Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I track SLP share price in my spreadsheet because they are (currently) still a pure PGM play so it's a good indicator in my view of how the market views Jubilee....
https://tinyurl.com/yn3bzp8x
Do you see any evidence of chrome or copper affecting the share price? To my eye they are tracking pretty much identically.
I expect earnings to come in somewhere close to last year, which is not bad when you consider that most of our (so called) peers will be reporting a drop of around 70% or more due to the fall in PGM basket.
Chrome is slightly down from its high a couple of weeks back but still (as of today) quoted at US$300-308 / tonne for 40-42% concentrate.
A lot depends on getting Roan up and running really, if that happens within the timeline that we were given then US$15 m is certainly achievable, although its important to remember that quite often the amount sold is less than the amount produced during the reporting period, especially if we are expecting it to be weighted towards the end of the period, we might not see the full benefit of production in the revenue and earnings. Good to see copper hitting US$10,000 / tonne again, that will certainly give us a boost!
Here are the quarterly averages for the current financial year, including the current quarter so far:
https://tinyurl.com/353jx4a6
"Anglo American is well positioned to create significant value from its portfolio of high quality assets that are well aligned with the energy transition and other major demand trends. With copper representing 30% of Anglo American's total production, and with the benefit of well-sequenced and value-accretive growth options in copper and other structurally attractive products, the Board believes that Anglo American's shareholders stand to benefit from what we expect to be significant value appreciation as the full impact of those trends materialises.β
Growth options in copper you say? π
It's basically a software program designed to do some repetitive task, in this case automatically creating posts on a company that you might be invested in. Usually they are just rehashes of things that other people have already written either here or elsewhere on the internet. I guess it keeps the post count up if nothing else!
Janet's just a BOT, harvests quotes from other posts and puts them together into new posts... not very subtle either!
Https://x.com/tertiaryplc/status/1783509018037612944?s=61
They are certainly cracking on, about 190-200m deep now by the looks of it.
Yes Mikie, there are several 'Black Mountains' I believe, all furnace s l a g dumps which are still being added to. The biggest one is at Kitwe but the one we are involved with is the Mufulira dump. Apparently they are quite different in composition and require different processes to extract the copper and cobalt. I believe Leon said they expect to do it in stages with the easy to process materials being dealt with first to generate revenue while they work on the more complex stuff.
He said that back in the day the technology wasn't available to process the waste. They picked Jubilee from several bidders because they did have the technology. No subtitles required... I spent quite a few years working up and down the West African coast π
Https://fb.watch/rF_GLClxbI/
A brief discussion about Jubilee and s l a g s / tailings, from about 42 minutes.
Tertiary are part of a technical cooperation agreement with First Quantum for the Mukai and Mushima North licenses:
https://www.tertiaryminerals.com/downloads/20220915-tym-rns-collaborative-agreement-zambia-copper-projects.pdf
So any potential JV on those licenses might be more likely to involve FQM, but there are no guarantees of that. Mukai in particular might be ripe for a JV because the anomaly already identified crosses the boundary between Mukai and FQM's Trident licenses and FQM are actively exploring those licenses.
I know they are also planning to drill on Midnight Sun's licenses over the Solwezi Dome so probably needed to bring in more equipment. I guess money is no object when you have those kind of backers!
Https://x.com/Tertiaryplc/status/1783060020969525716
150m drillied in just over a week. Pretty good going.
He was out there last July, talking to FQM and meeting the Minister of Mines.
Https://x.com/Tertiaryplc/status/1782684693051109456
So it looks like he had a day in Lusaka. Hopefully some productive meetings!
The SP fall is due to the placing shares being sold off. Nothing more. As I said, we need another positive update to flush them through the system before we see a rise.
Remember this drilling is just the first stage before they form the JV company:
Subject to regulatory approval of the EIA, in Stage 1 of the EIA, KoBold is committed to complete at least two drill holes (for a total of at least 2,000m of drilling) within 14 months, with drilling to start no later than May 2024 KoBold's planning of the Stage 1 drill programme is well advanced with the first drill site selected.
On completion of Stage 1, the parties will form a joint venture company ("JVC") to hold the Licence and enter into a shareholder agreement, the form of which is set out in the EIA. The initial JVC ownership will be KoBold 51%, TMZ 39% and Mwashia 10%. Mwashia's equity interest will be free carried by KoBold and can be purchased by KoBold at any time for US$3.5 million.
KoBold may elect to increase its ownership in the JVC to 70% in Stage 2 of the EIA through sole funding a cumulative expenditure of US$6 million on exploration within 4 years of signing after which TMZ will hold a 20% interest, and Mwashia will continue to hold a 10% carried interest in the JVC.
After Stage 1 (or Stage 2 depending on KoBold's election at the end of Stage 1) TMZ may elect to contribute to the further costs of the JVC pro-rata with its shareholding or dilute its interest in line with the customary joint venture dilution formula. Should TMZ dilute down to 10% shareholding in the JVC then TMZ's 10% interest will convert to a 1% net smelter return royalty payable for a 13-year period following the start of commercial production.
If KoBold can elect to buy Mwashia's 10% interest for $US3.5 million what is TYM's 39% interest worth, should they decide to buy the company out?
No, they disappeared in a flurry of posts so I didn't really look at them. To be honest I've found trying to forecast too far ahead with Jubilee is generally a waste of effort. Too many unknowns really. I'll have a look tomorrow if I get a chance.
Have a look at my posting history Gray1. I generally post factual information. I certainly don't look to pick fight with people but I find people who deliberately mislead others when it suits them highly objectionable.