Member Info for Jonah58

You're not allowed to make it up as you go along, BT. You said 5.5p on 22nd of March, so that's your official guess. Don't worry. You're still winning as of today.

Moneyman64 12p

Jonah58 18.76p

Nelson the Dog 26p

Bushy Tailed 5.5p

Wild guesses so far for end of calendar year 2023. It's a pointless exercise really, but less costly than doing the lottery.

As far as I can remember, the issue of a take-over was raised at a Q&A, to which Leon replied they'd have to offer a huge amount. I take that to mean "no".

I’m sure you know that predicting the Sp 12 months ahead is only for soothsayers, but, for what it’s worth, I think the Sp will be higher than it is at the moment and your investment will be showing a nice profit.

I agree GordonB, and we should rmember that PD is going to take a special responsibility for the carbon credit business. A personal investment of £45,000 is not the behaviour of someone anticipating doom and destruction!

User, as Obi says, the 1.2 billion shares will be purchased by the two new investors. Hopefully they will hold onto them for a bit, but I don't see any clause requiring this. In addition another 350 million shares are going to pay off a loan and Rhino (Pelham) is getting 60 million shares or warrants for its services. On top of this another 1.2 billion warrants are being issued which can be exercised at 1p. All of this represents massive dilution to long term holders like me who are very unlikely in a normal human lifespan to get their money back unless the carbon credit business skyrockets.

Of course, I'm glad the company survives and there has been a rally in the Sp, but if your average is 6p, 150% of FA = FA!

I'm not trying to make anything of this, really. Just bored of waiting! But if there is a confidentiality clause, it should apply to IIs as well as us. Also, I accept large investors get more information, but they shouldn't get market sensitive information that isn't in the public domain (not saying that doesn't happen, though.) Anyway, as you say, things may be a bit clearer after the update even if JLP's idea of clarity is somewhat unclear.

NS - I was wondering whether the fact that the JV is with Glencore (if, indeed it is) should have been mentioned in the RNS as it is certainly market sensitive information. However, I note that recently in the Q&A between Leon and the analysts he talks about the JV with Northam, whereas to us simple retail investors Northam is relegated to the anonymous 'JV partner'!

Happy43, I think Seis has given you the answer.Our Sp is tracking the basket price of PGMs. As a mathematician the graphs are convincing. The market is not pricing in copper until it can see it on the bottom line. Historically, I can understand that this is wise! As Mickie points out, I was reassured to see that copper production is in line with guidance. I believe there will be a rise in Sp (modest) when this is factually born out by RNS.

Extract from chairman's statement:-

The US$953m NPV of the Project equates to 44p/share, or approximately ten times our current share price. Our Project has been significantly derisked by the favourable DIA decision and other lithium stocks which have also completed a Scoping Study on their respective projects trade on an average multiple to their net asset value of around 0.3x. Savannah currently trades at just 0.1x, so we will be marketing extensively over the coming months to highlight this investment opportunity to market participants. Furthermore, as we move through later milestones, such as the DFS, we expect a re-rating in our multiple to the 'post DFS' peer group, currently trading on an average of 0.5x, and the lithium producers average of 0.8x net asset value. From the position we are now in with the Project and given the commercial interest we are receiving around future offtake and partnership, I firmly believe Savannah can unlock these materially higher valuations over the medium term.

PS Your (correct) observation startlingly highlights the effects of climate change and the urgent need to invest in commodities essential for the green revolution - especially copper.

At last you've got one right, Bushy. I've got to agree with you. In 2022 there were numerous reports of swallows in the SW of England in January and February. I think a maximum of 12 birds were seen at a time. Maybe 13 swallows makes a summer?

Hi Summit. I don't think the grade of the tailings has reduced. In fact, some time ago, there was some unsubstantiated speculation that the PGM grade of ROM ore coming to Inyoni would increase. As others have pointed out, it looks as though Leon sees our future as a chrome producer as well as PGM and copper with plans afoot to increase chrome by a further 60% within 24 months. It will be interesting to see how this chrome will appear in the accounts. It is beginning to look substantially more than just a PGM credit.

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.

Nothing surprises me about this share, Dorf. However, I share the no news concern. We were assured that Roan would ramp up to full production and comercialisation in May. That would be newsworthy, and May has passed.

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.

More or less as expected. Nice to see the increase in chrome credits mitigating the reduction in PGM basket price. Eastern limb on course. Cobalt on hold. News on Northern strategy costs and timeline at end of June.