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The question is, how relevant will it be after the financials and the Q1 numbers are released? Some of us think it will be very relevant, which is why I asked for your calculations that you based your very precise SP predictions on.

Strange that you fail to make any mention of chrome Kalan, especially when that is clearly the biggest revenue and earnings generator at the moment. Why would you do that?

That's not much use to anyone without showing your workings to arrive at those numbers.

Possibly sewingmachine, accounting is not really my area!

Here's an image showing where I believe the drilling took place at PL135/2017, most if not all of it was in two lines across the largest part of the IP anomaly, which coincides with what seems to be the central part of the dome. I've put a line to indicate scale from where MMG discovered mineralisation to where Arc discovered it, ~3km. The IP anomaly you can see extends further to the South so potentially much bigger than indicated.

https://shorturl.at/BvyAz

Actually, it just occurred to me, does the fact that drilling has already started at Mushima North indicate that the license transfers to Copernicus Minerals have already been completed by the cadastre department? If that is the case then maybe the FQM drill at Mukai might not be too far away.

Yes I'm not expecting the SP to move far from the placing price until the seller is done unless we get some news in the meantime. At least we now have two drill projects on the go, with potentially a third with FQM at Mukai as soon as the paperwork is finalised.

I’m not saying that PI’s can’t and don’t influence the SP Kalan. I’m saying for this particular sample you can see that overall PI’s are increasing their holdings since the start of the year and the majority of the SP movement is directly caused by FIL and CG selling. That should be pretty clear, even to Buttermilk.

Surprised there's not more interest considering what was discovered just a few km west of the Mushima North anomalies

https://x.com/NavSeis/status/1838871815516467533

I do love a good graph because it sometime reveals things you might miss. Just for the heck of it I plotted the major shareholdings over time since last December: https://shorturl.at/wB8Iv

First thing to note is in January it shows the effect of the placing at 5p which happened in December, with Slater, CG and FIL all adding. You can see that whilst Slater continued to add, both CG and FIL played the same game, selling those share back into the market and crashing the SP at the same time. The SP then picked up again before CG and FIL sold some more. All of this time the overall PI holdings through Interactive Investor and Hargreaves Lansdown have continued to increase.

So it's not just FIL driving the SP, but the combined effect of FIL and CG selling (who are still recommending us as a BUY!). Also for the benefit of Buttermilk and the others who spend time here trying to talk the SP down... it should be obvious that it's not PI's driving the SP down, it's certain II's.... so you are wasting your time!

Botswana drilling payment is already included in those numbers according to the ZEUS Capital note, so just the assay costs to come plus the usual expenses.

My guess is that "FIL Investment Services (UK) Ltd" which is listed on the Jubilee page of the Fidelity website:

https://www.fidelity.co.uk/factsheet-data/factsheet/GB0031852162-jubilee-metals-group-plc/profile

and has a holding of 95,720,469 shares as of 31st August, is actually the investment fund part, with the remainder being PI holdings. Just a guess though.

FIL holdings:

January: 270 million

April: 257 million

May: 246 million

June: 245 million

July: 244 million

6th Septemper: 231 million

16th September: 227 million.

Make of that what you will.

Two of the applications were submitted by the Cadastre dept. prematurely, without all the necessary documentation being ready, from what I understand... sabotage or incompetence, take your pick! The third one was in the latest MLC report and is "deferred", which I guess means there are other dependencies still to be resolved. The first two have to go through the appeals process so that might have something to do with it. None of that affects the exploration licenses although I'm sure it is causing uncertainty for some. Clearly not for Anglo though.

I don't know about "sustainable" but this is the fund which Fidelity is shutting down due to poor performance:

https://www.fidelityinternational.com/FILPS/Documents/en/current/pro.en.xx.GB00B29TR993.pdf

Jubilee is listed on page 5 (as the top detractor!)

Chrome concentrate average for the year so far is about US$305 / tonne which give or take a little is where it's been for the last year. It does look like we might see some softening of the price but who knows for sure, with news today of a new Chinese stimulus package for the economy, that might be short lived.

I'm pretty sure that Thutse 2 is close to complete, if not already operational, judging from the (low res) satellite images. Hopefully Thutse 3 is already well progressed. Another update for chrome, before the results, would be nice. They need to learn to drip feed investors regular news, the treat em mean, keep em keen approach clearly isn't working! 😁

Mikie, the predicted 65% recovery is for the material put through the modular concentrator. The high grade material from Munkoyo is shipped to Sable as is.

I'm with you Jonah, I don't really understand why anyone would NOT want to go ahead with it! As I mentioned earlier, success with that project opens up many other doors and it's all in addition to what they are pursuing with the small scale mining operations. Absolute no brainer as far as I can see.

I don't agree that this testing is all down to Jubilee rather than IRH, they have mentioned in a previous RNS that there is a technical team representing IRH involved with the testing. Yes Jubilee have the option to walk away in the event that things don't go as expected but I think IRH want to see the processing through Roan confirmed before signing off, which I'm pretty confident it will be.

We know from the videos at site that they are drilling near vertical but we don't know what the dip angle of the hanging wall is so that could make quite a difference to the thickness they have to drill through. The nearest reference point I've got at Konkola is roughly 3km away and at that point the ore body is at depth 1400m and dipping at 28 degrees. I would guess the dip gets shallower as you move away from Konkola but it's only a guess... we just have to keep waiting and see if they hit anything before the drilling rig gives up! It's all information for KoBolds models though, even if they don't reach the ore shale there will be a huge amount of information to help decide if and where to drill next.

The financing will be provided solely by IRH through the SPV with the money being recouped further down the line, it's all stated very clearly in the RNS.

Shuvlin, OB1 is a big deal because it opens the door to many other possibilities. Don't forget that IRH is now the majority shareholder in Mopani, so there's a lot of potential for partnerships other than the waste rock project. Leon has said they have been in talks with Vedanta who own the biggest waste rock dumps in the country so success with OB1 could lead to that opportunity and who knows what else. Why would you turn down 30-40% of the profits on a project where you don't have any CAPEX?

They have already conducted pilot studies on the OB1 material which presumably were encouraging enough to proceed to a full scale trail using the Roan front end. That seems to be the final step before the IRH technical team sign off on it. Leon said in a recent interview that the material at OB1 is very similar to what Roan is already processing, they must be pretty confident of success, especially having already purchased long lead items for the project. Anyway it looks like we are 9-12 months away from seeing those modules in operation.

Ipitythefool, I'm surprised that Kobold are at over 2000m without intercepting the target yet. From the data I've seen on the hanging wall thickness at the Konkola orebody, it's a maximum of ~400m thick, but that's a couple of kilometres away so no guarantee of the situation at Konkola West. They have been drilling the hanging wall since the previous update at 1,340m so the hanging wall is nearer 700m thick already. The deepest drilling I've seen reported previously is ~1900m at Konkola.

It's good to see drilling about to start at Mushima North, I'm very interested in that one because of the similarities to the nearby (very high grade) Kalengwa mine.

Hopefully the pen pushers get things sorted out so that FQM can get drilling at Mukai, another target which I think has good potential.

Brunton Pass due to kick off in about a months time, I don't know much on that project, will have to look into it a bit more.