Member Info for SeisNav

This is going to wind our long term deramper RIGHT up! Love it! :-D

I wonder if that means AA have received assurances about the licenses from the Minister of Mines… they must be very confident of things progressing to be recruiting. Maybe the paperwork has already been fast tracked in the background and the licenses will be magically sorted as soon as the Cadastre re-opens…. We can only hope :-)

Nice find! That’s the first time I’ve seen Anglo American recruiting for any jobs in Zambia. I thought maybe it was a scam because it’s not listed on the main website but I just checked on LinkedIn and it’s there:

https://www.linkedin.com/jobs/search/?currentJobId=3255510963&f_C=7893%2C28297%2C14453088&geoId=92000000&keywords=Senior%20Project%20Geologist

Looks like things are progressing nicely… closing date 20th September so they aren’t hanging around :-)

https://tinyurl.com/2vz2ukmm

I’ve updated the project overview by going back through the RNS details to find the missing information. The main additions are the beneficial interests for Lechwe and Elephant which I hope are now correct.

This is from the WH Ireland note from December:
“ Details of the exact process flow sheet are not available from Jubilee, but from previous work done at site, and high-level conversations with management, we expect production to be a sequential process with various recovery methods brought in line over a defined timeline and we expect commissioning in 2023 for zinc and 2026 for lead. Vanadium production is still a possibility, using an innovative resin recovery process defined by Jubilee, but is price dependent. For now, we ignore the potential for vanadium in our model.”

I imagine all of that is dependent on the various parties agreeing on an acceptable plan being in place to ensure things are not made worse in the short term by the processing of the dumps.

Bad news for Caerus shareholders but as far as Jubilee is concerned maybe for the best that we are unlikely to get involved now. Plenty to focus on in South Africa and Zambia with the possibility of expanding into DRC.

Rhodium accounted for 57% of our basket value in 2021 (its now around 44%) and the price of Rhodium has pretty much halved since it hit its peak. That has had the biggest influence on the SP in my view. Try plotting our SP along with the Rhodium price, the correlation is very strong.

I checked the latest satellite images over the weekend and some little shiny white dots have appeared on PL135 (the license adjacent to zone 5). I'll check the next image in a couple of days to see if there's any movement. One of the dots is exactly where you would expect it to be, just on the anomaly high from the geochem.

An RNS to say we intersected mineralisation on our maiden drill would be nice :-)

https://tinyurl.com/mr3d2kc2

Now we have confirmation of the expected 10,000 T/a of Cu I thought I'd share my current forecast for the FY2023. For Cu and PGM prices I've used the average numbers since 1st July. For Cobalt I'm using the current price. I'm using the stated production figures for Cu and PGM's and assuming 10% of the Cobalt design capacity (hopefully that's very conservative). Costs I've left unchanged. Hopefully we will see the Cu production cost come down now we are in steady production. The actual estimated earnings figure is currently around US$93,000,000. I'll reassess once we get some firmer information on Cobalt production and of course, see what happens with commodity prices.

Great news to have Leon confirm we are now at target capacity and expect to achieve 10,000 tonnes Cu for FY 2023 and 12,000 Tonnes / annum going forward. Congratulations to the team for a fantastic achievement. I'm sure all of the lessons learned from Project Roan will result in a smoother and faster roll out of the other copper concentrator projects.

Nelson, the last stated Cu production costs were US$4931 / tonne (including approximately US$300 / tonne of Cobalt credit) but that cost should come down with economies of scale now we have ramped up to full capacity. Leon previously stated that the Cobalt circuit would not become operational until they had achieved a steady throughput at Roan, now that has been achieved they will hopefully start Cobalt ramp up pretty soon (as stated in the RNS). The design capacity of the Cobalt circuit is 1200 tonnes / annum but the actual production very much depends on the amount of Cobalt in the feed... we have no idea yet what that is going to be.

Assuming we do produce even a fraction of the stated Cobalt capacity this year we could conceivably make back the investment costs of Sable and Roan in the first 12-18 months of production! Show me a copper mine that can do that!

https://seisnav.blogspot.com/2022/07/arc-minerals-in-kalahari-copperbelt.html

I've added a slideshow which shows how our Cu-Ni anomalies and current drill targets fit with nearby discoveries. I think it helps to see that the anomalies overlay the boundaries between the formations. It's along these boundaries that the other discoveries are located. If you click on the 3 dots below the slideshow you can access the controls, including full screen, which might make it easier to see.

Sand cover is typically around 60m or so in that area from what I've read, the core starts from about 90m so that puts an upper limit on it.

The original soil geochemistry that we inherited highlighted Cu and Ni anomalies

A stratigraphic map of the geology:
https://twitter.com/NavSeis/status/1565632352952500225?s=20&t=Ip-vN-mdOkwOQyyF1vVLWA

To my untrained eye it looks like we haven't reached the contact yet... any geologists out there care to comment?

Impressed they are already into the diamond core drilling, that went much faster than I expected!

What has that got to do with the price of fish? Companies are scrambling to get their hands on any potential new copper assets and we have an absolute whopper! Get with the program stevo!

Ah, ok. I’m only really checking the area close to our licenses. Interesting to know though, it shows they are still working on updating the Cadastre.

Hello Yas, I don’t see anything different close to our licenses, which area in particular are you looking at?

I got the impression its meant in the next few days. You seem determined to see the negative side Sumo and I can't really understand why.

It seems like the main gist is no need to panic… everything is on track and we can expect an update on Zambia in the very near future.