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Just quickly looked at April Zambia RNS and it states they were targeting 150 tonnes of copper from long term ROM agreement from June. So that’s 900 tonnes over 6 months. Same RNS states they were targeting an additional 240 copper units from Roan. If correct and the plan didn’t change could be another 1500 tonnes. Together would make a noteworthy contribution. Let’s keep our fingers crossed.

No idea HD, just remember they signed a ROM agreement early summer and had the inherited stock pile with Sable. I don’t think the inherited pile was that big but came as a bonus with Sable. Can only guess the long term plan here was 4kt per year as Roan is 10kt per year and total capacity is 14kt per year. Would be a very nice bonus if Sable has been chugging away.

HD, from memory I believe they picked up a ROM contract that could have started around July time last year. There was an RNS with details early summer. Roan is using 10kt capacity and Sable has 14kt capacity. My guess is the spare capacity is intended for ROM and the inherited tailings pile at Sable.

Plus P11D benefit only 2% of value as opposed to circa 28% on a BMW 2 litre diesel. Massive tax incentive for company cars.

Some great posts this morning Sharky, particularly like $12k copper within 12 months. Would increase our profits by about 50 percent from $9,500 copper! The copper timing is impeccable.

Looks like copper making an assault on $10k per tonne.

Still no stopping Rhodium. $17,650 per Oz and climbing. https://www.metalsdaily.com/live-prices/pgms/. Basket price motoring again, with the 6 monthly report out imminently, we may really get a feel for what Jubes has now got under the bonnet after 6 -12 months of Inyoni and Roan being supercharged. Copper looking good around $9,600 per tonne, with meaningful production now underway. Cobalt set to join the party at the end of the year in a big way at $70,165 per tonne. ( don’t forget to turn your phone sideways as you will not fit the number in! ). https://www.lme.com/en/Metals/EV/LME-Cobalt#Trading+day+summary Rather curiously Chrome is interesting me the most. Despite expecting PGMs, copper and cobalt to all contribute well over $100 MILLION Each shortly, I am fascinated to see how many millions we are looking at from chrome. The share price is looking so unbelievably skinny, this opportunity may not be around for much longer.

Yes kind of ironic timing Moneyman. Re-assures me the share price is going to increase.

Bobbill, I think you are spot on. There is an intimate knowledge of Jubes used, that would have been gained from years of intimately following and discussing Jubilee. PH was responsible for my initial interest in Jubilee. His arguments for investing were compelling and he was so right. He defended the company heartedly and promoted at every opportunity. Just when the company was set to take off he turned tails. I could never understand this, all those years of promoting and defending gone, just when the company was about to re rate. The rest is history. Still im very grateful I may not have given the company a second look had it not been for his posts! I do feel the share price is at another cross roads Looking left and right very carefully before zooming ahead again. Get back in now before it goes again!

Haven’t felt this excited about Jubes in a while. The thought of the basket price going up drastically and imminently certainly brings a feeling of nervous excitement! A basket price of $3,000 with costs of $500 allowing 10% for smelting means 55k oz per year from Inyoni alone will be worth a staggering $124M per year in earnings. That’s $10 Million per month!! Add on some for the Windsor overflow, add on some chrome and our South African earnings are looking very tasty. The potential to underpin lots of growth. But whilst the rhodium is soaring, the copper is starting to flow. As Leon stated the copper earnings will fund the copper and cobalt growth, leaving the South African earnings to fund…….. the next project. Eastern limb anyone?

Rhodium up 20.57% since the beginning of the year and forecast to be $22,725 per Oz by the end of this quarter and $27,181 per Oz in 12 months! Who just secured a shed load of Rhodium rich feed! Leon did!! Looks like all estimates for this year may have to be drastically recalculated upwards. What a great start to 2022. https://tradingeconomics.com/commodity/rhodium

Afternoon Sumo. I think you are definitely right in that there is no value in the share price for copper yet. Copper & cobalt will revalue this share price many times over, but we don’t really know what our new chrome production is now going to be worth, but we do know the margin has nearly doubled and production has scaled up drastically. We also know after 4 or 5 months worth of disruptions And expansions Leon is expecting our PGM production to equal last years, playing catch up in the second half, with growth expected next year. Our first indication of that growth may be knowledge of what was produced in December. We know Inyoni started ramping up in October so may be near full production by December. I don’t think the market has appreciated the increased margin in chrome yet exaggerated by the increased production or the potential increases in PGM production hopefully now in full swing.

