Member Info for NorthernShark

Its the first time (as far as I can recall) he has acknoledged the delays so I guess its an improvement in that sense!

Bobbin, the resrouce estimate is in progress. I would hope we get the position in the coming weeks. Suffice to say it is a very large property with a very large amount of waste.

Cour - the top of the chart is only Roan. You can extrapolate the production from Molefe.

Probably worthwhile reading the report again!

Total saleable Cu units produced 1543 but note: Includes Cu cathode produced at Sable Refinery and Cu sulphide concentrate produced at Roan and excludes all Cu units in oxide concentrate fines stockpiled at Roan.

Therefore there are 482t in fines which will be processed when the dewatering facility is up and running which will be then sent to Sable for refining into Cathode. Hence they called it a bottleneck. How much can the ponds hold is a question. Adding nearly 500t to the 1543 and we are on track for guidance which remains unchanged.

Molefe drilling results confirmed what they were expecting - tick and look forward to these coming out to show the value of what we have in the ground. Nice also to see the processing plant is scheduled for March. Only downside was the ramp up was slightly delayed due to infrastructure damage in the area - something they can look at making more robust for the next rainy season.

LWP moving forward. Frustrating it has taken so long but its crucial for a project of this scale we get the right commercial deal for the long term.

Don't know why all the doom and gloom as it looks like its moving forward in a measured manner

ATB Northern

HD, I am sure you will get an update on that when there is an RNS. Nobody knows whats going on in the background. Suggest you send JMK an e-mail if you have specific questions as he seems to answer judging by the comments by those who have contacted him.

ATB Northern

Exactly HD - nobody knows so they are filling in gaps with whatever suits their narrative. Wait until an RNS is released!

Kalan, not started drilling yet - in the new location! Given it is now on location then drilling will commence or else no point moving the equipment otherwise.

We know that previously holes have been drilled. The "delay" could be a day, a week or a month but no doubt some people will make up whatever suits their agenda. Its what they find which is important!

I would also add we have some significant assets which need to be considered as part of any share price assessment. The LWP by itself covers the share price let alone, M, G, Zinc tailings, Copper tailings, plant, equipment and the cash coming from the sale of SA!

The good news is the centrifuge should be being installed as we speak so the backlog clearing and ramp up should be in progress shortly

Chat, you can have your investment strategy and others will have theirs.

I personally do not have JLP as ultra high risk as the value of the cash incoming from the sale of SA, plant and equipment, and owned assets (in a prime copper location - Zambia) is more than supportive of the current share price (extrapolate out the LWP value if they just sold the material for example).

If the share price was double where it is now then obviously that risk profile changes.

Kalan - forgive me but I haven't seen a date when they stated they would release results - so how can they be "late". As you have stated you sold out I can only think you are trying to sow doubt so you can get back in at a lower price.

ATB Northern

There is a scramble on for near term copper projects and should be attractive especially as it is close to surface

Cold - I think that statement could be true of any business!

Thanks Nat, thats probably the best written evaluation of where JLP is at I have read. Only thing it was missing was the sheer scale of the LWP opportunity!

Rains easing in Zambia now so should see progress on a lot of fronts in the coming weeks and months.

Personally I am very keen to see the results of the GLR drilling at M (which should be available shortly) then the aerial survey of the 25k hectares!

ATB Northern

Release from Implats today. Relevance is it suggests JLP will have had very good PGM earnings prior to the sale and adds firepower in case they want to purchase additional land around existing operations (Tjate potentially).

Shareholders are advised that due to the significant appreciation in achieved US dollar platinum group metal (PGM) basket pricing, together with the benefit of commendable operational delivery, the Group expects to report an improvement in both basic and headline earnings for the period compared to the

six months ended 31 December 2024 ("the comparative period").

Implats' headline earnings and headline earnings per share ("HEPS") are expected to increase by between 392% and 411% and basic earnings and basic earnings per share ("EPS") are expected to increase by between 387% and 407%. Both headline and basic earnings are expected to be between R9.10 billion and R9.45 billion, and HEPS and EPS to be between 1 015 cents and 1 054 cents per share, respectively.

Cooperlemon have Jubilee as a client on their website - and Rio and Anglo

They are potentially wrapping it all into an operational update which would be more comprehensive and take time to compile. I would hope this is next week as they will be at Indaba the week after.

Seis, could be the case but the wording is somewhat confusing and suggests two phases?

From the website: "The Large Waste Project is undergoing further upgrades to its resource definition to improve the targeted ore reclamation mine design as well as the initial ore reclamation zone of the vast rock dump area. The recent trade of material provided data generated from in-house test work which enhanced information available from the material"

Am I reading this correctly there is potential for a mine at the LWP as well as the initial dump?

ATB Northern

LUFC, completely agree in terms of the assets which have been accumulated. If you look at the value increase from when the transactions took place then JLP timing could be viewed as very astute. The LWP alone based on the previous transaction is worth roughly $500m. In addition there are the tailings dumps with circa 500k contained copper, Mufulira (44k Cobalt and 89k Copper) plus Molefe and Project G. Then there is the refinery at Sable and Roan, Tjate and cash from sale of SA.

So on an asset only basis we look undervalued in my opinion!

ATB Northern

Might need to partner with a big mining house on Greater M if the ground proves as good as they think it is?