Member Info for Jonah58

I entirely agree with your point that copper is going to be the major earner in Zambia, but the success of this and future operations is critically dependent on maintaining good relations with the government. The zinc circuit is a necessary prelude to processing the lead at Kabwe and hence making a unique contribution to the cleanup of pollution there which is a stated priority of the government. We should not underestimate its Importance for our whole future in Zambia.

I entirely agree with your point that copper is going to be the major earner in Zambia, but the success of this and future operations is critically dependent on maintaining good relations with the government. The zinc circuit is a necessary prelude to processing the lead at Kabwe and hence making a unique contribution to the cleanup of pollution there which is a stated priority of the government. We should not underestimate its Importance for our whole future in Zambia.

Last I heard Ella was that the zinc circuit was delayed due to Covid-induced border restrictions. I did wonder, however, whethter that was a bit of an excuse to fend off criticism whilst we got on with copper stuff. In any event, Leon is on record as saying there will be progress on zinc in Q3 2021.

Hi KB. I think the subject of setting up our own smelting facility using te Conroast recipe was raised about 5 years ago. I can't find the RNS, but I'm pretty sure Leon said that would not be economical unless we were producing a huge amount more concentrate (which, of course, we now are!) I do think it is unlikely we would have sold Middelburg if the eventual plans were to return to smelting, but stranger things have happened.

Shipping sulphuric acid by road from SA to Zambia sounds expensive, but I know nothing of what would be involved. Sable does produce some sulphuric acid of its own from copper sulphate processing, but I'll leave it to someone better informed than I am to say whether that will be enough.

Don't know 'Allo', but it dropped quickly. I had a stop loss with HL which didn't even trigger (annoying) so thay haven't got those yet either!

Remember SLP are a far more mature operation. Last year they were miles ahead, almost out of sight. Now we are playing catch up very effectively, but we're not quite there yet. All looking good.

Need to consider the number of shares in issue, Happy. Our MCaps are comparable.

thanks for this Tricky. Only on a BB like this do you get such useful and fascinating personal insight

This has been an amazing week for Jubilee. I cannot remember anything so satisfying in many years of investing. And it was all the more so because the activity was not based on hype or flash-in-the-pan p&d nonsense, but on sound analysis and well thought out investment decisions. Huge volume backs up the current price and the finish today, with such a tight spread, only shows that we are here to stay. Of course there will be fluctuations, profit taking, warrant exercising and CLN conversions so there will be ups and downs in the weeks to come, but a trend has been established which, after more than ten years in this share, I find frankly breathtaking.

Mikie, you are the master of the extended metaphor. Having just completed a writing course, I cannot wait to write the first chapter of that dubious novel "Look back in envy"!. Who's bidding for the film rights?

Hesgoinin. Yes. It's all about cash. The market is just waking up to how much we have rolling in. It is much higher than predicted less than a year ago. This is a share for both value and growth investors. That is what the institutional investors have spotted.

I hope everyone here has a great weekend. The world is opening up again. Whilst it will be a long time before we have another week like this, and there will be retraces, I could not be happier with how our company is performing.

Yes Mr BSS, I remeber the RAF guy. Used to post a lot. Can't say I always agreed with him, but he was always polite and backed up his points with facts and reasoned arguments. A valued contributer to this largely friendly and helpful board!

PS. I, for one, applaud him for wanting to help his daughter - wouldn't we all?

Uncrossing trade @ 15.05p at end of closing auction. Expect this to open up tomorrow.

Good posts Shiv. I note that the forward PE ratio of Anglo American is only 7.75 despite the current fashion for mining stock. My point is that miners are always undervalued because of perceived risks. We need to stress that JLP is NOT a miner. Get this across and our brilliant progress recently will get even better.

I'm wildly guessing here, Shiv, but I suspect the tonnage from Roan may not go up that much between stages. My suspicion is that we have developed a process based on our fine chrome experience to extract 'fine copper' fro tailings, but that this will be part of stage 2 or 3. Stage one will increase production at Sable to a modest 400 tonnes per month, but when completed (within a year) that figure goes up to 10,000 tonnes! One thing we don't know about is how long the Roan deal will last, or am I wrong there. Any info anybody?

Good post Turnpan. I think' Roan' refers to the lower roan formation of copper bearing ore, rather than a specific location. Roan Antelope is now owned by Star Tanganika, our joint venture partner for Elephant 1, so that one is at Luanshya.

NS. I think it will be difficult to provide an exact Cu:Co ratio for Roan as the project is a mixture of tailings and ROM ore, as far as I can tell. I don't imagine the ratio will be the same for both and what we get will depend on the mix.

Chaise - yes, of course other operators will enter the space. They are already here. There is no way we could cope with all the tailings around sub Saharan Africa, let alone elsewhere, but we do have the advantage of being very good at what we do, with shed loads of experience and IP, so I have no doubt that we will be very competitive for the most lucrative projects.

Mikie - it would be nice to think that throwing spare cash at the Elephants would hurry them along, but the poor pachyderms are going pretty quickly already. Under a year from planning to commissioning, whereas it's more like ten years for a mine. I'm very happy with the rate of progress and would prefer the officers who we employ to run our company to dispose of any excess cash in the form of a dividend to its faithful shareholders (witness this board).

I agree with Moneyman. If there were any nasty surprises round the corner I suspect Slater and Jupiter would have sniffed them out. There were 16 million shares sold on the market just 3 days ago and the Sp has held pretty well. It’s great just to be consolidating here, I reckon.

As predicted, a late 1.5 million buy from yesterday. A few more warrants cleared today. Plenty of interest and activity.

3 Card, I endorse your sentiments about having all your eggs in one basket but I am not at all sure that Africa is worse than anywhere else when it comes to corrupt practices. Maybe it would be better to invest in somewhere safer - like Australia for instance where upright pillars of company decorum like Peter Landau strive daily, selflessly to uphold the rights of honest investors. Frankly I would feel safer in Lusaka than Perth!
But yes, things can and do go badly wrong and I for one accept that when investing in AIM I should be prepared to lose the lot.

I agree, Shiv, there is still a heavy seller around. I try not to get hung up about the daily share action, however. I don't understand the inticacies of the market, but I do know that the MMs make their money on the spread, not by accumulating or speculating in the shares. In other words, there are buyers for all the shares sold. We may see a late trade.

With all the selling, this share has done brilliantly to hold on to its spectacular gains over the last few months. As many posters have said, the figures will speak for themselves in due course.

It was worth transporting to Inyoni at $900 per oz, so will certainly be worth shifting it now. Just need to sort out the legal wranglimgs, as you say LUFC.