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Maybe someone should tell them they can stop now... the market's closed! I'm sure they can continue with the decamping tomorrow, if there's anyone actually listening anymore!

Well if Roan ramps up in the timeframe that is claimed, ie, by end of April, then we should see evidence of copper in the H2 results, chrome is already happening and will be more obvious in Q3 if prices remain firm. I don't see why we should have to wait 9 months to see obvious progress.

Buttermilk if you believed any of the rubbish you come out with you wouldn't be wasting your time posting here!

Has anyone pre-submitted questions? I put a couple in but I plan to ask some more tomorrow during the presentation.

One thing I really want in future is to see copper cathode and concentrate reported separately so we can see volumes and revenue for each, that would give a bit of clarity to what's happening I think.

I did ask about the TV reference to Jubilee being in negotiations with ERG to buy Chambishi Metals refinery although I don't expect a response on that!

Two can play at that game de-rampers... trying to bury anything you don't want people to see like you do every day

If anyone hasn't seen the historical drilling results from before the JV and undoubtedly one of the things that got Anglo American interested in the licenses... here they are in collated form.

https://seisnav.blogspot.com/2022/05/drill-assay-results-for-cheyeza-east.html

Judge for yourself.

If anyone hasn't seen the historical drilling results from before the JV and undoubtedly one of the things that got Anglo American interested in the licenses... here they are in collated form.

https://seisnav.blogspot.com/2022/05/drill-assay-results-for-cheyeza-east.html

Judge for yourself.

It looks like whoever's executing the trades this morning had a rough night... three attempts to get it right!

Wow they really didn't like me asking why they never talk about the licenses... or was it me pointing out that these accounts are being run by a team....

Here's my estimate for the full year revenue and earnings based on current prices:

http://tinyurl.com/5n8m6ds9

Copper is difficult to forecast because there are still too many unknowns such as how much cathode and how much concentrate we expect once Roan is fully up and running again, when ramp up will be completed (end of April according to the RNS) and how much of each type of copper is actually sold and not just total production. In H1 we produced 1683 tonnes of contained copper but we sold only 1182 tonnes of that. Also the costs and revenue per tonne will depend on the cathode to concentrate split and the amount of each actually sold.

You can see the effect of strong chrome prices though... if they remain at this level (actually they have been increasing recently) they will totally absorb the fall in PGM's.

Those who pay attention to such things will know that chrome and PGM markets tend to work in opposition so it makes sense to have exposure to both. Before with the chrome tolling agreements we had very limited exposure to strong chrome prices, now we are more balanced to take advantage of a rise in either one. SLP are only exposed to the PGM price and so have really suffered in the last year. They are putting in place plans to increase exposure to chrome now whereas Jubilee had the foresight to do that a year or more ago.

I’m coming around to the view that these multiple accounts are being run by a team. On another share it’s pretty obvious that a couple of the derampers are actually different people at different points in the day, in the morning one can barely string a sentence together in english but by the afternoon they speak it perfectly.

Why do all of those continuously trying to talk the company down never EVER talk about the actual Zambian licenses, the exploration done already, the copper-scandium results, the very high grade drilling results at Cheyeza and Fwiji, the drilling that Anglo is continuing to do at Cheyeza, the unprecedented JV which will soon kick off a major drilling campaign at multiple locations? They seem to have a blind spot when it comes to the main reason why most people are invested and remain invested here!

Why should I give a damn about your experience Minor Tom? I’m not here for opinions, I’m here for facts. I certainly don’t need a fake like yourself to tell me who I should and shouldn’t be paying attention to.

Buttermilk if you had any interest at all you would have seen it was discussed yesterday and the figures made clear. Of course commodity prices can change but they can go up as well as down… That’s why Jubilee are expanding to become a multi commodity company to hedge against price changes. But you know all of that anyway, you are just a tedious deramper.

…as Kermit the frog once said 🐸

http://tinyurl.com/ya7pj9up

The other thing is if these two additional chrome modules go into production in the third quarter of this calendar year as planned, they could easily double earnings for chrome. We are talking US$75-80 million a year at current chrome prices.

Not sure if this has been posted already:

https://youtu.be/9XDqqoDGG9A?si=9jRqtXCVAABOpX2H

Kalan was defending Bushytailed not too long ago, saying we should all listen to his ‘balanced’ views despite the fact that Bushytailed couldn’t lie straight in bed! I detest people like Kalan even more than Bushytailed because he tries to appear like a nice guy while at the same time trying to stick the knife in. Sad what people will do for a few tenths of a penny eh?

Dorfan, I agree with you, Leon saw what was coming with the PGM market and started to move into higher margin chrome and those who make the effort to look can already see it's having a very significant impact on earnings which will be even more apparent in Q3. SLP are now trying to follow suit but they are a long way behind.

http://tinyurl.com/5c7w6yuy

Any recovery in PGM's (which is forecast to happen) will be a bonus to the chrome figures.

Copper will come in time. Remember how chrome has grown from 40,000 tonnes / year to over 1.5 million tonnes / year in just a few short years. I have little doubt that copper will follow a similar trajectory. It may not have come as quickly as we would have liked but it's happening.

If I thought you were even slightly genuine I'd be wondering why you have continued to hold when in your very first post at almost 16p share price, you were already complaining! Of course I know you're just a trader. I shall filter you now so you're not cluttering up the place.

For this with the imagination to understand the future rather than the past (no, not you heroric):

http://tinyurl.com/5c7w6yuy

A quick Look at chrome figures for Q1 and Q2. We know the margin in Q1 was US$10/tonne so I was able to calculate the approximate margin for Q2 from the H1 figures. I've used the tonnage figures from the Q2 RNS which differs slightly from today's total but not by much. You can see that Thutse coming to full production in Q2 added roughly US$5.8 million in earnings on top of the toll earnings, that's despite a slight fall in the average chrome price compared to Q1.

What does that mean? Adding another Thutse module of the same capacity generates an additional ~US$23 million in annual earnings at current chrome prices, that's for an investment of roughly US$8 million, so it pays for itself within 4-5 months and the rest is gravy.

One additional module would mean we would be generating annual earnings of getting on for US$60 million at current chrome prices. Not bad for what was just a means to get to the PGMs a couple of years ago.

I'll look at the rest of the RNS later but I thought it was worth pointing out how significant this is.