Member Info for Shorn

Highlights
- Cobalt refining circuit at the Sable Refinery entered the commissioning phase during June 2022 in line with original timing expectations, with first trial cobalt product produced per the expected commissioning and ramp up schedule:

o Commercial production is targeted to commence during August 2022

o The cobalt refining circuit at Sable is able to produce up to 1 200 tonnes of cobalt a year depending on the feed grade

- Commissioning and ramp up is progressing at the Project Roan concentrator reaching 65% of designed capacity with first filtered copper concentrate produced for refining at Sable as part of commissioning and ramp-up activities:

o Ramp-up of the concentrator is expected to reach design capacities by the end of July 2022

o At capacity, targets the processing of 830 tonnes of copper in concentrate per month for refining at Sable

o Part of overall Southern Refining Strategy to reach 12 000 tonnes per annum of copper production capacity

o Significant employment opportunities created, and local suppliers prioritised, to create a locally sustainable support infrastructure

Leon Coetzer, CEO, commented: "Reaching these significant milestones announced today put us in great stead for the financial year ahead, and beyond. It is testament to all the hard work by the Jubilee team that over the past 12 months have delivered on a bold implementation plan across both the PGM and chrome operations in South Africa and the copper and cobalt operations in Zambia.

theiceberg
Not sure i totally agree with your view on economics with respect to inflation, interest rates, and gold.
My view is that equities generally have a ways to go yet (further main stream drops) we have asset inflation on the back of QE money finally hitting peoples pockets, followed by labour inflation.
I believe the markets "still" think inflation is temporary and for me where i differ to you, is that the bond market needs to wake up and realise that that bonds no longer represent the best hedge against inflation. Therefore i believe gold will start increasing later this year and into 2023 and beyond, when the housing market cools / falls, savers and the holders of bonds decide to follow gold as the hedge, the rise in gold could be very significant and i believe it will not fall significantly from this level.
Due to the western world combined national debts, we are facing a 10-15 year era of wealth distribution (financial repression) and as such most western governments will keep interest rates relatively low compared to nominal GDP to reduce the debt to GDP burden using the effects of the very same inflation they don't want to reduce, all the while re-distributing wealth. The economy will run "hot" for quite a while, for this purpose.
Historically, in the early stages of inflation commodities fare well, though later they fall victim to inflation too.
For anybody interested in the limited upside of inflation through time - unlike other recessions i believe BoJo (or replacement) will introduce a massive government investment scheme (like Biden's) - target areas will be things like: chemicals & steel (reversing globalisation), building, energy security (north sea et al), green movement... - let's call it the old economy + going green...
XTR is obviously an explorer with an unrealised as yet asset value in BR. So tends to fall outside of the early effects of inflation.
Sorry for going quite aways of topic but i think folks are waiting here for near term results here (quite right too) but suffering the wider effects of the markets adjusting to the effects of inflation as it takes hold...
IMO ATB Shorn

admin0406
Posting the relevant points of good RNS on the bb - is to reach out to those combing the boards rather than reading each and every Monday morning RNS's. After all we are converted and read each RNS.
Timing is everything, and those that are interested then dig deeper.
IMO - after all that's how i came across Bens Creek and bought c120,000 shares, thank you to the poster on that day ;-)

Following completion of both of the infrastructure projects, the Company has built up an inventory of clean coal which it is now delivering, via railroad, at circa 11,000 tons per train, from its 3.2 mile rail spur connecting to the Norfolk Southern Railway system, which transports the coal to the port of Norfolk, Virginia.
This initial rail delivery of 11,000 tons of the Company's HVB product, via its "fast flood" rail loadout facility, commenced on 1 June 2022 and is expected to be followed by further rail deliveries of a similar quantum during the coming weeks.

Adam commented...
"We have also commenced the second shift on the first highwall miner and are in the process of renovating our second highwall miner, which we purchased earlier this year. We expect in due course to receive a new permit for the area that is to be mined using the new highwall miner.

"The Company is targeting to reach full production using both highwall miners by the end of the summer 2022.

"Marshall Miller & Associates are in the process of finalising their initial report on the total resource of our sites, including those recently acquired, as previously announced, and we expect to receive an update from them during June 2022."

Additionally...

