Member Info for Kaiser_B

I see Bushytailed is back. Back over to Hum for me then.

That tweet is simply Jubilee boasting about its ESG policy for all to see, nothing more, nothing less. We clearly need to push this side of the business more, as I do feel on occasion that we fall short of boasting about our ESG policies more, when we basically clear up other people's waste and involve and improve local communities in doing this.

Seis,

Regarding the brownfield site vs the greenfield site. That was my take on it too. I can understand wanting to make a bigger greenfield site that will be perfect for us, but we must walk before we can run. There are plenty of mothballed refineries in Zambia and the DRC, surely taking something that is basically useless or a waste and making it much more useful is more in keeping with the Jubilee way too. I get there are those that will say, but we csn bespoke it and make it exactly the way we want. We can do that with a brownfield site for all the running gear and leave/replace or renew the supporting infrastructure such as electrics, etc as that will be much cheaper than making a brand new refinery regardless of how big we make it. Sure the ideal thing to do is get a couple of brownfield sites, concentrate the ROM/Waste/Tails and transport it to a refinery that is the closest with actual capacity and refine it there. If they want to expand I am pretty sure that the Zambian government will allow the expansion of these sites and then we are not further polluting or wasting the resources of a country that for decades has been polluted into one of the worst polluted countries in the entire world.

I am all for new refineries where the availability, the capacity or the transport costs are prohibitive, but we supposedly have a mothballed Mopani refinery that is bigger than Sable available. We have capacity at Sable in the short-term to process some of the Northern concentrate or further ROM from smaller miners. We have also been led to believe that both Sable and the mothballed Mopani refinery have expansion available at both sites and the plan was to concentrate and truck the concentrate to either refinery and possibly expand in situ like Inyoni.

My plan would be this: buy the mothballed Mopani refinery and expand and restore/rebuild that one at the same time to say from 35,000 tons a year to 50-60,000 tons a year. Once that is commissioned and running at nameplate capacity, truck the concentrate meant for Sable to the refurbished and expanded former Mopani refinery and then expand Sable to 30-40,000 tons a year. This way we can use the profit/revenue to plug the gaps in finance and we are then generating copper/cobalt revenue as we expand and refurbish the other refinery and gives us a chance to absorb even more Tails/Waste/ROM from the surface/small miners and make us an even bigger entity.

Granted this way is slower, but given what we have available to us in this ever changing world, I prefer a slower build up and a more stable company moving forward than a quick build and risk everything we have built so far if the metal prices, such as Copper, do crash back to levels from a few years ago.

Seisnav,

Jubilee used to own 29% of the company, but Kendrick Resources diluted Jubilee's holding to about 2.9% of the 'new' company, as we didn't take part in the dilution. So what that means for the royalty part I don't know, as technically it was owed to Berkeley Holdings that held it and that company doesn't exist anymore.

Dorfan,

My point is you have gone from Leon's chief supporter to now enough is enough without answering the question of what has changed for you? The long and short of it is, in my eyes nothing has changed with Jubilee, the only change is the world that Jubilee is operating in and there isn't anything that Jubilee can do about Russia for example. All Jubilee can do is manage Jubilee and it appears to be doing that very well. Yes, comms are still crap and we consistently have delays, but the entire world has those problems and yet we have a brand new Inyoni churning out PGM material on top of ALL the chrome we produce. We are expanding into Zambia and Cyprus and the Zambia project is just enormous. So whilst you worry about the share price or a perceived lack of comms causing a lowering of share price, I see ehat you have called for over the last few years, a buying opportunity AND I will just let the Board get on with the task of making me enough money to pay off my mortgage a bit earlier.

As for filtering me, go for it. You and your 'supporters' are welcome to do it. Because at the end of the day, you still haven't answered the original question that I posed you, which was, what has changed for you?

I know what has changed, you expected a higher price to sell a few or lock stock and barrel and move on, which hasn't happened yet. I know this now, because all that has changed since your change if stance is the share price going lower and you complaining about it.

So go on filter me and do the world a favour and show them your true colours.

Case in point.

Fboy
I agree why was a new chairman given bonus shares to stay silent on the new expansion plans.
The share price is only reacting to non disclosures of activities that the company appears reluctant to announce.
I am really trying to stay patient,as I believe in the company, but it is easy to understand shareholders frustrations.

Next one.

Homey
Great I don't disagree with you about bad communication.
Even as I post this message I see PGM's rising and copper ditto and I honestly believe that resources is the place to be in this market.While I am a bit disgruntled with communications from the company I actually sold some shares I have for dividends and bought some Jubilee today as I believe investors are not seeing the bigger picture.

