I am still optimistic that they will do what they say even with a few bumps along the road and we will all be rewarded.

SeisNav

There is no doubt that Jubilee may have a bright future I certainly hope so but I am discussing what is happening now and that is just as important as the future as this is real and the future is hope.

Thanks for that BB2 that would be huge for Jubilee if the price increases substantially.

Correction "revenue is high on chrome"

dorfan01

Really 2p. Hope your right but I wouldn't bet your money on achieving that. I could argue you are too optimistic. The first half years results were very disappointing and there is a massive uplift needed in the second half to reach 2p eps. I just don't see how that is reached especially now we know Roan production has moved back. Earnings are high on Chrome but there isn't a lot of nett profit in it to affect eps that much.

The problem is we don't know how much cash is required for the Northern expansion and Jubilee have stated they would have to finance the Eastern Limb. It won't be long until the results are out for the full year so we shall soon see.

My take on the situation. This financial year will be worse than I expected. I thought we would be around 1.8 eps but we will do well to hit 1.5/1.6. Various reasons the poor performance of pgms in the first half of the year due to Inyoni upgrade and also second half Roan delayed.

Good news Cobalt looks like it could contribute earlier than expected.

I believe Jubilee can generate enough cash for the Northern expansion or the Eastern Limb but not both either dilution or loan will finance one of them unfortunately Jubilee prefer dilution (hope I am wrong).

Caerus cannot be funded without dilution or loans at the moment until enough cash is generated so would have to kick that can down the road for now. Same for any new ventures both require cash we don't have spare.

Providing no more delays then next financial year should be much improved .

Reading Homey's post I don't think that differs from some of the things he has said but I remain optimistic for next financial year and will sit and wait fingers crossed. GLA.

On another note Cobalt. I believe JLP will produce Cobalt Oxide might have to wait 18 months before that comes into effect in any decent quantities. Cobalt Oxide sells for around a third of the price of Cobalt. Happy to be corrected if someone else is better informed.

Happy,

Not too worried about the sp it is about right (give or take a penny or so) for where we are even if copper and pgms price were to return to pre Putin's war. This is all about Jubilee proving up their copper strategy now to justify the decisions they made about the funding to execute this.

Northern,

You are right but now they have to prove it was a good deal overall. I will be much happier when we see 2500 tons of Copper out of Roan every 3 months and a spade goes in the ground to start building the next one.