Member Info for Mikiesunday

Dru, we only need the condenser at project G to come on line and a 1,000 tonnes plus per month is very feasible. I had Feb in my mind from previous communications. But cant be far away in reality.

@ Gray, the delays at Roan have compounded the delays to the waste rock project. Unfortunate knock on and now out of the system. Hopefully they will shortcut build time going forward from experience.

@ HD, i believe Leon wants to go solo on the big waste rock project. He has openly stated they are looking at selling off low grade assets and inferred this could be used for the waste rock project. If they can pull that off, we will be in paradise. Might be a much slower build up of modules, but all ours. He has even said they are teeing up several refineries for the potential processing of said material. Might just be a rouse to improve his negotiating hand with IRH, but im awaiting developments eagerly.

They mean business with that LUFC!

Frog,

Your health is far more important, dont get too stressed.

Seis will be back when he’s ready Frog. He’s vital to moral on here and understands the company more than most if not all, which makes many jealous of him! He may not be ideal for traders but he is the true investors friend.

@Edzi @ Shuvlin.

I fully understand the reaction here today. My initial reaction was poor. I drew all the wrong conclusions, but then i read the RNS several times and realised i was taking it out of context and focusing on several words and only those words. I have done a complete U turn. This just could be the deal that sets us on our way. Leon has promised a new forecast in the next few weeks. This deal is being implemented immediately and will bump up the numbers rapidly, allowing M &G to gradually ramp up. This isnt a far off, jam tomorrow story, its here and now. Whats more, its going to affect this quarter.

I think your right on the chrome front Gray. But still a tidy profit. What’s interesting is the PGM basket price is creeping up. If that keeps creeping, we’re sitting on a small mountain of PGM’s.

Gray, have you put the purchase cost in twice? Their gross margin assumes the purchase cost as well, plus their gross margin has always been based on low throughput. We should see savings in volume.

Morning Gray. The bought in material will buy the time to develop our own material. Plus it will help fund the development of our own material. The more i examine this the better it sounds. Ive done a complete 180. Hating it, to loving it. Value for money for once. Plus its instant. We could actually be underway.

The run rate will be circa 4 monthly.

Ok, we all hate dilution. When i first read this my phone went out the window. I have read twice since and am feeling differently. This is basically the SA model. When you do the numbers its actually ok as long as we repeat with cash. 200k tonnes at 1.6 is 3200 at a 60% recovery rate its 1920 tonnes. If it all goes to sable its worth cicra $18M. After the cost of 2.7m and processing, i would anticipate a profit in excess of $10m. If that money is used to buy the next tranch, like SA , then this will be very rewarding and it starts this week. I can swallow the dilution, only just, but this could lead to some decent numbers second half.

Have you not got X Kalan?

After that tweet, think we can take it as read, Roan is up and running!

We are pleased to report stable electricity supply in Zambia under our new contract. With the country experiencing significant rainfall, hydropower generation is strong, reducing the risk of load shedding and supporting the ramp-up of Roan

I think you have answered your own question Edzi. Jubilee set this up very carefully, with full control of the asset.

HD, would we be better off without IRH? The reduced purchase price has changed the ball game some what. Only circa $11m ( from memory) to pay and some grace before its due. Looking at the post from Northern and the increased earnings about to happen, do we need IRH. Ok we wouldnt be able to put down 4 modules at once. Would probably take a while to get the first, but do we need IRH. Probably not! The advantage of IRH would be rapid progress to 4 modules and substantial earnings. Allowing more growth. Go it alone and its all ours, but will take a lot longer. Maybe Leon is looking for a smaller 25% partner. Its becoming clear, they want to renegotiate the deal.

Great news the power is back on. Even better news it was extremely timely and within stated time scales! We really are seeing a new Jubilee. Problem reported and sorted.

Lets hope this really is our time now. Been waiting for a few years now. Seen a few false dawns, but i do feel now is our time. Copper demand will increase substantially under Trump. Business will flourish and invest. But they wont invest in old technology, they will invest in new.

China are getting their act together. Its even raining in Zambia.

Let the good news keep flowing. Keep punching Leon.

Yep, agree with your thoughts Seis. My understanding suggest the Glycine is still in the development stage and its standard acid being used. Just much more efficiently. The real question is how much cheaper is this going to be per tonne of copper?

There’s more chance of our key employees being poached, than there is of a take over. Thats why as much as we dislike the options, they are key.

I agree HD, we hit 25kt production and the share price here will be flying on future potential. But not only future potential, the earnings will be there to help back it up. Slater see the potential, not a penny gain. They are long term backers of businesses with extreme potential.

Happy either way Seis. 40% give away of potentially another 120k oz per annum is a big figure if the basket recovers to $1700! To just take the 60% is also very nice. I guess a lot will come down to sustainability of basket price.