Member Info for SeisNav

NorEscO do you do email and telephone scams when you're not infesting message boards? I've reported you for persistent deramping and asked them to remove your account. I encourage all decent board members to do the same.

There have been rumours of Anglo American looking to buy out Khoemacau mine, which is very close to our licenses. Nothing definite yet though.

Phil do you not think Magna might have taken out patents on mirror based DMS? Being able to fit a fully integrated system into pretty much any vehicle (you could even have it on a motorbike if so inclined!) is absolutely massive and will put us way ahead of any competition in my view. Why wouldn’t you want to tie into that kind of deal. It may even be the first step in Magna taking a controlling interest in the company.

As for the 8% that was covered in earlier posts… have a read.

I don’t see it being a massive market for cars but for commercial vehicles it could be massive as a retro fit option.

Good results from Botswana should also have a positive effect on the share price and that could be at any time. Of course its just a sideshow to the main event, which given that Anglo are hiring senior staff for Zambia and hosting / chairing a conference there, suggests to me that the deal is done in all but ink on paper.

Here’s the brief video of the Magna / SEE mirror.

https://www.youtube.com/watch?v=5jcMMYqayVw

https://www.miningweekly.com/article/sibanye-interested-in-zambias-mopani-copper-mines-froneman-2022-10-05

It’s funny watching the filtered posts pop up whenever any good news is mentioned! Good news such as 3 million shares currently valued at US$7.5 million :-)

Tingo shares are back where they were when we acquired them! Now worth US$7.5m. I can’t see any obvious reason why apart from the US markets are well up today.

Roy, here's a leaflet which details the mineral royalty tax bands for copper:
https://www.zra.org.zm/wp-content/uploads/2021/08/Mineral-Royalty-leaflet.pdf

This is the change that was reported in the news:
"The tax will now apply on the incremental value in each adjusted price band as opposed to the aggregate value when the price crosses the respective price threshold."

FQM share price went up nearly 5% on the news so hopefully it's good for us too... albeit on a much smaller scale.

Could this be the trigger?

“ And Minister of Mines and Minerals Development, Paul Kabuswe says formalization of artisanal and small scale mining is in line with the Mining Policy which will be launched soon. Mr Kabuswe disclosed that the policy is complete awaiting cabinet approval …”

https://www.lusakatimes.com/2022/10/01/govts-move-to-maintaining-policy-and-tax-consistency-will-improve-production-chamber-of-mines/

"To attract investment and ensure increased production, Musokotwane said the government planned to restructure the mineral royalty tax with regard to copper."

A little snippet from todays budget, which could be very relevant to Jubilee.

I just did a quick re-calculation of estimated FY2023 earnings based on average metals prices since 1st July:
Assuming 10% of cobalt production capacity: US$ 92 million
Assuming 100% of cobalt production capacity: US$ 126 million

Getting an update on the cobalt circuit in the next quarterly RNS (hopefully in the next couple of weeks) could indicate where in that range we are likely to be.

Other unknowns:
Copper production costs could be substantially less than previously stated now that they are in full production.
The effects of the load shedding in South Africa are not accounted for. Most likely this will be additional fuel costs rather than lost production time.

However you look at it, barring unforeseen problems, Jubilee is generating substantial profits this year which frankly make a mockery of the current share price.

This might have been posted before but I don't remember seeing it. A South African Fund which holds Jubilee, quite a nice summary, if a little out of date. Interesting that it states Jubilee has secured 600 million tonnes of Cu tailings... maybe a mistake?

https://cogitocapital.co.za/recent-results/

"Ingenious Business Model:
Compared to deep-level mining, metals recovery from mine-waste is a low risk, high return business. Mine-dumps are easily measured and accessed. It requires relatively small labour and electricity inputs. Returns are high as the capital intensity of securing mine-waste and installing processing plant, is relatively low. Competitive barriers to entry are high, as significant technical ability is required to design each processing plant, specific to each dump’s metallurgical composition, and then ensuring volume efficiency. Supply risk is reduced by having multiple operating sites, and fixed price off-take agreements. Regulatory risk is limited as operations occur at existing licensed mining facilities."

If there was any exploration going on in Zambia the company would have informed the market already. I think they are just waiting to hand control of the exploration campaign over to Anglo, who will already have identified their own priority targets independently of Arc. It would be a waste of our resources to start drilling when Anglo have committed to such a large scale campaign already. I think they are just focusing on Botswana exploration while waiting for Zambia to play out.

Also the TMNA shares in payment for the loan note are currently worth about US$3.7 million more than at the end of the reporting period.

I don't see any obvious signs of activity at the first drilling area on the last couple of satellite images. It's difficult to be sure because of the resolution but I think the initial 3 holes are already completed. I can't see anything new on the second license area yet either. Maybe waiting on assay results or modelling the geology based on the cores? At least I've got something to look at while I wait!

I wouldn’t pay any attention to these muppets, many of them are likely the same person, they always post in clusters which is a bit of a giveaway! I guess you don’t have to be smart to deramp, just persistent :-)

From the RNS of 24/08/2021:

“The Agreement holds the benefit to Mopani to gain additional copper units for its smelting operations via a first right of refusal for off-take at market rates of copper sulphide concentrates produced by the Project, while all oxide associated copper will be refined by the Project to copper metal. This will be achieved by Jubilee refurbishing and expanding existing refining and supporting infrastructure at Mopani ("Targeted Refining Area") which is currently decommissioned and does not form part of Mopani's future business plan. ZCCM is a partner to the Project through its joint ownership of certain of the copper tailings material.“

RedRoy, you can find a comprehensive report for Glencore on Mopani from 2011 if interested:
https://www.miningdataonline.com/reports/Mopani-May-2011-TR.pdf

It includes a lot of information on processing infrastructure and methods, tailings dams etc at that time. From what I understand, the facilities Jubilee is interested in have been on 'care and maintenance' for much of the period since then, although with the poor state of Mopani's finances, I would question how much care or maintenance has been done!