We would love to hear your thoughts about our site and services, please take our survey here.
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.
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