Member Info for nevertogiveup

It is disgrace to blame South Africa's invironment for something which is not true.

In Zambia infrustracture is very poor.... Inflation Rate 13%, corporate tax 30%, Interest Rate 14.5%,

In South Africa infrustracture best on African continent ... inflation rate 3%, Interest Rate 7%, corporate tax 27%

I hope if sale go through office of Jubilee in Centurion [South Africa]will be vocated immediatly to save some money.

Kalan ...only generating cash business is Roan but we still have to buy copper ore for that to produce some.

Munkoyo haven't got high grade ore for Sable ... for how long now? ... we drilling there now to find it ... are we going to find it???

Glim picture in Zambia now please believe me ... read previous RNS as well ...

This is desperate sale to get some money to carry on with exploration and pay for any kind of small growth.

Sa pgm business is generating enough cash now to pay for any debts.... we could buy less chrome as we have enough feedstock to produce Pgms in Inyoni.

The best option for JLP was and still is to list SA business and Zambia's copper separately, then recapitalise both. Then option will be to take over - merge SA business with current buyer One Chrome Ltd.

Both company's of value approximately 2p each could give greater prospects for growth. Instead we will be single commodity producer with CEO why already wasted millions of dollars on his own games [buying & selling] with no profits for shareholders.

Next within month or two 60 million 1p options will be exercised and bonuses paid to Management and BOD.

Circular is made up with extracts from RNS's and figures are added to make it convincing ....

They rubbished PGM operation, mention 3 times Tjate as the future project [which is big no go for anybody]

Proceeds to pay for everything in Zambia, at least 5 years to receive payment [and not full]

Munkoyo ... no high grade ore any more [doing exploration now to find it. Claiming 9 open pits ... lol ... please publish pictures!!!!

Project G ... will do exploration [drilling, etc] for next 12 month....

Reality is very dim for Jlp

Looks to me One Chrome is a misterious company with no records ???

What Q's ... please ask again Seis

The problem with project "M" & "G" are as follows ... we don't know exactly how much of copper ore reserves we have there and where is high grade copper situated ... and that was a mistake in the first place.

Now in Munkoyo we are doing stop and start excavation, because we are drilling exploration holes to look for high grade reefs for Sable. We need to drill there at least 50 holes to delineate ore reserves before we design opencast pits for mining.

Project "G" is on the backburner for later ... regardless if we digging there or not. Exploration is an expensive business and time consuming. JLP should have done that before, instead they opted for artisanal mining which is not professional to do.

Future exploration should be done according to the book with exploration drilling followed by feasibility study and then designing mining method ... but chemical engineers are always more clever to screw it up ... lol

Happydays

Agree with you 100%

There should be no doubt in anybody's mind that the sale of SA business is a "fire" sale. Without extra funds or huge daliution Zambia's business was going nowhere. Slater and other II's were convinced to give support for this already done deal. Now is the matter to hear what it all entails.... details should be interesting.

To me most important is the issue of pgm unprocessed feedstock waiting to be monetized. Who is going to benefit from that???

Issue of Tjate is a dirty trick they might use in "circular" again, but everybody should notice that it is unexplored bare ground with no value at present, unless proper exploration could be done. It would take at least 3 years to do exploration [drilling & sampling], with huge cost to drill dozens of exploration holes to the depth of 600 - 1200 meters, then another few years to do feasibility study if exploration shows adequate values in the intersected reef. Then to build the mine with vertical shafts will take 4 years with cost of few billion dollars. Not even major South African mining companies or Chinese were or are interested to do that [too expensive to even start].

There are better places in South Africa to explore for pgms at the moment. So the Tjate issue is a smoke screen for naive listeners. The ex Chair went even to China in desperation to sell it with no avail. ... lol.

JORC report for Munkoyo only in 4 - 6 months? Project "G" - one year possibly after drilling???

Large Waste Dump ... are we still getting paid monthly by misterious company for 10 million tons of waste rocks or tailings being processed as per agreement? ... what is the progress of that???

What is the new $18 million sale of non - core assets all about? ... is payment also staggered over 20 months??? Every agreement or project of JLP is covered with NDA [non disclosure agreement] with no info on specific timeline, cost or finance. What tailings are still accounted for by JLP? ... in what area situated and what is estimated tonnage of it [excluded from Large Waste Dump] ...???

