Member Info for SeisNav

Speaking of Cobalt, I note that its up another 5% today…. Nice time to start producing some!

Regarding Mopani, the fact is they are extremely strapped for cash, struggling to pay their bills. They need to generate income and working with Jubilee is an obvious way to do that. I wouldn’t be surprised if they eventually bring all of their processing capacity back online, with Jubilee running the plants as they do with chrome in South Africa. Don’t forget that as part of this MOU they have been given access to the Mufulira tailings dam and s l a g so this is more than case of Jubilee utilising some old plant… I think there is definitely a bigger picture there which could involve cobalt production. To my knowledge they haven’t produced cobalt at Mopani in over a decade… it seems too much of a coincidence that with Jubilee now onsite they announce that they will be restarting cobalt production next year!

Reading up on the Mufulira tailings dam, there are court actions being brought by local farm owners for pollution of land and water sources… another reason to get Jubilee involved and at least show they are trying to remediate the problems.

HH >> MM :-)

I guess he knows as long as HH remains in power the Zambia gravy train is over for him. He’s likely to loose the corruptly obtained licenses he already has. At least I hope he does!

From WH Ireland note:
"Copper production through Sable and Lechwe is dependent upon the recovery of raw materials (copper oxide and sulphide concentrates) from the tailings processing plants at Ndola, Luanshya, Kitwe (and Mufulira in time). This copper was previously discarded as waste – how will Jubilee recover the copper (and cobalt) previously discarded?

Jubilee has conducted extensive metallurgy and applied its high-level thinking to recovery. After discussion with Jubilee, we understand that processing of the tailings will be by: i) a pre-classification step to remove the fines as these contain copper oxides; and ii) then floating the coarser fraction to produce separate copper oxide and copper sulphide concentrates. Some of the feed can be pumped to Mopani’s old copper concentrator (once refurbished) for further upgrade to the sulphide-rich stream and a saleable concentrate."

So Jubilee plan to get early production through Mopani at significantly lower cost and use the money to help finance the building of the copper concentrators.

Personally I think with Mopani announcing the resumption of cobalt processing next year, the chances are Jubilee will be the driving force in that... the deal could turn out to be much bigger than initially announced. I guess we will have to wait and see.

No problem. Maybe you were confused by the change in status of the Northern Zaco license, 23004, which recently had a new 23004-HQ-LPL application appear on it. My take on that is the Cadastre Dept. are marking the licenses which need priority attention, quite a few have appeared in the last few weeks and most of them are due (or overdue) for renewal very soon. I could be wrong but that’s what I think anyway.

I’ve got images of that area of the cadastre going back more than a year and it was always marked as a restricted bidding area.

To be honest I don’t see any changes to that license. It looks the same as it has since I first looked at the cadastre. That area is a forest I believe so it may be protected. Apart from a couple of very old small scale mining applications I haven’t seen any other applications there.

“My chart” is the actual data. It’s showing percentage change in SP for each of the 3 companies and percentage change in Rhodium. Those are the facts, not my interpretation, how can they be flawed? As I explained THS performed better due to higher Rhodium content. SLP and JLP have been closely following each other since the start of the year. Yes there will be fluctuations but the trend is the same. We results for FY2022 showed a year on year drop in earnings of 37%… do you see that in the SP?

Of course everyone is entitled to a view but when it contradicts the data then you have to wonder….

Happydays, I’ve put the evidence there and yet you chose to ignore it. I’ve assumed from your past posts that you are trading the share. I have no issue with that but don’t try and take the p*ss here please. It’s obvious to anyone that our SP is following the basket price, copper and cobalt are not even in the equation yet.

If you want to know why the SP is dropping you just have to look at the PGM basket.

Here’s a comparison of JLP, SLP and THS and the Rhodium price since the start of the year (percentage change). THS benefitted most from the higher Rhodium price because it accounts for 12% of their basket, considerably higher than ours. Now the Rhodium price is dropping their SP is falling too, more in line with JLP and SLP. There is nothing sinister going on.

https://tinyurl.com/y23hzt8t

Once we have established copper and cobalt production our SP should be more insulated from fluctuations in one particular metal.

Not in the least surprised….

https://twitter.com/NavSeis/status/1562058020774887424?s=20&t=u9O0MIvXgp7Y2gkwl3I5MA

The keen eyed might have noticed that “Central African Renewable Energy” has applied for the licence immediately to the north of the Zaco licence…. Something tells me he’s unlikely to get it!

Thanks Jonah, yes with the rate that we can chew through tailings now those reserves will be getting used up pretty rapidly. I’m sure they will have no problems sourcing more material but it would be nice to see some more acquisitions or supply contracts being announced. Also an update on where we stand with reserves would be good.

I realised I didn't include the more than 3 million tonnes of tailings which we acquired with the Hernic (now Inyoni) operation, so here's an updated version:

https://tinyurl.com/yu4xaev6

He also wants to eliminate corruption in the system which is why they audited the Cadastre system. I'm sure they are keen to move things forward as soon as possible, but to extract full value from the mining licences they have to ensure that the people owning them are not just sitting on them with no intention to invest in exploration. Short term pain for longer term gain.

https://tinyurl.com/eunmz4u2

I'm finding it increasingly tricky to keep track of what is going on with Jubilees various operations (my memory isn't the best) so I've put together a brief summary of what I think the status is. There are a few things which I'm not sure of so if you can fill in the gaps or correct any mistakes then please do so.

I’m sure excitement will follow some positive drill results. Imagine if the share price is lifted by KCB results before we get confirmation of the Anglo JV…. All that work the likes of Ella/Peggy/Travelcard/Etc, have been doing to try and suppress the share price will have been for nothing :-)

My feeling is that Ruffles “additional good news” is likely to be the announcement of the Casa deal being finalised. We should find out in the next few days. No company called Regency Mining has announced the purchase of Casa so my guess is it’s still in the legal process and we can’t yet announce anything.

Regency Mining is a registered subsidiary of Regency Silver Corp., registered on the Canadian stock exchange. I think they are the most likely purchasers.. they also recently took on legal advisors who specialise in mergers and acquisitions. Not concerned about it being late, at the end of the day its a side issue compared to the Anglo deal.

Frog I agree that communication could and should be better, that’s something to address directly with the company at the next AGM. I have sent several email inquiries to the company and never once even received an acknowledgment…. That is not acceptable.

As for company performance I’m perfectly happy with the progress made and expect another re-rate in due course. If you can’t afford to wait (or don’t have the patience) then that’s entirely your own prerogative. I can understand the frustration in the sort term but I think people selling at this stage will be kicking themselves in a year or two… just my opinion.

“Greenfield projects to boost the production of key commodities are scarce,” he said. “Minerals like nickel, copper, cobalt and platinum group metals are likely to experience supply shortages in the not-too-distant future if new projects are not initiated soon.”

https://www.fmdrc-zambia.com/fresh-projects-are-needed-for-mining-to-meet-demand/

Hold my beer….