Member Info for Jonah58

Decimal. Although what you have picked up is largely correct, I think your analysis is over simplified., to the point of having little relevance to the current situation. All JLP can do is try to deliver on its stated objectives. If they do, then this will be a multibagger.

Yes, we are at the mercy of commodity prices. We all research these and post our findings here. You will have to form your own opinion about this which certainly constitutes a risk as well as an opportunity.

Edzi - can I draw your attention to the following extract from the Septemeber RNS update. I think it answers your question:

Roan has begun processing low grade stockpiled material from historical mining operations through its newly commissioned front-end module. The module is designed to upgrade the waste rock material more than tenfold, producing a high-grade copper concentrate in excess of 10% copper contained for further refining or market trading. Additionally, the plant generates a lower-grade copper stream that requires further processing. The Jubilee technical team is currently evaluating various metal extraction techniques to refine this waste stream, with a preference for on-site flotation and leaching. The review includes exploring the use of glycine-based heap leaching in partnership with Draslovka, a mining processing specialist. A semi-commercial trial for flotation and on-site leaching of the low-grade copper stream is scheduled for February 2025.

I agree Seis - no mention of hub concentrators in the last RNS. I guess decisions on that will depend on the sort of material in the next two open mine projects currently being evaluated. I think the leach process at Munkoyo is highly likely to be glycine.

I view the proposed leaching facility at Roan in a slightly different light. By that I mean it could be viewed, not as the final stage of a concentrating process, but the first stage of a refining process. It suggests to me that we are seriously considering adding a refinery to Roan, but where does that leave Chambishi?

ZEUS continues to see fair value (now) at 11p per share.

PS Sorry about the double post. This site is very glitchy, and makes my phone overheat as if it is overloading the processor - anyone else noticed this? For me, it is reproducible.

Hi Mickie, Northern. Like you, I need to read this carefully, but it does explain something I had previously not understood. In round figures, the stated capacity of Roan has been 13,000 tonnes and Sable (after upgrade) 16,000 tonnes. But Leon's initial target has always been 25,000 tonnes. The maths didn't add up. Now it does. If the leach pad at Roan (FY 2026) is funded out of revenue I don't feel too worried about this news.

Hi Mickie, Northern. I too need to read all of this carefully, but it explains something I had failed to understand before. In round figures we have been told Roan's capacity will be 13,000 tonnes and Sable (after upgrade) 16, 000 tonnes, but Leon's initial target has always been 25,000 tonnes - the maths didn't add up. Now it does.

This looks like an orderly transfer of shares to me, Gen, most probably occurring off-market and subsequently being reported. The odd thing is that this huge volume has not triggered a TR1 yet. I suppose with 3 billion + shares in issue I would have to buy 100 million to own 3% of the company if I was starting from scratch.

GALP still dragging its feet.

https://www.kitco.com/news/off-the-wire/2024-10-28/galp-no-rush-invest-lithium-refinery-northvolt

No sign of it letting up, Marine. 18 million today changed hands. Can anyone explain why none of this has triggered a TR1?

Thanks Northern. It's my daughter's birthday on the 12th. There's always something. I'll come to the Ritz meeting next year - promise.

As far as I am aware, Ever, we have sufficient feed to fill 60% of Roan's capacity. Next month a load of stuff from the OB1 project will be going through the front end as well. I'm not sure if any other sources of feed are currently available, but stand to be corrected.

The trade at 8.39.09 is a buy

Just to add to Seis's comment, we know that we had secured (long term) feed to fill 60% of Roan's capacity before the front end upgrade. I presume that this is the material referred to as projects Phoenix and L.

"nothing is endless..." The decimal expansion of an irrational number springs to mind, Shuv, but I always was a pedant. But you are right. I have doubled my holding at these numbers so have put my money where my mouth is.

Where's the second copper module, Marine? Are you counting the one at project g?

Correct Charttopper. The pattern of trades today looks like our seller continues to sell into the good news.

10 months, not 20. So, according to the RNS, we should have a combined capacity of 29,000 tonnes of contained copper per annum by July 2025.

Bobb. It’s to do with cathode production so leaching or electro winning. The sulphide upgrade at Sable started in September and integration of both upgrades is scheduled for 20 months. Capacity should be 26,000 tonnes of contained copper per annum. Add to this a capacity of 13000 tonnes from Roan as it currently stands.

Zeus continue to see fair value at 11p per share.

Nice post. Just for any passing visitor here who is unaware of our partner in project M, here is a link to Makor resources and its new CEO.

https://www.vsnewsnetwork.com/newsroom/brooke-bibeault-appointed-ceo-of-makor-resources