Member Info for SeisNav

Why don't you do one Chatmandu? You claim to have no interest in buying back into the company but you spend all your time on here trying every way under the sun to talk down the company.

I contacted the company a while ago to clarify the numbers because the previously reported ~65% copper recovery means we should expect to see:

30,000 tpm (throughput) * 1.6 % (grade) * 65 % (recovery) = ~320 tpm copper production or ~960 tonnes / quarter.

In Q2 and Q3 we saw copper production of a little less than 600 tonnes / quarter so I wanted to understand why the shortfall? It was explained to me that the 'slimes' portion of the processed RoM is what will go through the new centrifuge / dewatering circuit and that is what will add the additional ~140 tpm. That would bring the total up to approximately the 960 tonnes / quarter that I was expecting. So that would be ~3,840 tonnes / year of copper production at 30,000 tpm throughput. That could increase to about 4,0000 tonnes / year due to the changes that have been implemented to (hopefully) gain 5% extra production.

If they bring the front-end into production then throughput could increase to 40,000 tpm or more and we might expect closer to 5,000-5,500 tonnes / year.

As a side note, the 'slimes' portion of the chrome processing circuit was what contained the PGM concentrate. We are looking at a very similar process but with chrome they were pushing a lot more material through per month due to the additional modules that were constructed.

"Rhodium is meaningful (~10–12% of production by volume in some reports), giving leverage to its price, but platinum and palladium dominate the revenue mix."

That's why I never use AI, at current prices, rhodium accounts for about 35-40% of 4E PGM revenue with Platinum at about 50%, so any change in rhodium has a significant impact on revenue.

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.