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Just added some more despite being at my comfortable limit…. This is too good to miss out on!

I’ve spent quite a bit of time looking at all the data we have and trying to make sense of it and I was going to put something together to explain my thinking. With all the excitement today I think I’ll leave it until things have settled down again! In short though I’m more convinced that Muswema / Lumbeta have the potential to be very big (and indeed may be connected). When Nick mentioned district scale potential in the last RNS I don’t think he was talking lightly!

Yes F79 but I think the point is that they have a timeframe with that 70% ownership to decide if they want to buy us out, if it goes beyond that they have to pay considerably more to buy out our 49%, or spend more on exploration and payments.

It looks to me that the JV starts off at 70/30 split and if they spend the required amount in phase 1 then they keep 51% of that…. Possibly giving them the option to buy out or 30% if they like what they see on initial drilling?

HH’s speech was pretty much a summary of what we’ve heard already but I must say I thought he came across very well. I think mining companies with be beating a path to his door if they weren’t doing so already!

The one thing that stood out for me was Wanblad congratulating HH on his commitment to root out corruption in Zambia, he sounded like someone with a vested interest in that! That might have just been wishful thinking of course.

The live stream has stopped but you can now watch from the start if you want to hear what HH had to say.

https://www.youtube.com/watch?v=uPDdn0XL-L8

In case anyone wants to watch!

Hakainde Hichilema tweeting:
“Determined to respond to high demand for copper and have an audacious goal to increase its annual production levels from the current 830,000 to 3million metric tonnes in the next 10 years. Ambitious, but we’re confident #Zambia can achieve it.” #MiningIndaba2022

Plenty of scope for Jubilee to contribute to that target!

I’m sure many long term holders will have watched Remy’s presentation at the 2020 Indaba but if you haven’t seen it before I think it gives a bit of insight into the company’s thinking.

https://youtu.be/IaX-EwZcMOw

I think there’s a danger of putting the cart before the horse. Although everything so far is pointing towards us having very promising licenses, with the potential for 3 major deposits (at least), the fact remains that the only way to unlock that value is to drill. No major is going to hand over hundreds of millions for as yet unproved resources.

HH is first to speak after the opening addresses on Monday. It would be great if he had some new projects to talk about!

I think you must be posting on the wrong message board!

By “cash burning” I presume you mean cash generating.

The blatant way they do it with absolutely no justification for a drop is shocking though. If you didn't see it happening over and over again on AIM it would be easy to be fooled by it.

It's also a chance for the savvy investor to add more as well! it works both ways.

From page 29 of the KR prospectus:

"Kabwe
The Company has a 11% royalty interest in the Kabwe surface secondary zinc, lead, and vanadium from previous mining at Kabwe in Zambia (the “Kabwe Project”) with no obligation or requirement to contribute to the costs of the Kabwe Project. Jubilee is the sole operator of the Kabwe Project and has full control of the operation and implementation of the project. Jubilee is currently actively engaged in copper refining through the Sable refinery near Kabwe which it acquired from Glencore in 2019. Jubilee has focus on copper production since the Kabwe refinery is copper purpose ready in a strong copper market. The zinc tailings at Kabwe are metallurgically more complex than originally thought and zinc prices have been historically volatile. The contribution from vanadium is challenged by the vanadium pentoxide price and the ability to recover the metal from feed. Consequently, the Company currently has no expectation of any royalty income from the Kabwe Project in the foreseeable future and its value was written down to nil in the financial statements for the year ended 29 December 2019."

From the ESG section of the company website:
"One of our key partnerships is with the Zambia Mining and Environmental Remediation and Improvement Project, a government initiative to reduce environmental health risks to the local population in critically polluted mining areas in Zambia, including the Kabwe municipality"

The World Bank is working in partnership with the Zambian government to tackle the issue
https://projects.worldbank.org/en/projects-operations/project-detail/P154683

This is much bigger than just Jubilee making their own clean up plan.

“ We promised to review the Cyber Security and Cyber Crimes Act. Abuses like Fake news, Cyber bullying, & malicious posts must be curbed so we can protect our citizens”

Hopefully that makes life more difficult for the crooks who have plagued Arc for the last year!

Looks like someone has a less negative take on the company than some here!

One thing I’ve learned on reading these boards for a while now… if it walks like a duck and quacks like a duck then you can pretty much guarantee it’s a duck!

More news on the way?

David Wood has estimated that for an area 50km x 50km around Trident area with 500m thickness, a conservative estimate of the copper which could have been taken into solution (and re deposited) is 30 million Tonnes. He also said that this process is a basin scale one which has already been mapped over at least 400km x 100 km.

We know the same process is happening all around our licenses too because of the copper:scandium data so I thought what if we apply the same numbers to our license area. It turns out that just within our area, there is the potential for 10.4 million Tonnes of copper. That’s without taking into account the ‘missing’ tonnes from Trident!