Member Info for HarmProf

Molefe Mine and surrounding geographical area seems to be the Ace Card for Jubilee at this moment.

Latest RNS

"The joint shareholding in Molefe Mine ensures a common purpose to develop this opportunity and offer shareholder returns - potentially one of the most significant, major copper deposits in the Central province of Zambia."

Leon statement hints that early drilling or geological indicators suggest something far bigger than typical small-scale or tailings projects, and it implies that the orebody may be large, and or the grades may be favourable, and the deposit could materially change Jubilee’s copper profile. So, we wait patiently on the good news that will be released in due time.

Thank you. It is a high-risk project with low recovery potential and requires substantial capital. It should remain a low-priority option and stay on the shelf for now. It will assist with understanding the Jubilee strategy and priorities.

Bottomsup and other residents, On the basis of that article, Mufulira warrants a markedly lower priority for capital deployment, with funds better sequenced toward shorter‑payback projects. Kindly update me about any new developments ..

https://www.saimm.co.za/Conferences/Copper-Cobalt-2018/49-Sikamo-501-512.pdf

Bottomsup, expectations are everything. SA investors are awake, and the birds are already chirping. Achieving a commercially attractive profit from processing the Mufulira slag could be difficult, and the project carries material technical and financial risks. Could you comment on the latter?

It looks as though some short positions are being closed, which could allow the share price to move upward quite quickly. I also noticed a response from a long‑standing investor who is still far underwater at the current price. A great deal could change over the next six months. Depression and suicide are a real issue in the December month.

Suvlin, come out of your shell. Who do you want me to be? I have no problem adopting a new professional identity. Seis is welcome to provide a clear input as well, and then we can move on with a new identity. Anybody else is welcome to assist me with a new virtual reality. Harmi will be harmonic again and remains a virtual professional!

RNS or annual report warnings...

Expectations function as a determinant of emotional responses, influencing individuals’ affective state depending on whether those expectations are fulfilled or unmet.

Rx : Expectations for Jubilee’s annual report will vary. Some residents may be disappointed, others satisfied. The strategy is sound, and copper production should gradually rise in Calendar Year 2026. Although I anticipate moderate profits, I hope chrome revenue and margins exceed expectations in Q1 and bring further positive surprises in Q2. Ultimately, we want a healthy, positive bank balance at year-end, and strong earnings will support that. At this stage, I do not favour a share buyback, but rather aggressive, smart investments in modular processing units to grow the business.

BB, My view is that SB is primarily a trader who operates on investor psychology. That is, of course, his right — everyone is entitled to their own strategy. However, it does appear that he is actively trying to keep the share price under pressure in order to profit from it.

I accept that my previous post may not have been interpreted correctly. I was responding specifically to the issue of the loan covenant, which was raised by BB — not by me. I simply tried to understand and engage with that point. Only yesterday I posted positive — in fact, very positive — news about Jubilee and the many opportunities ahead. Today, I am merely responding to the latest fear-mongering. I am not concerned by it; in fact, I rather enjoy engaging with these debates. Even if a suspension were to occur and the share price were to fall, it would, in my view, be temporary. Once the report is released, normal trading would resume and the share price could recover very strongly.

AI : If a company fails to publish its financial results on time, the LSE can: Suspend trading | Cancel the listing (if delays persist) | Force a restoration process with conditions | Trigger nomad review (on AIM) This applies to: Annual Results, Interim Results, Audited accounts.

AIM (where Jubilee Metals is listed)

Annual audited results: within 6 months Interim results: within 3 months

Wesizwe Platinum — its shares were suspended in June 2025 after the company failed to publish its audited annual financial statements and integrated annual report for the year ended 31 December 2024 within the timeframe required under the JSE Listings.

Ayo Technology Solutions was suspended earlier for failing to publish its annual report for the year ended August 2024 in time.

That is for JSE.

Suvlin, Uk residenets pretend they more intelligent? LOL.

Pizzagate, who are the clowns? Are you a member? 2 posts on this board!

Ardbegger — your argument wasn’t logical and your defence felt childish. Please run your logic through an AI before posting. We both invest in Jubilee; I’m a confident investor, while you seem frustrated by unrealised losses and an illogical averaging-down approach.

