How many billions? at 1.01 min, courtesy of zow 98. https://youtu.be/bKm5KXSTcuQ?si=d6nppIPpeaV_mHIa
That would be great, to help the kids. Makes the investment extra special.
Seis, its very intriguing! I think you are on to something. I definitely feel we will have an interest in 3 refineries at Sable, Mopani and Chambishi. Its not going to be long before serious refining capacity is required and we know Leon is keen to roll this out yesterday. We know the banks are involved from Slater. My guess is to fund Chambishi and a number of modules. Sable is ours, Mopani seems secured and it would appear they have already identified their targets to fill them. Maybe i am just day dreaming, but i think they want to secure the lions share before anyone else gets a sniff!
Charles, i take your point fully and would not disagree with much written. But i would like to add, the virgin rocks are a complete in house solution and were never on the table when most of us bought in. They have only really come to light in very recent times. There is no Glyleach technology used in the processing of rocks. Most of us bought in to the concept of the company, PGM production, chrome production, then the processing of tailings. Now this has been massively expanded by the processing of virgin rocks and completely in house. We have been told there are about 2-3 billion tonnes of tailings on surface at an average grade of 0.3%. We have also been told there are around 1 billion tonnes of rocks at surface, where the grade appears to somewhere between 1 and 2 % on average. If you take an average grade of 1.5%, this makes 1BT of rocks worth about 5BT of tailings. In my view, this has dramatically changed the position here. Rocks alone are a game changer, with Leon stating one dump alone is capable of 25KT per year alone! I appreciate the proof will be in the eating of the pie, but take great comfort in the success of their large scale tests here. This has just up scaled the resource available dramatically.
Plus worth noting , the large scale testing for the rocks has been completed and modules currently in construction.
Jonah, your first figures should be close in respect of Project M as this was reported as 2% grade.
Project M has an average grade of 2% as per the original RNS. We musnt confuse the virgin rocks with processed tails. Remember the rocks havent been processed yet and as such are higher in grade than the tailings. The average tailings are 0.3% in grade, but recently leon referred to rocks as an average 1%, but could be much higher dependent on actual dump. project M is 2% and there is no surprise Leon has prioritised rocks because of their grade. A great tactic, take the richest pickings first. Bushey is just trying to confuse as usual, taking lowest figure and distorting the truth.
Plus Roan!
I believe Leon was quoting the rocks at 1%. Over triple that!
there are 2 modules at present, one at $6.5m and one at $3m. leon was hoping to squeeze a third in soon. as at the beginning of the month, all long lead items were secured on one and construction had begun. the other was on order. one point that does not get discussed here much is the faith zccm and the zambian government have in jubilee. zccm is, as i understand quite a considerable entity and will have some extremely senior and experienced staff. they obviously believe in jubilee. after a considerable tender process, they have selected jubilee for the mufulira **** project. are we supposed to believe zccm and the zambian government are clueless? i think not. also draslovka must believe in jubilee, not only to award an exclusive license in zambia, but the drc too. this is leaving the vast experience of the slater and fidelity houses to one side as mere financial wizards. these are hardcore industry specialists in the form of draslovk, zccm and the zambian mines ministry all backing jubilee.
Dorf, its such a shame when this happens, as some really good posts get taken down with the rubbish and lies that get posted here.
Thank you Shatner. I thought i was good at ramping! Thats why ive been here so many years and plan to stay for quite a few more!
edzi, i understand everyone is ****ed off with the share price. none more than me, but theres no point harping on about how bad or past mistakes. they’re done and spent. theres more than enough people on here assuming that role. some excessively! i happen to believe the company and have invested. the last 5 or 6 rns’s have been extremely positive and sentiment here has been very sour. i cant see what there has been to moan about in the last few months. comms are improving dramatically and the latest presentation is much better . whilst i very much appreciate your input and would have relished the chance to meet you at the agm, i note leon rejected you professionally and wonder if sometimes you are over critical of them because of this. i note you are very successful by your own admission and their efforts may not live up to your standards, but i believe their efforts have improved dramatically. maybe im just too positive by nature, but i do believe here. even if they dont crack the tailings, theres vast earnings in the rocks.
Yes Jonah, the DRC reference was the big reveal for me. They have an exclusive licence for both DRC and Zambia. I am guessing they must have real intent here, otherwise would have never been able to secure an exclusive licence. The opportunity here is vast. Leon stated there are 1 billion tonnes of rocks at surface in Zambia. Referring to the virgin mine waste, that has never been processed. This is higher in copper grade due to its virgin nature. So Leon states the average taiings contain 0.3% grade. So what equivalent are the rocks? 1 billion tonnes @ say 0.6% grade would be equivalent to 2 billion tonnes of tailngs. It would be interesting to know the average grade in rocks as this could be a much more substantial resource than perhaps the market understands. I dont think its any coincidence why they have prioritised these first and rolling out the modules as fast as they can. So my point, how many rocks are there in the DRC? What is their grade? How big is the opportunity just in Zambia and the DRC?
Bob up, they are definitely producing at Sable during this period, from direct feed stock. We will have to wait to Feb to see what that means in numbers.
Afternoon Jonah, i really need to listen again, but i do not recall any time specifications. However from the AGM , They were busy constructing the first module and upgrading Roan, with all parts on site. They were on schedule for completion during December, so no reason to assume otherwise. Overall Leon seemed supremely confident with Roan and the changes they were making leading to max capacity at Roan. His enthusiasm was undeniable, definitely a man on top of his game. He mentioned delays at the port, but this was more in regard to the expansion at Thutse. So shouldn't affect Roan and module 1, i believe, as all parts present. I guess this may have an impact on module 2, if they bring into SA, but i feel its weeks rather than months. Hopefully news on Roan in the next few weeks, would make a lovely Christmas present. Leon covered the mistakes of Roan again, mainly due to infrastructure problems and only able to take one type of feed source, limiting capacity. He also confirmed Sable is still operational and processing material, but to what extent is unknown.
I need to listen to that 2 or 3 times to really comprehend. But 2 points really stood out. Firstly we have an exclusive licence with Draslovka for Zambia and the Congo. Just proves intent to move into the Congo! This is unquestionably a monster in the making! Go get the Congo, Leon. Secondly the Mopani MOU is about to happen! That will give 31k tonnes of refining capacity plus copper solution and all in the near future. I get the feeling, the copper roll out is now going to make the chrome rollout look like a snail in comparison!
Dorf, it certainly would. But i am very hopeful now, the world economy is starting to pivot. China is stabilising their property sector. Inflation is gradually falling in the states, hopefully meaning no more rate rises, which means a weaker dollar. A weaker dollar naturally means higher dollar traded metal prices. Add in a gradual world recovery off the back of peak rates and who knows? This time next year Rodney? But one thing for sure, when the recovery comes, we will have 3 metals in play and not just PGM’s!
So over sold Sumo! Somethings gonna make a differencevsoon!
If its not Project M, Leon did want to squeeze another module in. If the cathode capacity is full, theres plenty of money to be made from copper solution.