Member Info for SeisNav

An interview from today, partly about mines, cadastre etc. I must say he appears a very genuine guy, trying to improve the lives of the people.

https://www.facebook.com/upndyouthszambia/

Interesting that he said they are actively seeking to hook up Zambians with exploration licenses with investors.

Yes on the whole it all looks pretty positive. The only negative I heard was the power issues in South Africa affecting part of the chrome production, presumably with knock on effects on PGM production. I had to listen again to make sure my ears hadn’t deceived me, Leon did indeed say that Cobalt production at Sable would ramp up to 1,200 tonnes / annum…. That is big news! He also mentioned a dedicated Cobalt circuit for the Northern area which will be multiples of that.

Here’s the presentation in case you missed it / watch to re-watch.

https://youtu.be/mnzi7S8A-uI

Will need to watch that back again to pick out the details but a few things stood out:

Negative:
Power outages have had significant effects on production in S. Africa, however processes being implemented to decouple from the power grid when necessary in the future.

Positive:
New process to reduce requirement for acid in leeching by 35%, a reduction in overall production costs of about 16%

Leon didn’t give any numbers on Cobalt production just yet, but I’m pretty sure he said they would start modestly and ramp up to 1200 tonnes per annum… if that is true it’s MASSIVE.

Copper production costs stated as currently US$4,500 / tonne, significantly less than previously stated ( US$4,900 / tonne ).

Now looking at potentially 2 facilities in northern Zambia to give production up to 40,000 Tonnes /annum with early production to bring in revenue.

If you have registered with ‘investor meet company’ you should get an email with the link to join

They have started updating the Cadastre again…. Tick-tock :-)

Thankfully I have him filtered anyway so he can say what he likes, as long as I don’t have to read it!

I’m sure Homey is trading around the results as well as a LTH. Probably shorting in expectation of the drop which is why his comments are always negative when results are released.

The final results are pretty much where you would expect them to be based on the interim numbers, no great surprises. I think the key thing is to understand WHY last years results were more disappointing than expected. The Inyoni expansion affected production to a much greater degree than we were lead to expect. They have disguised this in the PGM ounces produced, which on the face of it look pretty good, but in reality a large proportion of the ounces sold were ‘in progress’ material which was sold at about 25% of the normal basket price. That is the key reason why the numbers were lower than expected and with the expansion behind us we can look forward to much healthier numbers going forward, even with a lower basket price. My estimates have us set to almost double attributable earnings in the next FY, and that’s with minimal Cobalt production.

I’m hoping Leon can give us a ball park figure for expected Cobalt production this afternoon, that will give a much clearer picture of what the numbers will look like for the next period.

Don’t worry about the current share price it will take care of itself in due course. It’s been much lower than this and I wasn’t concerned because I believe the underlying assets have the potential to be world class. I’ve done my homework and have no doubt that Anglo feel the same way. After all they identified these targets back in the 90’s but left Zambia for political reasons before they had a chance to explore them. They won’t let the chance slip by again :-)

Here’s my blog on the assets for anyone who may be interested:
https://seisnav.blogspot.com/2022/05/some-thoughts-on-arc-minerals-licences.html

KEvB talked to Arc management and quoted them as saying “ All parties want this done asap”. Not both parties… all parties, suggesting that includes the government.

Kabwe tailings stabilised in cooperation with others but no plans currently to process them. Copper strategy has overtaken those plans.
In advanced discussions to double Cu/Co feedstock in Zambia to 600 Mt
Cobalt circuit coming into production "as we speak"
Targeting 35,000-40,000 Tpa of Cu, no indication of Greenfield / Brownfield option in Zambia or S. Africa.
Dividend on the agenda with the board but not until next phase of capitalisation completed.

Direct link to the podcast:

https://www.thesundayroast.net/podcast/episode/50cabb33/s4-ep103-the-sunday-roast-featuring-leon-coetzer-ceo-of-jubilee-metals-aimjlp

The like of Ella are not aiming at the LTH's they know very well we are on to their game. They are trying to stop the casual investor who might not know so much from investing. Filling the board with 'questioning' negativity is a standard approach. You might like it but the majority certainly don't and treating them as genuine investors only reinforces their position.

“ I think you provide a valuable contribution to the board”

Strongly disagree :-)

https://twitter.com/Trisseswe/status/1582998631749423105?s=20&t=h1gwqXgzP56bgH_DEV_-eA

Yes the website is definitely not up to date. I think those other licenses may relate to the Kalaba area which was relinquished in the settlement. Whether or not MM will actually be able to apply for that area given the recent announcements on number of licenses is another matter!

19906-HQ-LEL (Handa Resources Ltd) is the key license based on what we know at the moment. It contains Cheyeza East, Muswema and Lumbeta targets. There are no issues with this license.

23005-HQ-LEL (Zaco Investments Ltd) contains one target which may be an extension of Muswema to the west. This license is up for renewal and it would be quite easy to give up half of the license area without affecting the target.

23004-HQ-LEL (Zaco Investments Ltd) This is the larger Zaco license and contains the wider Fwiji target area that falls outside of 24958-HQ-SEL and the Nyambwezu target to the north. There are various other smaller targets yet to be investigated. This license is also up for renewal and in worst case we might lose half of this area but without affecting the main targets within it.

24958-HQ-SEL (Zaco Investments Ltd) is the small area which contains the shallow high grade drills at Fwiji. There are no issues with this license.

28700_HQ-LEL (Afrimin Resources Ltd) contains several targets around Jatuma, on a similar scale to Muswema and Lumbeta. The ownership of this license is not clear, however I am of the opinion that it is still within our ownership. Nick stated in the last investor call that our tenements cover an area of some 800 km2. This license needs to be included in order for reach anywhere close to 800km2.

All of those licenses that have been marked are either overdue for renewal or due very soon. They have been marked as priority. Whoever told you those licenses are going to be taken away is talking absolute rubbish. I would use a stronger word but it would only be blanked out.

https://twitter.com/NavSeis/status/1582324897476321283?s=20&t=ujfzslGPkchKqtV8pN6Pag

https://twitter.com/NavSeis/status/1582324731331895296?s=20&t=ujfzslGPkchKqtV8pN6Pag