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Putting that another way, assuming annual copper production of 12,000 tonnes and cobalt hydroxide production of 1,200 tonnes, there would be a cobalt credit of US$831 / tonne (less costs) applied to the copper tonne.

Having looked again at the last presentation for the 2022 final results I see that the 1,200 tonnes / year capacity for cobalt production is for cobalt hydroxide and not contained cobalt (see page 3 of the presentation). I had been assuming that the 1,200 tonnes was contained cobalt. This will make a massive difference to the revenue assuming that is the case. According to the WH Ireland research note, contained cobalt within the cobalt hydroxide is expected to be in the order of 20% and Jubilee could expect to be paid 80% of the cobalt price for that contained cobalt.

A quick and dirty calculation based on current price: 51955 x 20% x 80% = Revenue of US$8,312 / tonne. Production costs are still unknown. Not bad but certainly not the huge earner that we might initially have believed. It makes more sense now why they would chose to classify it as a by product of copper production rather than a separate revenue stream of its own. Anyone going to the AGM, it would be good to get clarification on that point and an idea of what production costs might be.

Jubilee twitter on fire today :-)

https://twitter.com/Jubilee_Metals/status/1591085621300248576?s=20&t=H99lyWuwC0-DqNqGvoTWpw

https://twitter.com/Jubilee_Metals/status/1591027562771517441?s=20&t=qjl36sd4PVA1z0RFkZBIEA

Very good news for platinum / paladium prices as well as the environment.

From the last annual report:

“ In November, Arc acquired a 75% interest in the Virgo copper project in Namibia from Kopore Metals Limited.”

Nicks mind was clearly elsewhere when he wrote that!

It could be Nick was talking about a longer term strategy, after all if things go to plan with the current licenses Arc could be looking at a serious offer to sell our 30% interest. Cash to fund further exploration then wouldn’t be an issue.

It will be interesting to see the Cadastre updated with license applications after the 21st, there are at least two further licenses that might be highly advantageous to acquire for the JV.

…they do protest too much :-)

It’s amazing how much they can talk without actually saying anything of value. Thankfully I made a career in geophysics and maybe I can read the data a little better than the likes of… well you know who!

If they want any help in understanding why the next Sentinel / Kansanshi / Lumwana is almost certain to be found on our licenses I’d be happy to explain it to them in words of one syllable. All they need to do is apologise :-)

Let’s face it he’s got a 100% record so far so if he says the deal is happening regardless of what happens on 21st then why would anyone doubt him!

Ella / Travelcard / NorEscO / Peggy on the other hand… zero per-centers to a man ;-)

Speaking of Ruffles:
“Nov 21st - Prudence (3). Main deal very much on #ARCM”

Sort of suggests that there are secondary deal(s) being done. Or that the main deal will be unaffected by the outcome of any new applications. Hopefully he hits the back of the net with that prediction too!

Wow, that post seems to have stirred the hornets nest! Unfortunately I can’t read what they have posted as I had to filter them all due to them being a bunch of ****s. However I’m assuming they all picked option 2:

You think Arc and Anglo will get the deal done and you share Arc / Anglo / Anyone who’s been paying attention’s opinion that we are sitting on one or more WORLD CLASS copper / cobalt assets.

Very wise :-)

1. You think Arc and Anglo will get the deal done but are not interested in more than that

2. You think Arc and Anglo will get the deal done and you share Arc / Anglo / Anyone who’s been paying attention’s opinion that we are sitting on one or more WORLD CLASS copper / cobalt assets.

Ella / Travelcard / Peggy / NorEscO and the rest obviously fall into category 2 although they are not going to admit it. After all what other reason could there be for continuously monitoring this board?

I would expect to quadruple my original investment in the next 12 months too, then again my average buy price is less than half the current share price! :-)

https://twitter.com/NavSeis/status/1589621473605750784?s=20&t=RLGFs-q4JkP3BEIWciosmg

If you don't know what the Lower Roan is, I suggest you do some reading pronto!

The only thing Peggy got ‘right‘ was finding the very bottom of the market when he sold out! :-)

Of all the people on here Peggy would be the very last person I would turn to for investment advice…. And that even includes NorEscO!

Thanks for the input RedRoy, always good to get the view of someone with relevant experience.

Yes the cobalt percentage is high, it just depends how difficult it is to extract from the glass matrix. My guess (and it’s only a guess) is that Jubilee are driving this, after all, Mopani have had these dumps for a long time and done nothing with them. It could be that Jubilee have already been doing work to come up with a method to extract the Cobalt profitably. We may find out more after the tender process concludes.

“Mopani Copper Mines PLC (“MCM”) is engaged in mining operations and production and as part of this endeavour, has decided to undertake the development and operation/maintenance of the Mufulira **** Dump Treatment Project (“the Project”) through Public-Private Partnership (“PPP”) on Design, Build, Finance, Operate, Maintain and Transfer basis, and has decided to commence the procurement process for selection of a private entity as the bidder to whom the Project may be awarded. MCM will contribute the **** dump that will be treated, while the Private partner will fund the project i.e., provide capital for the project, maintain, and operate the plant up until the plant is handed over to MCM and finance the Corporate Social Investment (CSI) Projects that MCM will implement. MCM will have exclusive rights to offtake all concentrates and cobalt salts that will be produced from the Project. MCM and the Private partner will agree on the profit share that each party will benefit from the project. The Private Partner will then hand over the plant and equipment after the concession period.“

“ The objective of the Project is to design and construct a plant to process the **** dumps to recover approximately 115,000 tons of copper and 30,000 tons of cobalt metals.”

You can view the tender here:
https://portal.mopani.com.zm/Details/3

There’s a link in the lower left to download the full version if interested.

Presumably he means Zaco and Handa, plus if you believe we still hold Afrimin as I do, there’s that one too.

https://www.nasdaq.com/articles/metals-copper-hits-six-week-peak-on-rumours-about-china-easing-covid-curbs

Yes I’m sure that’s the case, however in my opinion it must be Jubilee who will ‘win’ the tender. They have already demonstrated the ability to design and build in-house, and I don’t see this as any different to what they have achieved with Inyoni and Roan.