Member Info for SeisNav

Yeah I know what you mean. BushyTailed gets away with spouting total lies about the company and correcting every one gets very boring. I’m tempted to start dumping all of his trash back on the HUM board, see how he likes that!

Basscadet, the 550 tonnes per month of copper was an initial level, to ensure they were maintaining A grade quality at that level. They will then ramp to full production after that has been established. Leon said that in the q&a I think.

Sorry, I got that wrong Humbug Resources are down over 100% since our genius investor BushTailed started talking them up. Of course he’s allowed to look at a longer term view but for some reason that’s not possible with Jubilee. What a load of rubbish.

Is that what you plan to do with Humbug Resources then? It’s dropped by more than 50% since you first started posting on it. The irony of lecturing people, many of whom are sitting on nice profits, on what to do with their money, while at the same time being well down on your own investment…. You couldn’t make it up!

Agreed Dorfan, it’s madness that a company making profits has a market cap. Which is currently less than the value of it’s assets! Anyway the market always finds new ways to surprise, the key thing is to not let emotion get the better of you. I still expect to see a lot of positive news from Jubilee this year. We have agreed terms on the refinery (Chambishi?) and if the tax issue can be resolved shortly I think we will see the announcement of the Mufulira s l a g project after that. The two things are likely very connected with Chambishi having the ability to process s l a g already. This is the richest copper / cobalt resource in Zambia and will be a massive boost to Jubilee once it starts.

I’ve warned the moderators about shorteverything and BushyTailed posting constantly against the rules of the site but they just let them get away with it.

“ You will not;

post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.”

…that ISA cash!

No not ours.

I just checked the current Cadastre against an older screenshot and I can see they are now updating granted applications. The one I checked was granted on 31/03/2023. Tick-Tock …. :-)

https://www.thisismoney.co.uk/money/isainvesting/article-11875625/Its-time-Bed-Isa-capital-gains-tax-raid-hits.html

For UK investors considering doing a Bed & ISA with their allowance this coming tax year, in case you didn’t know about the CGT exemption reduction. It would certainly affect me if I transferred my full allowance in JLP shares.

I guess Bushytailed doesn’t need to worry about that though with HUM having dropped about 60% since he first invested. I don’t like to see investors loose money but in his case I’m very happy to make an exception! :-)

https://www.thisismoney.co.uk/money/isainvesting/article-11875625/Its-time-Bed-Isa-capital-gains-tax-raid-hits.html

In case anyone was considering Bed & ISA with their allowance this coming tax year and didn’t know about the reduction in CGT exemption.

CT, I’m just talking about applications, they are still adding updates now that were made last year when the cadastre was reopened. It doesn’t make me think they will be updating approvals in near real time. It might happen but I certainly wouldn’t be relying on it to make an investment!

There’s no guarantee the Cadastre will be updated before it gets announced, they have been months behind in adding all of the updates, so there might not be any prior warning.

This was from a report last year:

“ TALKS TO OPERATIONALIZE CHAMBISHI METALS ALMOST CONCLUDING-KABUSWE
By Michael Kaluba

Government has disclosed that negotiations between the state, an unnamed new investor and the previous owners of Chambishi Metals Plc are almost concluded and will result in the asset becoming operational, over 2 years after it was placed on care and maintenance due to a lack of feed for production.

Mines Minister Paul Kabuswe has disclosed to Phoenix News that the transaction on Chambishi Metals will soon conclude to reopen the mine, re-admit the mine’s former employees and utilize the recently signed mining and resource sharing agreement with the Democratic Republic of Congo to access the much needed copper concentrates feed that led to the mine shutting down in 2020.

Mr. Kabuswe says government wants to work with investors that can be trusted and are ready to stand by the Zambian people through good and bad times to achieve job creation and increased productivity in the mining sector.”

Interesting that he talks about bringing in material from DRC to process. The last couple of lines are quite telling.

Hopefully we will hear some news on the refinery acquisition this month, assuming ERG and the Zambian Revenue Authority can reach an agreement, as promised by President HH.

Anglo pulled out in the early 2000’s you can read about the reasons here:

https://www.nytimes.com/2002/01/25/business/mining-giant-set-to-depart-from-zambia.html

Essentially due to falling copper price and inherited poor mining infrastructure.

They were in a JV with Equinox Minerals exploring large swathes of the Copperbelt which included the Kabompo dome and the licenses of which Arc is now the majority owner. When Anglo pulled out of Zambia they terminated the JV giving Equinox a 100% interest in the licenses, but retained a net smelter payment of 1.5% and a ‘claw back option’ to buy back 70% of the interest in the event of a 3 million tonne copper resource being found (I wonder what happened to that?).

https://www.asx.com.au/asxpdf/20050615/pdf/3r6pd108lws5b.pdf

Equinox eventually went on to discover and develop the nearby Lumwana mine, the was bought by Barrick Gold in 2011 for US$7.4 billion. I guess at some stage they must have relinquished some of the exploration licenses in order to focus on Lumwana but I haven’t seen any evidence of what happened to them after that.

https://www.bbc.co.uk/news/business-13187997

A bit of an aside, I found these notes from Equinox Resouces from 2000, when they were drilling at Fwiji and Kalaba:

“The Fwiji and Kalaba prospects were the focus of exploration at Kabompo, where work included regional geochemical sampling, ground geophysics, re-sampling of historic core and two programs of drilling. North of the Kalaba Prospect work included ground geophysics (reconnaissance IP traversing), which has defined a low resistivity anomaly coincident with copper soil anomalism associated with a Lower Roan shale horizon. Re-sampling of several historic RST diamond holes drilled at Fwiji returned significant silver assays in addition to the known copper mineralisation, the best being MK627A :
13.60m (63.20 - 76.80m) at 39.8 g/t Ag. Further investigation of this silver mineralization is planned. A 64 hole (2000m) RAB drilling program was completed to test the shallower portions of the Fwiji prospect, in conjunction with an 8 hole (1077m) RC drill program testing the deeper down dip and down plunge extensions of this mineralisation. RST intersected copper mineralisation by diamond drilling in the 1970's with intercepts such as MK628, 10.60m of 1.25% Cu at Fwiji. The RAB results defined minor copper anomalism and an interesting zone of Upper Roan carbonate hosted copper-lead-zinc
mineralisation, with a best intercept of KAB00RA057 : 8m (20-28m) of 0.12% Cu, 1.28% Pb and 0.43% Zn. The RC drilling intersected visible sulphides, including copper sulphides in most holes and assay results are expected next Quarter.”

As NorTescO seems to think we are nothing but a bunch of rampers… here’s some facts. These are the compiled drill results from our shallow drills ar Cheyeza East, Fwiji and Muswema:
https://seisnav.blogspot.com/2022/05/drill-assay-results-for-cheyeza-east.html
As Nick said, almost every hole we drilled was mineralised and the best results are better than anything else seen on the Copperbelt for years. These drills are just a tiny part of our areas of interest.

Nice to see all of the usual ghouls showing up to congratulate us. I guess you were expecting a drop on the RNS to buy even lower… too greedy :-)

Nope. There was never talk of a full take over.

I guess singage is when the fat lady sings? :-)

The SP went to 8p when the JV was first announced but then we had a long period of warrant shares being sold into the market which really dragged the SP down…. This time we don’t have that, most warrants are done.

Give it a rest Higgin. You were ultra positive until 6th Feb, then since then ultra negative… classic trader behaviour.