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Total Trader,
I couldn't agree more with the AIM sentiment of Jam tomorrow, etc. Personally I do believe that there may be something there that CB knows is there, but he is taking an awful challenge with shareholders money to do this, especially as they only get 33% of the actual profit from the deal.
The deal does state that there is infrastructure at the mine and that they will use this first and in tbe paragraph above that it does state that the ore was trucked to refineries, so it might be that CB will utilise JLP's expertise to design a circuit for the tailings, because that will come out of the costs before the actual profit share.
Personally I also do think that CB will contract us to design a circuit for their infrastructure and will then truck it to Sable Zinc for processing/refining, it makes the most sense to me, as who else does he have in an industry that processes tailings and have a refinery almost built for purpose as US, especially with the tailings only having 25,000 tons and CB looking at producing about 6,000 tons a year when the country produces something like 700,000 tons a year, it is small change for the big boys, but useful change for us, especially as we already have the circuit in place at the refinery.
I am only speculating about the Xtract RNS, but it makes sense logically, but maybe not economically obviously.
https://miningforzambia . com/a-concentrated-mining-sector/
This link does state that Sable Zinc Kabwe processed copper for Glencore and they would have to have ttansported that from the Copperbelt region as an absolute minimum and that is still hours away from Sable Zinc.
I guess it depends on the copper price and the latest copper price I found was from April 30th this year and that was £2.90 per pound. Considering that Xtract reckon there are up to 25,000 tons there, it could be worth well over a 100 million pounds in terms, but it depends on how long it takes to produce that amount, whether the transport of the material is viable or not and a 100 other questions.
Personally I don't feel that Xtract would have the means to get finance for the processing of the waste, so they would need a refinery that can process Copper and we have one of those and as stated, we ARE keeping the Copper circuit and with no copper nearby, where would we be getting the Copper from?
Yes, I know that it is not exactly tied up with a bow, but if we were toll processing Xtract's Copper, it would explain why we would keep the Copper Circuit and it could pay off a few bills before we start generating from the waste at Kabwe.
Slightly off topic, but has anyone seen that Xtract Resources have just signed as a contractor for the processing of copper waste tailings? The reason I mention it, is that Jubilee are keeping the Copper Circuit according to the last video, if memory serves me right, and adding in the other circuits. Also guess who is the Executive Chairman of Xtract Resources!
Yep, you guesses it, none other than our own Colin Bird and it is only 9-11 hours to truck the ore from where it currently is to Sable Zinc. Not exactly conclusive, but what are the odds of Jubilee buying the right to process off Xtract or we toll process it for them!
I wonder which it will be and I shall wait with baited breath for the RNS to say it is one or the other.
So on the Twitter account for WRES, there has been a request for questions from Andrew Scott for a Q&A with MM.
I have posted a few questions
up there, that I believe require answering, but does ANYONE else have an questions that can be put forward by Andrew to MM for this Q&A session?
https://www. directors talk .net/interview-w-resources-on-track-for-low-cost-significant-earnings/
Yes, I am the lowest shareholder here. I only have a measly 1,268,951 shares. Ha ha ha ha ha ha ha ha
Slightly off topic, I grant, but in reality not really.
So Thor mining have a new presentation out and pages 6 - 14 are particularly interesting for me, as they are attempting to build a project, which has a slightly cheaper opex than us, but produces far less tungsten also they are looking at 51 million dollars of project and equipment fiance. Have a current mine life of 7 years and only looking at producing under half ourT2 production amount, but have in essence double our Tin credits and yet aomehow think that they will pay everything off in 18 months
So my questions are as follows: What price are they expecting Tungsten to rally to and if they can pay off a potentially larger amount of debt, with half our production, admittedly in essence double our Tin credit, with a similar Opex prices and a much higher capex than either T2 or T3.5 how are they thinking that they will reach payback of all finance in 18 months, when the presentation with their latest information on states that life of mibe is 7 years and the life of mine EBITDA is 239 million Australian dollars or on current rates $165,468,032.67.
Anyone got any thoughts on this or how we compare with them and how to pay off our project finance?
As i said, off topic, but only slightly.
I got that it was probably a mix-up, but if that was legitimately the case, why doesn't MM correct her!?
Has anyone seen the latest Proactive Invester video discussing the blast, etc?
Apart from the blast, it isn't new news, apart from one thing, but I am not sure if she meant it, although MM didn't correct her on it, so I am not sure what to make of it.
The lady at about the 4:05 onwards says the following.
Let's talk about your projects which are in Europe, which is nice, but let's talk about them. You have projects in Spain, Portugal and Italy!
It’s the AND ITALY part that caught my attention, do they know something that we don't?
Anyone seen this?
https://news.sky.com/story/yorkshire-potash-miner-gets-sirius-with-2-7bn-fundraising-11707272
It has popped up on to my newsfeed overnight.
TotalTrader,
By processing the mined spoil for Galileo, they pay us to process it, which serves to reduce our overall costs for our refined metals and means that the refinery is kept working and ticking over rather than it being sat unused.
