Member Info for HarmProf

Gotreal, you could call it inflated guidance or speculative targeting, where management presents ambitious production numbers to draw investor interest without a realistic execution plan. Project G. Going through RNS history ... there is a similar trend. It is defended by the old guard. Why?

The Luansobe Copper Project is owned 75% by Galileo, with a Zambian JV-partner (Statunga Investments Limited) holding 25%. Galileo obtained a small-scale mining licence for Luansobe in April 2024. It not unreasonable to speculate that similar JV will or has been negotiated.... Time will tell.

I guess that the new partner will start focus on drilling and exploring Govender open pit mine(?). It was producing copper, and apparently their is a concentrator on site.. My assumption is that drilling and exploration was put on hold till a new partner was found. Of course speculation, but it is time that Jubilee provide a detailed update. Money was paid for this resource and return on investment is not reported, likely nil at this stage.

Annual report 2024.

"Project G second open-pit operation concluded: ramping up over 6 months to reach 3 000 tonnes permonth of pre-concentrate material and delivery of additional 350 tonnes of copper units per month (4 200 per annum) to Sable for refining" What happended and why is their no update?

So, I ask the residents input before AI tells me something that is not 100% accurate. However, I think drilling and exploration start with the new partner and second mine soon to be put into action.

Why is there no update or reference to Project G? Will the new partner also focus on project G or only at Molefe? I am concerned that we don't get updates on project G!

RNS: "the focused implementation of an on-site processing solution'.. What is meant with this and why is this left to interpretation? Guess it is for Molefe and what comes to my mind is concentrators at the Molefe Mine? Please let me not be advised by AI but by the residents.

"The joint agreement enables Jubilee to dedicate its focus on the day-to-day operations and the development of the processing solution for the Molefe mine. Outsourcing the mine planning and resource measurement to Galileo, which has an exceptional team with decades of experience and a wealth of in-country and African knowledge, was a natural and pragmatic option." Guess 23.75 % is for this activity and USD 700,000.- for drilling and exploration in other geographical areas

Molefe Mine will generate the revenue for Jubilee, but was the offer to the partner not too generous? Who is an expert to comment on this?

Harmi, it is time to sleep now. Froggie will be laughing about this again. Schizophrenia or having fun when addressing yourself. Analysing and testing! By accident or on purpose? Who knows! It is me.

HappyDays, keep on asking these relevant questions! I enjoy, reflect and think about these! You right to ask these relevant questions.

I close the day with the lofty statement of Leon that they found the highest grade of copper in Central Zambia, and suggested ...owned by Jubilee! Leon is good at sales presentations! Read all the past RNS and actual outcomes! I have done it! Learn from it and read between the lines.

A financial turnaround manager, must turn things around! I have been one, although everything of my CV is disputed at this forum!

MetalTrade, that was my big argument with JMK. Is he competent to run financial matters of Jubilee?

Nevergiveup, I looked into this and asked who got the mining rights! Etc. I asked the question, who will mine? Seems to be 700k to get drilling results + 20 plus % for what? (still not clear to me).

MetalTrade, my biggest concern is that Jubilee still doesn’t report on their drilling or exploration results, nor do they disclose how much they’re actually spending on these activities. It gives the impression that they haven’t found anything promising and now need to bring in a partner to produce results. I may be wrong, but the lack of transparency doesn’t inspire confidence. What is clear is that Molefe Mine will be the real profit generator. Roan, on the other hand, appears to be shifting into a third-party ROM concentrator, while the waste-rock project is starting to look like a dead duck — unless Jubilee can provide solid information proving otherwise.

MetalTrade, the details they’re giving are really starting to look fishy. First the South African sale deal, and now another one. The waste-rock story is the same: 240 million tonnes that cannot be processed at Roan without dedicated concentrators — and it’s still unclear whether it would even be profitable after installing those concentrators. I’ve noticed that nobody wants to talk about this. Yes, Roan was acquired before the waste-rock opportunity, but Jubilee’s approach feels more like placing a bet at a casino than executing a clear, commercially tested plan. That said, Sable running on ROM feed from Molefe will generate cash, and they seem intent on drilling across Central Africa to find the higher-grade reefs. Seems to make sense to invest in concentrators at Sable to get some money from low grade ROM from Molefe.

Not only propoganda. Second pillar was Molefe. I am not sure that Jubilee agreed to take a big cut on this. 70% of the profits for them! Who is mining? Partner mainly used for exploration and drilling? It is not clear to me. Help the ignorant, please!

MetalTrade, it means that 20% plus will go to the JV partner from all profits made at Molefe?

Where are the drilling reports for Jubilee? Where are they? The silence is interpreted as there no significant copper findings thus far!

Again dilution of shares to pay for JV? Ardbeggar, I am ignorant, but I interpret this as such!

Who will do what according to the JV? Mining and mine development the partner? Transport ROM and processing at Sable by Jubilee? Is this correct

Gray, you right that the large (waste) rock surface and tailing project is different from the large waste project (involving elephant, lechwe, etc.). Roan is part of the southern strategy and prioritized as the northern strategy is stalled and require additional refinery and change of ownership, etc.). Apology I used the large waste project referring to large waste rock surface and tailing project. Roan recieves ROM from 3rd party and not own tailing or surface rock, etc. You right that Northern Strategy Large Waste Project is not feeding into Roan. Roan is for the Southern Strategy. Thank you Seis, for updating me. So the 2 additional concentrators for the large rock surface and tailing project will not be at Roan and also stalled due to infrastructure challenge.