Member Info for Mikiesunday

Old d, i guess the more we can produce of both the better. At present we are limited to 12k tonnes of cathode. But the opportunity for a considerable up front payment on an off-take agreement must be on the cards here, especially when you look at the shortage of copper in solution around the world. This could be the key to Chambishi, which would unlock substantial copper cathode ability in the region of another 50k tonnes per year. What a power move that would be.

Https://www.reuters.com/markets/commodities/chinas-top-copper-smelters-agree-production-cut-amid-raw-material-tightness-2024-03-13/

Interesting news! I am guessing off take agreements becoming easier and easier in the current environment. Looks like copper through $8,700 on this news. $3.97 lb currently according to Bloomberg.

Graham, the quarterly update is scheduled for late April/ early May. They are fixed in stone now. Expecting some pretty good chrome figures, but news could drop any time, especially in relation to the IRH deal.

The options come into play today. They may slow matters down for a couple of days, but will soon be absorbed. You can feel the pressure building, with so much news and growth to come. Bar a disaster, this is generally on the up now.

Leon did refer to a lot of opportunistic feed supply for Roan and Sable to fill the void before M. So hopeful they will crank it up before M comes on line. Think this is the territory of Ricus.

Quite exciting really Seis. India having a big impact on chrome prices as well, so hopefully strength in chrome for some time. I believe they will keep adding chrome modules. There is still the contract outstanding that was referred to last summer! Add the next two chrome modules and PGM/ chrome earnings jump $50M, which makes new modules at $6M a piece very tempting. Especially if you are then stock piling PGM material for a comeback in PGM prices. The potential for new growth ratchets up, especially when Roan and Sable are simultaneously contributing. Really quite exciting ATM!

In my view we need to concentrate on cleaning up the waste rocks first. With typical grades 1.5 to 3%, they are outright game changers. I would be disappointed to tie up infrastructure and funds, to move onto the tailings when there are so many waste rock projects to develop. Fast forward a couple of years when we are awash with cash then develop the tailings! In the meantime lets get all the waste rock projects. Leon stated a dozen or so just near Project M, with some in advanced negotiations!

I get the feeling copper is just looking for a reason to jump up in price! Chrome going from strength to strength! Just need PGM’s to join the party. Never been so optimistic about the future. Previous highs going to be eclipsed in the near term.

Yep, totally agree Edzi, Ollies fingerprints all over it! Ollie was bought in to turn Jubilee into a multi billion pound company. He wasn't bought in to do two bit interviews, he was bought in to create a structure that can develop into a major. So far its looking pretty good.

@ JLP, this period reminds me of circa 2019/20, when the share price seemed anchored around 3p ish. No one could understand then why and we know what followed! 21p.

@ Jonah, the thought of Leon selling off the South African business has been circling in my head ever since the RNS! I have come to he conclusion i don't think he would entertain this. Its his baby and finally, heavily profitable, with the thought of PGM's rising on the back of US rates dropping is mouth watering when you add this to the chrome production, especially when you factor in the two new modules coming. When you add Sable and Roan at full tilt soon, the balance sheet is going to start looking pretty good, so i dont think he would be tempted to sell, to raise cash in the short term, when earnings are set to to rise significantly. However, i then think if he sold the SA business for circa 200-300M, the growth achievable in copper would be beyond anyone's expectation and in double quick time, creating a copper monster. But even with the cash growth is going to be limited to the production of infrastructure, but waste dumps could be secured. My preference would be to keep SA , growth is still going to be off the hook and i dont think Leon will ever give up SA, its too valuable for the long term.

Https://www.bnnbloomberg.ca/copper-climbs-to-one-week-high-after-powell-s-remarks-on-rates-1.2043590

The second half of this year could be very interesting! We all saw what happened to metal prices yesterday on the hint of a US rate cut! The impact of a couple of rate cuts could be literally dramatic!

Seis, was expecting a return a few hours ago!! Must have taken a while to create the new account. Very un subtle. RNS looks like it had Ollie’s finger prints all over it. Positioning/ structuring the company for some serious growth. He is definitely a committee man and probably the only way to structure Jubilee for the rapid growth about to come! Just shows the importance of Ricus and Neal.

Dorf, the fact you hold big here, is testament to the true potential Jubilee have. If they realise a fraction of this now, no one here will be disappointed.

Seis,

I have just had a look at the chrome figures and agree with your margin at $23.18 for the second quarter. This is a substantial increase on the first quarter. Revenue for the second quarter was $64,637,010 ( 718189 x 90 ) minus $ 28,618,055 ( 336,683 x 85 ) = $36,018,955. Divide by 381,506 tonnes equates to $94.41 per tonne revenue. Using the same method costs were £71.23 per tonne giving a margin of $23.18 per tonne. Hence chrome earnings of $8,843,309 for the second quarter ( 23.18 x 381,506 ). On a yearly basis this is $35,373,236, a substantial difference made by the last Thutse module and contract. Add 2 such further modules and i believe chrome earnings jump over $50M, as long as chrome prices hold, especially when you look at the difference one such module has already made. The current market cap is only 3 times this figure??

I believe in Jubilee very strongly, i believe in Leon & Co very strongly. I believe you are a two bit con man at best. Wont say at worst, but i am very grateful for you getting me interested in Jubilee in the first place.

You just completely make it up and try and justify when called out. Your missing the point Project M is completely owned by Jubilee, or will be when they activate the right to buy. Many more M’s on their way in!

Whats the point of betting with someone who is proven dishonourable and highly likely to default on the outcome? I am guessing you have worked out you need to reign it in a bit during the week, but can riot at the weekends un checked! Keep reporting everyone. Jubilee is clearly on the turn, chrome earnings rising, just report him at every opportunity.

Morning Jonah, great to hear from you. Like you, i think Rikus is having a great impact here. I believe he is securing a lot of the feed piles and opportunistic feed stuffs. I believe the new M’s are being lined up like ducks! The market has not recognised the size of these projects and long term supply yet. Leon clearly stating 4x M is equal to a large mine! Neal is also having a great impact here and i am guessing he is the financial control being referred to. But i do believe he is capable of the creative finance and is being given the ammunition from Rikus and Leon to achieve this. If there is proof of long term supply and ability to process, the bond market opens up, the banks become interested, private equity have a sniff and off take agreements very much come on the table. So much was said at the AGM without realising the importance. Ollie was stressing the ability to use off take agreements for financing and i guess we are now close to that! Leon did a direct link and was stressing no one would believe the speed this would now roll out! He subsequently suggested this, reiterating the best IP protection is to secure the majority of the market! I believe we have hit the turning point and are going to see rapid growth, beyond most expectations and its definitely now a team effort with Rikus, Neal and Leon driving this forward. With Chimbishi clearly on the cards, i think we are going to see the difference Neal and Rikus are now going to make! No pressure guys!

Possibly Seis, matters should become clearer soon.

Seis, i really believe they are planning that much volume. They are talking potential of 8-12 modules for IRH. That is going to seriously utilise Mopani. Leon was suggesting there was a dozen M’s near M. He has already hinted several of these are incoming. No doubt he will want them all. The anomoly at M may increase the number of planned modules. Refining capacity is going to become a big problem and thats before they even consider the tailing resources. Leon will want his own refining capacity for the deals like M. If the modules do as planned, development now moves at lightning quick pace and hopefully they get a bargain at Chambishi.