Member Info for SeisNav

He accused that director of lies and deception, a highly qualified professional who was recommended to the company by its biggest institutional shareholder, someone well respected in the city. Would you let some anonymous nobody on the internet call into question your good name and just put up with it? I certainly wouldn’t. As for the rest he has consistently tried to misrepresent the numbers and has been corrected by more than one person here. Instead of defending his position he just tries to find another angle.

Nevertogiveup, you were clearly listening to a very different interview than I was, Ricus was clearly talking about Molefe and the success they had had in getting it set up as a proper mine. Yes obviously in an ideal world they would have drilled a resource first but the mine was already supplying Sable when they bought it... what should they have done, stopped all mining and drilled out the entire thing first or continue to mine and drill at the same time? They have already accumulated 2 years of lower grade waste ready for the processing plant to process.

"Someone else has bought millions of tons, and apparently has had no problem processing it, but we are allegedly the specialists at that?"

If you throw acid at rock in enough quantity then you can extract anything from it, that doesn't necessarily mean that it's the best way to do it. The more you can separate the waste from the ore, the more economical the process is. That is Jubilee's key advantage, pre-sorting before applying chemicals to extract the copper / cobalt.

Nevertogiveup, I suggest you go forth and multiply with all appropriate haste! He's no more genuine than you are.

Interesting to see that Makor have a new website and have acquired their own large scale license as well as working with other companies like Jubilee.

I also saw this very interesting recent interview with Ricus: https://youtu.be/al1NwM00DnU

Hubbology anyone? Locating a processing plant at the mine site....

If you want you get Boring on a short leash then genuine investors need to start reporting his posts.... remember how we got rid of Bushytailed after 2 years of utterly pointless deramping?

Sumo it doesn't need to rise much when you're just looking to trade the margins.

It's always interesting to watch who goes quiet once the share price starts to increase and they have nothing to gain. The usual suspects like SirBoring and Lootgaloot will be nowhere to be seen I'm sure of that.

One other thing that came to mind with the potential acquisition of Chambishi Metals, as well as the LWP and the Mufulira Project, guess which other project is close by.... Galileo's Luansobe project.

Eagle, Jubilee were reportedly in negotiations for Chambishi Metals, owned by ERG (Eurasian Resources Group) and mothballed for quite a while due to lack of feed. It's different to the nearby Chinese operation. It was mentioned by the Zambian President at one point that Chambishi would be re-opened soon by Jubilee but since then we've heard nothing.

It made sense from a strategic point of view because it's very close to the LWP and also the Mufulira S l a g project but with Mufulira status unknown maybe they are re-assessing. Of course there's also a possibility that the negotiations for finance for the LWP may include the purchase of Chambishi too... thats just speculation though.

I take back what I said... there are at least two idiots on the board who recommended Borings lie filled post!

Say it how you want Chatmandu but it was perfectly clear to me. I never called anyone an idiot so I don't know who you are quoting.

You obviously read it differently to me Chatmandu, it seems perfectly clear to me what they are saying. There is no reference to an immediate dividend

"in future" "in due course"

He also said in more than one interview that any dividend needed to be sustained and not one off. Some people just see what they want to see.

There was no mention of a special dividend. Leon specifically said that any divided needed to be a sustained one and not a one off thing. That doesn't mean that they couldn't do some share buybacks at some point. That makes more sense to me whilst the share price is so low. Who knows maybe they will do something after the sale has been finalised and the US$25m is safely in the bank... wouldn't that be nice for lootgaloot, looking on from the sidelines!

Thanks Gray, same to you and yours!

Thanks Gray, good to see we are in the same ballpark for PGM/chrome. I'm assuming costs of US$6000 for H1 which may (or may not) be optimistic! Will have a look more into the costs at some point. As you say it's only guesswork at the moment!

I saw that eagle had done some rough calculations for the coming year and potential future valuations. I'm not prepared to go that far until we get a better picture of things in Zambia but I have done a few rough calculations for end of H1

I estimate a gross profit for H1 of ~ US$29m, comprising US$21m for PGM's and chrome (the reassigning of costs between the two makes it difficult to estimate individually) and US$8m for copper.

In addition we have the US$25m upfront payments from the sale of the SA operations and ~US$14m from the disposal of non core assets and the 10m tonnes of waste from the LWP.

I haven't really looked too closely at costs though (best done with a side eye and a squint I find!) anyone looked at that or done any comparison calculations?

On the plus side we have about US$7m of tax losses to offset against future earnings in Zambia, which we no longer had in SA.

Merry Christmas to all the LTH's and BAH HUMBUG to the rest! May 2026 be the year that we finally see delivery in Zambia.

Some decent points Gray although I disagree that the LWP will be largely sulphides, I think it will be the opposite, largely oxides. It's unlikely that they would have been finding sulphides in the near surface.

If Molefe does turn out to be a significant resource with a 10 year + mine life then that should be a significant driver of value. I tend to keep an eye on the satellite images of the site and although they are low resolution images I can see that within the last couple of months they have been excavating a new area between the original pit and pit 2 which is currently being worked. This aligns with Leons messaging that they are potentially looking to expand some of the pits into one superpit. It also explains the expected step up to 8,500 tpm in the New Year.

Cost per tonne of copper is key to how profitable the business will be. As the production steps up the fixed cost dilution should bring costs down significantly so I await the next set of results with interest. With oxides making up the majority of current production, the revenue / tonne should be much higher than last year. I guesstimate revenue for H1 of more than US$9,500 / tonne and if copper prices remain where they are currently we should see well over US$10,000 / tonne in H2

How exactly do you 'manage' someone who is bribing court officials to issue unlawful judgements? The big mistake in my view was in settling with him in the first place. They should have just let things take their course through the courts. He was relying on Arc wanting to push ahead with the JV and so settling with him to get him out of the way. Having gotten away with it once he thought he could chance his arm again.... and again.

Thanks for the update Small Holding, it's hugely frustrating that a chancer like Mushinge can derail what should have been a fantastic opportunity to prove the value in the licenses. Personally I hope Arc sue him for everything he's got, including the licenses he was given in the settlement agreement. I don't doubt there are other companies waiting in the wings for the court cases to be settled.

I hope that with Remy replacing NvS we might see a lot more public shareholder engagement. Whatever you think of NvS, his approach to dealing with investors has not been well received and a change is probably well overdue.