Member Info for Mikiesunday

Northern, that is spot on. Hopefully finance is a credible option now. Previous projects have had a long or relatively long pay back. To fund the completion of M and G is almost an immediate pay back and process is proven. Servicing of any financial instrument should be easy given the increased copper income stream. An equity raise would be very disappointing to complete this project.

Great interview. The desire to build beyond the current project stream really stood out. But more importantly, the desire to complete the current project stream in a timely manner to enable the next wave of projects. A very focused and in charge Leon.

Seis, i am assuming they have enough feed source to ramp up the front end of Roan. Whilst they have not specifically confirmed this, they have given no indication of further feed required. Plus they have confirmed a fast track ramp up. I believe most of the copper growth this year will be underpinned by ramping up Roan. We should pretty much know by the end of the first quarter. It will be interesting to find out the progression of the original part of Roan.

As you say M& G plus their satellites do look very capable of filling Sable rapidly at 10 fold of their grade. In the meantime i am guessing they are processing as much 3% grade as they can. The module time lines are now critical and i am hopeful they will get M hub up and running in 6 months, which would give one quarter of condensed processing in the current year. Ghis may be hopeful, but my glass is always half full.

Kaiser, i make you completely right, perhaps a tad conservative if anything. I cant see Jubilee being happy with the projects at hand, they are clearly looking to exploit the SSM situation, but its very important they get the 2kt per month first or close to it, before wading in further.

An interesting point in Charles Arthur report. “ Jubilee is being extremely conservative, wanting to under promise and over deliver.

Jubilee is unable to include the Roan upgrade in its forecasts for a regulatory reason.

Ramping up will take longer than expected at Roan.”

He states these as possible reasons for the low forecast and goes on to state its probably a combination of the first 2.

I hadnt even considered this could be for regulatory reasons? Any thoughts anyone?

Great news- well done Jubilee management. Seems like the board are taking a tight grip, from forecasting to future energy supply. A definite wiff of maturity about the place. Well done guys.

Seems like there’s pretty concrete plans to buy a mothballed facility. Plus build a refinery at Roan. There is certainly no shortage of opportunity or development plans. If your happy to wait 3-5 years, this is going off the scale. Short term doesnt look too shabby.either.

Https://jubileemetalsgroup.com/wp-content/uploads/2024/08/Zeus-21-August-2024.pdf

Jammer, that is certainly going to be the kind of capital required. They are talking a 10 month period i believe, so i guess a lot depends on when amounts fall due. I am hoping the additional revenue from Thutse 2 and Roan feeding Sable will eat into a big chunk of this. Also if no further chrome expansion for a while, there will be free cash from the existing chrome business. The forecast doesnt give much hope here, but i think everyone agrees that is ultra cautious.

Hopefully Munkoyo Seis, as we own nearly 100% of the proceeds. But i think the IRH deal will grow far faster, with no cash limitations. I can see 4 modules turning up fairly quickly there. I would imagine IRH are keen to start utilising some of capacity at Mopani. It will be a race as to which one first?

That,s very interesting Seis. Copper and chrome are showing a very similar growth pattern with hardly any growth in the first 4 years. Then a marked upward shift. If the next few years track in the same way, many will be happy.

2026 is going to be the very interesting year BB. Although 2025 could prove to be even more interesting if the forecast is raised throughout the year.

Everyone knows 2024 is not going to trouble the scorers. Its all about the quarterly reports now. I anticipate a gradual increase in the share price as they arrive. Clearly Neal and Ollie have hit the reset button on how the company presents itself. Its come as a bit of a shock to the market, but sets up this new period of growth very well. Its been a while coming, but i look forward to the quarterly’s with great anticipation. In the meantime we will get to see the chrome margin, news on Thutse 2, which should have a bigger impact than Thutse 1. News on the IRH deal. Theres plenty to drive the share price now, with the company re-set and nothing but growth coming, theres plenty to get excited about in the next 12 months, just forget the last 12, however transformational they may prove to be with hindsight.