Next one.

Homey give it a break even if you believe Leon is being dishonest to deduct chrome profits from costs of PGM's . I too believe that Leon is trying to put the best spin on a bad year which was caused by mainly two factors,the drop in prices of PGM's and the alterations to the Inyoni plant.
Surely as an intelligent person you must see that Jubilee has a bright future once copper and cobalt earnings is added to profits,or are you saying copper and cobalt are pipe dreams. I think you are doing present shareholders a disservice if they sell because of your negativity. Tell me ARE YOU SELLING YOUR SHARES.

Next one.

The RNS was predictable as I warned posters not to get excited by the 2022 figures.It obviously takes more time than we hope to build a expanding company.I for one are now used to the RNS'S put out by the company which always seems to promise more than is delivered,but that does not change my opinion that Jubilee is in a massive new industry ,in the right metals and we as shareholders will eventually reap great rewards which will justify our faith in the company.
I remain as optimistic as Micky and will continue to be a LTH.
For those of you that do not have the patience to wait I suggest you sell now and regret later.

Next one.

There will not be an RNS today .It is a public holiday in South Africa.
What worries me about the Y/E figures is that posters are expecting too much. 2022 was a year where the company announced massive expansion which will only happen in the 2023 Y/E.
I am not looking forward to last years figures rather the timing of the new production in copper and cobalt as well as the new efficiency of Inyoni and any new expansion plans.
I am sure that will not disappoint.

Just a few examples there.

Not spoiling for an argument at all. Just stating a fact. You were singing the praises the other week and now you've had enough. What has changed in all honestly. In my eyes, nothing at all. So what has changed for you?

Dorfan,

Not a few weeks ago, you were singing Jubilee's praises. What has changed? Besides the market bottoming out and being honest, we have held up reasonably well compared to some other companies.

Yes, they have been delays, but there was always going to be. Yes, comms isn't great, but it never has been. So what are you expecting in reality? That you could sell a few on the ride up, because I am sure that you called the drop the other month a decent buying opportunity. So in reality, what has changed for you?

Also, we aren't going to be processing the zinc from there anyway. We had first refusal and we refused. Colin then took it to another company, if I remember rightly so.

Gotreal,

44,000ozs of which we NOW keep 100% of the profits v 50,000ozs where we sp-lit the profit with the supplier of the tailings. The numbers you cite tell the wrong story, as do you.

That is fundamentally wrong. We weren't doing a 60/40 split with the supplier of the tailings, we were doing a split with the owner of the processing plant that we were using to process the extra PGM ounces to get the 50,000 ounces that we had as guidance. It worked as it generated us extra revenue to fund the Inyoni/Sable upgrades, but Inyoni was only producing 33,000 ounces, so the extra 17,000 ounces were split 60% to us and 40% to Northern. So in essence we produced 43,200 ounces for our sale and lost 6,800 ounces to northern, so by upgrading Inyoni, we actually keep slightly more ounces for ourselves before needing to go to Northern for processing capacity.

Also, there is no point shouting about production levels of copper, cobalt, pgm and chrome yet anyway, because we have guidance on them, but nothing fully confirmed yet.

So just put the shares in the bottom drawer for the foreseeable and go from there. there is money to be made out in the market, but not in commodities market at the moment, unless you are an established commodity dealer/trader or miner, because of the Ukraine situation and the sanctions, unscrupulous nations are and will continue taking advantage of the situation for their own benefit and that leaves western led companies who don't want to come unstuck to the threat of sanctions that are on Russia and certain Russian plebians and that will leave us and other companies behind the curve
of unscrupulous countries and companies in terms of the price of commodities that they buy and sell at.

Summit,

Why should the BOD give you something back in 12 months? Personally I hope that we don't start paying a dividend for 3-5 years and that we are in the FTSE 250 at that point, rather than an AIM company and paying dividends in 12 months.

And yes, I do think that we could get to the dizzy heights of the FTSE 250 in 3-5 years, you only have to look at Centamin that went from an AIM company to a FTSE 250 staple. Now I am not saying that it will be easy, as it won't, but the world needs sensible mining and more importantly sensible mining practices and funds are going away from companies that have a poor ESG and going to companies that have good ESG practices or the ethical investors will withdraw their money and go to a fund that does do ethical investing.

Also to me it makes more sense to grow organically, pushing our ESG and expansion aspects and going forward from there, as it is that bit of the business that will drive the re-rate and the next leg up here. However, like I said yesterday, Rome wasn't built in a day, all this will take time and finances, but with the long term contracts that we have got in place now on both limbs of the BIC, the financing of the expansion will be much easier to be carried out and from there we will be in a good place to expand our South African assets to compliment the Western Limb activities at Inyoni and on that basis we are in a good place in South Africa alone.

