Member Info for Jonah58

Yes, but does that mean the joint venture at Ndola is no longer joint? In other words, there will be no need for Sable to buy the concentrate from the now non-existant venture.

Jolly: yes, just under 1 tonne of cobalt for 8 tonnes of copper. What we don’t know is the additional cost of refining the cobalt after we’ve spent $4500 per tonne getting the copper out. I guess it won’t be so much and cobalt will be a huge earner but admit I haven’t got a handle yet on how much.

Fair point, arry! He's certainly a bit of a cove - rogue, even. Still, my glass is half full (and I never believe anyone who says there will be no plecement on AIM, so it has not come as a surprise ). Should turn out to be money well spent, like the placement (which we would never have) to buy Platchro (Windsor).

Anyone notice that the production volume attributable to Roan in the interview was upped from a previous value of 10,000 to 10,500 tonnes per annum. Guts recovering. The uplift from 80 to 100% interest in Roan alone increases our profit by $10,500,000 per annum or, to put it another way, more than one third of the placing value in the first year.

sorry, I meant cobalt, of coure

Leon particularly bullish on chrome (remove the two asterisks.
https://www.directo**rstalkinterviews.com/jubilee-metals-group-successfully-raises-gross-proceeds-of-30-million-interview/4121022643

arry, when Colin says 'why would we do aplacement,' you could reply 'so that we can expedite Roan and get 100% of the profits, and so that we can increase our interest to 80% + from 50% in TD52 where, incidentally, there seems an awful lot of cobalt and our engineers have just sorted a great way to get it out, to expedite our other copper projects to capitalise on the good prices currently available, to increase Sable capacity and make more pure copper rather than less profitable concentrate, to get 6.8 M tonnes more tailings..', at which point Colin raises his hands in resignation - 'Good point', he says.

Re: Cobalt. Do any of the boys on the ground have an inkling of what percentage of the 115M tonnes of tailings at Elephant are represented by tailings dump 52?

This is along the lines of what we did at Inyoni. Foot in the door, then increase our beneficial interest and longevity of project. Looks like good value in the long run.
I wonder if the developments in cobalt recovery are what Leon was alluding to when he had that glint in his eye.

Thanks Billy. Nothing particularly new in it, but there does seem to be a general optimism that things will go forward!

Interesting comment, Shorn. Do have any views on aluminium/graphene alloys? looked interesting to me so I lobbed a few bob into TGR six months ago

Dog, you are right. The grades in some of the dumps are higher than run of mine ore from some mines!. The Romans obviously had not perfected their flotation and gravity separation techniques. Of course most of the waste comes from more recent mining. It will be interesting to get more information on grades and the volume of material, but, like others here, I see this as being a bit of a side show.

No expertise, Craig. It's just that BMR (initially) and JLP have both stated that they will build and operate a circuit to process the Kabwe waste. The last time frame stated in RNS was to get going in H2 2021. These public statements were made knowing that the class action had been filed (some time ago). They have the small mining rights. I have not delved to see if any court injunction has been filed to stop JLP processing the material and am not sure where to look for such a document.

I fully accept HG's point that there will be political and possibly legal discussions going on in the background and Jubilee might wish to delay processing Kabwe pending further clarity. If so, and having stated in an RNS that progress with the zinc circuit will be made this year, we would need another RNS to explain the delay (if indeed it occurs. We have four months left).

Thanks for making these points, HG, which I appreciate. I agree with much of what you say. Maybe the increasing pressure will spur on the Zambian government to expedite action. It seems to me that Anglo have denied all resposibility have unloaded the 'assets' donkey's years ago and I suspect the only winner from the class action will be the lawyers.

Where I disagree is in your assertion that Kabwe itself has minimal economic value. Maybe the mineral content itself is small fry compared to the copper story, but mining companies worldwide are looking at their dumps and dams anew and seeing them as huge liabilities. Joint ventures with a company with a good track record and high ESG credentials makes sense. The ecenomic repercussions of Jubilee positioning itself in the very centre of this space are huge.

Thanks for that comment, HG, but I don't see why Jubilee canot get started before the historic claim has been resolved ( an outcome that is unlikely to occur in my lifetime IMHO)!

Thanks Reverter. I stand corrected! But I still think the figure is conservative.

I've looked at the website, Dorf,and agree that under review signifies very little as it stands. Hopefully, it means under discusion with the relevant government agencies and an agreed strategy will eventually be forthcomig.

Happy43, I am with you that we could do with some more information but I think you are being a bit optimistic! Taking your points in turn:
1. Interview. I agree. Maybe LC is just too busy, but I tend to agree with others that there is more to come from Zambia in general and Mopani in particular. If this is the reason for the silence, then we should be hearing something quite soon.
2. Cyprus. I don't know what stage the dump investigations are at. Site visit from JLP this month. I was not expecting news till October at the earliest.
3. I doubt we will get monthly copper updates, but when things were moving fast we got quarterly platinum updates. Things are about to move fast with copper, and there is not such a long time between production and getting paid, so we might get a quarterly update on copper. Here's hoping.
4. Eastern limb. We won't get news until there is something new to report. I guess LC is trying to negotiate further chrome beneficiation contracts to ensure a long term feed of tailings. Only then than can the Inyoni model cut in. I can't help feeling it's just a matter of time.
5. Kabwe. 100% with you on this one. If we hear nothing mosre about this by the end of the calendar year I will sell my entire holding here. A futile protest, I admit, but a protest all the same. We were told the hold up was due to problems with border controls over long lead items (Covid induced). I think these have been resolved so there is absolutely no excuse not to let us know the plan. There will be spare capacity at Sable, as another poster has pointed out.
6 Copper breakthrough. I think we can be confident that any IP involved in this will not be shared with anybody!
7. I think there have been some excellent posts here about PGM production and that the next RNS will be the half yearly figures. We might hear something about commissioning of new plant though.

So so much going on...

There are pros and cons of listing on the 250 but CB has stated on many an occasion that is his goal.

Very interesting discussion here, and thanks for the knowledgeable contributions. That 95 m tonnes might be conservative. Depending on its density, rock weighs something between 2.5 to 3 tonnes per cubic metre. So 50 million cu m tailings = 125 to 150 million tonnes. It all depends on the grades, I suppose, and how much cobalt there is too.

Not sure how big, Mikie, but it is a big mine and has been in production for ages so I suspect the tailings resource is very/extremely big. Interestingly, and sadly, I note there was a terrible disaster with the tailings dam in September 1970. This reference makes chilling reading: https://tailings.info/casestudies/mufulira.htm#:~:text=Mufulira%20Mine%20Disaster%20of%201970%2C%20Zambia%20Figure%201%3A,dam%20occurred%20at%20the%20Mufulira%20Mine%20in%20Zambia.

It also seems that there is severe sulphur diaoxide air pollution in Mufulira. If anyone on the ground in Zambia can flesh out the details of this operation, I, for one, would be most interested.