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"The Board is confident in Anglo American's standalone future prospects. Anglo American has accelerated plans for delivery of its standalone strategy and will provide a detailed investor update on 14 May 2024."

I doubt they will address operations in Zambia directly but might be worth a read tomorrow.

Well if they bought in at the lows then they already made 100% profit. You need to have buyers and sellers to make a market!

For once butterballs is right, we are doing fine with all that fine chrome 😂 Platinum back at US$1000 / oz makes a nice difference to the PGM basket too. Yes a few delays in Zambia are meaningless when you look at the bigger picture, against a backdrop of falling supply and increasing demand we are all set to follow the same trajectory as we've seen in South Africa over the next couple of years.

There hasn't been an update in chrome concentrate price for a while due to the Chinese holidays recently but on Saturday they reported US$300-308 / tonne, which is unchanged from the previous update. They are also reporting future cargoes increasing prices by US$5 / tonne so it looks like demand remains strong at the moment.

Nice comparison, although maybe a bit strong on copper revenues, there doesn’t seem to be any account of the sulphide concentrate to cathode split. Then again costs might be considered conservative. Anyway, one step at a time, let’s see Roan in production first!

It’s just a fairly short mention, towards the end of the podcast Dru, sorry I didn’t make note of the exact time.

Where are you getting that information from because it seems to contradict the article? Also, the Head of the Mining Inspectorate, Helena Kjellson, is quoted at the end of the article.

Anyway the company should be able to confirm the situation, I’ll try contacting them this week.

There was a reply to Dru's question about Roan... turns out they were there on Zambian Bank Holiday so didn't have time to fit it in without cancelling their other visits... nothing sinister they said!

It looks like the Storuman application was again rejected back in February, due to conflicts with reindeer husbandry in the area, however the option is still open to modify the plan and re-apply.

Here's the article I found in Swedish:

https://www.svt.se/nyheter/sapmi/lansstyrelsen-sager-nej-till-gruva-i-kyrkberget

and the Google translation:

"Tertiary Gold wants to open a mine at Kyrkberget in Storuman. But after being refused, the government decided that the application would be re-examined. Now the county administrative board has said no again, as it is considered that the location of the mine interferes with reindeer husbandry. The company Tertiary Gold wants to open a mine near Kyrkberget in Storuman. But the Norwegian State of Norway denied permission for mining at the site, citing that it would disrupt the reindeer husbandry in the area.

After that, the company appealed to the government, which in September last year decided that the application for the mine should be tried again. The proposed mine would mine the mineral fluorspar, which is considered a critical substance within the EU because production is low, and the government stated that there are two national interests in the area, where reindeer husbandry is one and valuable substances and minerals are the other.

Get rejected by the county board now the county administrative board has concluded that the two national interests cannot coexist at the site, reports Västerbottens-Kuriren.

The mining operation must be adapted so that it can coexist with the reindeer industry, says Magnus Langendoen, head of unit at the county administration in Västerbotten. The reason is that the proposed mine's sand storage and clarification pond are located in an area that constitutes the reindeer husbandry's core business.

However, there are still opportunities for the applicant company to get its application through if other solutions are found. Should the applicant come in with a revision of the application, we have the option of re-referring the case to the county administrative board and, in case of possible approval, grant the application, says Bergmäster Helena Kjellson."

There isn't really one set price. The headline price on the LME site is a 'cash' price which is presumably for immediate delivery. It also quotes prices for 3 month delivery, 4 month, 5 month... etc. Which one might more accurately reflect what JLP are getting is difficult to guess! I just track the headline figure. Prices in other markets will have some variation as well depending on supply and demand.

Cavey, I use the LME price for calculations because that's what Leon tends to reference. The average price for this quarter is currently US$9,556 based on LME figures.

I'm pretty sure TNR is the same sad character who was posting for years on the JLP board. He uses all the same tricks. Posting historic posts, challenging people to point out where he lied and then when exposed as a liar, reneging on his promise to stop posting. He was undoubtedly shorting JLP but the saddest part is all of his posting was completely pointless and had no impact on the share price at all, it continued to track inline with its peers. He will disappear from here too once this starts to gain traction.

News, you are a very long winded individual. I have posted plenty of information both here and on X long before you started posting here. There is no reason for me to withhold information, I’m a long term investor in both Arcm and a more recent investor in TYM.

I’m not denying anything about your research, all very interesting, however my point is that what was called Konkola West in the report you are quoting IS NOT THE SAME AREA as the current TYM license called Konkola West.

Here is the cadastre showing Konkola West highlighted: https://tinyurl.com/34x8f6pn

Here is the map from the SEC report showing PLLS175, referred to as Konkola West in that report: https://tinyurl.com/2ywch42f

It’s clear that PLLS175 is North of TYM’s license area. The current Konkola West was once part of a larger license area owned by Equinox which you can see on page 42 of that report.

What I’m saying is that the license you are talking about is not the same license that is now called Konkola West. Have a look at the map and compare it with the licenses in the mining Cadastre website.

News, you might want to look at the map in that report. License PLLS175, referred to as Konkola West, is not the same license that TYM now have. It’s actually refers to the license to the north of Konkola West, 8625-HQ-LML, now owned by Suhails International Limited.

Yes the other 2 licenses are 33402-HQ-LML and 33403-HQ-LML, the two northernmost Zaco licenses.

Actually all three of the LML applications are at the same stage, Application Validated and Pending MLC decision. That was updated shortly after the last MLC update was issued.

I guess these applications are being driven in part at least by Anglo, they are planning to explore the licenses systematically over (potentially) several years so they need to make sure that they don't loose half of each license each time they come up for renewal. A 25 year mining license allows them to do that.

All you can do is do your research and invest in companies with licenses that have good potential. There are no guarantees in exploration, it's high risk / high reward. No point complaining if it doesn't pay off, it's your decision to invest or not. All I'll say is that for a company with a MCAP of less than 3 million, they have a number of projects with potential to cause a re-rate.

There have been rumours circulating about NASDAQ making a bid for AIM:

https://www.thisismoney.co.uk/money/comment/article-13341575/Dont-let-Nasdaq-aim-AIM-market-says-MAGGIE-PAGANO.html

If that happens we might not need to go anywhere!

Anglo are about to restart drilling on the Arc Minerals JV, just a few km away from Mupala, further along the Roan geological outcrop which runs right through the Mupala license. All of the major discoveries in that area are closely associated with the Roan geology, if Anglo make a signifiant find nearby then Mupala will become even more. interesting. It was a fantastic steal to get that license ahead of Anglo, who used to own the exploration licenses across that whole area of the Domes before they left Zambia.