Kalan, I know very little about GLR. Some of the negative sentiment expressed on this board influenced my thinking. I do not know Colin Bird or the other GLR board members personally. What does concern me, however, is that Jubilee does not disclose the names of the parties from whom it receives ROM, for example at Roan, nor the details of the contractual arrangements. In my view, this represents a serious lack of transparency. Similar concerns arose around the joint venture with One Chrome, which I also found frustrating. I sometimes get the impression that Jubilee seeks too large a share of the value when negotiating with partners. I may well be wrong, as so much of this takes place behind closed doors. Nevertheless, Jubilee should focus more clearly on creating shareholder value and generating returns, rather than pursuing endless experimentation to push recovery rates above 90%. It would be more prudent to recover what is technically and economically straightforward first, secure the revenue, and address higher recovery targets at a later stage. Again, I accept that I could be mistaken. I feel more comfortable scrutinising and critiquing financial matters.

In my view, it is wise to partner with a larger, well-capitalised company. This would very likely create value for shareholders and would also instil confidence, as Jubilee, being a relatively small junior company, would be aligned with a more established partner.

I see it much the same: we carry the weight of past patterns and often let them colour the present. Breaking that conditioning means choosing to notice what is constructive, not just what is broken. Reflection helps, but so does letting go. Negativity is a habit; perspective can be a discipline.

I am not an engineer and must learn many things and that is fine. Let the other contribute something that create a better understanding of the updated strategy and turn around plan and that things on the right track. Remember, we 2 hours ahead of you and I wake up at around 04h.00 or 02h.00 UK time. It is soon bed time for me... Have a nice day! Where I stay, rain, cloudy but still high in the 20 degrees (Kwazulu Natal).

I missed or experienced a mental block to review the info below per RNS and perhaps was not yet convinced that it will lead to quick revenue gains! We need the facts and if positive than Jubilee will be in a position to really accelerate the revenue growth in the short term. End of December 2025 and this is around the corner! Let the report be very positive! All seems to come together in Financial Year 2026.

RNS 6 October:

"An independent resource review of the near 240 million tonnes Large Waste Project is progressing on target with further infill drilling expected to commence during Q3 FY2026 as part of the development of the detailed ore reclamation plan · External project leaders have been appointed to drive the project implementation with near final designs on track for completion by end of Q3 FY202"

You’re absolutely right — prioritising projects with a payback of under two years secures quick cash flow and reduces risk. Larger undertakings like Mopani or the waste rock initiatives, with likely five‑year horizons and slower ramp‑up, should follow once the balance sheet is strengthened. It’s a disciplined sequencing strategy: fast returns first, then scale. JV with GLR (Molefe) should invite Jubilee to knock on the door (again) at GLR with the Luansobe open pit mine. Apparently Jubilee made an offer but this was rejected by GLR in the past. Sharing the profit is better than not having any profit for years and I think investors agree with that.

Something went through my mind and is this feasible or pipe dreaming?

Luansobe is a near-term, potentially higher-grade copper project (~5.8 Mt @ ~1% Cu open-pit; 6.3 Mt @ ~1.5% Cu at depth), located 15 km NW of Mufulira, 75% owned by GLR and 25% by Statunga. Would it be worthwhile to consider a JV or offtake agreement to access this feed? Could the ROM be processed at the nearby Roan concentrator, or would a new modular unit be the most cost-effective solution? Could some of the newly acquired large surface waste rock dump also be processed at this unit, combining ROM from Luansobe and the LSWR dump? What hurdles or obstacles can be identified? Low capex investment according to me to get going and additional revenue stream for Jubilee (also for GLR).

Oops., apology not GLR with Mopani Copper Mines (something else could be on the investment horizon with GLR in the area).

Bottomsup, no — I am not being impatient. This is about strategic implementation that genuinely benefits shareholders. There has still been no firm confirmation of the way forward regarding the Mufulira slag processing at Mopani Copper Mines, if I am not mistaken. In the absence this final clearly defined agreement, it would be premature to budget for this at this stage. The same applies to the reported 240 million tonnes of surface waste rock. That scale of material will require extensive — and potentially costly — exploration work to identify the most suitable locations for future processing units. Until that technical work is completed, committing major capital there would be speculative. That is my view. In contrast, Molefe — and most likely Project G — already present clear, near-term, revenue-generating opportunities. The sensible capital allocation sequence, in the interests of shareholders, is therefore to prioritise projects that can generate cash immediately. The large surface waste rock opportunity can then be budgeted for once a strong and stable revenue stream is established from Molefe and, potentially, Project G. Shareholder value is maximised by cash flow first, expansion second. I have been reading some of the stories about the personal drama faced by very long-standing investors — people who, after years of holding, now find themselves with little money left to live on and sitting on massive unrealised losses. It is deeply troubling, and it does help explain the level of emotion, anger and mistrust that still surrounds this share. For many, this is not just about charts and strategies anymore — it is about real financial hardship. That context should never be ignored when shareholders express frustration.