Member Info for SeisNav

I kept an eye on Peggy after he “sold out” and left us in peace for a while…. He tried it on with another couple of shares but couldn’t get a bite, so eventually he was forced to come back here for attention :-)

Peggy seems to have selective memory, having sold out in the 2’s and now talking about having a punt in the 3’s! I guess he doesn’t follow the buy low sell high method… what a maverick :-)

Cygnus, there’s no expectation of a further production update, Leon said they would update guidance for FY 2023 on or before 20th March, when the audited half year results are due.

https://www.reuters.com/markets/commodities/rio-tinto-sees-robust-short-term-outlook-copper-2023-03-14/

https://www.miningweekly.com/article/mining-output-declined-for-a-twelth-consecutive-month-in-january-2023-03-14/rep_id:3650

South African PGM output down 15.2% year on year… that’s got to be reflected in prices at some point.

I don’t see that load shedding had much influence on the production from Inyoni during the last period, after all, the chrome production was actually higher than the targeted 600,000 tonnes at 634,111 tonnes, and hence PGM feed also exceeded the target, allowing for a stockpile to be created to guard against future problems. I think the main issue was the lower grade feedstock for the first 4 months of the period. Leon said that this was scheduled… if that was the case and they knew we would not achieve target, why did we have to wait until the results were released to find that out?

As for this period, who knows what the load shedding effects will be. I hope Leon will be more forthcoming with the full year guidance next week and show he has learned from his mistakes.

Interesting article on cobalt:
https://www.ft.com/content/abf28c9f-54e2-45c2-8dac-c5016bd31423

Short term prices could slip further on weaker demand combined with increased supply but longer term demand expected to quadruple.

No it’s usually the other way around, they comment whenever the SP has dropped a bit, never when it goes up. They don’t have the power to alter the SP even if they think they do!

No, it’s not a new change.

Leon made a point of saying that the European car industry was encouraging Jubilee to increase cobalt production… why is that do you think? Because (imo) we are producing ESG friendly cobalt, unlike much of what is coming from the DRC. Yes there are alternative battery chemistry’s coming along but they have weaknesses like limited range and poor cold weather performance. If you want a vehicle with a decent range there is no alternative to cobalt currently. If it becomes uneconomic to produce at some point then we can pivot away from it. The fact is once we have the northern strategy fully implemented earnings will be dominated by copper.

Sorry, it’s just one of those stories that pop up from time to time promising free unlimited power. It may well be a scientific breakthrough but I don’t see how it could have any mass market applications right now given the limitations. We are still going to need lots and lots of copper.

I’ve already said what I think is happening earlier.

“ To work, the material still requires being heated to 20.5 degrees Celsius and compressed to about 145,000 psi”

Very useful :-) I know people go searching for reasons when the SP drops but that one takes the biscuit!

Because the warrant holders want a quick return on their money! Obviously thats going to creat some instability / panic in other shareholders too. It’s a time to remind yourself of the fundamentals… nothing has changed in that regard, we just had a few teething troubles which have already been addressed.

We had 50 million warrants taken up at just over 6p, those people would have been hoping to make a good return on them but they will certainly want to ensure that they get some kind of return. I’ve been through this before with AIM companies that had to issue a lot of warrants along the way… at some point it will come back to bite you. The share price will recover in time, take advantage if you can imho!

On the plus side, it looks like I’ll be able to transfer a lot more shares than I expected into my tax free ISA next month!

In Africa there is no such thing as “fast approaching”! Unless you’re being chased by a lion maybe :-)

We are going to be seeing the effects of the warrant shares being sold off for a while. You can see there are plenty of buyers out there for them. If I had the spare cash I’d be buying too!

Leon said “ Guidance for FY2023 will be updated following the completion of the initial expansion of the cobalt refining circuit currently underway as soon as possible but no later than as part of the release of the Company's interim results expected on or about 20 March 2023.”

So we should hear something in the next couple of weeks.

I noticed they were registered as a UK company until being dissolved in 2021, the registered company address was a terraced house in Walthamstow and then a trading estate nearby… not exactly re-assuring either! :-)

Here’s the previous report I remembered:

https://www.lusakatimes.com/2022/06/01/uae-investor-pledges-to-invest-over-300-million-into-copper-and-cobalt-processing-plant-in-mufulira/

Blue Star…. Blue Square…. Hmmm :-)

Having taken another look at that website for DMG, I’m not entirely convinced it’s genuine! Apart from the several spelling mistakes (DGM instead of DMG?!) it has absolutely no detail about the company. It seems to be connected to Blue Square (see the email address) who were in the news last year saying they intended to invest $300m in processing the dumps.

I guess this is how blue square got their shares in Jubilee:
https://www.investegate.co.uk/bmr-group-plc--bmr-/rns/agreement-with-blue-square-minerals-limited/201806040700060364Q/

Maybe some LTH’s remember this? To me it has the whiff of a scam about it but I could be wrong!

Cheers Frog!