Member Info for SeisNav

You expect me to be convinced by a chart with a line on it?

Chatmandu's posts here since he allegedly bought shares in 2020/2021:

2020: 0

2021: 0

2022: 0

2023: 0

2024: 1

2025: 93 and counting.

First they have to lay out the case for voting to sell off the chrome and platinum business, a steady income which has the potential for explosive growth if supply continues to tighten (as we saw in 2020/21). I certainly don't yet see it as a done deal.

On the copper side, there is still the possibility of news on several fronts which might catch out the sellers:

Drilling should have been completed at Munkoyo to establish the scale of the orebody.

Drilling seems to be ongoing at Grovenor (looking at satellite images)

News of a deal to finance the modules for the LWP and elsewhere.

Cobalt is a potential wildcard. Cobalt hydroxide prices remain elevated and from what I've read that could continue in the medium term. Are they in a position to take advantage of it?

We live in hope! (well some of us do).

If you read the last update on Roan, it seems that it's going to take a few months to reach maximum throughput (yet again). It isn't stated explicitly but it's there if you look at the numbers. I guess that's why they are waiting as long as possible to release any production numbers.

It's pretty clear that something isn't working as intended at Roan, the poor projected numbers tell us that. I think that needs to be directly addressed at the meeting and not just sidestepped. I want to see what the front end module is actually producing because that has implications for future modules. If most of the projected Roan production is oxides from the front end module then things are not as bad as they might appear.

Margin is a big unknown. That is key to making a profitable business in Zambia. Leon has bandied around lots of numbers but if they can produce copper with a cost / tonne of US$5,500 or thereabouts (as previously stated) then we can make a decent margin. That needs to be made clear in the circular. Buying in high grade RoM may have a significant impact on the bottom line at least in the short term, but as production from Munkoyo / Grovenor / others ramps up, that impact may be reduced.

I've asked the mods to remove this thread which is full of abuse and nonsense. If you want any genuine discussion here I'd recommend doing the same.

What are you expecting Pandy? Steven Spielberg?

Https://m.miningweekly.com/article/platinum-markets-deep-tightness-shows-little-sign-of-relief-2025-07-23

A combination of factors rather than a single cause.

Bottomsup, it's been mentioned multiple times on here already but the US copper price is not relevant. Jubilee uses LME so you need to quote the LME price.

I think you're seeing conspiracy where none exists. Obviously the time to buy is after they have raised money for exploration. Thats what I did and I'm sure plenty of others. The drilling results will likely be released as they happen, at least for PXRF data, so we could see the first ones within days. The whole program is only expected to take 2-3 weeks so it should be a quick turn around.

Kobold must be getting towards the planned max depth on Konkola West hole 2, so potential for a surprise there too, although it's Mushima North that I think has the more realistic chances of delivering something which could be economic.

No word on Mukai drilling yet, I wonder if FQM are focusing elsewhere at the moment. They have invested US$9.5m in Prospect Resources, SE of Sentinel, where there is a potential for a large copper deposit which could supply Sentinel processing plant going forward.

Interesting to see that Grovenor Resources has applied for 5 new exploration licenses in Zambia and two of them are very close to Munkoyo.

In the latest license update, the Afrimin and Southern Zaco exploration license renewals have been approved.

Https://x.com/Tertiaryplc/status/1947570491020939557

Drilling now underway on the first hole of the season.

"I'd suggest that our reserves of 'copper' waste rock are basically worthless"

Somebody is paying ~US$6.75m for 4% of that worthless pile of rock when it's costing Jubilee US$18m to buy 100% of it. Curious to know how you come to that conclusion Chattyboy.

"Indeed I am Seis. Keep up the good work."

Yes, and I'm really Lord Lucan.

Eloro, you'd have to check with management on that to be honest. I don't know what the status of the various licenses is right now but the pending LML application is still in the name of Zaco and that covers Fwiji and Nyambezu.

There's no reason they can't drill the other licenses while they get this shonky ex-parte order set aside. Nick mentioned Nyambwezu and Fwiji as other potential targets they wanted to look at. They certainly need to put an end to this nonsense though. Hopefully with a large settlement in Arc's favour and the return of the Kalaba area.

If you have a link that causes problems, like that one always does, use a url shortener. I tend to use: https://tinyurl.com

You just put the web address in the top box and it creates a shortened version for you which will post without problems here.

This is the one you were trying to link to Shuvlin : https://tinyurl.com/22nsaurp

I might also want to question why you showed up out of the blue Axial. Maybe you're another one of these investors that has been invested for years but only now feel the urge to pipe up... we seem to have gathered a few of those lately!

I'm struggling to understand how they are guiding FY25 earnings in line with the previous year. The Zeus note said:

"We are guided that “with the increased chrome production, we have been able to maintain earnings in South Africa largely in-line with the previous financial year”; Earnings in FY2024 were: EBITDA $24.5m and PAT of $5.1m. "

The EBITDA for chrome / PGM's in H1 was US$16.5m so to be in line with FY24 that would mean an EBITDA for chrome / PGM's in H2 of about US$8m. Either I'm over-estimating the chrome margin in H2 (which is certainly possible) or they are downplaying the EBITDA a bit.

That's the problem with being fed the bare minimum of information all of the time, it's hard to make any kind of realistic earnings estimates.

The worst mistake the company ever made was settling with that crook Mushinge. They will always come back looking for more if they think they can get away with it. Should have just let it work through the courts because he never had a leg to stand on in the first place. If he did, he wouldn't have signed the settlement agreement that he is now in breach of.

Https://x.com/Tertiaryplc/status/1947236374525915639

RB giving some context to the first drill hole, which is planned to test for deeper continuation of the already established shallow mineralisation.