Member Info for Mikiesunday

Gray, i believe, maybe i should say hope, but i think the 4th quarter margin for chrome will increase a fair bit, based on the chrome increases. Obviously this will be restricted by fixed margin contracts, but where Jubes has purchased the reef, i would expect the increase to go straight to the bottom line. Obviously this will result in future purchases/ contracts being more expensive, but must be a sweet spot at present.

Seis, Northern, that broker note just reinforces they plan to build a refinery at Roan. Makes perfect sense. I wouldn't be surprised if they dont have shovels in the ground by year end.

Interestingly Seis, the share price is in a similar range to end of full year 23. Im guessing from that, the market agrees the figures wont be much different. But this would suggest, there’s absolutely no premium built into the share price for whats about to come! For new investors turning up now, this has to be one hell of an opportunity.

Seis, I wouldn’t disagree. I am expecting a small increase but not enough to trouble the scorers. However, i am expecting the last quarter to be a lot better than the first quarter, which bodes well for next year, with Roan and the new chrome modules to kick in.

Looks like someone wants shares at these prices! Been able to buy all morning on IG at 7.12 and sell at 7.125. It was similar a few weeks ago and i did try buying and selling. Didnt work out great as they will let you sell as many as you want, but restrict the amount you can buy back. Ended up buying them back later at a premium!

Think its gonna be a long time before these boys run out of ideas Gotreal. They’re already hinting at a refinery at Roan and more small mine purchases! I thought Chambishi would have been more likely. Although, i guess if you own the land, have the utility infrastructure in place, maybe its a lot cheaper to build one. Roan certainly does make sense, the more i ponder on it. Lots of material on site to refine!

Seis, i think people are missing the point, earnings will rise each half year quite substantially now though. Roan will have a big impact over the next 6 months and i anticipate a lot of the Roan concentrate will go to Sable in that period. Look 6-12 months ahead, the two new chrome modules will have a big impact on earnings. Looking 12-18 months ahead the two new concentrators at M and G will have a big impact to earnings. Then Roans concentrate will all go direct to market. Looking 18-24 months ahead, Leon mentioned another chrome project and IRH should be on line by then. Earnings are set to steadily rise through the roof over the next 6-30 months! In 36 months i anticipate earnings being on line to be higher than the current market cap if all the above comes on line.

Northman. It looks like a golden opportunity to me. I cant believe they have just secured 8 years plus supply for a couple of Mil! Its going to be very interesting to see how quick they can replicate this. Another refinery at Roan makes sense, but it seems there is a rich pool of small mining licences, that somehow they have to find a way of developing these on scale. When they talk about grades of 3-4%, its just on another scale compared to the original Elephants! I’m sure they will revisit the original tailings at some point, but this material is like gold dust in comparison, with a plastic price tag.

This update is much more important than many are giving credit for. maybe caught some people out, thinking in old Jubilee fashion there wasnt going to be an update!

The first very important message here is Roan and Sable are capable of 25K tonnes between them. This is substantial with the IRH deal waiting to come on line as well.

The second stand out point suggests both the purchased mines, or majority purchased mines at the advertised feed rate and copper grade will fill Sable for the next 8 years plus. Thats a couple of million now in exchange for hundreds of millions over the next 8 years, if you use Leons all in cost of under £6k per tonne.

The third stand out point hints at a refinery at Roan. Makes good sense with ample electricity and water supply already there as Leon has referred in the past.

Fourth stand out point alludes to material already being delivered to Sable. Whilst Roan is undergoing final checks, Sable is being ramped up.

To me this is probably the most important RNS ever delivered by Jubilee. Congratulations to the team on getting Sable under way and with what appears to be 8 years plus material. The earnings here will change the bottom line substantially in the next 6 months. Roan has a feed source secured and coming into play soon. The copper story is moving into gear and is going to rapidly increase earnings over the next couple of years. We,ve had to wait, but its here and happening. Well done Leon and Neal. So much to come.

Https://x.com/Jubilee_Metals/status/1805148958668259589?s=08

Problem here is a combination of factors. No updates. Several million options doing the rounds and metals prices falling away from their highs. I believe if there was any bad news, Neal would be upfront. He is a qualified professional in his field. Definitely going to be some slippage as the small mining licences go from a theory to reality! But the results will be life changing. The management cant do anything about the options or metal prices, but they can give an update. Hear that Leon/ Neal?

Chrome reassures me at the current price. As Seis updates regularly, the price is very high and appears to continue rising. If Thutse module two is on track, the next full year will be impressive at these prices. None the less, Leon put pen to paper!

@ Seis and Jolly, thank you.

If the price of diesel in SA is reflective of the UK, it will be cheaper than last year! Anyone got figures for the last 2 years in SA?

https://www.racfoundation.org/data/uk-pump-prices-over-time

The increase in earnings, that Roan leads to is exponential. If it is not reported in an RNS, it would be the biggest PR failure of all time! Jubilee have certainly had some, but i’m not expecting another. No pressure Neal Reynolds! I would expect an RNS in the next 1-14 days.

That’s a very good point Jonah. Could be that. I guess some of that has been going through Sable. But i would still expect them to be stock piling the new small mine feed somewhere, especially as it was immediately available.

That sounds pretty exciting Seis. My main concern, up until recently, was what are they going to process. But the small mining licences, just seem a stroke of genius. It must be material arriving from them. Recent RNS stated they were ready to deliver immediately. Hopefully they have signed up some more since the RNS and material will be flowing to Roan and Sable.

Just the electrics to be confirmed.

Seis, thats very interesting. Im guessing that is material from the small mining licence that was available for immediate delivery. Looks like the plan is coming together, with Roan and the feed ready.

Sorry meant to start that with Seis.

IRH certainly seem very motivated here. This can only be good for Jubilee as there must be opportunities for Jubilee to exploit. I am guessing there will be a lot of infrastructure potentially available as well, that could potentially be used to support the small mining sector. Especially in the short term, providing an immediate return for all involved. I would imagine this would very much have the support of ZCCM and the Zambian government. The networking opportunities here could potentially speed up the development of the small mining sector.