Member Info for Jonah58

JLPos, if you are the poor stepsister, I am the destitute third cousin twice removed. I had to sell the bulk of my holding to solve a family problem last year, leaving me with a mere 400,000, but the way this is going that is still no peanuts, I suppose.

Good to read different views on this board and I have no problem with Homey's agenda. Just a couple of points, though.
I think it is wrongl constantly to be making comparisons to SLP. We deal in the same arena, of course, but SLP is a far more mature company which made its major investments well before us. Or trajectories are offset by a good number of years. In the end I believe we will reach higher because of our diversity but accept that this brings its own challenges too.
My second point is to ask TG5 to reconsider and share with us the destination of the money he/she got from selling JLP. If smeone sees a better investment opportunity than this one at its current price, I for one would want to look at it very closely.

I agree Mikie. It looks as though we are set for a bumper year in 2022. For me, the main message from the RNS was the lack of any gremlins. Production and revenue from PGMs down but this was expected and the blip is temporary. Commissioning at Roan is on track. Expansion into the eastern limb seems a given. Lechwe due online in just over a year.
Two other points. Clearly our joint venture with Northam at Eland is still ongoing. We will be sending less material there, but there will be some additional ounces from this source during the current year. Also, I picked up this point from Leon: '... concentrator situated in Ndola (Project Roan) that delivers copper concentrate to our Sable Refinery and third-party suppliers....' So it seems not all the output from Roan is destined for Sable. Are doing some toll processing there as well?

Good news all round. I'm feeling bright eyed and bushy tailed this morning.

I don't think we should become fixated on bettering our performance month on month. Last year set the bar very high. A good solid set of results is fine by me. The company is on a great trajectory and there will inevitably be ups and downs. I have a three year horizon and am relaxed and happy with my investment.

Happy, I am a strong supporter of JLP, but the article you refer to is not very good (and that is being kind). Still, the figures speak for themselves.

fatwil, I don't think you missed out. I was pretty quick on the draw and was offered 4.1p soon after the market opened.

I seldom post here, but have a small position and have read with interest the various explanations for the price action here today - so thanks for that.

By the way, has anyone any idea when we are going to hear the assay results on the most recent drilling cores?

I very sincerely hope not, 3Card. We need your valuable input to this board.

Hi Bushy: in reply to your question
"really, they've been saying this for 2 years now, how much copper is being produced exactly?" the answer is'not much so far'. But 'not much' is different from 'still NO copper'. My point being that one's current take on the company depends on the point of view from which you observe it. I thoroughly respect your reservations but from my own point of view 'still no copper' is a negative distortion of what is currently going on.

This is that:
50k ounces in a year disrupted by commissioning and Covid, with all revenue attributable to JLP. Increase expected the following year
DCM stockpile fate unknown.
Significant value adding fund rase at a premium
No news on Tjate.
Patent expired on Conroast but we don't smelt anyway.
Copper currently being produced in increasing quantities
No lead, zinc, vabadium (good point)
Inyoni refurbishment ensures long term viability of the cash cow.
Colin sells shares well below the high.
PGM revenue incresng substantially year on year
Respected fund managers taking substantial positions and adding to their holdings.

It all depends on your point of view.

I'm with BB2 on this one. I never expected any of my questions to be answered (it's the Jubilee way), but there were hints. BB spotted all the ones I picked up, but maybe I could add the reference to greater communication re our ESG credentials, imminent announcements re the make up of the new 'Globalisation' unit, and continued research activities into improving our recovery techniques. There was a general atmosphere of buzzing activity in the background and I would not be surprised to hear of further ailings joint ventures in Zambia. It looks like PGM production is set to increase in SA next year and Colin thinks our target of 25,000 tonnes of copper per annum is conservative.
I'm pretty happy, but agree the vanadium volatility cop out explanation was disappointing.

Just thought it worth pointing out that our neighbour is investing a staggering amount to become an African (and world) leader in the production and distribution of green hydreogen and its derivatives. Plenty of PGMs needed to produce and use the stuff, of course.
https://www.energyglobal.com/other-renewables/10112021/hyphen-to-implement-green-hydrogen-project-in-namibia/

Yes, I saw this Gotreal but it is at odds with the judgement recently made by the court. I think that what Jubilee are saying is that this isn’t the end of the legal process and they still maintain that they have rights over the tailings. I don’t know if Cheetah now own the spiral separators that we are bought. Charles is right, in that the best way forward is a cooperative agreement though it is not surprising we pulled all our fine chrome kit out just in time.

That is my understanding of the judgment too, Charles. But the tailings dump that we have processed, including the removal of fine chrome, now belongs to Cheetah so, if we want to extract the pgms presumably we will have to buy ‘our’ material from them. Then we have to transport it to Inyoni.
DCM used to be our flagship operation. Funny how things change.

Charles - your point is a good one. However there is always the possibility that we won’t maximise PGM earnings by ‘topping up’ at Eland, preferring to produce a little bit less per year but for a longer period. This will depend on the volume of feed secured but was certainly a part of the thinking two years ago.

Just a few thoughts before the holiday (hopefully in comprehensible english).
1. SA. Inyoni set to generate cash in the forseeable future. How much depends on the PoP and chrome. PoP depends critically on motor industry and hence on omicron. My view is that the pandemic will burn out in the spring and H2 2022 will see rising metal prices. Good to see articles such as the one today about Anglo investing in hydrogen powered trucks.
2. Eastern limb. We know the Inyoni model works and is economic. Reproducing this in the east is a no-brainer IF we can secure a long term supply of feed. I am sure Leon is looking to do that.
3. Copper. Should start making a big contribution to our earnings in 2022. I am pretty sure we will look to capitalise further on our link-up with the Zambian government. For me the most interesting news will be about the success, or otherwise, of our sulphide leaching project.
4. Cobalt. I think some of the figures being bandied about are inflated. We do not know the cost of recovery or the sale price of our intermediate product. I am not banking on a big contribution from cobalt next year.
5. DRC. Highly risky jurisdiction but masses of potentially high grade material pretty close to the elephants. I will be watching the political situation there. At the moment I hope we don't move in.
6. Cyprus. To me, a diversion. It could shop-window our credentials but I cannot see much further than that.
7. Kabwe. WHI says there is a long term plan. I continue to attach great importance to this in view of the staggering shift to ESG investment worldwide.
8. New jurisdiction evaluation unit. The huge opportunities of rolling out the Jubilee Way to new jurisdictions carries with it huge risks. It makes sense to devote time and effort to look at these very closely.
9. Tjate. I am attaching no current value to Tjate.

Very exciting year ahead. Happy holidays to all the excellent posters on this board.

I take your point Dorfan, that the DRC is currently a problem jurisdiction. My neighbour (in the coffee business) knows it extremely well but very reluctantly no longer goes there. Having said that, WHI does mention it on more than one occasion. That information must have come from somewhere...

Adding to NS's excellent list, I noticed a couple of references to a process under investigation to leach out finely ground sulphides. "However, Jubilee also has a small
pilot plant to learn how to leach the sulphide concentrates. If this pilot plant is
successful, it could revolutionise Jubilee’s plans in Zambia. "
This would indeed be revolutionary if it works. Could this be the process LC referred to with a nod and a wink about six months ago? I had alsways assumed it was something to do with cobalt, but now I'm not so sure.

Of course BB2. My mistake!

Hi BB. I hope to get there, but just in case I don't I would like to know what the plans are for Kabwe (no surprises there). Would be nice to know about the Dilokong material too, but I bet you draw a blank on that one.