Yes, I do agree that the BOD could do more in terms of informing us shareholders, but in essence nothing has changed at the moment, as the company is basically at steady state and awaiting the next lot of news, such as the Cobalt processing stream at commercial levels, the expansion to the Eastern Limb and where and how financed/time to go from care and maintenance or JV ownership, etc to producing PGM's and will we be putting a Ultra-Fine Chrome processing unit there too? Those are the news that we shareholders need, not the whining of a trader, who is after short-term gains at the expense of the company.

Summit,

How long did the buoyant PGM prices take to get to where they are now? They were as low as 500 quid an ounce for platinum in March 2020 and currently at 734 quid. Palladium again 143 quid in 2008, now it's at 1,570 quid, but down from 2,500 quid in March 2022.

Let's look at what the BOD have done:

We are producing PGM's at Inyoni without the need to lose 50% of the ounces to a ****ty JV and because of the disruption at Inyoni, we can now run tails/waste/ROM or combinations thereof, without ANY hassle. We have even moved the Ultra-fine chrome to Inyoni to produce even more chrome and further minimise PGM costs per ounce. Yes, we have more Platinum than Palladium in the PGM ounces, but so what! It is in effect a 'waste' product and we literally have minimal costs to produce an ounce of PGM and we produce over a million tons of Chrome and all our PGM ounces without even having a mine.

We have expanded to produce Copper and Cobalt in a different jurisdiction and currently producing BOTH metals with full production levels of both before the end of August 2022.

We are trialing out Copper and Gold in Cyprus, with a view to producing Copper and gold from Cyprus at about 10,000 tons of copper a year, for upto 12 years, all on the tails at TWO, yes you read that right, JUST TWO surface dumps and there are literally10-15 dumps, let alone the stuff from the mines.

And yet, you are calling for the board to be sacked. I mean come on, what do you want, impossible and unsustainable growth for a quick buck and to disappear off or slower, but sustainable growth and Jubilee as a major, unless bought out?

Happydays,

Please don't take this the wrong way, but all you have done there is moan. Yes, moan. To quote a saying to you, was Rome built in a day?

Yes, it has taken longer than we were told or we hope or hoped and yes, the BOD are once again breaking a promise in terms of not releasing information, but in reality, there might be a VERY good reason for the delay. Such as speculatively the following:

Working on a big deal to finance the full Zambian dream. Wouldn't this be wonderful?

Working on first mover potential with the Zambian government to push us to greater heights. By the government using us to process all their ROM from various sites/mines.

Working on cleaning up the messes that previous companies and governments have made. You know pushing the ESG element to make us investable for the biggest funds and further making us essential for the Zambian government. Meaning that shares will be bought and held by the biggest sustainability funds out there, meaning a rise and stability eventually.

In all honesty, I am not bothered about the delays, as the only people bothered by short term ups and downs are traders, especially those who moan sbout in whilst in a BEAR market. The entire world market IS down over the last year and especially since and the Ukrainian war. So it I'd not just Jubilee, but that includes pretty much every share in circulation around every stock market and in all truthfulness we have held up particularly well when compared to some other shares/companies. For example, in the last year we hit about 18.2p and then fell to about 13.66p pretty much straight after. We then retraced to circa 18p and a slow decline to these levels. SLP in the last year have gone from about 118p to 77.2ish and yes they are slightly from the low to their current level of 84p, but that still represents a 28.814% loss for the year. Whereas Jubilee was lost 27.747% over the year. Tharisa again up off the year lows has lost 41.813%. In comparison we actually have lost the least if the 3 comparable companies in the junior metals section of PGM's in South Africa. What does that tell you? Our diversification is better and will open up the world for us.

Personally I think that we should all stop moaning about short term ups in a BEAR market and should definitely stop worrying about what the BOD do in the very short term, as we have had a new chairman come in, he'll want to look over everything, if only to understand how we do things and our tech/decision making processes and perhaps that better explains any delays that just saying, we are being held back by the lack of clarity and broken promises when it comes to updates.

Colin Bird on the Sunday roast, it has got me excited for Cyprus, as yes it is much smaller than Zambia, ut and here's the key part, the EU and the UK want resources coming from the EU and the UK first and foremost and Cyprus gives us a base for expansion in to both markets and more importantly it shows that we can process ROM and waste/tails better than anyone else and hopefully that will mean that we'll become the partner of choice to process and refine small/mid-tier miners ROM and waste/tails.

