Member Info for SeisNav

Thats totally unrealistic unless the PGM basket significantly recovers again. Rhodium has been in steady decline from a peak of over US$12,000 / oz to just over US$8,000 / oz right now. How much further will it fall? If it drops back to its previous level of less than US$5,000 before the rise you could be looking at a SP in the high 70's. I bailed out as soon as I saw rhodium dropping, thankfully at about breakeven.

Holleraa, get with the program. PC is no longer running the company, the MD is running the company. It's just lazy and shows you really haven't a clue what's going on here.

Might I suggest reading the 6th May RNS Sumo?

"Molefe Presentation

Company intends to host a presentation on the Molefe Mine during June 2026. The timing reflects ongoing work at site, where our JV partner is currently reviewing the next phase of stripping and future mining strategy. This review, incorporating the results from the initial drilling programme and the completed portion of the second phase, is expected to conclude within the coming weeks, allowing the Company to present a clear and aligned development plan."

There now... it wasn't that hard was it?

They were just restating the JORC compliant exploration target which was RNS'd in March, it's nothing new and there's nothing to suggest they have started drilling. I'm sure when they start it will be RNS'd.

I think you've got that backwards, the share price is based on the company performance, not the other way around. If you read my post and still can't appreciate how they ended up in that position and how they have managed to build a new portfolio of projects in Zambia.... well I guess there's no point in arguing the toss with you. Believe me there are many worse characters on AIM who are just running a lifestyle company. This company has made economic discoveries not once but twice so far. Remember it was PC who picked Mushima North as a target and it has proved to be a very good investment.

What's a red flag? If they want to issue shares to this potential new investor they don't want to have to first offer them to current shareholders first! That would defeat the purpose.

It's not 15%, it's 7.5%. The "disapply pre-emption rights" just means that they want shareholders to waive the the right to have first dibs on any issued shares.

How can you say the company has the worst chairman on AIM? They had a very viable project in Sweden which was ready to mine before the government decided to revoke the license. That would be a major blow to any company after putting in all the work to discover and prove up a resource. It's possible they might still get that back although I'm not counting on it. Since then they have built a very good portfolio of projects in Zambia, all with potential. Mushima North is the first of those to prove itself, with an economic grade silver / copper resource. There are several others which have the potential to be game changers for the company. The reality is you can't do exploration without raising money. That's just a fact and anyone complaining about raising capital to advance the projects is just not living in the real world.

Imagine that... AI spitting out incorrect information nicely packaged to look good.

From 28th May 2025 RNS:

"In the RNS dated 3 April 2025, the Company has executed a trade of 10Mt of the near 260Mt of resources at surface. The movement of the material has commenced, offering Jubilee the potential to improve the accuracy of its grade profiling. The trade of the material was valued at US$6.75 million which is to be paid in fortnightly tranches as the material is uplifted, with US$600 000 already received."

I can confirm that material continues to be uplifted from the site on a regular basis from satellite images of the LWP area.

Nevergiveup is just a loudmouth trader, he always goes quiet when the price rises then starts to chirp again when it stops rising. Same every time. He was even silly enough to admit he was just trading.

Junior, you were pushing hard for Galileo before Jubilee brought them onboard and of course it's in Galileo's interests if Jubilee take on the drilling costs for the wider Molefe exploration because then there's no further dilution for Galileo. You should at least be honest about your real reasons for posting here which only focuses on Molefe and ignores everything else.

There's a lot of placing shares to churn through so I expect the share will just bump along at about the current level until they are exhausted. Probably a good time to get in anywhere near the placing price (0.4 p).

And what is your reason for still being here 4everlong? You must be the stupidest amongst us all because despite everything you say being a pointer to exit, you still can't seem to find the door!

I don't seek a ramping echo chamber, look at what I've posted this morning, am I ramping or am I providing information and trying to answer legitimate questions? What are you doing here apart from very obviously looking for any excuse to twist the knife and then when you are proved to be talking rubbish you just move on to the next thing.

Chatmandu, you have spent more time on this board since you sold up that you ever did as an investor. Haven't you got anything better to do?

It doesn't say that the "targeted" 12,000 tonnes would come from Roan, Just that the target for Sable was 12,000 tonnes. As I said, the majority of output from Roan back then was sulphide concentrates which would never have gone to Sable. They would have had to fill Sable from other sources. Tailings by their nature are very low grade because they have already been processed once before. Jubilee were targeting what the original processing was unable to recover, in much the same way that they did with chrome.

I did a bit of digging around and came up with a possible name but I could be totally wrong. Julian Treger was part of the team behind Mantos Copper as head of Audley Capital Partners. He's now CEO of Cotec, which looks to invest in disruptive tech in metals extraction. They recently announced a JV with a company in DRC for processing of copper tailings, so they are active in the region. As I said I could be totally wrong.

https://cotec.ca/_resources/presentations/corporate-presentation.pdf?v=052807

They were processing tailings back then which was the southern part of the overall strategy which was abandoned when it became apparent that the infrastructure required (and promised by government) was unlikely to happen. That's why they ended up focusing on Roan as a base once power and water infrastructure were in place.

110 tonnes / day throughput equates to about 80,000 tonnes / month which is the nameplate capacity of the milling and flotation circuit WHEN PROCESSING TAILINGS. That's the important part to understand. Capacity is not a fixed number, it depends on what you are processing. Tailings are essentially a fine slurry which has already been through the crushing and grinding process, which means you can push more material through the plant. What they are processing now is unprocessed rock which needs crushing and grinding to the right particle size in order to be able to process it optimally. Obviously that reduces the throughput capacity which is why they have only been achieving 30,000 tonnes / month to date, hopefully soon to increase to 40,000 tonnes / month or more.

So why switch from tailings at 80,000 tonnes / month to RoM at 40,000 tonnes / month?

The tailings were producing mostly sulphide concentrates which sell for a lower price and also do nothing to increase production at Sable, meaning the fixed cost dilution doesn't happen. Also the tailings were lower grade so you have to push more through the plant.

The RoM is higher grade but also it is more than 80% oxides which means the majority of output will go to Sable, allowing fixed cost dilution to impact the margin.

If Leon had made all this clear at the outset then peoples expectations would have been more realistic. Most assumed (including me) that all of Roans output back then would go to Sable... that was never the case.

We aren't going to see 300 tpm from Molefe until next financial year according to the mine plan they RNS'd.

If you pay attention to Chris Koen in linkedin, Ator just announced that "phase 2" in Zambia is about to get started. That may be the expansion of Molefe to the East which was also referred to as phase 2 or it might be coincidence. Hopefully we get official news on that shortly if that is the case. News on the dewatering circuit reaching target would be welcome too and even the re-introduction of the front end DMS circuit allowing the throughput to step up.