Member Info for Iluvise68

JMK.

I'm told there are small delays with the external lab which is processing the results. they are overstretched with the amount of work at present. They have the results from in houser labs but these cannot be used by the competent person as the lab results are internal not 3rd party . This is necessary for JORC compliance.

My summary of the transcripton:-

1. Molefe Mine Expansion – Strong Geological Signals & Tier‑1 Potential

Operational performance

Molefe has rapidly scaled up following first production last year and is now a major contributor to the group’s copper output.

Two drill rigs are operating continuously to advance resource definition and mine‑blend planning.

The site has undergone a significant transformation with improved roads, upgraded infrastructure and preparations for on‑site processing.

Geological potential

Current visible strike length spans pits 1–9, potentially 7–9km of shallow, open‑cast reef.

Early geological work indicates a possible parallel/repeated reef structure, which would significantly expand the resource footprint.

The CEO signalled confidence that Molefe could ultimately evolve into a Tier‑1 copper system, explaining the continued acquisition of adjacent ground.

Near‑term processing uplift

A first on‑site processing module is expected to be installed within weeks, enabling grade uplift from roughly 0.7% to 2–2.5% copper for material sent to Sable.

Assay delays in Zambia are slowing formal release of drill results, but early data is already informing mine plans.

2. Large Waste Rock Project – Advancing Toward Commercialisation

Asset scale

Jubilee continues to progress its very large waste rock stockpile in Zambia, estimated at around 250 million tonnes.

This remains largely unrecognised in the current market valuation.

Partner negotiations

The project has been narrowed to two preferred partners, with commercial terms under negotiation.

Jubilee is now negotiating from a much stronger position than in earlier years due to the improved understanding and increased perceived value of the asset.

Processing approach

Initial modules are designed to produce >1–1.5% copper concentrate from 50,000 t/month blocks.

Additional upgrading to higher‑grade concentrate can be done either internally or by partnering with nearby established refineries.

Timeline

The project is expected to be either operating or near commissioning within the next 18 months and is positioned as a major medium‑term growth driver.

3. Sable Refinery Will Reach Full Capacity From Molefe Alone (12–18 Months)

Current performance

Sable’s copper output is increasingly driven by oxide feed, which supports strong cathode production and full-value realisations.

Capacity constraints emerging

As Molefe continues to ramp, Sable is expected to reach full capacity within the next 12–18 months, fed predominantly by Molefe alone.

This is likely to displace Rowan feed from Sable.

Rowan’s new pathway

Rowan is expected to increasingly process and leach its own production and may ultimately justify a standalone refinery, similar to Sable, as volumes rise.

Valuation disconnect

Management believes the market does not properly reflect:

Molefe’s emerging scale

The large waste rock project

Rowan’s stable output

Sable’s strategic importance

Remaining

All sounds very promising. And not reflected in the SP?

It’s just gone a bit quiet - frustrating for those who want instant results, should be news by month end.

It’s undervalued on any measure. Morningstar fair value is 7.3 pence and that will be revised when more news is out this year.

Motley fool write up https://www.fool.co.uk/2026/02/03/could-this-growth-share-be-a-millionaire-maker-at-4-8p/

It’s a massive area of discarded ‘waste’ from adjacent mines. It’s a good question what might lie underneath.

Galileo Molefe Website update https://galileoresources.com/projects-operations/molefe-copper-project/

Very clear indication that there is a sizeable resource at M and opportunity in the surrounding area- won’t be 4 much longer imo.

Thanks for sharing, onwards and upwards!

Perhaps they are going to post/RNS the chosen Q & A later this PM?

Any feedback from AGM/responses to questions?

Best not to get ahead of ourselves but why increase Sable refinerys capacity to 14000 pa unless they have confidence they can feed it...

and the institutions e.g premier milton see the opportunity.

the resource update will be key here. Would rather hang on for the ride than accept a low ball offer.

Difficult to find on the map?

Paywalled unfortunately - is anyone able to copy and share? Appears a positive take on hings

Is that right ? A shame if correct but not unexpected given the level

Of toxicity and allegations flying around on here.

Source for this info?

SHARD CAPITAL research note out although paywalled - can anyone share?

JV may vend in some of their assets to share in the processing profitsd (eg. Gallileo - GLR - Luansobe?)which is the topic of disucssion on that chat discussion.

An important point re M is that the monies spent to date on Molefe mine (e.g mining and infrastructure/not sn inconsiderable sum) are to repaid first before any monies are shared between Jubilee and Galileo.