Member Info for Mikiesunday

Gray, i dont think its that the tailings are commercially unviable. Its more that the rocks are so much more viable. The rocks have an average grade of 1.5% - 3%, whereas the tailings sit at 0.3%. They are limited by cash flow at present and have correctly chosen to pursue the richest prize. Once they have saturated the richest prize, im sure they will move on to the tailings. Priorities must.

Lets hope Gray, this time next year we are celebrating. On the chrome and copper front.

Looking at the last quarter Gray, production could be a fair bit higher than 2M. If it is, the chrome figure is going to get more interesting. But its very interesting at $60M and provides a solid back bone. Whilst we have written off PGM’s, a small recovery in the price and they become interesting, especially with an extra 20kOz floating around. I completely agree, copper has been a disaster so far! But i’m taking the attitude Rome wasnt built in a day. I am now feeling very confident copper is on the right track and will reward all. It looks like we are coming good, just at the right time. Lots of feed being secured at a time when copper is jumping. Slater is one of the best in his field and he has been increasing his position. That says it all for me.

Gray if you are referring to the $23 figure, you need to look at the difference between 1st quarter and half year. I posted the calculation early March and i think Seis posted about a week earlier.

Sorry Gray, margin of 23.18 was second quarter not first half, after impact of new module.

Did- don’t, should have proof read!

You know, i did think you will be far off HD. Especially when you consider how many PGM’s should be produced at that point! The only kicker is neither new module will have a full year. Using the margin from the first half ( $23.18) x408710 ( 3rd quarter chrome production) chrome earnings for the third quarter would be $9, 473,897.8. I believe chrome prices hardened in the third quarter, do likely to be over $10M. Plus we know PGM’s hardened a little. This means the SA business is doing very well and more than supports the current share price on its own! Especially when you factor in another 2 modules! Share price should be way higher just on SA!

Seis, looks like all the copper predictions starting to materialise! Keep signing up the small miners and we should be able to produce copper solution for fun.

Shuvlin, by the time copper gets to $15k ( which now looks very credible), Jubilee’s production will be well over double 25k. The way they are picking up small miners, they will smash that, just in the small miner arena!

Https://www.forexlive.com/news/copper-the-foothills-of-what-will-be-its-everest-goldman-sachs-20240418/

Brent is retreating too! Good news for inflation. Too much optimism around this afternoon. Must be contagious!!!!

Think of the compensation and potential loss of earnings claim Frog!!!! Lol. Always a silver lining. The really important message i got today Frog is they appear to be extremely successful in securing the feed. They have now secured 3 sites including M. With 3 more close. As soon as they get processing, new modules cant come quick enough. If they run out of processing capacity for cathode, the copper in solution market seems absolutely desperate for more copper mix! That will fund more refining capacity in short order. Fete and the wider macro is delivering for copper. We just need to get going now. Feed and Roan - hopefully May/ June we’re away.

Initially, i was surprised to see the quarterly come so early, a pleasant surprise. Well done Neal. But my surprise soon turned to disappointment. Just when you think they're getting there, the kicker drops in. After a few harshly thought words, i actually started to look at the bigger picture and the message in the RNS. The feed is starting to arrive. Roan without the feed is useless. With the IRH deal and M coming on line later this year, they need feed now. With two new deals just signed and 3 on their way, feed should be arriving at a similar time to roan being ready. maybe the plan all along. It can be clearly seen Jubilee is making headway in the small mining sector under their own steam. The growth potential here is perhaps collectively bigger than many thought. The need for additional refining capacity will certainly arise sooner rather than later. My guess is Roan will be extended to double capacity as suggested circa 3 years ago and a new refinery as suggested at the same time will be purchased. There was suggestion of two new refineries with one dedicated to cobalt. But i am guessing Chambishi will solve both the cobalt and additional copper processing capacity. Clearly the potential for Jubilee to grow fast and organically in the small mining sector is there to be seen and soon tasted. But collectively all those small miners become a different animal. Hopefully news of more contracts will arrive on a steady basis. At the other end of the scale we have the IRH deal coming on line towards the end of this year and i would not be surprised to see more deals announced here, individually on a much larger scale. So after the disappointment of Roan initially, the reality and scale of what is about to happen is somewhat over whelming. Well done Leon & Team a few weeks is neither here nor there, especially if you get most of those small scale miners. The challenge is to get most of them.

Outside of the board, i doubt anyone knows Jubilee better than Slater. Very interesting they are increasing their holding again!

Https://www.bnnbloomberg.ca/an-eye-watering-squeeze-in-copper-ore-is-firing-up-the-bulls-1.2058577

“ Across the market, traders and smelters are paying roughly the same price for copper ore as the copper contained in it would fetch once processed — a highly unusual situation that points to a shortage of immediately available supplies.”

Indeed Ardbeggar. It was followed yesterday by PPI coming in lower than predicted at 0.2%. But wasnt enough to turn current sentiment on CPI. Fed look like they are still treating this as a bump in the road. All eyes will very much be on the next print. If it resumes the downward trend, the soft landing is looking very solid. If it keeps rising, who knows? Another rate rise? If you look at the dot plot, this would suggest the soft landing and a bump in the road scenario. Lets hope thats right.

Sumo, hopefully we get the perfect landing! All eyes on US inflation!

Yep, i can see that GR, but its surprising me, people now predicting $3k gold, when risk assets are likely to become much more trendy! If the drag factor becomes more significant there could be a fair jump in PGM’s. A weaker dollar will help here too. Definitely looks like PGM’s on the move, with lots of potential. Certainly helping the bottom line ATM. Final quarter could be a little special with elevated chrome, copper and PGM’s.

Nice to see platinum break $1,000 on Bloomberg and Trading economics.

If you find what you consider to be a winner and its in your risk tolerance, throw the kitchen sink at it! I particularly like commodities for one single reason. Every company needs them! It might be difficult to pick which electric car manufacturer is going to be a winner. But you know whoever wins will need commodities!

Hopefully the quarterly report may be early again. Neal Reynolds timing so far has been immaculate. Earlier than expected every time! Scheduled end of April / early May.