Who is going to supply water and electricity to the Large Waste Dump project? How much it will cost including all infrastracture required, roads, etc....???

What happened to $10 million allocated previously for the upgrade of Sable???

Are we making profit in Zambia now on a monthly basis??? ... we will never really know? It will take another 3 years for JLP to make meaningful steady profit in Zambia ... if they are lucky .... new additional challenges in near future ... election in Zambia next year, risk of flooding in areas of open pin mining after a few years of drought highly possible.

I haven't got any agenda here, just asking for transparency and accountability from Management and not to creat again unreasonable expectations.

N/B .... I can assume that "circular" will mostly be written to downgrade chrome and pgm business in South Africa and nothing much more will be said about Zambia.

LOTS OF QUESTION MARKS ..... lol.

It is self enrichment company with good salaries for everyone including sleeping BOD... and 20 million 1p options for CEO ...

It is difficult to even complain how bipolar people can twist other people's perception for so long .... it is disgrace.

There is bird hovering around Zambia and waiting to strike, but so far NDA preventing any whispering about it, including circular. It is not good.

Selling PGM operation at a bargain basement price will be corporate suicide for Jlp.

Leon must go!!!

Maybe we can assume ... "No deal" ... copper on Comex falling further to $4.38 per lbs, on LME is steady $9700, per ton. If Leon and FD decide to postpone the deal they might be pronounced heroes .... lol.

Rhodium price stays still $7450 per ounce ... platinum and paladium price dropped but not as much as copper on COMEX in USA

In mean time Rodium price is going balistic ...

Invest in ... ETFRHO .... on JSE at least

What if KoBold decides to buy whole Jubilee metals company for $250 millions??

They are buying lithium mine in DRC now as well, and in Zambia not far to become major producer of copper.

Why JLP is so desperate to sell SA assets??

Who is behind this desperate sale??

JLP CEO wants to buy more mines in Zambia and appoint contractor to do mining ... that was spelled in the interviews. What mines they want to buy? Mines near Sable and ROAN ... it make sense .... BUT why they are so hasty? ... because they got already Non Disclosure Agreement with GLR to be part of Luansobe project?, and now they are pushed to go into joint venture with them....

So who is behind all of that? ... you gues ... ex ... ex Chair...? Break fee was already paid? GlR / Luansobe is stragling to sell anything to anybody but JLP might be willing buyer...? It will not be good deal ... lots of money might be wasted again ... low grade ore?... distance bit too far... mining cost again?.... but the deal is ready to be signed.... waiting for other deal to be aproved.

It would be much better to fully develope Munkoyo and project G to have enough high grade Cu ore for Sable. When Sable is expanded/upgraded to 14K capacity invite any miners to bring suitable, high grade ore to Sable for processing to cathode copper directly ... rather pay for good ore and save money ... and get proper cathode copper out.

It is all about cost saving and not to expand to different operations without proper feasibility study and necessity to establish new infrastracture [water, power, roads, etc]

Circular will be published end of this month .... most probably about 80 pages ... then shareholders will be asked to vote yes or no. 7 weeks will be given to make decision at General Meeting.

Besides Circular Chairman of the BOD will present letter which will outline position of Company regarding sale of SA operations.

So far it looks like it is done deal as company obtain support for "sale" from Institiutional Investors before they announce that in RNS.

Otherwise they wouldn't announce that ... common sense.

If there is some decent respect for private investors Institutional Investors should change their minds and vote against the deal.

Nominated Advisers of company should also raise their voice against the deal .... Jubilee Management will become laughing stock if this deal will be approved.

If Jubilee could produce copper as promissed over last 4 years it would be better to expand copper production now.

To sale pgm & chrome business now is more than ridiculous with prices of pgm metals going through the roof.

Copper price on LME is only $9660 at present... yes it might go up but no guarantee for that ... nothing go in straight line up. Copper is in demand but it might be in oversupply year or two time due to slow economic growth etc.

PGMs are RARE metals ... 20 times more RARE that gold and with new innovations and applications pgms will always be in demand.

So let's keep both productions of copper and pgms as both will be profitable now and in the future. As an example have a look at Silvania how their share price is performing...