Member Info for HarmProf

Ah yes—Monday rolls in, the plebs return with their snobbish jabs, and the market serves up a clearance rack of undervalued shares. Classic start to the week. Let them scoff.

Let us do the hopeful calculation for Jubilee $ 70m Zambian assets, $90 ZA Business, $ 60m ZA 6m profits = S 230m / 2.65B shares =

$0.0868 per share or 6.96p per share. Possible, yes, but could be within a year. Scenarios, scenarios, etc. Anyway, sale is on!

NeverGiveUp, I add weekly to my average when SP hovers around 3p for JLP. No fear at all, but an investment choice.

SeisNav, agreed. My intention isn’t to publish numbers Jubilee hasn’t disclosed—just to understand the share price behaviour. Historically, it tends to bottom around October. This year? Likely yes, if Jubilee remains silent. Likely not, if they provide a meaningful update.

SeisNav: My aim was to understand why JLP’s share price hovers around 3p. I focused solely on copper NAV—around 3.1p per share for 5,100 tpa—leaving other assets out. Add how valuation will move up with profit. Worst-case and upside scenarios across Jubilee’s portfolio suggest a possible range, with 15p+ achievable (best case) within three years if delivery and disclosure improve. I don't belief that the range will bottom to 2.6p.

For 4EL, the net asset value (NAV) based on 5,100 tonnes per annum of copper production sits around 3.1p per share. Once profits are factored in, that figure edges higher—naturally, profitability enhances valuation. The next key step is for Jubilee to provide clear, credible evidence of copper production to the market. That confirmation will be pivotal in unlocking value and restoring confidence.

Kalan. No, I did not do this! Just worked on various scenario's this morning. Happy investing and it is sad that so many are scared to buy when the prices are low.

4EL’s current price of around 3.1p seems fair, given its copper production target of 5,100 tonnes per annum (tpa). An injection of $30 million could lift the valuation to approximately 4p. The upside potential is even greater once Jubilee Metals Group (JLP) surpasses 10,000 tpa in copper output. With strategic expansion, JLP is well-positioned to reach 25,000 tpa within the next three years. Wishing everyone a fruitful few weeks of accumulation!

Added to my position yesterday. Limit orders were successful.

Buy cheap and be patient—that remains the enduring principle. At current levels, the price of 3p is not unattractive, particularly for those with a long-term view and a tolerance for near-term ambiguity.

The market, as ever, is unlikely to price in upside until financial results offer compelling evidence of operational momentum and earnings credibility.

I did not add to my position today. Instead, I continue to monitor for an ideal entry point. There is no urgency to chase. In this phase, discipline matters more than timing.

Let others speculate. We should accumulate quietly, with purpose. (believers)

Thank you all for the positive posts today! As I’m based in South Africa, I can’t buy you a drink, but I’ll certainly enjoy one with the braai! If you believe in Jubilee, don’t wait for the share price to climb before adding – the best time to buy is when it’s cheap, very cheap. I’m hopeful the crypto markets will pick up in the coming weeks, and I’ll look to take some profits there to add further to my Jubilee holding. For now, I’ve used free cash and booked some profits from Renergen.

Thank you also for the reminder on Pan African Resources. Yes, Barberton offers very high-grade gold, but the question is whether to buy at this level. Gold – cyclical or structural? That’s for each investor to decide.

Cheers – and let’s hope AI reminds us not to drink too much!

Fprever;pmg.

Jubilee (Copper) may well reach its 25ktpa target by 2027, but the path there is unlikely to be linear. The share price, in the interim, could disappoint—particularly for those who entered at the 2021 highs, drawn in by ambitious projections and optimistic tone.

The challenge lies in reconciling stated targets with operational delivery. Modular rollouts and evolving timelines have made production figures difficult to interpret, and each RNS seems to recalibrate expectations rather than reinforce them. This has left many investors navigating uncertainty rather than clarity.

So yes—enjoy the ride, but do so with discernment. The next 12 to 16 months may test patience, especially as copper output remains unpredictable and sentiment fragile. Strategic accumulation will favour those who look beyond the headlines and assess substance over spin.

Wishing everyone a wonderful weekend. Patience is key—let the sellers do their thing, and we’ll pick up JLP shares at a discount in due course. No buys today; better deals will come.

Seis, I can’t change my past, nor do I pretend to. But I must say, your response felt more like ridicule than dialogue—especially when I corrected Gotreal. That sort of tone does little to advance the conversation.

2026. Apology!

The integrity test for Jonny! Improved reporting for Jubilee.

1) Zambia copper strategy with realistic targets, including estimates for earnings, profit, etc. Anticpate a report first week of October 2025

2) Quarter 1 result 2016. > $15m, likely close to $ 18m before tax. (my estimates, projections).

Nevergiveup, best to simply ignore Gorteal. He quotes RNSs verbatim but has yet to engage with the substance—let alone analyse how materially things shift between quarters. His reality begins and ends with the RNS, despite its history of overstated targets and shifting goalposts. That sort of selective reading invites speculation, not insight.

Frog, I appreciate the feedback and accept it in good faith. I recognise the need to adjust my approach. That said, I would gently suggest that residents also reflect on how they engage with newcomers. Labelling someone a liar or resorting to personal attacks is not only unhelpful—it’s unacceptable.

As for Jubilee, the shifting targets in each RNS are increasingly difficult to reconcile with operational reality. Many appear overstated, inviting speculation rather than fostering clarity. A more grounded, outcome-based approach would serve all stakeholders far better. Jonny would attend to this.

"Well done Harmprof, quite an achievement. Between you, Papawinki and your other mates you seem to have killed this board off. Even the regulars have tired of your incessant posting and gone off. I shall.gollow forthwith and leave you in here. "

Frog

There should be 35,000 tonnes or 1,050 tonnes of pure copper at Sable from Munkoyo as per RNS September 2024 (Jan - Sept, grade 3% as stated).

https://www.investegate.co.uk/announcement/rns/jubilee-metals-group--jlp/zambia-copper-and-sa-business-proposed-sale-update/9030503

Interesting link also with more information and we likely to expect copper tonnes from Munkoyo between 945t Cu and 1,785 t Cu using the updated figures 4,500 t and 8,500 t. No opinion, but from the Regulatory Announcement released 06 August 2025.

Https://www.sharenet.co.za/v3/sens_display.php?tdate=20240923080000&seq=2

I hope this link is readable.

Soon, we will be updated about the 2025 Copper Strategy.

if not past the following v3/sens_display.php?tdate=20240923080000&seq=2 after https://www.sharenet.co.za.

For today’s task, could you please provide details of the capital invested in Zambia, together with the revenue, earnings, and net profit. I would also appreciate the same information for the South African business.

Gotreal, good morning! SA business provide the funding for Zambia business at this stage. What is your problem?

Investors must reflect on when they are likely to be in profit. I have undertaken this exercise and, fortunately, have sufficient capital available to lower my average. My concern remains the lack of transparency regarding the new joint venture for the South African business, and I have clashed with Jonny on this matter. In my view, the South African business will deliver significant profits, and while I expect excellent profits from Zambia, the question of whether we sold too early remains on my mind.