Personally as I have pointed out, let Galileo do all the leg work firming up, their Zambian assets and then just snap them up. Remember they get the now 11%(because we are spending over 15 million dollars) royalty payment and because we have about 29% of their company, we will get a chunk of that in increased share price eventually.
Also the 11% royalty payment is only due to be payable by the Project once Jubilee has secured a minimum of a 20% return on the investment made into the Project and only once EPL or Kabwe Operations have received all generated earnings in cash.
That being said we do have to give them 5% royalty from an agreed initial 5% Royalty on distributable earnings, BMR will only be entitled to a Royalty payment once
The Project is fully operational and has generated distributable earnings and Jubilee (or its nominee) has been repaid in full its capital investment and its agreed capital rate of return of 30% on the first GBP 2,3 million invested and 20% on any further capital invested.
So breaking that down on the 18,320,000 dollars required for the project is as follows:
30% of 2.3 million is 690,000 dollars and
20% of the 18.32 million dollars minus the 2.3 million gives us 3.204 million dollars so combined together that means that Galileo won't receive any revenue until we have taken 22.214 million dollars, which is a pretty good place to be.
Hence why I say let's not buy them out yet, let's make them do the legwork on their other assets and let's go from there. We have plenty of time to assess them down the line.
Kalan,
You point out that the market cap of Galileo is 2 million pounds, but there is one fact that you haven't considered and that fact is that we already own 29% of Galileo anyway, so it is a very good starting point to buy them out.
However, Galileo have other assets that are completely meaningless and useless to Jubilee (in its current form), as a processor of mined/waste material, so I can't see us, just buying them out.
Kabwe is big enough for us to carry on with at the moment and Galileo will need to put contracts in place for us to toll process their mined spoil from their other mines located adjacent to the refinery, so let them issue shares and/or get rid of the unnecessary assets to firm up the assets that they have there and at that point we can just knock them off cheaply and away we go.
I say this, as they will need more funds in the future to get all the stuff they require for their other Zambian mines and yes some of that may come from sales or farm ins of their other assets, but there is absolutely no guarantee that will happen. Therefore I fully expect them to issue shares and/or farm us in to these mines to allow them to get the required funds.
Just my thoughts, but if they have done it once, they might again.
To say, thanks Leo and Kaiser, you bl00dy id10t!!!!!
Firstly I am sorry if that p1sses people off, but I put 400 quid in here a couple of months ago, got 15,151 shares for that amount.
I sold on the last spike to 3.9ish at about 3.8ish and took my initial 400 quid back out and put a limit buy on at 3.25p, it didn't go anywhere near there, so i changed it on yesterday afternoon to a more hopeful 3.5p and lo and behold it drops.
So the annoying thing for me, is that I bought in too high, as that 3.25p original effort would have got me a chunk more shares, but I am happy, as I now have 16,344 for a total buy in of 410 quid and more than happy to do it all over again, keeping the free shares running and trading the original amount.
I tried to stay the course, but having not taken profits previously, I am mixing it up a bit and trading the original amount and running any and all free shares.
I get that people are upset at the RNS, but what in reality are they upset about? They gambled, it would keep going up and lost out. Personally, having been bitten once or twice, I am now going to stick to my current effort and hope it pays off massively and I can trade and gain a few additional shares, but that is the gamble/chance we ALL take.
I have sold 2/3rds of my holding, meaning i have my original money back and I have a load of free shares to run here. Not a massive amount, but I have before held way longer than I should have had and ended up back at square one with less money and the same amount of shares. So i have top sliced and hope it falls back a bit and i will use my original money to get some more shares, but if it doesn't fall back, i am running free shares and that is more than fine by me.
Sometimes we have to change our strategy, as i would have much preferred a slow and steady growth in share price over a much longer time, but it is what it is.
Right, now that I have got over the severe lack of sleep used an Uber, been to the Welcome to Las Vegas sign, had food, been to The Mirage's Volcano and The Bellagio's fountains, I might actually be able to catch up with all that I have missed from the Proactive Investor meeting. So if anyone wants to take the time to spell out the facts and questions asked that would be greatly appreciated. Also if anyone has been to this mental place before, tips and suggestions for stuff to do would again be gratefully accepted.
Eggchaser,
Are you from the Buxton/Leek area? If so how are you doing? I am originally from Buxton, but work away.
Franny,
Sadly I tried to ask a question to MM about stuff and due to the love-in, time ran out before I could ask him in the meeting, I did ask him post the meeting about it and I gave the answer that he gave me on here.
I did feel at the time, that those lavishing praise was abit OTT, but it was my first investor meeting so I didn't really say anything about it until I was chatting to a gentleman at the end and we both had the same concerns about things, such as the debt, the gold effort, drakelands and sentiment towards that.
In my defence, I would love to be there, but unfortunately in my job, I can't afford to miss the plane at all, so I will have to let others take the lead, but I am hoping that someone will me of those investors that gave MM the love-in, will ask some serious and cutting questions this time around with all the allotted time rather than wasting it on praise, because if we use the time correctly we may get some answers to the questions that people are upset about on here and give us ALL the information not just chunks of it.
Also if it is so cost effective, can we have more of the power generators and use space in the locality to produce excess power to the grid as an additional revenue stream?