Member Info for HarmProf

BB,

Significant profits await Jubilee in both Q1 and Q2. Some may say this is obvious in hindsight, but the fact remains that the sale announcement referred to only one forward scenario. The details of the chrome JV and its profit structure could provide a pleasant surprise.

I await the Q1 results with interest, particularly the tonnage figures and the specifics of the profit-sharing arrangement. I did receive a rather hostile response from some residents and from Jonny when I explored possible financial models. How quickly things turn around!

The development of copper capacity appears to be progressing less smoothly and carries risks, whereas PGM and chrome operations seem more stable at this stage and likely to deliver strong profits in the first half of 2026.

Seis, I was under the impression that Sable was already upgraded, and switching from copper to cobalt would disrupt copper production.

“What a drama indeed. All Jubilee needed to do was explain the missed target—plainly and promptly. Instead, Jonny left shareholders guessing. Transparency isn’t optional when expectations are missed; it’s the bare minimum. Silence, in this case, speaks volumes.”

We all guessing!

BB, the most difficult part will be to estimate the profit for Chrome for SA JV for the next months.Jubilee will be cash flush due to SA Business for next 6 month. I guess the feedstock "6" has decreased at chrome tailing will not be purchased at Thutse, but a profit arrangement replaces this. 1800 ton of of copper perhaps 5m USD profit for six months. Profits for PGM > 13m + Chrome > 15m + 15m for first down payment sale SA assets for the 6 months. So, likely 48m profit, and after this a steep decline as result of SA Business sold. However, SA business sale will also bring in profit FY 2027

Year End Share Price : Between 3.8p and 4.6p. Of course based on scenario that commodity prices continue to rise and copper production gradually increases in Zambia.

Bottomsup, I await details of the Chrome JV contract, with Q1 profits likely offering good insight (details must be provided). Feedstock should have declined since July 2025. Profits from the South African business will be strong over the next six months, though it’s unfortunate another company will benefit from them after 6 months.

BB, I expected this and bought a few shares today. The Molefe Mine project looks promising, with clear progress and timelines — good news. The weak or missing Roan and Sable Q1 results are dragging the share price down, but the outlook remains encouraging.

When will Jubilee produce publish its financial figures for year 2025 and Quarter 1 performance SA business (only from additional profit perspective)?

It’s remarkable how sensitive some investors are. I said the share price might dip today and possibly a bit more tomorrow, but the decline should be temporary — a chance to lower one’s average. The SP should drop when targets aren’t met, and silence from management makes it worse. Omitting Sable’s Q1 report is a poor start for JMK. I recall the harsh reactions when I suggested meaningful profits would likely come only in 2027 (Gotreal!).

The speculation by residents has returned? RNS is out and we await financials 2025 and financials Q1 (Zambia and SA business). Let us wait.

The share price will likely fall below 3p after the RNS, as investors had expected a stronger Q1 2026 copper production update. Things can change quickly. Fortunately, copper prices are rising, though productivity is declining. Sale is on again!

The share price could decline today following the report.

Q1 South African business profits may help stabilise it.

Let’s monitor investor sentiment and the share price closely.

What was the Sable Copper production for the first Quarter 2026?

Kalan, you sound you are not from the UK. SP still at a discount. Why are we desperate for news? Commodity prices up!

The residents,

Let us be patient. That is all. It doesn't make sense to communicate frustrations, things to do, etc. Let us wait for Jonny! (guess he has taken the lead).

HappyDays, Mufulira Slag JV. No reports so far indicate that this specific slag dump or project at Mufulira has suffered a structural collapse, spill or major environmental disaster.

All residents,

JMK has committed to reporting at the end of September or early October. It would be commendable, and in line with my expectations, if he also reports on Q1 2026 performance – that is what truly counts. An update on the Zambia strategy will also be communicated.

I do not understand the negativity. Commodity prices are rising, Q1 and Q2 2026 profits look promising, and the proceeds from the sale strengthen the outlook.

HappyDays, thank you for calling me an idiot! LC must provide update about all his promises! 6 months has passed.

Happydays, LC must account for the statements he made regarding the £13m slag project. Finish and klaar. Has Jonny taken over? He needs to clarify this. My role remains to check the facts, scrutinise the financials, and demand accountability.

Let’s also compare SLP’s PGM profitability with Jubilee’s for 2025. 🙂

BB, I also added again. I noticed that buyers were permitted to buy at lower prices between 3p and 3,05 by brokers. No news is good news! Hope to add more tomorrow. 3.4p average.