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I’m sure we all hope you get what you deserve too Peggy

So…
Licenses on Monday morning, wet ink Monday afternoon
Speeches on Tuesday
Drilling first thing Wednesday….

Or is that too optimistic :-)

Do remember to spare a thought for Peggy and the rest of the ghouls, who must have been praying for bad news but sadly didn’t get it!

It seems a bit odd to me to be writing to Leon on a message board that he’s unlikely to be reading. Why not contact the company directly if you want to discuss something?

Got to love a sly deramp :-)

Looks like someone’s just in from Wetherspoons and talking to themselves :-) Funny how they show up together eh?

There are a combination of reasons, the biggest of which is the massive decline in the PGM basket since the massive highs of 2021. SLP is also down 35% over the same period if you care to check. Our decline should have been arrested by copper production starting back in Q4 of last year, but operational issues in Zambia prevented that happening and effectively delayed copper production until recently. This has obviously unsettled the market but I expect that to quickly turn around once it’s established that copper (and cobalt) is being produced at the expected volume and grade. There are various other reasons such as (imo) the dumping of warrants which were taken up just before the results were announced.

In short, in my view its a steal at this price and I will be buying more when funds become available.

Yes I’ve got one eye on the new tax year, if I can find the extra cash I will be adding JLP into my ISA after 6th April. I suspect many people who are wise to where Jubilee is going will be doing the same thing!

Hi Mikie, I just checked the presentations again and Leon states “currently producing 50-odd tonnes of cobalt to maintain or markets” (in the investor presentation at about 43 minutes in). They are monitoring the orders coming in and will increase that as the cobalt price increases. Another thing worth stating is that he mentions many cobalt producers have scaled back completely because it’s uneconomic for them to produce at the current price whereas we could still make money at this level. Yes after May we should be able to scale up beyond 75 tonnes / month without affecting copper production.

As for current current copper Leon said they were ramping up gradually to ensure they can produce A grade copper cathode at all times (we achieve a price above LME as long as we achieve that grade). First target was to produce 550-600 tonnes / month of A grade copper cathode, then by May increasing that to full capacity.

Any electricity costs are already built in to the known production costs, typically US$5,000 / tonne when in normal production. Why should we be concerned about that particularly? At current prices thats a margin of US$4,000 / tonne or $US40m / year for every 10,000 tonnes of copper produced. Near term we aim to be producing more than double that so more than US80m / year in operational earnings. If Trafigura is correct and near term copper prices hit US$10,500 / tonne that equates to US$55m per year for each 10,000 tonnes produced, or more than US110m / year when we double production. That’s not including anything from cobalt or chrome or PGMs.

Bushytailed has never backed up ANY of his wildly inaccurate speculations about Jubilee. He just keeps throwing mud at the wall in the hope that some of it sticks.

I see I must have accidentally unfiltered Ella10… good to see he’s still posting the same old rubbish!

Anglo first signed an exclusivity agreement almost 3 years ago and they were in informal talks with Arc even before that. First our dodgy ex-director threw a major spanner in the works by using the courts to delay the deal being finalised and then the Cadastre got closed down, again delaying completion. This deal would have been completed a long time ago if circumstances had been different. On the plus side it looks like the delay will actually result in us having an increased JV area with the application in for other licenses, something which I think may prove to be quite important in the months ahead.

Clearly they expected to get everything done within the 1 month extension but the glacial pace of the Cadastre re-opening looks to have scuppered that barring a last minute completion. The last official word was that licenses would start being issued ‘by the end of March’ and you would assume that Anglo would be up near the top of the pile… any further extension should be a short one in my view.

Mikie, I think you have to be a bit careful with Leon’s terminology sometimes. As far as I understand it they are working to increase capacity but not actual production. I’m pretty sure Leon said during the analyst call that they were continuing to produce 50 tonnes / month to show customers that they can produce the high quality product required in Europe, but would only increase production when cobalt prices started to rise. He also said that new orders had started to come in from China and prices were starting to reflect that. He also quoted typical production costs anywhere from US$16,000-US$18,000.

One thing to be aware of, the Chinese (CMOC) have been banned from exporting cobalt from DRC since July, due to a dispute over royalties. They have continued to produce and stockpile since then so at some point that will find its way back onto the market, most likely the Chinese market. If we are looking to establish sales to Europe based on higher quality and no issues over child labour, that may not be a factor for us. The largest market for cobalt is still in mobile phones so we need the manufacturers to create something new to tempt people to buy!

What Bushytailed is really trying to say is someone wants to buy rather a lot of shares but they don’t want to pay a fair price, they want them on the cheap, so if you could please all sell up he would be very grateful. Do people still fall for this nonsense?

We had one of these derampers on another board and I alerted the moderator to his relentless posting and his account got deleted. I’d encourage everyone to do that.

Liar

FYI

I looked more into Bushytaileds posts and its pretty obvious he’s deramping every share he posts on. I guess I should have realised he’s doing this for a living not just to annoy this board. Actually that makes me feel better, knowing that in reality he’s such a sad case that he couldn’t earn a living doing anything else!

If I had any faith in what the SP does I’d have sold out years ago. This is the most telegraphed JV ever and if it happens tomorrow or next week I really don’t care… its going to happen and its going to happen SOON!!

We might just get this thing over the line this week after all! If they are forming the new board that surely means the JV is signed off already…. Let’s hope so!