Member Info for Jonah58

This looks good on so many levels. Increased longevity at Hernic, with massively increased earnings. Chrome option. Paid out of cash reserves (a first for Jubilee I reckon) and a new source of material near Windsor.

There is also the issue of increased autonomy and throughput at Hernic. It makes me wonder at what price it would be economic to transport our concentrate from DCM? We are already trucking material from Windsor to Eland. Admittedly a very much shorter distance, but some of the costs will be similar and the DCM stuff will contain a higher concentration of PGMs. I suppose much depends on a guaranteed source of third part material at Dilokong, but it may now become an option.

Very happy with how things are going now.

Can't see anything on Investegate or SENS

Good find, and somewhat frustrating that I can't read it! I suppose anything of any significance would have been released as an RNS.

Just spotted that Galileo have issued an eigth of a billion new shares at an 8% discount plus a slightly larger number of warrants. At least CB subscribed for some of them! Money to be spent on 'working capital' and application for mining license.

Off to Waitrose now to invest my daily allocation of working capital in the ethanolic beverage industry.

copper at Kabwe of course. Forgot to take my tablet this morning.

Agree with both of you. The formal quarterly updates will now be reduced to bi-annual, but there will be project updates when and if there is significant information to impart. I would have thought we will hear something before Christmas about copper at Hernic and the first quarter of PGMs at Eland.

Yes, I go along with MH's comments. It would be nice to know the grade og Palladium at Tjate. The original report (https://jubileemetalsgroup.com/investors/rns/tjate-resource-statement/) just mentions 3PGE. But in raelity, any short term increase in demand for platinum would easily be met by majors opening up mothballed resources.
There is one option which might yet bear fruit, which the sale of our Quatzhill farm to a neighbour (is it Anglo). A sustained rise in the basket price might bring that deal back on the table, though I don't think Quartzhill has been drilled.

Tiger, I agree with your sentiment and have been thinking of having a dabble here for some time. I think the market won't like the phrase 'subject to the availability of further funding' (Moneyhawk on JLP board wonders whether some proconcentration will become necessary to maintain the minimum grades). Also Sable will be producing a zinc concentrate, not pure metal, so some of the figures being talked about need to reflect this. We don't know the details of this sliding scale but they state that it is in line with what usually happens in the industry, so perhaps someone with more time than me could dig that one out from somewhere! I've got a few quid to invest, but will hang on for now pending a bit more clarity.

Thanks Welloil. That was quick! Interested that Jubilee are going to co-operate with GLR to find a 'solution' to the extraction of Vanadium from Ka****u material. Hope this doesn't come free of charge!

Agree with TotalT. The sulphur revenue will only be for a short time (see Timeline slide on the presentation). I think we are obliged to sell it to Glencore (RNS). The sulphur is derived from processing copper. I seem to recall (but can't remember from where) that our proposed circuit will process either copper or zinc, but not both simultaneously. So it will be switched from one to the other depending on availability of feed and prevailing market commodity prices. Also, I am assuming sulphuric acid produced later on will be used in-house for zinc production.
Does this tally with other posters' perceptions?

Sadly didn't stay above $900 for 3 months. Too much too soon..

Yes. PoP up and down, but trading in a channel between $920 and 960, and has been there for a while now. Palladium and Rhodium at all time highs. No one seems too excited, but it will be reflected in our bottom line.

Thanks for bringing this to our attention, Whyatt. I hope you don't mind my cutting and pasting an extract from the article:

London-based law firm Leigh Day, which contests human rights cases, has teamed up with Johannesburg-based law firm Mbuyisa Moleele to prepare a class-action case on behalf of communities around Kabwe and will file it in the Johannesburg high court after a two-year investigation into lead poisoning in communities around the defunct mine.

I suspect other large scale miners will be following proceedings with interest. Opportunity knocks.

By the way, I accept Hernic will start to run down in 2023, but there should be a reasonable supply of new material at Windsor. I've no idea what the future holds for Dilakong. There seems to be no rush to extend the fine chrome technology to Windsor.

