Member Info for NoExcuses

Happy, the copper module strategy is based on the chrome model in SA and Jubilee’s track record is pretty good in that regard. Not long to wait.

Happy, this is the reply I got from Jubilee a few weeks back:

Construction work for the pre-assembly of the major processing units before shipment to Zambia, will be completed in October with testing of this equipment scheduled for November before being shipped to Zambia for reassembly at Roan and final commissioning.

No, Jubilee Metals Kabwe license is not suspended. The mining license for the Kabwe project in Zambia was reinstated with immediate effect by the Minister of Mines and Mineral Development in April 2018. The license was previously terminated in February 2018, but Jubilee Metals Group and its joint venture partner BMR Group appealed the decision and worked to resolve the issue. The license was also extended for another ten years in September 2020.

These are the facts as far as I am aware. BT if you know otherwise please post your evidence and source.

BT, that is a ridiculous comment. £45M is not a small amount even for Slater . Slater is no fool and I can assure you he doesn't like losing money. Veddis Capital (Vikrant Bhargava) now owns 148M shares - he too recently bought and is no mug either. He is worth @£850M !

Heroric, the information about the warrants are published in the latest AR and are in the public domain. If you are a serious investor you need to read the RNSs issued by the company and take a view accordingly. There is little point in complaining about the info posted on a bulletin board (which is not regulated and unofficial). There are some very knowledgeable posters on here but equally some who are very ill informed. Best to stick to RNSs issued by the company. I'm sure you know all this.

Hi Cavey, I think someone on here ran the numbers on a share buy back which showed it would not be a good use of cash at this stage in Jubilee's development. However, I agree that a small buy back could show positive intent and help with sentiment.

Hi dorfan, your frustration is understandable. I think with your background and experience you should definitely speak to the board (Leon in particular) and get the message across that it is time for delivery and no more excuses!

NCK, email the company (try Waltie van Rensburg who usually replies) about this clear anomaly. I spotted this too and will also email them.

Untrue.

Taken from the 2022 AR:

The first of these concentrator facilities, Project Roan, was

completed towards the end of the financial year under review. It

is capable of processing both ROM copper ore as well as tailings,

to produce copper concentrates at a rate of approximately 10 000

tonnes of contained copper per annum, for refining at Sable,

which complements the existing supply of third-party feed to Sable

refinery (2 000 tonnes of copper per annum).

BT, that is because there is no big deal in shares changing hands or being moved around (probably from fund to fund). Those sales btw were bought and the price fell a fraction, hardly enough to get your knickers in a twist about. But I guess you’d like to make s story out of anything to suit your agenda.

Butter, the PGM target was 38K but they comfortably beat that (42,474). The target has now been raised to 42K (which I imagine they will comfortably beat again). Get it now?

Absolute rubbish BT. We are on the cusp of huge growth here. The dilution so far has paid off and will continue to pay off handsomely. It was not that long ago this company was a tiddler but its development since has been nothing short of spectacular.

Dorfan, have you emailed the company about this? You might be able to influence them given your background and experience. I have also recently written to them about their comms which they have acknowledged and said they would work on improving.

I agree Jonah, if an equity issue forms part of a debt package I would support it too. There is nothing wrong with share issues if they are earnings accretive. BT is trying to scaremonger with his ‘placing’ comment. Serious investors know that growing companies can use share issues to grow earnings. Many very successful companies have done this as they develop.

Buttermilk, not sure where you are getting your info from but Jubilee is very much focused on the huge opportunities in Zambia. The last few RNSs and presentations confirm this as do the appointments of the CFO (ex-Mopani) and the Energy Head (artisanal mining experience). The company has invested a lot of time and effort in Zambia and are streets ahead (front runner) in innovative processing of tailings and ROM material. They also have fantastic ESG credentials (cleaning up waste etc). This is a dream company to invest in and if you can wait a short while there is a great chance your investment will be very well rewarded. Rome was not built in a year!

Thanks ChesterGreen, it has never been clear to me on the Chambishi link but I think there is a good possibility that Jubilee are talking to ERG about Chambishi. I’m also not losing hope on the possibility of a Mopani deal just yet (given the binding MOU signed by Jubilee and Mopani).

Thanks Happy, all good points!

Happy, I would also hope that Jubilee gets a piece of the pie - but what is you rationale for a Sibanye/Jubilee link up on Mopani? Thanks

OM, I agree. But I think Leon has accepted his mistake and he will put it right. Recent RNSs show that they are now going in the right direction.

Thanks, gotreal, I agree and hence why I think the copper guidance given now for FY2024 will be comfortably beaten.