Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
They didn’t do a placing to raise “working capital” it was to advance the specific projects that were in the proposed placing RNS. The placing was oversubscribed so they raised more than planned. What company is going to turn down extra cash at a time when they are trying to grow the business? It doesn’t follow that they needed that extra cash for a cash flow problem. Unless of course you think Leon was lying about the reasons for the placing. Kalan obviously does as he’s said as much.
Https://x.com/Tertiaryplc/status/1782322705741574515
A site visit to Konkola West.It seems a long way to go to see a drilling rig which has only recently started operations.... is something else on the cards?
Gray1, you’re making an assumption that the tailings weren’t commercially viable. There’s no proof of that. The fact is Glyleach is a pretty new process which is being trialled by many companies. It’s cheaper than using purely acid leaching, more selective in what it leaches, recyclable and better for the environment. If a new product came onto the market with those advantages, for a company like Jubilee, which is pushing ESG as part of its foundations, they would be mad NOT to trial it in my view.
Just because they don’t update shareholders on progress every five minutes it doesn’t mean things aren’t happening.
I don't know if this has been posted here already but I noticed MMG has an updated presentation for the Botswana licenses.
https://www.mmg.com/wp-content/uploads/2023/11/2023.11.21-Khoemac-Investor-Presentation-EN-final-version_MMG.pdf
Nice to see little old Arc Minerals getting a mention in the "4th emerging group" on page 30. Also the updated cross section on page 29 which shows "Banana Peel" (now Mawana Fold) and Zone 9 on each side of the dome which Arc's license sits over.
Tailings are likely to be a lower priority while they get the other projects up and running. I don't know if you watched the Draslovka webinar but they showed a case study from Zambia (obviously Jubilee) which gave copper recoveries of 70-80% depending on the specific process. Cobalt recovery was pretty low however, I would imagine they are doing more work on the process to either improve cobalt recovery or use another process to do that. I'm sure that's going on in the background.
I agree that communication leaves a lot to be desired at times but I think things have improved recently, especially with the new CFO coming in. I do think Leon plays things close to his chest at times to retain first mover advantage, as they did with chrome.
Gotreal, yes that's the same website that I use, they seem to be quoting the figure for 42-44% concentrate but most of what Jubilee produce is 40-42% concentrate, which is the figure I've been using for my calculations. They always come in close to what Jubilee quote in the financials. WH Ireland even state that in their old research note from 2021 (page 27-28):
https://jubileemetalsgroup.com/wp-content/uploads/2021/12/FN-JLP-091221-reissue.pdf
We could do with another positive RNS to clear out the rest of the placing shares and then we might see a sustained rise. A good proportion of them must have gone already, over 300 million were traded in 2 days and the average over the last week or so has been about 50 million per day. Hopefully news of another JV is just around the corner!
Https://ca.finance.yahoo.com/news/exclusive-uae-giant-eyes-majority-050414211.html?guccounter=1
I was having a read of this geological report on the Konkla area:
https://portergeo.com.au/database/mineinfo.asp?mineid=mn012
and thought it was worth putting the geological map together with the Konkola West license and the location of the Mingomba deposit (in green).
https://tinyurl.com/9yn4dsmt
You can see that Mingomba sits in a syncline (ie, the dip of a structural fold) and that syncline runs into the NE corner of the Konkola West license. There is also a major fault line, the Fitwaola Fault, which runs very close to that NE corner. My guess would be that they would be initially looking at that area for drilling.
I contacted WH Ireland about that quoted figure for chrome concentrate price and it's their own research rather than a figure from Jubilee. He even quoted the same website that I use as a source for information but that is currently US$303-310 / tonne. I think I'll stick with my own figures which have closely matched the ones Jubilee quote.
Thanks Torino, I’m not sure where I got the 1800-2000m depth from, it does say a 2 holes for a total depth of at least 2000m in the original RNS! After those 2 holes are completed the parties will then form a JV company to hold the license prior to further exploration.
This from KoBold:
“KoBold looks forward to working with Tertiary and Mwashia on the Konkola West project. The Zambian Copperbelt has historically seen little exploration at depth, and the Konkola West licence is a great prospect to see if ore systems like those at Konkola or Mingomba also occur at depth within this licence. We will be able to use the equipment, experienced team, and data-science tools that we’ve assembled while drilling the nearby Mingomba deposit to improve our chance of success at Konkola West. We look forward to starting drilling as soon as practical.”
Mfikeyi Makayi, Chief Executive Officer, KoBold Metals Zambia