The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
In bed with ‘flu, so found myself reading XTR’s latest RNS. 1.1M tonnes of copper at just over 0.2% Cu at their Racecourse project. Admittedly this was poorly received by the market but CB is putting a positive spin on it and plans to move forward.
Why am I posting this? Well the resource is very similar to what we have in the northern strategy (300M tonnes at 0.3% Cu). The only difference is that ours has already been mined.
Nice update. A lot of comments here on Cobalt contribution, and rightly so. But the bit which caught my eye was the leaching of finely ground copper sulphides. I know this process has been around a while, but am unsure if anyone else has scaled it up to work efficiently in the industrial setting. In my view it is a game changer, hugely increasing the mix of material we will be able to process in the north (analagous to the flexibility we have achieved at Inyoni with PGM material).
Does anyone get the impression that Leon, in his final paragraph, is hinting that we might be going for a new build refinery in the north? Hugely expensive and time consuming, I know, but those who benefit from my estate might think this is a good idea!
There are a lot of missing posts on my feed. Not sure if others have the same problem.
A lot of big transactions around the 11.6p mark suggest to me an orderly transfer of shares. Not sure what to make of the late uncrossing trade at 12.2.
The intricacies of the market befuddle me, but my gut reaction is that we are, at last, on the move.
I applaud your optimism, Maidit, and I do believe that a new phase 3 study targeting the DS-DNA positive subgroup of patients has a sporting chance of showing significant benefit from treatment. But we must be wary! For instance, you say:
" IMM is perhaps a one off, that means it must be very close
and the FDA already knows that it works. and a higher dosage would make it a lot more effective
than it already is ATM, which is not a bad thing,",
But the phsae 11b study showed that the results from the higher dose of Lupuzor were actually worse than with the lower dose. We don't know why, but we cannot assume that more is better.
I'm with you on this Nolupus. In the absence of tangible news, I'd go along with a P&D. I've written off my investment here. There is a significant chance we will need another phase 2 study. If I'm wrong (and I hope I am), I'll do a Suella.
Thanks for the link Seis. A lot of stuff we knew already. It looks like we are going for 2 refineries in the north, one jointly and one to refurbish like Sable. I was interested in the talk of leaching oxides more economically and leaching sulphies too. Cobalt seems on track. New material was talked about as though it is 'in the bag'. Lower EBITDA attributed to reduced production due to upgrade, so this is a 'one off'. Wouldn't be drawn om time frame for northern strategy, because the amount of feed we need to produce will depend on refinery capacity, but he felt we should have news on that this calendar year.
Looks full steam ahead to me.
A good set of results, very much in line with expectations, with more to come from the second veneer line in Q4. The BoD continue to keep shareholders in the loop which a strong positive in my book. Nice also to see a pilot carbon credit project on our own concession - no harm in demonstrating proof of concept whilst trying to attract an investment partner and waiting for the wheels to grind.
My only worry continues to be our lack of diversity when it comes to jurisdiction. No mention of Moz, and we are cutting back on third party trading. I am not suggesting Gabon won't continue along its peaceful and profitable trajectory but, in the fulness of time, I would like to see investment in other jurisdictions. I have added a few more this morning.
Thanks Seis. There do seem to be some odd figures and projections in the Zambian section, but there is no doubting the thrust of Cogito's enthusiasm! What was the fourth Chrome project they referred to in section 1? No mention of Dilakong!
Nice to read your yor post, Red. As others have said, our flow sheets are designed to match the 'DNA' of the dumped material and are hence much guarded intellectual property. The W H Ireland brokers note from last year gave as much information as I have seen anywhere.
One interesting snippet was talk of Jubilee doing a pilot research programme of leaching copper sulphide ores in waste. I understand that there are three or four well understood processes but the challenge is matching the best process to the feed and scaling it up to an economic industrial level. However, I get the impression that if we can do this, then the advantages of a hydrometallurigical over a pyrometallurgical approach could be very significant.
I can't help you Ruman. It's been radio silence on Kabwe for a while. The first sign of activity would be moves towards a zinc line, but with all the investment in copper and cobalt I can't see that happening any time soon.
I agree that we have a resposibility to help clean up the abomination of the Kabwe dump. There are a lot of other agencies with fingers in this pie too, however, so there will be management and political issues as well as the purely mechanical ones to sort out. We are strongly promoting our ESG credentials, so I agree that Kabwe sticks out like a sore thumb.
https://www.marketscreener.com/quote/stock/JUBILEE-METALS-GROUP-PLC-4003964/news/Jubilee-Metals-Tackle-Lead-Poisoning-at-Former-Mine-35956533/
https://www.businesslive.co.za/bd/companies/mining/2019-09-17-kabwes-pollution-headache-is-jubilees-big-opportunity/
https://www.marketscreener.com/quote/stock/JUBILEE-METALS-GROUP-PLC-4003964/news/Jubilee-Metals-Kabwe-Project-Status-Update-26860666/
Thanks Seis for bringing this to our attention. Only just picked up your post as I’m in Skopelos.
I like his general comments. On the more specific, we have both been banging on about DRC so good to hear that. I also note he is specific about hedging our bets with three metals. PGMs, copper/cobalt, plus? I don’t think zinc. How about nickel? He works for Vale. Nice to speculate.
While regulars here will know me as a generally positive and relaxed poster, I have a minor gripe in that I would like to see our new Chairman put his head above the parapet. I appreciate that, as the institutions come on board, us retail investors, who have supported our company through thick and thin for many years, become increasingly irrelevant. But
I think it would be a common courtesy for him to introduce himself to the wider body of shareholders. Perhaps a podcast with LC or an investor call, in which he outlines his vision for the company and his priorities. He has been in post long enough. I'd write to the company to say I feel a bit miffed if I didn't know it would elicit a deathly silence.
Having said that, I can't see anything specific to JLP to justify the negative price fluctuation. I do trade with a tranche of my holdings but will not be selling just now.
While regulars here will know me as a generally positive and relaxed poster, I have a minor gripe in that I would like to see our new Chairman put his head above the parapet. I appreciate that, as the institutions come on board, us retail investors, who have supported our company through thick and thin for many years, become increasingly irrelevant. But
I think it would be a common courtesy for him to introduce himself to the wider body of shareholders. Perhaps a podcast with LC or an investor call, in which he outlines his vision for the company and his priorities. He has been in post long enough. I'd write to the company to say I feel a bit miffed if I didn't know it would elicit a deathly silence.
Having said that, I can't see anything specific to JLP to justify the negative price fluctuation. I do trade with a tranche of my holdings but will not be selling just now.