Member Info for SeisNav

Quiggers I'm just looking at the real time price graphs on Kitco and there's certainly a trend between gold, platinum, palladium and silver which wasn't there before: https://www.kitco.com

As gold goes higher there are reports of it to being replaced by other metals like silver and platinum in the jewellery sector, that might have something to do with it, who knows? It's probably a combination of factors including speculation.

MetalTrade,

Instead of constantly saying you don't understand and listing reasons why you DON'T want to buy, why don't you ask some questions either here or to the company directly. Frankly I don't see why you are here at all if you have such a low opinion of the companies prospects. You clearly created your account here purely to comment (negatively) on this company, why?

It's pretty obvious that gold is driving the prices of other precious metals including PGM's at the moment. What the future of gold is who knows? Some are predicting that this pull back is temporary and it will hit US$5,000 in the not to distant future, I hope they are correct! Even if it maintained the current price, PGM returns in Q2 stand to be significantly higher than in Q1. Just for reference, the quarterly average basket price to date is currently almost the same as todays estimated basket price.

I see chrome as more of a backstop at the moment. Chrome and PGM markets tend to work in opposite cycles so when times are tough for PGM's, chrome should provide continued revenue. If they can expand chrome production beyond Thaba then it becomes much more significant.

For someone who claims to have been watching and researching the company for several years... why do you know so little?

It's interesting that you are happy to believe him metaltrade, despite Jonah pointing to drilling which shows he was completely lying! Still, each to their own eh?

Bottomsup, they are drilling to expand the known resource and create a mining plan. Normally you would expect the drilling to happen first before mining but I guess it's a balance between continuing to supply RoM to Sable and expanding the mine. We don't know much about the scale of the mine until they release some kind of resource estimate but I can say that the distance between the initial pit and the current one is about 500m and they have reported average grades of ~2-3% at each location. If they can prove continuity between those locations and potentially beyond then we could be looking at something of reasonable scale. Listening back to the interview Ricus did at the mine, he said then that they expected to be there at least 10 years... I hope he's right!

Also the extra license areas are exploration permits rather than mining permits. I hope they are going to reveal the locations license numbers of these new licenses so we can see where they are. The un-necessary secrecy is frustrating. Hopefully all will be revealed before too long.

Good to see drilling underway... fingers crossed for positive results in the coming weeks!

You are quite the liar nevergonnagiveyouup I will say that. It doesn’t take much effort to show that they drilled more than a couple of boreholes and the results were decent. Then again you also said with no evidence that they temporarily stopped mining at molefe because there was no more high grade ore!

Looks more like a transfer to me. Nobody is going to be able to sell that volume of shares without a buyer. Also it's delayed from yesterday so whatever it was it didn't have any noticeable effect.

If you remember when they purchased Sable it was up and running pretty quickly so I guess they just refurbished what was already there. I guess one of the two tank houses needed to be rebuilt although they never gave any explanation for that.

That’s what it seems like. It shows Sable had a 50 tpm cobalt circuit in place already and that was the initial target before expansion.

Yes I posted that the other week, it’s not something new to long term holders I’m sure but I posted it for the newer people who maybe didn’t see it before.

Gray, hopefully that's the case, from what I remember, they were supposed to be de-bottlenecking the cobalt circuit so that it could be produced without impacting copper production but details are a bit vague on that (and most other things!). They were due to expand the circuit at around the time that the cobalt price collapsed so I don't know if that was ever completed.

There's also the question of how much cobalt is actually in the material being processed at Sable. Presumably with them planning to expand production capacity it must have been considered worthwhile at the time.

As I understand it, cobalt and other impurities are bled off during the solvent extraction process to increase copper concentration prior to electro-winning. Does that mean they have been accumulating cobalt concentrates all along? I did read in one RNS that they had over 100 tonnes of 'in-process' cobalt at the time production was halted.

The updated charts:

https://www.dropbox.com/scl/fi/thpuldic2rgqy854wmntm/Commodity-Prices.png?rlkey=i8fb5hoe2adve91y9gj4fiqgq&dl=0

The cobalt price is being artificially inflated by the DRC export controls. They were supposed to have restarted exports under a new quota system designed to keep the market in balance and the price higher but so far that hasn't happened. Maybe the right palms have not yet been sufficiently greased! I don't think we will see a clear picture of where the price settles until exports are flowing again.

Hopefully Jubilee will address the question of cobalt production in the next update. There's a lot that we don't know as has already been stated so we just have to wait and see. In my view though, they should be looking to maximise returns and if that means prioritising cobalt over copper then thats what they should do.

Latest Chart:

https://www.dropbox.com/scl/fi/28iena9ggnrhhbu5dalh5/SLP-PGM-Basket-and-chrome-prices.png?rlkey=xmf2yi11lo5bvi2zsk0b1606n&dl=0

It looks like the PGM price is trending slightly upwards again after the recent wobble. If it maintains this kind of level for the remainder of the quarter then according to my calculations, even if they only reach the quarterly guidance rather than outperform it as they did in Q1, then the profits could still exceed Q1. Thats without including chrome too.

Nice to see that there are investors who are not quite so fatigued as some of the regulars!

2 days ago you were trying to scaremonger people with this:

"Alarming downward trajectory, suggests that we are heading for 70........"

Forgive me if I continue to take anything you post with a liberal pinch of salt.

As RB says in the interview, there's absolutely no way that Tertiary could develop Konkola West on their own and so either you own 100% of nothing or you are pragmatic and bring in a larger company with the funds needed to drill those kind of deep exploration holes and retain 20% of what could in future be a very significant license. In reality, if they did find something significant, it's likely that Tertiary would be quickly bought out of their 20%.

In the meantime we have Mushima North with self financed drilling due to start soon, before the rains start. That has the potential to be a major catalyst for the share price, dare I say even transformational.

It's there in the RNS, cash balance just over US$62.5m compared to US$60.9m at the previous quarter. Q2 stands to be significantly higher with the PGM basket much higher than Q1 and chrome starting to increase too.

It's an earn in agreement, which you can see if you read the RNS. Kobold pays for all exploration costs in exchange for a percentage of the project. That's pretty standard stuff for any junior in a JV with a major, I'm surprised anyone investing here wouldn't know that already! They also benefit from the license to the South of Konkola West which is now owned by Kobold. If they drill there and find something then TYM also stand to benefit from that... all at no cost to the company.