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I think the Sunday Roast guys will be visiting Jubilee’s operations toward the end of this month, in the 31st March podcast they mentioned about 4 weeks before they were due to head to South Africa and then Zambia. Hopefully there will be more news before that happens.
I watched a video of President HH officiating at the unveiling of a new solar energy plant in Kitwe yesterday. He again mentioned Chambishi Metals becoming active again. I get the feeling we will hear news on that sooner rather than later.
Unfortunately exploration takes time, especially when you are working with a very limited budget like TYM are and also in Zambia where there is (normally) a rainy season which stops activity for half the year. I think now is the year when things will start happening on multiple fronts, they are drill ready on most of the Zambian projects, with JV interest apart from KoBold at Konkola. The copper price will mean every mining company and their dog will be looking for potential deals… it’s now or never in my opinion!
This is from 16th Oct RNS:
“ All five projects are now at a stage where drilling priorities can be developed. One of these, Konkola West, is now subject to a term sheet for a joint venture and other projects have been subject to unsolicited joint venture interest from major companies.”
I’d be very surprised if there’s not an announcement of another JV or more before the drilling season starts. Mukai with FQM would be my guess, but Mushima North is also another possibility. That license is very close to one of the highest grade copper deposits ever found in Zambia, Kalengwa.
This is a news item from 2016, when the license was initially granted:
https://www.proactiveinvestors.co.uk/companies/news/122700/tertiary-shares-rocket-as-it-gets-storuman-mining-go-ahead-122700.html
If they get the go ahead again there should be a strong reaction in the SP.
Dru, yes that was my thought, you can see that the waste dumps at Bwana Mkubwa pit have really been developed over the last few years. There is also an open pit about 600m NE of Roan which seems to be active so they could be taking material from there as well. From what I've read, the site where Roan is now was once a processing plant for FQM and I think those large tailings ponds have already been processed through that plant.
No problem Dru and well spotted on the Jubilee field trip, I must have overlooked that page! It would be a perfect opportunity to use the social media channel to generate a bit more publicity you would have thought, especially with Jubilee's plans to integrate with the artisanal miners and generate employment.
I've been keeping an eye on Google Earth myself to see if there are any updates to the Roan site. You can also view Sentinel satellite data which gets updated every 5 days or so, however the resolution isn't quite good enough to see what's going on. I can see there has been a lot of progress but exactly how far along they are I can't tell.
Https://euzcopperbf2024.com/schedule/
This forum kicks off today in Kitwe. Good to see Jubilee has a presence, with Ricus Grimbeek taking part in the discussions on Thursday.
Yeah it doesn't make much sense... I guess we'll have to wait for Jubilee to update the list to see whats happening. It certainly feels like someone is building a position or increasing one at the moment.
I just had a look at Marketscreener for the significant shareholders. I'm not sure if that's an up to date list but it's showing a couple of significant differences from the Jubilee website:
Slater is now showing just over 200 million shares compared with 341 million on the website
Abrdn Alternative Investments is showing 219 million shares, not listed on the website.
Jupiter Asset Management, which disappeared from the website list, is still there, with the original 92 million shares.
If this is correct it certainly explains the drag on the SP whilst the institutions redistributed the shares!
They also recently consolidated ownership of three other Zambian licenses under Tertiary Minerals (Zambia) Ltd : Jacks, Mushima North and Mukai, in order to make any negotiations for JV's easier... which makes me think there may be another deal / deals in the pipeline.
First Quantum are keen to find other deposits close to the Sentinel / Enterprise mines in order to extend the life of the mine, they have been doing airborne EM surveying of the whole license area. Tertiary have identified an anomaly which straddles the TYM / FQM license boundary at Mukai and I think there's a good possibility of FQM drilling that for TYM. They are already in a data sharing and technical agreement with FQM.
There are many reasons why the SP might have started to recover, some of which might be:
We are getting more attention now due to pundits like Share Prophets and Charles Archer talking positively about the company.
Copper price is getting stronger so people are looking at getting exposure to copper.
People getting in ahead of the Q3 results
Potential news due on the status of Roan upgrade and ramp up.
People in the know buying in. There have definitely been some news leaks in Jubilee in the past, for example there was a lot of unusual selling before the news of Roan's power and water issues was officially released after the first ramp up.
I'm sure there are other reasons too.