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Great idea Telly, you never know it might plant a seed and generate a bit more coverage for the industry and Jubilee in particular!

You might have noticed that it hasn’t been commented on by the Zambian government either, because the regulatory approvals still need to be completed. After that I’m sure there will be a big announcement, this is a big deal for Zambia in some of the most prospective, largely unexplored areas left in the Copperbelt. If you listened to the investor call (which clearly you didn’t) you would have heard Nick say that regular drilling results would be RNS’d through Arc.

This goes back to my point of most traders losing money, they will try anything to increase the odds in their favour, even if it’s as futile as the nonsense we constantly see on these boards.

Ultimately it has no effect on LTH’s other than mild irritation!

https://www.miningweekly.com/article/copper-industry-warns-of-looming-supply-gap-without-more-mines-2023-04-21

Just reiterating what’s been said many times already but it’s interesting that in all of these articles they talk about increased mining and increased recycling but re-processing of waste never seems to get a mention. It feels like this industry is still very much under the radar at the moment, hopefully this will be the year to start changing that.

When I see all of those green boxes I like to remember that the vast majority of traders will lose money over time. Judging by the quality of their posts our bunch are not smart enough to beat the odds :-)

ICMAX the trades seem to be in matched pairs if you look at the times and volumes. If you look at the London Stock Exchange listing for JLP you can see more information, they seem to be some kind of transfer between EU/UK? Maybe someone with more knowledge of the trading system will be able to offer more.

Also in US dollars platinum is at a near 2 year high today. Palladium also still on an upward trajectory… long may it continue! Hopefully we will see rhodium follow suit in the coming weeks.

Cobalt might remain a bit more depressed though, I saw that the Chinese reached an agreement with DRC government over the export of copper and cobalt which has been blocked since last year over royalty disputes. There is a big stockpile there waiting to be released to the markets. Of course we have the bonus of ESG friendly cobalt so that might be a plus in securing a better price than LME rate.

What kind of approvals would be within the company’s control? Strange question!

Updated research note out

We already know they wont be at full capacity at Roan this quarter. I posted about that the other day:

“ I suspect many shareholders are as confused as I was over the expected timeline for Roan, so I have gone through the RNS and the presentations to try and get a clearer picture. This is what I got:

From the RNS:
“The final phase of the Roan project ramp-up is scheduled for early April 2023 to complete the commercialisation of the Southern Copper Refining project expected during May 2023. Upon reaching commercial production, the Roan copper concentrator is expected to contribute 550 tonnes of copper per month to the production of Sable Refinery with a further 130 tonnes per month of copper from third party supplies.”

Commercialisation is when the budgeted throughput of copper (550 Tonnes / month) is reached. This isn’t the same as reaching name-plate capacity.

From the presentation:
Roan expected to reach 800+ Tonnes / month capacity “post the current period”

“We have a conservative number on Roan’s production profile to allow for some downtime during the upgrade.”

Upgrade of front end expected to be done within an 8 week period once it commences.

So what we might expect to hear next, during May, is that we have reached commercialisation. Because of the upgrade to the front end (an 8 week period approximately) there will be some reduction in capacity. I guess that’s why they are not expecting to reach full capacity during the current period. Leon said that there is some downtime already built in to the numbers.”

At 12 noon today.

There’s an application on the Zaco license for Afrimin Resources…. Which seems to indicate Afrimin is ours still. We suspected that anyway but good to see.

Anybody spot the difference? :-)

Interesting to see the reports of China’s economy rebounding faster than anticipated. Leon mentioned last month that new orders for cobalt were coming in from China and the price was increasing, looks like PGM’s starting to follow as well. Copper still around US$9,000 / tonne. We are even exposed to the rise in gold price! Admittedly its a very small part of the PGM basket but it all counts :-)

I noticed that Zamsort has applied for a mining license for the area that was SEL.

It might be the PGM increase was the trigger for people looking to buy in, it’s been ticking up for a few days but then suddenly took off! Anyway glad to see it moving the right way again.

Peoples true character comes out online where everyone is anonymous. If you’re a decent human here then in all likelihood you are the same in normal life. Obviously the reverse is true too. I can’t bring myself to have a conversation with these people who are so clearly fakes, I tend to go straight for the kill. It’s the humane thing to do.

Anyway in the long run everyone (even Peggy) knows who the winners are going to be :-)

Do you see Anglo going into JV’s with all of these other juniors and offering the best terms ever negotiated by a junior?

Your timeline gives you away for the muppet that you clearly are,

https://www.economies.com/commodities/palladium-news/palladium-rallies-3.5-on-global-demand-prospects-42360

Palladium seems to be the main driver today but platinum is also trending up and rhodium seems to have bottomed out.

I think people are reading too much into the 13 day thing, it was 3 weeks, just with a long weekend included. It would be nice to finally see this over the line this week but I’ve spent enough time working in Africa to know that timelines can be very elastic! The government were supposed to be making an announcement on Mopani and KCM by the end of March, then it was last week… still nothing. It will happen but I’m not getting worked up about exactly when it will happen.