Member Info for Mikiesunday

Gray, 3.5M tonnes example assumes a grade of 1%, which is the average Leon used in the interview. The resource is huge. Even at 0.5% its a huge figure!

One of the biggest benefits of the partnership with UAE is access to their processing capability 200k tonnes per year at Mopani. Ok, a toll processing fee will have to be paid, but it makes for a considerable outcome and makes the tie up super exciting and more importantly super profitable!

It does seem dreamy to me, very dreamy. 2,000 tonnes of copper per month from 4 modules. I keep pinching myself, to make sure im not dreaming! Backed by the UAE!! No one wake me up, im very happy in this dream!

Sumo, im just enjoying there is 4 on the way to start. I dont think the next 4 will be far behind!

Jonah, i completely agree. I would imagine there would be lots of incentives and bonuses to Jubilee based on timing performance and production with a minimum 30% floor. This would be a very complex arrangement. There is 3.5M tonnes of copper in the mix! It just sounds bigger every time i say it! If they only recover 75% at 50k tonnes per year, that would take over 50 years!

@ Jonah, i believe the Zambian government take advice from Jubilee. This has been obviously planned for a long time. Leon has stated on many occasions they have been advising the Zambian government and are clearly on the inside of this process.

@ Dorf, i agree with your sentiment. Initially i was fuming and very disappointed with the way this has been handled. Being asked to vote without an RNS. Then an RNS confirming no knowledge of a GM. Then a placing RNS with notice of a GM. In the grand scheme of whats happening a dilution of 6% is not the end of the world to achieve great things. But dont treat us like mugs! I will be attending the GM and voicing my disgust. I ca n live with the placing but the process has been shocking. The company owe shareholders an apology. I feel this is very important and explain what exactly this is going to enhance. How is Sable going to be improved? Will this increase capacity substantially? If it does then £10M is neither here nor there. They need to give us a proper explanation.

HD, it’s been an emotional couple of days. Pure euphoria at the new deal announced. Then the shock of an accidental (or intentional ) error. However the announcement of a deal that increases the bottom line by circa$30M probably rising to $60M without a hint of metal prices increasing and at absolutely no cost to Jubilee has to drag the share price up! This is just one deal! We suspect many more to come, with chrome and PGM’s expanding at the same time! Roan and the first module close to going live, this is so undervalued, the share price has to go up.

Leon must be fuming Frog, he has released positive after positive RNS and finally gets the share price moving........ then that. Looks like the share price is instantly moving up again. They were adamant no more dilution at the AGM.

Northern, somebody needs to be held accountable here as those emails have temporarily changed sentiment. Frog even sold because of it, along with many others. Still you may be able to buy them back cheaper now Frog!

It couldnt be clearer Bushey, all costs to be reimbursed. Why lie so much?

It is expected that the SPV will acquire the Waste Rock Project through funding provided by IRH and will reimburse Jubilee for all costs incurred directly related to the development of the Waste Rock Project as well as any funding provided towards the acquisition of the Waste Rock Project prior to the implementation of the SPV.

Additionally, IRH will supply the necessary funding to the SPV for the implementation of the Waste Rock Project, contingent upon the approval of the executive committee and the implementation schedule prepared by Jubilee. The funding provided by IRH to the SPV will take the form of a shareholder loan. Repayment by the SPV of the shareholder loan is contingent upon the SPV first achieving a threshold cumulative net earnings with the SPV's repayment of the shareholder loan limited to a maximum percentage of net earnings, ensuring that the majority of earnings are distributed to the equity holders of the SPV.

It was actually Slater who reported the banks were waiting on test results. Interest payments would have to come from current profits not future profits. With no interest payments all current profits can be invested into cash generating modules that Jubilee keep 100% of the profits!

Hell of a deal. With no interest payments, all profits can continue to be invested in more modules. Modules mean cash . Cash means more modules.

Telly, Homey is the best deramper i have ever read. That aside, you must not believe a word he says. He is incredibly clever and disingenous. He just maybe swimming naked ATM!

Absolutely Northern, it has to be noted, this is just one piece of a rapidly growing jigsaw, that it is becoming pretty clear they want at least 50k tonnes per year from that one piece alone. With financial backing 30% plus is a wonderful share in my view. We are now talking telephone numbers, so to get 30% with no funding is the stuff dreams are made of! Especially to get access to all the processing capability IRH have at Mopani alone. I just hope IRH don't buy us out for too cheap a price. I think Slater would want at least 30-40p. Not sure Leon would want to sell out, but it is becoming a concern, because the potential here is huge and it is starting to materialize.

Seis, this is the announcement we were waiting for. The big question now, how far will it go? Not only is this one deal on one dump/ waste heap a literal game changer for us, but is it the tip of an ice berg? Involvement at Chambishi looks very likely indeed. A year ago, i thought it would be States doing the funding, but what a deal this appears to be. Absolutely no upfront costs, with a minimum 30% share of 24kt to 75Kt annual production of copper for many many years! We new this was coming, but this morning i was stunned into silence after reading this. I am only just starting to comprehend what has been disclosed and what this really means. Leon has referred to this dump on several occasions and he told us this was happening fast. But even though i believed it was coming, the pure magnitude of this is overwhelming! Well done Leon and team, this appears to be an incredible deal that changes the fortune of Jubilee considerably. Copper expansion is certainly gathering pace, with Roan and the first module, hopefully close to completion. My question is- just how big does this now become? With the backing of IRH, have we got the key to the universe? Certainly seems like we have the key to Zambia. Very much looking forward to see how Chambishi and the next 6 months unfold. I believe this this deal has now transformed the future and the scope of possibility that Jubilee is going to pursue.

How many billions? at 1.01 min, courtesy of zow 98. https://youtu.be/bKm5KXSTcuQ?si=d6nppIPpeaV_mHIa

That would be great, to help the kids. Makes the investment extra special.

Seis, its very intriguing! I think you are on to something. I definitely feel we will have an interest in 3 refineries at Sable, Mopani and Chambishi. Its not going to be long before serious refining capacity is required and we know Leon is keen to roll this out yesterday. We know the banks are involved from Slater. My guess is to fund Chambishi and a number of modules. Sable is ours, Mopani seems secured and it would appear they have already identified their targets to fill them. Maybe i am just day dreaming, but i think they want to secure the lions share before anyone else gets a sniff!

Charles, i take your point fully and would not disagree with much written. But i would like to add, the virgin rocks are a complete in house solution and were never on the table when most of us bought in. They have only really come to light in very recent times. There is no Glyleach technology used in the processing of rocks. Most of us bought in to the concept of the company, PGM production, chrome production, then the processing of tailings. Now this has been massively expanded by the processing of virgin rocks and completely in house. We have been told there are about 2-3 billion tonnes of tailings on surface at an average grade of 0.3%. We have also been told there are around 1 billion tonnes of rocks at surface, where the grade appears to somewhere between 1 and 2 % on average. If you take an average grade of 1.5%, this makes 1BT of rocks worth about 5BT of tailings. In my view, this has dramatically changed the position here. Rocks alone are a game changer, with Leon stating one dump alone is capable of 25KT per year alone! I appreciate the proof will be in the eating of the pie, but take great comfort in the success of their large scale tests here. This has just up scaled the resource available dramatically.

Plus worth noting , the large scale testing for the rocks has been completed and modules currently in construction.