Let me just say this first. Yes, the RNS was good.

Secondly confirmation that the Cobalt circuit up and running is amazing. Additionally, news that Roan is at 65% and will be at design capacity before the end of the month is great. Yes, it is more delayed than I or any of us, hand on our hearts, would have liked, but great news nonetheless and if we can extract more copper by getting it right rather than half a55ing it by rushing it as prices were high, then I am all for that. The old adage more haste, less speed, rings true here and once right, it'll be right.

The best part though was the confirmation of the ultea-fine chrome processor at Inyoni. This for me is absolutely key, as the amount of chrome that we produce at Inyoni, will be decisive. I state this as it will show us, as shareholders, how quickly the company can expand or move forward and potentially gives us options at a time when options are getting sparce in terms of project or debt financing amid raising interest rates.

The chrome side is absolutely key, because as I have stated over the years, that the more chrome we produce from what we are putting in both in terms of ROM and/or tails/waste means that that we have less waste chrome and concentrated PGM material to run through the PGM part of Inyoni and therefore, potentially, we should be able to put more PGM concentrate material through the PGM circuit at Inyoni, which should mean a lower PGM per ounce cost, in terms of the need for far less PGM processing because we are processing less 'waste' material in additionto the PGM concentrate. Hopefully that should mean that because we can put more concentrated PGM material through and hopefully it will give us more PGM ounces being produced at a lower cost, without needing the Windsor JV effort and losing 50% of the PGM material for no good reason.

I am not particularly bothered about the copper right now. Yes, I know there will be a few posters on here shocked by that statement, but it is still early days on the ramp up and copper whilst still is at a higher price than a couple of years ago, at it's current price, which is hovering between $6,500 - $7,000 a ton, is still a big loss from the $8,500-$9,500 a ton price from only a month or so ago, which is why I brought the price drop up about 2 -3 weeks ago. Only to be told that it doesn't matter. Well yes it doesn't matter as much right now, but yes, of course, the copper price will become much more important as we ramp it up at both Sable/Roan and the Northern Zambian assets but in all seriousness, that is a conversation for the next 6 months and looking into the future rather than the last 6 months.

The PGM and Chrome side of the business with the Cobalt and Copper credits are what will expand the company, either through a combination of debt financing and/or using actual revenue generated, to finance getting the Northern Zambian assets underway, but it will happen and having listened to Colin Bird on the Sunday ro

I shall quote you here Dorfan01.

Kaiser
No one is talking about the copper price or PGM'S for that matter is because the drop while upsetting is understandable with all the talk of recession.I only consider LONG TERM prospects which remain on course.I have little doubt that prices of PGM'S and copper will recover over the coming months as the world finds out it needs the metals. You are only expressing a share traders fear which does not effect LTH.

We both know what you meant here with that last sentence, you are saying in a roundabout way that I am trying to talk down the share for my own purposes, by stating facts as they were at the time. I wasn't by the way, but that is by the by. If anything would I like to really take advantage of these prices, yes of course I would, but I can't at the moment. Would I love to trade the shares I have to get more? Of course I would, but I am not that confident, as these shares are for mine and my families future and trading them to get a few extra is nothing compared to what is coming in the future and the fact that you openly admit to trading them at other people's expense is a nasty way of saying that their loss is my gain. People can and do sell at a loss for MANY reasons and not all of them are traders.

Also, by expressing an opinion that differs to yours also does mean that I am expressing a share traders fear, it means that I am instigating a chat about what headwinds we face here and how we go about expanding in this present climate. Whether you like that chat or not doesn't matter, not everything is completely positive here and whilst there are more positives at the moment than negatives, the negatives do weigh heavily on shareholders, such as breaking the no more dilution message. I for one am not too bothered by it, as it was an old and therefore known about dilution, BUT and here's the thing, that wasn't communicated well from the board and therefore the board isn't as trusted as it should be, but again that can and hopefully will change moving forward.

One last note you should be aware of is thus, as far as I am aware, expressing a differing view on a bulletin board, which encourages free speech with rules of caring for your fellow chatees and not offering information of a financial basis, is to be applauded, as whether you do like it or not, differing opinions and reasoned debate are wonders of a free and fair society.

So who saw this one?

Now, who am I to speculate, especially after being labelled a trader yesterday, but has anyone else seen this?

The results look like being potentially over a 16km strike and grades are over 0.6% and up to 2.4% in terms of copper, but this is the bit that took my fancy.

