Member Info for NorthernShark

A new investor presentation would be nice as been a long time since the last one...

Northern

More material secured - looks like either Inyoni or another plant to expand PGM production even further.

My focus had been on another copper deal but the expansion of PGM activities is most welcome!

Lots of talk about dividends or share buybacks but I would much rather Jubes keep adding to their project base to diversify risk and create bigger returns for shareholders in the longer term.

Northern

Graham, I would be very surprised if this is not weighted substantially in JLP favour. We have heard many times that JLP walk away from deals if they are not right - too many opportunities to do bad ones and Leon over the years has honed his skills in this area.

Key takeaways for me are the two chrome plants complete and nearly complete - on time and demonstrates JLP capacity to move quickly and deliver on time.

Ray,
I work in the industry and all people want to talk about is electrification.

Over 300 councils have declared a climate emergency and need to electrify quickly to meet commitments.

EV salary sacrifice schemes are being implemented rapidly to offer all employees tax efficient access to an EV.

The real kicker is that Ford has just said it is releasing an electric F150 in the US (currently the best selling vehicle in the US).

The future is very bright for any materials associated with electrification and none more so than copper!

Northern

Ray,
I would expect there are many many irons in the fire.

One thing I would like to see is the Sable processing to commence and clear up the horrendous legacy lead issues. This would buy a lot of kudos with the Zambian people and more broadly.

Northern

Good spot Jammer!

One thing which hasn't really been talked about but must be making a big impact is the multiplier effect.

As metals prices have increased it obviously does wonders for the bottom line but also and most importantly the cashflow.

This increase in cash provides the opportunity to fund new projects or bring projects to fruition faster. For the Zambian timelines for example this could bring forward Elephant or even develop both Elephants at the same time. This brings forward more cash which similarly provides the opportunity to develop other projects...

With this in mind the earnings profile should follow a hockey stick profile as cash to fund the developments is not the critical factor any more as it has been in the past.

The future is bright,
Northern

Absolutely spot on Dore - Rhodium a major factor in the price move.

Seems like we ramped up production in PGM's as the price strengthened and have done the same with copper.

Colin and Leon may have a working crystal ball!

April was $3,024 and the previous quarters Jan-Mar $2,546 Oct-Dec $1,876 Jul-Sep $1,553 according to Johnson Matthey average daily prices and the PGM Split from the comprehensive broker note last year.

Northern

Speak of the devil - Colin himself...

https://www.proactiveinvestors.co.uk/companies/news/948727/galileo-resources-presents-drilling-plans-at-kalahari-copper-belt-in-western-botswana-948727.html

15:57 - "we are up to 1/2bn tonnes of tailings" (Where has the other 200mt come from?)
Copper is growing month on month
Cyprus - 2 dumps with 6mt each - must be the focus

Some good snippits

Hard to tell - I keep making targets and they keep getting hit earlier than anticipated.

This could go anywhere with the addition of a couple more deals and the more they prove the tech works the more opportunities will present themselves.

My gut feel would be something big in Zambia given they have good ties with the government & spare refining capacity plus maybe the BHP Leinster Nickel Tailings deal which was looked at a while back.

Can't wait to see how this plays out, I really can't

1pm release on a Thursday has been done a few times before...

New deal or quarterlies or both hopefully...

Dorfan, good thing is it has allowed those of us who have done some research to benefit and long may it continue. I still think Leon has something up his sleeve as there has been radio silence.

They do like a Thursday RNS...

Lazy, uninformed journalism.

Mikie won't be happy as there is no mention of Elephants...

Interesting we haven't seen Leon on any media post the confirmation of Roan and now Cyprus.

Quarterly operations update this week as well?

Something else?

JLPositive - I think it demonstrates just how big Roan & the two Elephants are.

This as a standalone could be bigger than Roan which could do 10k copper cathode a year. Seems to be high grade resources and could establish a processing hub to bring on other deposits in Cyprus. If we add 10k copper plus gold then could be very valuable especially as we should be able to mobilise this in relatively short order.

I would however like JLP opinion on this so I can clarify my thinking.

Northern

Nelson, I would think this would happen fairly quickly. Some of the resources will be well defined in terms of size and grade. Similar to Zambia I would expect a central processing site which draws upon the various smaller deposits as the mining areas in Cyprus are relatively close together.
I would think Jubes will cherry pick the higher grades first and work from there but 18m tonnes is a decent size resource to go at and once a presence is established then other deposits outside of Caerus could be added.
I like the deal but will take some time to see what this means in terms of revenue and investment required.
The CEO at Caerus seems very positive (Zak Mir Interview) and would be nice to hear from Leon in terms of his thoughts on the impact for Jubilee baring in mind they have said they will be very picky in terms of the deals they do i.e. likely to be very profitable for Jubes.

Nice to see a move into a stable country. Size wise looks broadly double the size of Roan albeit across a few locations.
The addition of gold to the portfolio adds further diversification.

All in all proves the JLP value proposition is expandable across different locations... roll on Australia and/or Chile!

Updated broker note from WHI on the JLP website.

Looking at 3k copper cathode for this FY rising to 13k next year and 22k the year after which pretty much mirrored my estimates from what we have been told.

Just need the latest quarterly report now Leon / Colin...

LJS

https://www.marketscreener.com/business-leaders/Pedja-Kovacevic-0N3PXJ-E/biography/

Wasn't formally announced but remember seeing a CFO popping up in one of the reports so looks like the area is taken more seriously now.

Northern