Member Info for plumbus

Jubilee is pleased to announce that the Company has successfully facilitated the placement of all Jubilee shares held by BMR Group PLC ("BMR") with a large institutional investment fund. BMR no longer has an interest in the ordinary share capital of Jubilee. This relates to the 2018 transaction whereby Jubilee acquired 29.01% of BMR as announced on 15 January 2018. The acquisition consideration at the time was satisfied through a combination of cash and the issue of new Jubilee shares.

I doubt that CB would have raised in the recent placing if offtake at a reasonable figure was at all in doubt and the mine viable. He's a foot in each camp if he doesn't know who does? Colin has said that the value of the Ag and Ge is enough to cover the cost of the Star mining operation itself. Theres is a lot of potential here for both sides.

JLP's acid leach process has probably been optimised using 1:1 tailings: Star in which case it would be stupid for JLP to threaten not to take Star material now. This is a mutually beneficial business proposition

Visitor, don't think it's clear that the only JORC compliant material is just the wash plant tailings that you quote, that is just one of the richer of the tailing streams. But even so all the tailings at Kabwe have to be cleared over time so it will need blending with the GLR material at some point and as I and MM have said process operability is improved with the Star material. Longer term Sable needs feedstock other than tailings to continue.

It depends on the process operability too, the higher grade ore from Star (won't they be targeting at least initially grades of ore >> 10%) will probably improve the overall efficiency of the process and optimise acid use. Long term Sable is not a goer on the tailings input only it will need new material from the two GLR mines or from reopening the Kabwe mine for feedstock. Recovery of the Ge and Ag from Star may also be profitable and V is present in the Katishu ore. I can't see why a take off agreement which is mutually beneficial can't be arrived at or just make GLR an offer.

Yes sorry that was the just the leach plant tailings, the total tailings are as follows:
Grand total 6,393,847 tonnes 5.48% Zn 5.50%Pb 356,843 MT Zn 351,386 MT Pb
Well below your 18% Pb and Zn though.

The measured leach plant tailings resources at Kabwe are estimated to be 2.65 million dry tonnes containing 102,690t of zinc and 230,810t of lead grading 3.88% Zn and 8.71% Pb.

The relationship may be looked on as incestuous but without JLP Star is isolated and has nowhere to go. Colins foot in both camps may stop JLP beating the cost of processing the ore down to subsistence rates. Some discussion on ore processing must have been agreed with JLP before Colin plumped for buying Star in the first place - where else did he think the ore was going?

The Sable plant will only be processing Zn initially so a richer stream of Zn only ore from Star would obviously be more beneficial to JLP than the lead containing tailings from Kabwe. The latter would presumably produce a Pb/V byproduct for later processing; if that can be reduced it would improve operability?

Thanks, that's what I thought so can't understand why Barclays why have the next xd in Sept rather than tomorrow? Not selling today so not too worried.

TBTT, CB said that JLP were contractually obliged to take Star zinc ore, and are keen to do so.

Are we xd now, my Barclays account is showing my GLEN holding's next xd date to be in September?

Morning TBTT, all still open to negotiation I'd guess, if JLP were getting sufficient discount on the Ge and Ag they may well accept the Star ore on the basis of storing (the stream containing the Ag and Ge) for recovery later, I don't know the process or what volumes are involved. Think it's the other way round as to where capital is required? My understanding was that Star was ready to go barring the licence and protocols, whereas it was Katishu that required further capital for drilling? I'll have to back to check on that.

GLR's ore from Star contains Ge and Ag for which GLR are expecting $70 per tonne credit from JLP, that will effectively pay for GLR's operating costs there. The ore from Katishu does contain V.

CB certainly setting up shop now in Zambia with BZT, GLR and JLP all present. A one stop shop for all your metals and tailings recovery.

https://www.youtube.com/watch?v=4WSBiztwnrE&feature=youtu.be

Cheers and thanks again.

If it's as good as it sounds.....
Thanks for that MM very informative. Still confused about the ore types from each site though, is the ore principally silicate from Star as well as Katishu or is Star something other (sulphide) also Colin suggested that silicate treatment was more complex (pressure or low pressure/high temp required) - is this something within JLP's competency?

Colin also mentioned that the cost of operation at Star could be paid for entirely by recovery of Ag and Ge in the ore thus getting the Zn for free. Anyone any idea if this would be possible in the same time frame as first Zn recovery? He also said that the Katishu ore had worthwhile recoverable V.

Apologies Hawkey missed your earlier post. Some are more Hawkeye than others it seems.