The proposed mining licence they are on about there is basically smack bang in the middle between the refinery at Kabwe and project Lechwe. So could this one be the 4th concentrator? Who knows, but being smack bang in the middle, means that the concentrate can go to either location and being honest, with us operating 2 refineries in the area, who else would they consider going to, especially if we are able to efficiently extract the copper to a much higher degree than others.

Now I might be wrong, but it looks like the Zambian JV partner is pressing ahead with a mining licence which means that the JV will be mining in the next couple of years and who better than us to process a mining junior's ROM?

I am not reading into anything, I am making what is basically an educated prediction on events that are happening in real time with countries as the players. Whether you agree or not, that again doesn't matter to me, but you state that it won't happen and when I say that did you predict Russia invading Ukraine, you say nope. Well, I did. I also predicted that Russia would be selling it's resources to China at a steep discount and again I have been proved right. I didn't predict India helping out with it too, but that is by the by, the unscrupulous countries and companies will use these countries as a means of getting Russia's resources to market and yes, I am currently making a prediction that within 6 months, especially if the countries that propose to be helping Ukraine out, continue dilly dallying to appease Russia and ensure that they are supplied with Russian gas and oil on a continued basis, will ensure that Ukraine cedes land that Russia holds and then hopefully NATO will welcome Ukraine into it's fold with open arms. The EU membership will only happen if the EU doesn't go into recession due to a prolonged war.

If I am wrong on this prediction, I will say I was wrong, but it is the most plausible way for all countries, with the exception of Ukraine, to save themselves.

Also I will quote you here.

I don't know how JLP will power it's near term growth. Whatever the route the devil will be in the detail. Each of the three options you present can work well or they can be a diasater depending on the terms. I'm happy to place my confidence in the board as they've done alright so far.

And.

I'm not trying to counter your statement. However, the fact the board doesn't communicate as much as some want doesn't mean that by extension to what I said I believe it will be an unmitigated disaster.

So the fact that the board doesn't communicate very well in most Long Term Holders eyes and you stating that the devil is in the detail and how is communicated to the market and us shareholders, should basically show you that even if the board do a good job and I, for one, would be glad of it this time around, that it won't matter too much, as they said no more dilution and then cleared an old share warrant issue with the dilution. Yes, it wasn't a new share issue, but it was still dilution in a period of time when they had said that there would be no more. They should have communicated that there would be one further potential dilution, but that there wouldn't be anymore after that was cleared.

I am long and strong here and trying to add where I can and the board is doing a better job, but they need to clear the legacy issues completely and that DOES include clearer and more concise details in things moving forward.

Please explain why then, despite Germany's insistence that they will give military hardware and offensive weaponry to Ukraine they haven't done it or if they have they have done it at levels surpassed even by Poland. Yes they have given soft or defensive stuff such as medical items in abundance, but where is the offensive stuff to counter the Russian military might. They have had months to give it to the Ukrainians and still hardly anything, if at all, has gone over. I watched and helped Ukrainians pull apart old mig 29's for parts in Romania, so even they are helping and they ARE the poorest country in the EU.

The reason is Germany doesn't want to **** Russia off and therefore is saying one thing and doing something else. Will it come out that the EU want Ukraine to cede land? Yep, it already has from Macron. He told the Ukrainianpresident to cede land and not to make Putin look bad. Putin invaded his country, of course he wants Putin to fail and look bad, would France accept giving up a bit of it'sland to appease a tyrant who'd invaded France to stop a war? Would it heck.

However eill that idea spread, especially if the EU goes into recession, of course it will!

It will be developed in the back channels and will never be addressed fully, but if you want proof that the EU isn't particularly bothered about Ukraine and wants a return to the status quo, you only have to look at the G7 meeting yesterday as those are the people supposedly on Ukraine's side and they couldn't come up with something as a cohesive unit, so what hope does the EU and it's completely differing views take?

I might be wrong on the ceding of land in the short term, but it will happen at some stage and then the Ukraine will be ushered into the EU and most importantly and hopefully, NATO.

I also see that you say that you, like Dorfan have faith in the board, where in my opinion did I say I didn't? I voiced an opinion about how we expand and neither of you were able to offer a full differing opinion to counter my statement. You say that it depends how the board words it, well, that is probably THE most negative thing you could say, as those of us who have been around for a while knows that the board doesn't do communication very well, so by extention your statement states that which ever option they choose will be an unmitigated disaster.

You are confident that the EU, or France and Germany, if threatened with recession won't try to tell Ukraine that if they don't cede land and yhat they drag out the war and cause recession in the EU, they won't get into the EU ever.

Whilst you ponder that, I have to ask you one question. Were you equally as confident that Russia wouldn't invade Ukraine in the first place too? Because if you were look how that turned out.