RE: Copper3 Dec 2025 05:54
The short, sharp analysis I posted relates to several specific issues. If JMK considers any part of it “utter nonsense”, then he is welcome to state clearly which aspect he disputes.
1. Leon’s Role: Strategic Architect
I maintain that Leon is the one who developed the core strategy and long-term vision. The consistency of his statements and the strategic coherence of the Molefe opportunity support this view.
2.JMK’s Role: Financial Controller and Gatekeeper
My understanding is that JMK was brought into Jubilee through Salter’s influence, with a strong focus on financial oversight. This naturally raises the question of whether his interests and priorities are fully aligned with those of smaller, individual investors. It is reasonable to consider the possibility of a more myopic, finance-driven stance that favours the major shareholder’s position.
3. RNS Communication Misalignment
The repetitive and sometimes disjointed nature of recent RNS releases is, in my view, a genuine red flag. In the latest announcement, Leon made a significant point:
“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.”
Yet there was no corresponding comment or elaboration from JMK. This type of silence only reinforces concerns about communication quality and internal alignment.
Given these points, JMK is invited to clarify which elements of my analysis he believes to be incorrect. To date, he has not explained whether the 23% ownership in Molefe Mine represents a fair position for Jubilee, nor has he addressed whether early drilling results were promising — information that is materially relevant to investors.
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