Https://www.thesundayroast.net/podcast/episode/510c6401/s8-ep51-midweek-takeaway-with-leon-coetzer-ceo-of-jubilee-metals-aimjlp-jlp

Only had the opportunity to read once this morning and feel like i've been on a roller coaster. Initially felt l sank so fast i left my stomach behind. The copper forecast was my worst nightmare, but then i looked at the chrome forecast and realised it was roughly the same as the last 6 months production. No account for Thutse 2 or possibly even Thutse 3. I can only assume from this Neal and Ollie are really starting to influence the figures. There is no doubt this is a caution first approach. Under promise, over deliver. Take the pain now and impress going forward. There is no doubt we will see production grow quarter on quarter. I would not be surprised to see the forecast rise every quarter. There is a clear change in the style of RNS, concise, clear and understandable.

Chrome impressed again at well over 400kt. Disappointing there was no margin quoted but we should have this in the next 4-8 weeks.

Lets not lose sight here, chrome and copper are rising, this means the bottom line is. The chrome margin is key for the next 12 months, because if they maintain 420kt per quarter and add 150-200Kt (1,800-1,900kt) at Thutse, this underpins quite an increase in the financials, whilst the copper is developed. Plus the chrome margin is likely to increase with Thutse 2. Every quarter the income is likely to increase now, maybe not as fast as we hoped, but it is likely to increase.

I take great heart in my chrome forecast is way higher than Jubilee's and i think there is plenty of evidence to support this.

Fair enough Edzi. Still looking forward to those beers!

Edzi,

I accept there has been problems, but equally they have and are being overcome. These problems have been highlighted by you relentlessly over and over again, day in day out for many months. You are clearly bitter with Leon, who turned down your advances, what ever they were.

I am fully supportive of Leon and believe 100 per cent he is building a sustainable business that is scalable on several fronts, that has attracted the interests of Abu Dhabi. He has assembled a good team. Neal seems to be on top of his game and has recently invested his hard earned cash. Ricus is making great strides and seems to be turning a cottage industry into a considerable opportunity. After meeting Ollie i was very impressed and have no doubts on his ability to guide the company. I am invested here and am accumulating because i believe fully in the company and the boards ability to return me multiples of my current stake. Leon is an over achiever of that i have no doubt. Sentiment will return soon.

Weeks?

Edzi, that doesn't make sense. You cant give facts about forecasts. They are best guesses. The more complex the situation, the more moving parts, the more likely one is to go wrong.

I ordered some wooden flooring from Indonesia. It was meant to be delivered in 4 months. On the first update i received, i was told it would be 6 months because of the middle east situation. After 5 months i was told it could be upto a year because the machine that routed out the tongues had broken. This was a company i have previously ordered from on several occasions and found them very good. That was a very simple order.

Some things are out of your control.

Cant see this hampering Jubilee, but could affect future exploration in Zambia. May be supportive of copper prices?

https://m.miningweekly.com/article/zambias-proposed-mining-law-bad-for-investment-miners-say-2024-08-07

Gray, i agree Roan is late, you cannot hide this, but its up and running now. Its producing and the copper story is under way. Never under estimate the power of this board. I know of many influenced by this board. Especially during quiet periods.

I do think Leon has learnt his time line lessons. I believe he over promised at the back end of last year after 18-24 months of delays. He was desperate to appease shareholders and probably quotedthe best possible scenario, which is virtually impossible in Africa. His time lines seem much more reasonable now and he is not in the same corner with copper finally ramping up. So i think 12 months has spare capacity built in to achieve 2kt per mongh.

Seis, you are correct, balance is very important and you are probably one of the most balanced posters here. No one wants to fall down a man hole for the lack of vision.

Last year i could fully understand the berating of the company. This year, there is a game plan and progress is being made on the copper and chrome front. Not as fast as hoped for, but real progress none the less. As you just stated, the SSM are being prioritised for their higher grade. A smart move utilising limited funds on the biggest return. How much of this sector Jubilee hope to secure is unknown, but with first mover advantage, the potential is good.

Sentiment is key to the share price, but clearly some are intent in keeping sentiment low, by going over and over the same ground and short comings. For every positive post on here, a lot of negative posts are made and people wonder why the share price is not rising?