Member Info for HarmProf

Tick, tock! Jubilee clock is ticking. We got a picture as highlight!

We are all back in the Jubilee kraal! The Roast will definitely provide an update through an interview with Leon and their findings. So, let us be patient—news will arrive this week. Mikie said that an update would most likely be released in the second week of February 2026. The second round of drilling is set to start. At least the sky is cloudless and the roads are dry! As for the 3.8 resistance—will it hold? If not, we may drop to 3.5. Is Jubilee becoming a 'falling knife'? It will certainly cut into the 'profit cake', but is this a case of shares being obtained on the cheap, or something else? Tick tock, tick tock, ...

Typical—drilling delayed! Everything is delayed as usual. Why are we receiving this information via an email response from JMK? I guess we’ll get some information or an update from the Roast podcast in the coming days. Did Jubilee pay for the trip, and if so, will the news still be objective? Are the shares currently cheap or very expensive? It feels like the goalposts are being moved again into the distant future.

Goalposts on wheels at Jubilee!

Morning Frog, relevant for JPL at this stage, buy when it goes down, wait for resource announcement. Sell when it go up after resource announcement. Of course my opinion and investor, not a trader. Traders should have opened a short whilst SP was above 5p whilst awaiting RNS.

Kalan, I am content with SP drifting bit lower these days No news is good news for adding to share total. Guess SP will not go below 4p, but if it dips below it than a golden buy opportunity. Fundamentals are still the same, Q2 production affected by seasonal rain. Quarter 3 result only after March and Quarter 4 another few months later. Traders want to cash in profits in the short term?

Suvlin (as mentioned before) I look forward to lower SP to add to my total. Have done the last 2 days, and most likely to early. However, South African SP really at a discount on Friday! No news is good news - March 2026 will be fine and of course with positive news (most important)!

I am not entirely sure, but JLP operates in a region with several months of heavy rainfall. As investors, we must be updated on how they ensure consistent production during the rainy season. It is unacceptable for productivity to drop by 10% or more due to the weather. This aspect should be covered in the Feb/March report.

Seems to be that every share was bought up around 4.8p. Let us see what happens today! First JLP update in March 2026?

Is JLP’s share price undervalued?

Yes, without doubt—the most difficult part is estimating by how much.

I wait for dips in the share price, to be honest, in order to accumulate more shares. I am not keen to see the price going parabolic at this stage, as I want to buy more at a lower level than it is at present.

Perhaps I even welcome all negative postings that bring down the share price 🙂

Come on derampers or frustrated investors - bring it on!

Do JLP include the costs of upgrading processing capacity in their cost per tonne? (Question)

My understanding is that JLP allocate all developmental costs—such as road infrastructure and eco‑critical capacity expansion—under production costs.

Net profits are unlikely to be impressive for the Zambian operations in H1 FY2026, and most likely also not in Q3 FY2026. However, the picture could change significantly in Q4 FY2026.

I keep cash at hand to increase my shareholding when disappointing production or profit data is released (short‑term issues). I also anticipate the release of resources after Q4 FY2026, as we are still ramping up production.

Hi Chatmandu, I am currently holding a position with over 30% profit and remain focused on the broader strategic milestones rather than immediate production metrics. In my view, the upcoming resource definitions for the Molefe Mine and the Greater Molefe Area (including Project G) are the primary value drivers. Furthermore, the final profit plan for LWP and the broader Mopani strategy remain more critical than current productivity assessments.

My concern: 1 )the bottleneck in deploying the processing units required to monetise the 2.4 million tonnes of 0.7% low-grade copper at Molefe. 2) Roan It is used as third-party processor—upgrading Run of Mine (ROM) for transport to Sable—the margins here appear inherently capped, which may limit its overall contribution to the bottom line.

Mazerunner, are you a trader? I see that Seis or Sies as you most likely deliberate made the typo cause havoc again with comments asking you why are here? The share price of Jubilee will follow the market sentiment and will be dictated by traders till resource announcement and or pick op in productivity after Quarter 4. So, I will buy more when prices severely dip again. Jubilee await exiting projects finalisation e.g. LWP, exploration and finalisation of resource mapping Molefe Mine area, and greater Molefe area, including Project G and Mopani. SP should be much higher, but Jubilee must create the investor trust again to reach and surpass that level.

Kalan, thanks for responding and still being around. I look for opportunities to increase my total holding. 5p was resistance and not yet cleared. Traders taking advantage on the waves of big sell off. Fundamentals remain the same so any dip is a buying opportunity. Perhaps waiting to long and miss the bottom. I did not buy today, but should have. Hope you bought a few shares after your exit. Copper demand will outstrip supply in the years to come. Jubilee production of copper will accelerate at or after Quarter 4. The calls for production numbers or break even is inappropriate. Communication about errors in strategy is also not relevant and outdated. We await resource announcement Molefe, LWP finalization, Mopani, drilling result greater Molefe area, including Project G.

Yes mazerunner, it is about profit taking, liquidation, etc. Waited for a dip to load up more. However, not sure if the dip for Jubilee Metals is only today or for the next 2 days.

Seis, not very helpful to query the lack of managerial action by Jubilee ("We know that there's a bottleneck at Roan with not enough drying capacity to send all the production to Sable") Why? Backlog will be cleared and year result will look healthy! Likely Sable got enough copper feed from Molefe.

NGup, are you in Zambia or South Afrika on holiday! We had a lot of rain in the north east of South Africa with flooading. Mozambique was worse. Zambia mostly affected - eastern part.

Bottomsup, and others. Jubilee plans to monetize the 240-million-tonne surface waste rock (LWP) by partnering with third parties. Under this model, partners provide the upfront capital for processing units, while Jubilee provides the technical expertise to design and operate them. Jubilee earns via a management fee and a share of the profits (or loyalty fee). By processing 8 million tonnes per annum over 30 years, Jubilee eliminates massive capital expenditure, ensuring immediate cash flow once operational. This low-risk profit can then be reinvested into assets like the Mopani refinery to upgrade concentrates into high-value copper cathodes (and cobalt processing when the unit is up and running and prices still high). Is this the strategy Jubilee?

Perhaps the should focus on more than 8 millions tonnes per annum e.g. 16 millions (27 concentrators 50tpm capacity instead of 13.

Floating or leaching to be added to the units? How will the design of the processing units be?

Platinum : Profit-taking, leverage flushes, and liquidation games are the name of the game right now. The USD is still sliding while commodities climb, but not sure for how long .... Fed today! Let us see what happens.

Gold/Silver: Routine US profit-taking; Asia buys back.

Copper: Solid. Fundamental demand is keeping it high.

JLP (London): The 5p level is the only number that matters for momentum.

JBL (JSE): Trading cheap. Arbitrage says the JSE price has to move up to match London. So SA traders / investors take advantage.

Jolly!, I agree that it is time to review the board members. South Africa is out of the equation and we now in Zambia. Perhaps a political figure from Zambia should be on the board! Dr. Mathews Phosa is the chair and my interpretation is that he is a political appointment. So, restructuring should continue and he should do the honourable thing and resign and leave a place for a prominent political figure from Zambia!