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https://embeds.audioboom.com/posts/8090966/embed/v4

Just a short mention about the new chairman but it was noticeable he mentions Mr Olivera’s M&A experience.

Presumably they mean signed subject to the final boxes being ticked. Personally I wish Arc had waited until everything was squared away before announcing the deal, as Anglo seem to be doing. It would have had more of an impact both companies announcing it together. Of course you can understand the desire to get the news out there after so long! Anyway the result will be the same in the end.

One good point they make in the note, even if they don’t discover any ‘tier 1’ ore bodies, any smaller deposits could be substantially owned by Arc. It’s inconceivable to me that with all the evidence we’ve seen (and I’ve spent many hours looking at it!) there are not sizeable deposits there. For Arc it’s a win-win I think.

The last year has been one of consolidation. Inyoni was not in production for longer than we had been lead to believe. Roan has been hit by Covid related delays. Personally I’ve mentally just written it off as a necessary step to get us to the next level.

I realised today that I had over-estimated the FY22 earnings because I’d misunderstood the PGM oz. estimate for the year, I’d assumed the 43,000 oz that Leon talks about was just for Inyoni but in fact it’s the combined total for Inyoni and Windsor. When I re-calculate the earnings for the year to June 2022, it comes out to about US$84 Million. That’s about US$9.5 Million short of the previous years total.

The second half of this year we should be firing on all cylinders with Copper and Cobalt coming online and shifting focus to the North of Zambia and possibly the Eastern Limb in SA. But to be honest I can understand the lack of momentum in the share price at the moment. It certainly doesn’t make me want to sell up though… these kind of opportunities, to get into an entirely new industry at the ground level, don’t come along very often and I’m not going anywhere!

No more insight… :-)

I think the point is Baron has no more insight into the prospects of Arc than anyone else. It all comes down to either finding a large ore body or not finding one and the only way to know for sure is to drill. Clearly Anglo are convinced there’s a very good chance of finding one (or more) and they will have much more detailed information to look at than we have. We get a free carry for the duration of the drilling, we are increasingly cash rich…. The downside from here is very limited and the upside is potentially life changing. You pay your money and take your chance….

Dorfan, one of the attendees at the General Meeting said that the assay results from Cyprus had been received a couple of days previously so it all depends on those but I expect we should be hearing something on that pretty soon, one way or the other.

Very positive RNS for Caerus this morning and a possible opportunity for Jubilee to supply copper direct to a European battery manufacturer

https://www.lse.co.uk/rns/CMRS/alliance-with-ev-metals-group-clbmxzarxcw35ub.html

Peggy haunted these boards for many years before (allegedly) selling out right at the bottom of the market. Now he’s come back to tell us how smart he is :-)

You working as a double act these days Peggy?

https://seisnav.blogspot.com/2022/05/some-thoughts-on-arc-minerals-licences.html

I've added a few images at the end of the blog which show how the EM anomalies fit with the faulting between Fwiji and Cheyeza. Looks like there are at least 3 decent size targets along that fault line and we might have been a touch to far south on the deeper drilling at Cheyeza. It will be interesting to see how Anglo prioritise the drilling... so many targets!

Ah I see it’s the term remaining from 31st December 2020 so warrant expiry works out to be 16th June 2022 I think. That makes sense if it was a 2 year term originally.

That video clip was recorded in March. In May we find out that the Cobalt circuit in Sable is unexpectedly being made ready and will start commissioning in June… Now I’m not saying there’s a direct connection, but you have to wonder!

It’s not just a photograph, it’s a video clip and the Minister for mines and minerals was clearly offering for us to get involved in processing the copper and cobalt rich ‘black mountain’ dump at Kitwe as well as the other dumps (presumably the ones at Luanshya and Mufulira). All that based on what he saw at Inyoni and in particular how the local communities had been involved. I’d say that was a pretty significant endorsement of Jubilee and a desire to do more business with them.

https://www.rns-pdf.londonstockexchange.com/rns/5614N_1-2021-9-30.pdf

Page 59 has the 3p warrants issued on 17th June 2020. Strange that the term is listed as 1.46 years, maybe I'm misunderstanding that but shouldn't that mean they expired or were exercised already?

Two of the things that the ‘New Dawn’ government has been promising is increased copper production and job creation, especially for the youth. Getting Jubilee involved would help with both of those aims. With the dump being so rich in cobalt (and copper) it wouldn’t be a problem to truck it down to Sable to be processed either, at least until they get things moving in the North.

Well I certainly didn’t expect to be able to average down again, but with this crazy SP I could so I did! Who guessed we’d be back in the 3’s after that news.

Just a thought, could it be that the new Cobalt circuit at Sable is being used to test material from Black Mountain with a view to processing it later at the northern operation?

Charles, thanks for that, I thought it was odd that the news article mentioned Chrome, I guess they actually meant Cobalt.

An interesting summary of the history of Black Mountain and it’s unrealised potential:
https://humanities.unza.zm/index.php/JONAS/article/download/462/408

You can see why they are so keen to get some kind of professional operation there at the Black Mountain. I don’t know how much direct benefit Jubilee would get from getting involved there, I guess it depends on any PGM content in the chrome, but it could lead to other opportunities.

https://www.lusakatimes.com/2022/03/16/chaos-has-characterizes-operations-at-the-black-mountain-in-kitwe/

https://images.app.goo.gl/sdcnWVP2eGMczMhc6

Interesting little video clip of Leon with Paul Kabuswe the Zambian minister for Mines and Minerals, at Inyoni. The video opens in Facebook.