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Much is already priced in because the SP tracks the PGM basket. The increased PGM production is impressive though. I'm sure it will reflect in the price once those looking to buy in ahead of results and sell on news have been rinsed through. It looks like they were processing less material than last quarter but of a higher grade. Also interesting to note that they have successfully produced chrome at Thaba, with 4545 tonnes produced but not yet sold. We should see significant production starting to appear from the current quarter.

You do realise that two of the projects are already run as JV’s with no cost to TYM right? If you are not excited about Mushima North, as the significant holder who stumped up the cash for exploration clearly is… maybe you need to look elsewhere!

That’s not exactly true though is it. They just raised enough cash to do the next phase of drilling at Mushima North, where early stage drilling has shown some very significant results, if that continues, it will impact on the share price and allow them to raise funds without massive dilution we have seen recently. They should be able to report copper grades almost immediately using in field PXRF, personally I’m excited about the potential.

The Kobold earn in is a more long term project but the upside is massive if they establish the continuation of the ore shales into Konkola West.

It's nice to see the SP quietly ticking up on no news, surely a sign that people are starting to recognise the potential upside here. Usually this kind of rise would have been accompanied by an influx of the usual rampers looking for a quick profit.

Nice to see the Pandy and Jedster show quiet for a while as well!

Here's the latest chart:

https://www.dropbox.com/scl/fi/8vumov59dlgztqmbdskzy/SLP-PGM-Basket-and-Chrome-Prices.png?rlkey=krtzryod5ydl2uosyzpc6e964&dl=0

Looks like things are settling down after the big sell off.

They don't need to invest aggressively. The plant is already there for Roan, Sable will soon be completed. They will have to invest in the leach plant for Molefe and potentially one at Roan. Don't exaggerate HarmProf. I also didn't say that copper production won't change much over the next 6 months... you said that. The mine will gradually increase production over the coming months as more mine floor is opened up.

BB, I agree that the market needs to see improved copper production to restore confidence. We all know about the problems at Roan and I think the implementation has lacked clarity over what exactly they are aiming to achieve and how they are going to achieve it. The fact remains that they are processing difficult transitional ores which most would consider uneconomic and achieving 65% recovery, with the potential to increase that to more than 70% with a leaching circuit Implemented. With the DMS currently not being used, I think they need to make clear what the plan is for that. Leon did hint in an interview that there's the potential to fill the unused capacity with more traditional ores which could then bring production up to the much heralded 10,000 tpa and I think that might be the way to go, maybe why he said after the rainy season, when road transport is easier.

The mine is going to take time to ramp up production, they need to open up more of the mine floor by excavating a lot of the overburden and looking at recent satellite images, that's exactly what they seem to be doing. Implementing the low grade leaching plant next year should further ramp up production as will mining at Project G... as long as we start to see progress over the next few months I'll be happy.

Tertiary tweeting about the larger potential of the Mushima North area:

https://x.com/Tertiaryplc/status/1983437299657621904

Target A1 is just the first to be fully explored, if the early stage indications of an economic grade copper / silver polymetallic orebody are proved by the next drilling then I'd be very surprised if we didn't get a JV off the back of that. The wider potential is pretty big.

Looking at day to day prices is all very well but its the longer term averages that matter:

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

Hard to believe that the Zambian operations are essentially valued at zero right now, despite having a working copper / cobalt refinery, a concentrator processing ores that few if any others can process, an expanding mining operation and exploration assets....

I noticed in September that they issued a mining license for Boliden in an area which conflicted with reindeer herding, although I think thats an underground mine rather than open pit. Here's part of the announcement (translated):

"The area for the planned mining operations is designated as of national interest for valuable substances or minerals. The planned operations will, however, affect areas designated as of national interest for the reindeer industry. After consultation with the County Administrative Board, the Mining Inspector has found that it is not possible to conduct reindeer herding and mineral extraction in parallel in the area, without giving priority to the national interest in valuable substances or minerals. However, the decision sets certain conditions to protect the reindeer herding...."

Having said that, the placing was at 0.065p so it's unlikely to be him selling at a loss! Maybe it is First Equity then, which would mean there's not much left to sell. Hopefully a bit of news on Mushima North will clear that if it's not done before.

I wonder if RB is going out there to oversee the drilling, things have gone quiet recently so maybe busy getting things organised.

It looks like the sticky hands maybe weren't so sticky. Either that or another holder was selling. First Equity are showing as having sold 110m shares recently with 61m remaining so it might have been them. 61m is nothing really, I've added more than 10m myself today.

I'd look at the company website for information rather than trust what posters here say:

"Dividend policy: Minimum of 40% of annual adjusted free cash flow, divided into 1/3 interim based on forecast annual adjusted FCF and balance as a final dividend of actual adjusted FCF at the Boards discretion"

Poor metal trade sounds a bit petulant this morning. Shame he only invested 3 quid, otherwise he could be enjoying the rise too. Personally I put all my trading money into Jubilee and made a quick thousand of your English pounds on the rise 😁

With copper at historic highs, hovering around US$11,000 / tonne and cobalt currently not far off US$50,000 / tonne, the stars are aligning for Zambian operations. Just a sign of positive progress and we should be off to the races (finally).

Looks like a panic selloff in gold driving precious metals prices down at the moment but all it takes is for the orange buffoon to open his mouth again and anything could happen.

The institution(s) who finished selling last week absolutely hammered the share price. Selling pressure gone... bargain hunters arrive!

It occurred to me that maybe some investors are not aware of the scale of the Molefe mine because Jubilee have so far put out very little information about it. Here's a screenshot of the license area showing the mine as it was a couple of years ago:

https://www.dropbox.com/scl/fi/j9rzdvvy36rgobvcot0qu/Molefe-Munkoyo-mine.png?rlkey=agqhooew6roufhipumxv7fz2f&dl=0

You can see that from the first pit to the last one is just under 1km in length. Does it extend further that that? We are yet to find out but interestingly there are a number of open pits just outside the license area, in the direction that the Molefe pits are leading.

I had a listen back to the Roast Zambia special the other day and it's funny how you pick up little things that were missed previously. During Leon's interview he mentioned that they had drilled down to 80m and found "copper all the way" so how far beyond that does it continue?

Going forward I'd really expect to see much more information being published on the website in relation to the exploration and mining activities as well as processing operations. There really is no excuse for them not to be keeping shareholders updated on this. For example, they flew a geophysical survey over the Molefe license area... where are the results? Presumably someone is building a 3D model of the orebody as drilling continues... why can't we see it? These are basics that you would expect from any exploration and mining company so we should expect no less.

I'll just leave this here for anyone in doubt about the relevance of the PGM price to the share price:

https://www.dropbox.com/scl/fi/ktpcfzhel4a5ykqa19ihe/SLP-share-price-vs-PGM-basket-price.png?rlkey=cysb1v49bypcf11rrry96hnen&dl=0

Of course there are other factors but to discount the importance of metals prices seems naive at best. Performance would have to be well below expectations to justify a SP of 70p. Obviously PGM's have been driven higher by the gold price so future performance will be linked to that to some degree.

The traders always pipe up whenever there's a bit of weakness in the SP. I would hope that by early next week we get news of drilling at Mushima North and that will get peoples interest again. This is the first project since Storuman which genuinely could change the fortunes of the company. Anyone investing in small and micro cap exploration companies, hoping for that 10 bagger. this could very easily be the one if they continue to hit high grade copper and silver. If the assays come back positive for gold... well we can always dream 😁

Yes of course you have. You first claimed to be a retired doctor as well, don't forget that one.