focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Thanks for posting this, Seis. You have to use the eye of faith slightly, but certianly the recent movements bear out the hypothesis. I wonder if Leon sees us as an even bigger player in the chrome arena in years to come. I quote from the last RNS
"§ The Agreement is in line with the Company's growth target of reaching an annualised production rate of 2 million tonnes (in excess of 60% increase) of chrome concentrate over the next 24 months."
And, as an addendum, that means another 10,0000 oz of PGMs to process, so your question about where this is going to be done becomes even more relevant. I suppose one possibility is that one of our existing arrangements will come to an end and the new material will fill the gap.
Thanks Seis. A lot of work went into that! Your estimate of the production from the new joint venture may be on the low side - always a good idea. The 'option' to increase production to 720,000 tonnes appears to be a little more than a mere option. Leon states "Jubilee targets to complete the expansion, to 720 000 tonne per annum, within 12 months of commencing operations at the retrofitted facility." But it seems that the retrofitting will complete by the end of this month as far as I can tell. Of course, there will be commissioning, but if the enhanced facility commences operations in July the further expansion might be complete by July 2024. Of course, it's not nailed on but is more than a possibility.
Nice RNS. I wasn't expecting the next news to be an expansion in the west, but it makes perfect sense and takes advantage of our core strengths. No details, of course, but I expect there is a quid pro quo here. We get a bigger cut of the chrome revenue, but our partner will get something from the PGMs. This is the message behind the comments that the deal helps to buffer us against fluctuations in commodity prices. Congratulations to the BoD. The deal leaves Jubilee in a stronger position.
Zambia on track, which takes the wind out of my last post! 60% buffering against load shedding still leaves room for improvement.
I think you will find all squids are damp Peggy- it’s something to do with where they live. I suspect you were referring to a squib that fails to go off when wet.
Be that as it may, I bought in here as I wanted a copper exploration play. To my simple mind, without the JV the squib was doomed. Now I’m looking forward to the fireworks.
We know the average grades at Letchwe and Elephant. The ROM material at Roan is 2% Cu. I agree we have not been given a figure for the tailings at Roan. https://www.nsenergybusiness.com/news/jubilee-copper-tailings-zambia/
Jubilee bought into the copper tailings in Zambia in two tranches. RNSs related to the first transaction talk about 2% Cu run of mine material from third part suppliers but do not state the grades of the tailings in Ndola. For the second major transaction we are told
" The Tailings have been previously drilled and sampled to confirm both content and size containing on average 0.3% copper and 0.05% cobalt."
What other information about grades have we been given, and what are the actual grades?
There is not silence on this board, just a dirth of interesting threads in the last couple of weeks.
Discounting the irrelevant 'down, down, down, dog of a share, lol, ha ha ha' posts (and equally childish 'wow! 80p by end of month choo choo choo posts) and also pathetic attempts at manipulation (viz Slater selling/TR1 stuff, which tells us all we want to know about the poster's understanding of the stock market and his agenda), there have been other negative offerings backed up with factual information. But I think there is a problem with these in that only the information that supports the argument is presented - in other words a lack of balance.
An example is the constant reference to a massive drop in earnings per share last year compared to the year before. This is undeniably true. One problem here is the unprecedented spike in the price of palladium and rhodium in 2021. Statisticians would regard these price points as being 'outliers' when analysing price trends. Allowing for this, the Sp drop is not so marked and corresponds fairly well to a regression line constructed from the data Seis has posted. Other factors are at play, of course. Headwinds include inflation, war, lockdown in China, global recession, fuel costs, and a consequent general exodus from high risk investments. Add to this the disappointment of a 6 month delay in copper production, the dumping of warrants and power issues in SA and the slide is easy to understand. We do not need to invoke fundamental problems with our company or its management. On a positive note, Dorfan has highlighted the cushioning effect of the weak rand on our sales which are made in dollars. As a previous head of a highly successful metals outfit in SA his posts command our respect.
Two other posts casual passers by may have noticed refer to directors selling shares and copper grades in our dumps being lower than expected. Just to point out that the latest RNS on director share dealing is the purchase of shares by LC and Ollie. The dumps have been drilled. I cannot put my finger on a JORC compliant report, but the Cu grades are roughly equivalent to those some miners are now commercially extracting - the only difference being that someone else has already dug ours up for us.
A while back there was a gloomy poster here called Kitchens. He rejoiced in the Sp drop from 19p to around 3p. His rhetoric was just the same as some other posters around today. I ignored his advice and bought a shedload, 2/3 of which I sold at 18.5p - the single best investment I have ever made on the stock exchange. And now, I can hardly believe it, , I've got an opportunity to do it all over again!
I have no grouse with BT. It was he who reminded me that the Sp of companies goes up and down (thanks for that insight). If he has made good money shorting this share, then 'well done'. I expect to do the same going long.
Two other
"Should have taken 16p when I said then instead of ramping then filtering me when it went wrong lol"
Probably inadvisable to make any tade on anyones advice on these boards, to be honest. It's a too easy, when posting messages like this, to have a selective memory. Just as an example, I'm happy I did not take your advice when you posted this (I would b 60% down by now)
re:HUM. Sp 22p. (Having crashed from 42p over the previous six months )
Relax (!)
"This is a 100k producer, profitable, has depreciating liabilities, with money in the bank and gold in reserve.
Cash and gold is circa 15% of total mcap, this is cheap and it keeps getting cheaper.
AISC guidance is 1350 for the year but with production weighted towards the second half, so even if it's 1500 for Q1 with an average pog of 1800, that still 300 bucks or 8.75 million USD earnings on top of the cash and gold at hand, i think we'll be okay."
Currently, I would say JLP is cheap, and it keeps getting cheaper; but, on balancne, my advice is just not to give (or take) advice!
Nice to see the protocol submitted. I guess the FDA will approve, seeing as how we have worked quite closely with the agency to get this far. Then the actual protocol will be made public. I am looking forward to that, so we can have a good look at timings, entry criteria and end points.
I am aware of the document you reference. The situation at Kabwe is cokplex with, as you point out, human rights involvement, potential legal action against Anglo, the government of Zambia, input from the World Bank and a host of other agencies with fingers in the pie.
But that is not the point. Your post seemed to suggest there is a problem with the mining license at Kabwe. That it was not granted or revoked. That is simply wrong. I'm sorry if my being picky irritaes you. I can't help it!
https://www.investegate.co.uk/jubilee-metals-group--jlp-/rns/kabwe-mining-licence-renewed---board-appointment/202009141230029244Y/
Just looked at the video. Much more professional than previous efforts. Well done.
So, if we simply adhere to the facts rather than the ether, the mining licence currently has about another eight years to run. I believe CB was on the BMR board when we were a shareholder, but I think it is disingenuous to tar our current board with BMR's brush!