I like this RNS. With regard to copper, it looks as though we are largely (or completely) toll processing. I am unsure who owns the 'historical tailings'. The economics of processing these must be a bit marginal, but I recall we have an obligation to provide sulphuric acid to Glencore until such time as it is needed for our own processing (RNS 21 March 2019). The economics of sulphur dioxide capture and production of acid depends on the particular process used in the copper smelting, but I can't find out how Sable was set up.

There does appear to be a slight time slippage on Zinc concentrate production, but Q2 2020 is not far away now.

What I really liked, however, was the tone. It is more open and helpful than the cryptic offerings JLP investors are accustomed to. There seems to be a major drive to develop our operations in Zambia, maybe even align ourselves there. There is a notable emphasis on the environmental impact of our operations. I can't wait for news that we have started to process the Kabwe dump itself. Even if I come out of this with no profit at all, the thought that our company is doing something about the obscenity of that pile, and the devastation the second Broken Hill is still inflicting on the local population, will give me genuine satisfaction with my investment.

I should say that my Zambian friends (both of them) are equally excited.

Bought into Polo because I'd got fed up with being ripped off by dodgy dealings on AIM. I wanted to let someone who knows what he is doing avoid these pitfalls for me. Some chance!

Mind you, Bradford has a strong pedigree.

Mr. Mills has over 30 years of experience in the resource industry. He is the founder and managing director of Plinian Capital, a private equity firm whose principal business is investment in natural resources projects and companies. Mr. Mills formerly held the position of Chief Executive Officer of Lonmin Plc, the world’s number three platinum and platinum group metals producer. Prior to that, Mr. Mills served as President of BHP Billiton’s copper group. Mr. Mills currently holds directorships with Rambler Metals and Mining, a copper-gold producer, as well as Helio Resource Corp. and West African Minerals, exploration companies focused on gold and iron ore projects in Africa. Mr. Mills is a member of the advisory board to the Stanford University School of Earth, Energy and Environmental Sciences.

I can't see a strike affecting production at Hernic with its small workforce, unless it affects chrome mining too. Also, the Eland plant was refurbished specifically for Windsor material, so is not integral to Northam's operation. I would expect low cost producers like us to be cushioned from the effects of a strike. The response of the PoP will obviously depend on stock piles and demand. It is currently subdued following the advances recently, but does seem to be trading in a new, higher channel.

Thanks for posting this. As in many such comparisons, he has focussed on one aspect; namely fuel efficiency. For instance, there is no mention of the cost of producing batteries, their life span, replacement cost, and cost of disposal. Nor any attempt to compare these with the equivalent measures for a fuel cell. The debate reges on, and time will tell.

Looks like we will be getting more news from Kabwe soon.

I've lost money here, but that's the way with AIM. Should have listened to Carvegyber, who backed his negative opinion with reasoned facts, and listened what others had to say, on top of which he can carve gybe (presumably) which is remarkably difficult. Board members should try it sometime, but only if you enjoy drinking sea water.

I'm holding my meagre shares because they are worth so little there seems scant point in selling them. I suspect I am not alone in doing this. So can we have a sensible, if speculative, discussion (free from personal invective) about what RRL could possibly do next, such as

1. Do very little and just keep paying the directors as some have suggested.
2. Beef up the drilling business. We do have access to nice new rigs and need not confine operations to Trinidad.
3. What do we do with Indonesia?
d. Look for some new opportunities as per KG. Would it not be unreasonable to suggest these opportunities might link in with Sramek Biotech? A recently incorporated company in Hong Kong specialising in biomedical devices. Dr Sramek has been around a while and is pretty smart. He pioneered impedence methodology for cardiac output and ejection fraction (something I actually know something about as I worked in Cardiac services)

Interested to hear people's reasoned opinions.

Thanks for posting this. Obviously all predictions need to be taken with a pinch of salt, but the sheer scale of the analyst's numbers is staggering. And yes, I see an increasingly rosy future for fuel cells.