Whilst I appreciate, the most important element of chrome production is the PGM rich discard produced. I rather interestingly note from Leon &co’s latest presentation that the margin for chrome has gone up from 5% to 9%. A substantial increase in margin coupled with an even more substantial increase in chrome production could actually result in a meaningful financial contribution from chrome. I also believe chrome prices have been slowly creeping up. I had mentally written chrome off as a direct contributor of financial substance, but am beginning to think I’ve got this wrong and am eagerly awaiting the 6 monthly production report to see the direct impact of chrome. Not only this I’m hoping they break down the production figures so we can see what was produced in December by Inyoni and Windsor, which will hopefully give us a really good steer on future production. Last year the report was released on the 14th Jan. Lots to look forward to.

Dorf, it was a very long presentation, which Leon stated was aimed at new investors as well as old timers. I think a lot of people switched off with some of the basics, but some really powerful stuff in there. This may have caught a few people out, possibly disinvested expecting a price drop. I fully expect that presentation to start a bull run, May need the 6 monthly as well, but the copper and cobalt possibilities are tantalising. Won’t be long before all growth is self funded.
Northern, I think CB, whilst very sad to be going was a joint decision. He is nearly 80 and the Jubilee job is about to explode out of all proportion. I remember him speaking to Zac on an interview, when he dropped the half billion tailings hint. He covered the issue then snd said he was happy to go on but basically new it was coming to an end. He has been a great servant to the cause and will always be able to say he got that behemoth well on its way. He dug the foundations. I have nothing but admiration for the man, but I look forward to the future with great optimism and expect a real heavyweight to be appointed.

Sais, got to be very dangerous going short here! Massive growth period about to begin again! Recovery in PGMs very likely! Massive upgrades just undertaken at Inyoni! Massive increase in PGM rich material from new chrome plants! Inyoni and Windsor chugging away! Super fast copper production ( 18 months from from first notification) about to escalate dramatically! December figures in the 6 monthly report due very shortly May just get this motoring again. What was produced in December will give a good guide going forwards.

I always believed Cobalt would be a game changer again, but receiving confirmation from LC, they have cracked Cobalt production and is likely to be the companies biggest earner is such a massive new revelation . But what does this mean? If you take the original target for copper of 25kt @ $5,000 ( after costs), this has to be greater than $125 Million earnings! But we know things have moved on. The latest broker note suggests doubling the capacity at the new northern facility to 34kt and leaving Sable at 14kt gives a whopping 48 kt per annum. Again copper production @ $5,000 is a considerable $240M per annum, so is Cobalt likely to be $250-$300 Million per annum! These numbers are mind boggling, in the very near future and sustainable over the long term and we have confirmation from Leon Cobalt production is real and likely to be our biggest producer. Happy New year everyone.

You are so right Sharegar, that was an excellent presentation today, with so much info put out on public display. I have only had the chance to watch once, but am very much looking forward to a second screening later tonight, that is a great spot. I recall being very impressed with a water installation as well. Not a massive gesture but will improve the lives of many locals.

Absolutely BB2, it’s going to be very interesting to see what Inyoni is actually capable of and our second big hint may be in the operational report due very shortly. Plus Inyoni is so much more valuable than Windsor with no 40% pay away, which will certainly cushion the drop in The PGM basket, relative to last year.

Edzi, I often tell my youngest daughter it’s very rude to call someone stupid!! She’s relatively young and doesn’t know any better.

Absolutely fascinating! Talking to many huge prospects in Zambia now! They have cracked Cobalt and it is going to be bigger than copper!! The board about to make a decision on the Eastern Limb. Do the numbers chrome+ PGMs +copper+cobalt! This is going off the scale and they are so hungry to dominate the world. That was rocking Son of Elvis!!!!