Member Info for Mikiesunday

Dru, i believe very much in the planning, but just ran out of time to discuss. Their priority is to get Sable full from M and the LWP monetised. Resource report completed.

Plus Kalan, expect updates on the drilling in the meantime!

No Kalan, everybody knows your game. You have admitted you sold out hoping for a lower re- entry. Your high risk strategy as you put it, may have failed this time! The proceeds of Roan are being stockpiled and will go Sable. Centrifuge will speed up. Guidance is in tact. Jorc expected in 4 months. Company breakeven effective with centrifuge in approx 2 weeks. A leopard never changes his dpots! Resource estimate on LWP could come very quickly.

Yep AB, they are clearly waiting on the full resource definition of the LWP to screw every last inch of value from it. They have had all kinds of offers, including full purchase.

Yes Cou, plus we get the refining profits from the Galileo deal, which is a huge swing in Jubilee’s favour.

Yes the likely partner would refine the copper solution we sell them. They would in exchange give us a royalty.

Actual copper price was not disclosed. Roan is producing 280 tonnes per month, but some of it is piling up waiting to dry before it goes to Sable. So copper units sold maybe lower. Problem solved in a few weeks with centrifuge, but Roan producing 280 tonnes. With the front end to come soon as well. I was pleased that M on its own would completely fill the expanded Sable.

Continued. Overall breakeven point for Zambia is 350 tonnes per month, but was based on a lower copper price. The cost of plant is jumping up as manufactures want to take advantage of increased copper prices. Hard haggling needed. But the overall breakeven point may be lower due to higher copper prices.

Shamrock are completely removed from any interests at Kabwe now. This will allow the sale of the remaining zinc and lead. 60% of the zinc was sold last year for $13M. Zinc was much cheaper then.

Copper is so hot, They have had many offers for the LWP of all kinds. They are planning a resource statement here to quantify the value.

Value will be added in two forms. Firstly increased production, secondly a resource definition for the LWP and a Jorc report for M initially and then the wider M or greaterM. Galileo have the right employees to produce the Jorc report.

The price of high grade feed to Roan has been fixed for 2 years to come at last years price. Looking a very good deal now.

Left the AGM very excited at the land grab and prospects here. More importantly JMK and Leon appear in complete control of whats to come.

My notes from AGM. Leon and JMK were present at the AGM. Very few shareholders attended circa 10. Lots of discussion around the accounts and their complexity because of a pending sale. Accounts will return to a more simple format as the sale has concluded. The board are satisfied the sale was in the best interests as chrome was completely dominated by the Chinese.

Tjate was discussed. There are 2 other miners, either side of Tjate. One is estimated to reach Tjate in 7 years, the other in 10 years. Tjate is in the accounts for 40M. Tjate is well drilled and evidenced.

Deal with Galileo is for the initial M licence only, 400 hectares. The greater M area, 25,000 hectares is not included. Galileo will only share in revenue from the production of mined and upgraded copper in solution. The refining profits will be exclusive to Jubilee. There are 2 modules planned for M. The first will begin construction in 3or 4 months. The second will follow 3 months later. They do not want to start before they have full drilling results as needs to be sited in a convenient spot where they’re not mining. The first module should go live between October and December, the second 3 months later. M will completely fill the expanded Sable. 14,000 tonnes annually. Drilling results should be complete in 4 months time. Drilling is upto 120 metres deep. There are plans at a later date to drill to 160 metres. This will just be for the original 400 hectares. The wider area will take much longer. The land grab has finished. 25,000 hectares is more than enough to cope with. The Chinese have just about grabbed every other square inch. Leon states our timing was very lucky. I feel he was being modest. I think the timing was impeccable and a massive effort put in to secure. They used lots of historical information to choose their licence areas. It was not random, but carefully selected with copper exposed on surface at many areas. Roan running at steady rate 280tonnes per month. Front end will be commissioned end of rainy season allowing a step up in production. Centrifuge will allow more material to be dried snd sent to Sable. Future plans for further refining to a higher concentrate rate. Circa 45% and will be sold direct to market. Until then will go to Sable for refining until M takes all Sable’s capacity. At that point Roans copper solution will be sold direct to market, with plans to refine to a higher percentage concentrate. Will involve more infrastructure.

The LWP is making good progress. The deal is shaping up and will involve a partner that has processing capacity. The deal will look like Jubilee solely building the modules and produce copper solution. Jubilee will keep the earnings here and sell the solution to the partner in exchange for a royalty from the finished product. The partner will fund the modules.

Will continue on another message.

Sale promised, sale delivered. Its been easy to criticise over the last 12 months, but my word, have there been some changes! The sad reality was a company consumed by debt and only too happy to issue shares. What a transformation. A clear and understandable 3 pillar approach. Clear goals established in each pillar. Nearly 100 square miles of exploration land secured in in what can only be described as a pretty hot zone. For those who think management have been sitting on their hands whilst the SA sale was underway can think again. Securing 100 sq miles has been a gargantuan effort. A new focus, an opportunity, that benefits from years of failure and success. That experience will hold us in good stead to fully realise the potential we are sitting on. With cash in the bank and a new approach of no more equity raising. This could just be a watershed moment.

Afternoon all. JMK has confirmed no RNS today as the JSE is closed. Update will be here Friday. No idea what the update is? But im guessing the sale is complete. Happy New Year everyone. 2026 is shaping up to be a good one.

Can’t even get ny name right!!!

NTGU,

I couldnt give two hoots what you write, think or say. However, Seis is one of the few reasons i read this board. The FD is one of the best things that has happened to Jubilee in a long while. Soon, i believe we will start to see results, along with a rapid share price recovery.

Eagle, Seis has summed up very well. The LWP is capable of producing 50k tonnes per year for many many years. Probably in excess of 15-20 years. The moth balled plant at Chambishi, i believe is capable of processing 50k copper and 5k cobalt, from memory, so i think it is more than just a-coincidence its in the AR. Plus they have $90M to grow the company. To me, tge maths add up.

Morning gents, i think a share buy back is more likely than a dividend. Slaters will control this and Jubilee is in their growth funds not their income funds. Same goes for Gervais, its a growth fund, who are accumulating rather fast. Can see lots of infrastructure first. Refinery at Roan. Then a possible purchase like Chambishi. Feel the next two years are going to be rock n roll. Going to make the ride upto 21p look like childs play in my opinion and just my opinion.

Agree Gray, its got to be a partner with deep pockets. May just be a financial investor.

Wishing you and your family a very happy and prosperous New Year too.

Happy Christmas Gray,

im assuming the partner will only get a share of the mining profit. The processing im assuming will be 100% Jubilee.

Https://x.com/jubilee_metals/status/2001986850001740024?s=46&t=mVgZpn0KGRUg-RQaOGChhg

Despite all the hardwork being put in by the detractors, to confuse, insult, make false allegations and create an air of toxicity, i feel, the share price is starting to grind upwards. I am sensing a feeling of confidence i havent had in the last couple of years. A focus in the company that is going to grow copper production. A tenacity in the board to achieve, born out in the accumulation of 100 square miles of development licences. I am once again believing in the prospects of the company and for one would very much like to thank JMK for his role in this. The company is and has been transforming. The time for optimism is once again here. Happy holiday season everyone.

Northman, they are accumulating copper assets at a rapid rate. They now have nearly 100 square miles of licences around M and G. Every time they release a figure it jumps up. The potential here is to discover lots more M and G’s. The land grab has gone way beyond my expectations and highlights how serious the board are in their transformation to copper and Zambia. There is a big effort going on behind the scenes.