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Come on! By no stretch of the imagination could today's activity be described as a dead cat bounce. The feline is alive and purring.
Interesting that in The Roast Leon once again said we would be looking to increase refining capacity either by some partership or by a purchase. Something is being worked out as I type!
Thanks Mikie for keeping a smile on the board.
I think some posters here underestimate the logistic challenges of operating in Zambia. I found this well written and illustrated article very interesting:
https://www.bloomberg.com/features/2022-africa-copper-supply-chain-snarls/
However, the module at Roan is based on our much vaunted chrome modules, so one hopes the lesson had been learned in SA. I assume the same control electronics will be needed for the Munkoyo module and the OB1 modules. I hope we have ordered them already!
The two new small mine projects are interesting. 250,000 mt at, say 1% Cu, will be a very short payback time. I am still wondering how it is all going to be refined and whether we will be involved in that process.
From the information at company house and their linked in page it would be very surprising if this company had suddenly built a 3% stake in JLP! From their accounts they did have just enough cash in hand to buy these shares, but significant shareholding in any other company does not appear in any of their assets. Perhaps there is another Peppermill!
Quite so POORS and vice versa (this made me laugh)
https://news.sky.com/story/car-industry-insists-2-000-increase-in-sales-to-azerbaijan-has-nothing-to-with-russia-13097685
Hi Ard. I reckon a seller has finished. Maybe the options shares have finally gone. I’ve noticed this few times with JLP. The Sp moves fast.
I noticed a single share deal too, if you believe in that sort of shenanigans!
Mickie Seis Northern, as you know I am upbeat about our company and confidently expect an uptick in our fortunes soon. If things progress to plan, though we will easily exceed our refining capacity. We will be producing a lot of oxide concentrate ( more the 7% Cu, slightly down from previous 8% perhaps due to variable grade of OB1 ore). I am not sure what price this material will fetch on the open market. We will get 30% of that.
Which is all another way of saying I am watching the Chambishi space with bated breath. Do you think the JV would be interested in this facility?
Edzi, Seis is right. The figure does not include the 9,000,000 million (approx) options exercised earlier this month si it cannot represent the current situation. Also there would have been a TR1. Nonetheless, Jupiters exit will have been a huge overhang and we have seen before that this is a share that can move extremely quickly when big sellers have finished.
An extra $1 on the toll would pay Leon’s salary with a bit left over for Ollie! But as Seis says they would surely shout an improved deal from the rooftops.
Nice article Moneyman. Nothing new, of course, but a handy well written summary.
100% agree Seis. We now have a plan! And it is an exciting one.
Cobalt is the interesting one, and I'd value your take on it. There seem to be a lot of differing opinions on its future. On the one hand the Chinese, who are years ahead of the rest of the world in battery technology and manufacture, have moved substantially away from cobalt. On the other, some countries (the USA in particular) aare getting jumpy about this near monopoly and are promoting their own industries in which cobalt is predicted to have a rosy future. I suppose it all depends on the developments in technology and I don't have the background to assess the merits of the various arguments.
Yes, I agree with your sentiments, Mickie. I don't think K could have been referring to the CFO as he has been with us for only 6 months whereas NT joined the team in 2020. I like's K's historical perspective though (he missed out Smokey Hills, but sometime your brains censures out unhappy events). I agree with him that we have been something of an industrial chameleon, adapting to changing circumstances without any fixed long term strategic plan (it's easy to say you had one in retrospect). In fact, I suspect our entry into Zambia was initially for the lead, zinc and Vanadium. Then we found there was copper lying around and found we could process it using the skills we had developed from our Dilokong operation.
Some people have criticised the company for this lack of clear planning but I see it as a strength. Failure to adapt in the commodity business is a recipe for disaster, adn, as you point out, we have adapted big time.
Yes, ‘things’ can change Kalan. This is the sort of insight which draws me daily to this board. The price of chrome could drop, though there is no sign of it yet and demand , especially from India, remains strong.
I suspect the investors who will be disappointed by copper production in the next set of figures will be precisely those with unrealistic expectations.
I think you will find we diversified in multiple metals some time before the financial bloke (Nicholas Taylor I assume) was appointed.
Agree Seis. I am not under any illusion that Sunday Roast interviews are little more than a choreographed charade, but Archer pinned Leon down to saying news on OB1 project will drop by end of March (subsequently modified to 2 weeks) and Roan still on target for comissioning and ramp up by end of April. He also said Sable would be at full capacity in a matter of months, not years. When pushed on Chambishi, he hinted we were looking actively for increased processing capacity, but this could be in the form of partnership. Current warrants are largely historical with exercise prices double today's Sp. Thutse upgrade - first module within two and a half months, I think. Munkoyo is on schedule.
After all the delays and disappointments, I don't think Leon can afford to say these things unless he is confident in delivering.
I disagree with Kalan that 'much depends on IRH deal'. In terms of revenue, this is going to take time to come through. Yes, any undue delay will affect sentiment and thus short term fluctuations in Sp, but we Roan and chrome upgrade are our immediate priorities. FWIW, I believe the IRH project's most valuable outcome is going to be a demonstration to the industry of what we can achieve and hence unlock the potential for future, more lucrative deals.
BT has been pretty rude to me and to many others on this board, but I don't like seeing anyone lose money and certainly have no time for gloating over another's misfortune, so I hope HUM extricate themselves from their current pickle. Meanwhile, lots of Jubilee shares change hands and the tick up suggests there is no shortage of buyers at this bargain price.