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I find it remarkable that the board have not put out a simple message stating that they acknowledge the steep rise in pgm prices since the announcement have affected the likelihood of the offer being accepted and that it is being renegotiated. That would at least show they are in touch with the feelings of shareholders.

But that is not the Jubilee way.

With half year results that looks good why is the sp down 23%?

Well the old FY has just ended and the new FY begun. We will probably have to wait till October for the financials but they should be able to state production figures very soon. I expect that with the circular.

Sumo, please clarify. Who is stating it has been withdrawn and replaced? Or are you saying by now you wouldn't be surprised if it is?

Mmmm. Can't understand why some on here say that pgms are just at the start of a cycle when Pt price is almost at an all time high. I guess it all depends on whether the future cars are hybrid electric using H2 fuel cells, or whether that is just a pipe dream.

I couldn't understand why Leon said in the interview they could consider a dividend because they would be flush with cash and the capex would be very low. That indicates he has no intentions to spend it on more equipment to accelerate copper growth yes? Accelerated production of copper is what we have been waiting for.

Leon took advice from the expert, K Starmer.

Marine, not long now before the 50 crosses the 200 and we get a lovely Golden Cross.

Shuvlin suggested getting an AI summary of the RNS so I put it into Deepseek. Maybe Leon pads it out to disguise the facts. Result as follows.

"### **Condensed Summary of Jubilee's Report**

**Key Achievements:**

- **Successful Trials at Roan Concentrator**: Jubilee completed processing trials for high-grade transitional copper reefs (previously considered waste), achieving ~65% copper yields. A long-term supply agreement is now in place, targeting 35,000–40,000 tonnes per month (tpm) with grades ≥1.4% Cu.

- **Munkoyo Operations**: Currently mining 80,000 tpm, delivering 3,500 tpm of high-grade ore (>2.5% Cu) to Sable Refinery. Plans to increase high-grade output to 8,500 tpm by October 2025.

- **Production Targets**: Combined Roan and Munkowo aim for **288 tpm Cu by June 2025**, scaling to **400–550 tpm by October 2025**.

- **Project G**: Resource drilling begins June 2025, with potential for shared processing infrastructure.

- **Large Waste Project**: Sold 10Mt of 260Mt surface material for **$6.75M**; exploring partnerships for modular processing units.

- **Non-Core Asset Sales**: Divested waste assets for **$12.3M**, payable over 20 months.

**Strategic Focus:**

- Shift from tailings to higher-grade run-of-mine (ROM) materials, aligning with rising copper prices.

- **Sable Refinery Expansion**: Delayed to prioritize mining operations; completion expected Q1 2026 to support increased production.

- Pursuing near-surface mining opportunities and partnerships to accelerate growth.

**CEO Statement Highlights:**

- Transitional ore processing validates Jubilee’s technical edge.

- Focus on monetizing non-core assets to sharpen operational strategy.

- Committed to **sustainable, non-dilutive growth** toward medium-term targets.

**Financial & Corporate Updates:**

- Issued **5.96M shares** to former chair Colin Bird (worth £200K), subject to a 12-month lock-in.

- Total shares outstanding: **3.07B**.

**Outlook:** Jubilee is poised for scalable copper production, backed by secured supply agreements and strategic asset optimization.

*(Summary condensed to ~10% of original text while retaining key data and context.)*"

Are Zeus guessers like Kalan?

My heart sank when I saw ' issue of equity' in the title but after a lot of reading was relieved to see it is only 5 million shares to pay off Colin.

No news is good news eh? When JLP do eventually get the update out there will probably be 'selling on the news', unless the guidance is exceptionally good.

Marine, sorry if I gave the impression that I'm in overall profit, am in profit only on 3 buys. My average is about 5p.

Yes things do now seem to be in turnaround, as long as we get a good guidance prediction for copper soon.

3.6/3.8 nice.

It's been a long time since I've seen profit on 3 JLP buys.

End of the month is Wednesday. Probably no RNS till Thursday.

Only another 9 days before it "gets going".

You wouldn't think it is the start of a recovery with so many sells being shown, but I can say the 3.187p sells this morning are buys, including mine. Annoying that the trades shown are meaningless unless you check each price.

Can't say the same for AIM chart though!!

As pensions are long term investments they are unlikely to be affected significantly. Looking back at the all-share chart for say 10 years it is seen that there is a near straight line, rising continually and this is minor correction blip to get back to the line. More major blips being the pandemic and 2008 recession of course.

It is a darn shame that it is happening now and causing copper to lose 10% of its price and negatively affect the JLP FY25 finals. More waiting for investors and even more patience.

Courdelion, the deal also gives information to JLP on processing of the material on buyer's full scale plant that JLP needs for future processing. Good one Leon