Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
I'd hardly call it wishful thinking. There's plenty of nearby drilling and active mining to form a geological model / models of the area. They are drilling to test those models.
There's more than Konkola West in play here as well, I expect further drilling on at least one of their other licenses this season with the potential for further JV's still to come. Plus Storuman of course, a decision on that could come at any time.
You apparently are not a shareholder... your choice. I think there's enough in play here to be invested and I will continue to be so (and more than a few hundred quid too!).
Anyone think the timing of the BHP offer for Anglo American's copper assets is relevant? I'm sure they are well aware that they have a major drill programme about to kick off in Zambia... maybe hoping they could get away with a cheeky bid before the campaign gets underway in earnest.
If Anglo are confident they are onto something significant it might just force them to reveal their hand to their own shareholders.
It was the Swedish government that ordered the Mining Inspectorate to review their decision, "in the national interest".
To be honest any one of the projects coming good should put a rocket up the share price. As part of the JV with KoBold, they are potentially looking to spend US$6m on drilling... that's 3 times the current market cap!
The share price was considerably higher before the Storuman license was cancelled but to balance that the number of shares in issue has massively increased (something like 8x I believe).
That was a sell I believe. Probably more placing shares being sold off. The placing was done at 0.08p so they aren’t making a whole lot at the moment.
Surprised we didn’t hear anything else from PC out in Zambia. Has he headed back to the UK already? Staying in Zambia for meetings? Maybe we’ll get an update today.
Yes I noticed that number Edzi, although what he actually said was they had informed the market that all in costs would be below US$6,000 / tonne. I don’t know if he misspoke but he has certainly mentioned less than US$4,000 / tonne in the recent past. The number in the H1 report was US$4,554 / tonne and I would expect that to come down as Sable becomes fully utilised.
I think it's worth reposting this summary for any new or potential investors, for a company with such a tiny market cap they have a number of projects, any one of which could be a catalyst for rapid growth:
"Obviously focus is currently on the active drilling at the Konkola West license by KoBold Metals. This will test for a deep extension to the ore shale which hosts the recently discovered Mingomba high grade deposit and several operating mines. That's not the only string to the companies bow though. Here's a quick guide to the other Zambian licenses, rather than me typing it, here are some video presentations the company did:
Jacks project: https://x.com/Tertiaryplc/status/1726875006255194188
Mushima North: https://x.com/Tertiaryplc/status/1714543279717363797
Mukai: https://x.com/Tertiaryplc/status/1701903712094929119
These are the licenses that were recently re-negotiated with the local partner to bring them all under the ownership of TYM and make it easier for any potential JV's. All of these licenses are drill ready. The company has previously mentioned that there has been unsolicited JV interest in the licenses from “major mining companies”.
The company also has 100% ownership of the Mupala license which is directly adjacent to the Anglo American / Arc Minerals JV and very close to where Anglo have been drilling.
In addition to the Zambian licenses there is the Storuman fluorspar project in Sweden. The license for this project was cancelled several years ago by the Swedish Mining Inspectorate but last year the Government cancelled the annulment and asked the Inspectorate to reconsider the application. Should this be approved it will certainly have a positive effect on the SP. It's now more than 6 months since this was announced so we could hear something relatively soon.
There are other licenses in USA but they seem to be on the back burner at the moment."
Ollie is a Non-Executive Chairman, his role is to oversee the board and provide advice to the CEO. He wasn’t brought in to publicise the company, that’s not part of his role. Colin enjoys all the public ramping of his various companies but it doesn’t follow that we should expect the same from Ollie. He’s there to turn the company from entrepreneurial to something altogether more professional.
I think that's a fair summary Chester, although during the H1 results presentation, Leon first stated that Roan split would be 60/40 in favour of oxides and then a little while later he said 60/40 in favour of sulphides! So none the wiser there really.
Also it's important to bear in mind that capacity doesn't necessarily translate into immediate production. The expanded sulphide circuit is due to come online in Q3 of this calendar year I believe, ahead of material coming from Munkoyo later in the year.
Another point, as we have seen with the PGM production, there is always going to be a degree of variability in the numbers when you are dealing with feed sources of different compositions and grades. Any numbers can only be considered an estimate.
I’ve filtered you before on other boards for ridiculous mass posting like this… just wanted to see who was behind the filter. If it’s DEVELOPMENT SYNOPSIS or just data scraping I really don’t care, I won’t be reading it.
I wasn’t insulting… I was stating the obvious. Nearly 20 posts a day and barely intelligible. Why not post less and take the time to make it readable. I think then people might actually want to read it.
We are producing copper, just at a lower rate than we hope to see after the full commissioning.
The point I’m making is that combined earnings from chrome and PGM’s should be in the same ball park as last year and that isn’t reflected in the SP yet because the market doesn’t know about it, whereas the individual investor who puts a bit of effort in to work out the numbers can see that.
I track SLP share price in my spreadsheet because they are (currently) still a pure PGM play so it's a good indicator in my view of how the market views Jubilee....
https://tinyurl.com/yn3bzp8x
Do you see any evidence of chrome or copper affecting the share price? To my eye they are tracking pretty much identically.
I expect earnings to come in somewhere close to last year, which is not bad when you consider that most of our (so called) peers will be reporting a drop of around 70% or more due to the fall in PGM basket.
Chrome is slightly down from its high a couple of weeks back but still (as of today) quoted at US$300-308 / tonne for 40-42% concentrate.
A lot depends on getting Roan up and running really, if that happens within the timeline that we were given then US$15 m is certainly achievable, although its important to remember that quite often the amount sold is less than the amount produced during the reporting period, especially if we are expecting it to be weighted towards the end of the period, we might not see the full benefit of production in the revenue and earnings. Good to see copper hitting US$10,000 / tonne again, that will certainly give us a boost!