Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
For anyone interested in the potential JV:
Zak Mir talks to Martyn Churchouse, CEO Caerus Mineral Resources in the wake of this week's an update on Jubilee Metals Group and Bezant Resources Option and prospective Joint Venture Agreements.
https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-martyn-churchouse-ceo-caerus-mineral-resources-572d6e9
There appears to be lots of positive news flow from Cyprus, with a number of the mines qualifying for the entry criteria for Jubilee to engage in a JV.
I agree with you that Leon will engage when the time is right, probably at the point of agreeing a JV.
Hi Mikie, thanks for your comments, been taking some time out. Seems an age since the end of last year when discussing the potential of cobalt.
Any thoughts on CB in cyprus with two hats on, whilst Leon is steadfastly sticking to Zambia and SA?
Reading back on the rns 5 Nov 20 the 114mt is referred to below:
The drill program has been independently verified and confirms an indicated resource of 100 million tonnes containing 0.3% copper and 0.05% cobalt, with a further 14 million tonnes classed as an inferred resource.
Even at 0.05% that's a decent revenue stream for cobalt
Thanks Sumo,
So the 0.08% cobalt refers only to TD52. Still a very positive revenue stream to sit alongside copper.
It is great to get some clarity on copper and now cobalt following the lack lustre copper numbers for FY21.
Rereading the operational update, I believe the 2,026t refers to copper produced since Sable was brought back on line. For FY 2021 copper produced was only 1,387t, giving 3.7m earnings. The difference being copper produced FY 2020 accounting for the 1.2m earnings last financial year.
The previous 1,447t figure must also have been from Sable being brought back online and not H1 21 (jul-dec20).
Does anyone have a different view?
Hi JLPpositive, wrt your point 3, I thought that Sable has a current capacity of 14,000t/a which they are looking to increase to 25,000t/a within 4 years.
I have to admit to being disappointed with the copper production figure having reported 1,447t for 20H2 unless I read something wrong?
Tab Shiner
Looking at our sector peers over the past 1month, jlp down 11%; ths down 17%; slp down 21%. That's with ths reporting record results. This is not specific to Jubilee.
LTH here and happy to wait. Operational update will be here soon enough.
Hi Jonah, I think its good clear comms identifying potential delays and what is being done about it. It also keeps the momentum going at cmrs.
Their acqutsitions of Plutonic and Cyprus Gold Mining has definitely improved their portfoilo.