Member Info for SeisNav

I see the shareholder list has been updated recently. No changes for the Institutional holders which is good to see, the share price has been battered by constant institutional selling for one reason or another for at least a year so hopefully thats over with!

Thanks Jonah, yes I might have spoken too soon with the PGM prices! I wonder if we will get an RNS tomorrow to confirm the deal has gone through or will it take into the new year to get over the line? Personally I wouldn't mind waiting a bit longer if we continue to benefit from PGM's!

No problem Everopeful, it helps me keep the faith too!

As we are almost at year end, here are the average metal prices for the last year as well as the previous one

https://www.dropbox.com/scl/fi/lcf8i6mhje9yt3ugbero8/Quarterly-Metal-Prices.jpg?rlkey=rwtxxvwv9ojqdlbfy8frny8lh&dl=0

PGM's have been on a bit of a run lately, which seems to have run out of steam, with a pull back this week.

Chrome average over the H1FY26 period is much the same as the average for FY25

Copper looks to be finishing the year very strongly, currently at US$12,500 / tonne

Cobalt is still edging upwards, driven by the problems with supply in DRC.

I'm not sure I could go back to working full time Bobbill, it would be a shock to the system!

No I'm not a full time analyst, just an amateur investor who likes to do the research. I'm no longer working so plenty of time on my hands to do it.

It all looks great in a spreadsheet.... let's just hope they can deliver what they say or Leon is going to find it increasingly difficult to justify that big salary! Interestingly I looked at what the CEO of Sylvania Platinum earned last year and it was considerably less than Leons package was.

Here's the ramp up plan according to what we have been told so far. I've also added an estimate of the revenue from copper just for the heck of it.

https://www.dropbox.com/scl/fi/oe2wpw709kptng0d40yx3/Zambia-Ramp-up-plan.jpg?rlkey=gf31mg3bs5u3aihuza4q9nn95&dl=0

For the revenue estimate, I'm assuming 85% of the copper is oxide which goes to Sable to make cathode, sold at LME price. The remaining 15% sulphides I'm assuming is sold at 70% of LME price which is in the ballpark of what has been mentioned in the past.

Average copper prices for Q1 and Q2 are based on the numbers, from next quarter I'm assuming an average of US$12,000 / tonne.

The low grade processing plant is due to come into play in Q1 of next FY according to Leon. I've got it ramping up from July which might be optimistic but we will see... I'll update it as and when we get new info.

I'm not assuming anything from Project G or the LWP in the plan as yet, I certainly don't see much happening on that front before next FY anyway.

Bottomsup, you have been having a go (rightly) at Harmprof for filling the board with posts.... you are doing the same thing!

What's my narrative then nevertogiveup? Am I telling people they should be buying shares? Am I ignoring the companies faults? No I am not. Most of what I post is factual and up until recently I was happy to share any information I had with everyone else here. Sad to say that has changed and I am now holding back some of that information because of people like you. You would be surprised at the information thats out there if only you make the effort to look for it.

It's quite sad to watch SirBoring and Lootgaloot trying to mislead people in such a blatant way. I believe it's called attempted market manipulation. There's not even the slightest attempt to be subtle about it!

I know you have been around along time Jolly, I wasn't referring to you, just to our recent arrivals who all showed up just after the sale was announced.

The same website that you are posting your drivel on you muppet.

So many recent posters from South Africa claiming to be long term holders, maybe the website should be renamed Johannesburg South East!

Bottomsup, I just unfiltered Harmprof to see what he's pumping out now and to be honest most of it is obviously wrong. I'd just ignore him or better still filter him.

I noticed in the 2025 Annual Report when it came out that there are still references to cobalt in there. Have a look at page 12 where it shows Jubilee's assets after disposal of SA operations. It says "Copper and Cobalt Strategy".

The point is that without chrome production there can be no PGM production. How about thinking 12 months down the road when the second major chrome contract is up for renewal. It's with the same company that just declined to renew the other contract. The inference in the circular is clearly that it's also unlikely to be renewed because companies are increasingly taking production in house to obtain full value. What would the business be worth when we have no contracts to feed Inyoni? If SirBoring can use chat GPT to magic up some new chrome contracts then maybe he has a point, otherwise I would say they got the best deal that they could under the circumstances.

I see copper has finally breached US$12,000 today. If we can't make a decent margin at that price then something is seriously wrong!

HD, the original messaging was that there would be two plants, this was in the 6th October update:

"The lower grade material is targeted for future on-site processing, with plans for two 30 000tpm modular processing units being investigated."

I think it's just recent messaging that maybe confused the situation.

Shuvlin is the other board really any better? The few times I've looked on there it was much the same as here except slightly more downbeat! As I said yesterday, the moderation here works but it relies on users reporting misinformation and abuse to get it removed.

Very good point Ardbeggar although I doubt they will take it seriously.... until it's too late!

I was surprised myself unless they are talking about two plants rather than one. Add it to the questions for the AGM.