Jubilee is also pleased to announce the appointment of Joh. Berenberg, Gossler & Co KG ("Berenberg") as joint corporate broker alongside its existing brokers, with immediate effect.

Jubilee also announces key changes to the members of its Executive Committee under the leadership of the Chief Executive Officer, Leon Coetzer, in-line with its drive to expand its business globally. Pedja Kovacevic steps into the role as Chief Strategy Officer ("CSO") to dedicate his focus to the global expansion drive, from his current role as Group CFO, with Peet van Coller who joined the Company as the new Group CFO.

Whilst i agree there seems to be no reason not to report on African assets currently.
I do however believe there will be a very good reason for radio silence when it comes to Bushranger.
Some thoughts...
-> CB loves talking about the progress of BR
-> There will be further tonnage being added to the resource
-> Triggering AAL option and or decision to mine cannot be as simple as sending a letter, i.e. more to it commercially
-> CB has experience in the industry is this very situation - the focus has turned from talking to us to talking to AAL and in theory other companies (obviously without commitment before AAL have come off the fence).
-> Before any confirmed AAL option, or other 3rd party negotiation the fullest of data will be on the table to attract further commercial commitment from them.
-> Given the above if i was CB i wouldn't want the data being shared at the Mine & Wine (?) conference while in early commercial discussions.
-> What i don't believe is that the radio silence implies bad news.
I suspect we will get other African asset news / RNS first, followed at some point by an announcement of "engagement" either through AAL option being triggered, or an exclusivity period (EA) for DD with another major (Newcrest?)...
IMO ATB Shorn

EIProfessor
Yes an interesting read.
The FT need to do a bit more research though, as they state...

"BHP and Freeport have both invested in a privately owned company called Jetti Resources (a US company), which claims to have found the answer to one of the biggest riddles in the copper mining industry — how to economically extract the metal from abundant but low-grade ores."

Well done Jetti - lol
Actually apart from the above investors interestingly Mitsubishi have also invested in them.

Which i have stated in the past makes Jubes a "target" to some extent by either an industrial processing company or a mining major. I remember at a meeting in London last year Colin Bird said and i quote "approaches have been made to Jubilee, just not the right sort..."
IMO ATB Shorn

Something i have posted about before

SeisNav
Excellent and clearly an indicator as to how important the local employment helps the political objectives and resolves employment needs on the ground, further positioning Jubes as the go to processor of tailings across the region.
ATB Shorn

Luqs786 - why doesn't £800k at 80p move the SP ?

fulmar29 - you suggesting JLP - JV with AAL for processing surface tailings in the region ?
What's in it for ARCM ?
Or am i way off the scent here (it's still early)...
ATB Shorn

Sharehunter2b
Excellent update adds context to todays RNS.
Thanks for taking the time to share.

Didn't the interview with Adam or his processing engineer (video) state that the transportation by rail was to a port for sea shipment - in which case the ship needs to be there...
I might be wrong but i'm sure i heard something along this lines...

Massive...
1 200 tonnes of cobalt per annum X c. US$ 81 000 per tonne of cobalt = c. US$97,200,000 revenue as a by-product !!

Jubilee Metals Group PLC, a leader in metals processing with operations in Africa (AIM: JLP/Altx: JBL), is pleased to provide a performance update of its new and expanded fully integrated South African Inyoni PGM and Chrome Operations and its Zambian Southern Copper Strategy, which involves integrating the Sable Copper and Cobalt refinery with the newly constructed copper concentrator, Project Roan. This new and significantly enlarged operational footprint follows an investment programme implemented over the past 12 months of £ 39.5 million (ZAR 786 million).

SeisNav
Excellent work !
Great to see the the different aspects you have pulled together - and for any new investor looking in to this BB it gives them a sense of what the scale is about and the extent of work to date, and the exciting future in this very geologically fertile region. AAL will not of wasted their time and money on this JV had it not have the type of potential that the testing to date has proven. I would anticipate that David Wood is going to instrumental in driving the direction of the drilling program. On the strength of this data to date i have invested in over 3m shares, and am hoping we see a GGP <-> Newcrest type SP growth over the coming months and years...
ATB Shorn

Kullybahia
Great summary for any one looking to get in now before drilling and the SP taking off.
And if i can add the agreement with AAL gives ARCM...
-> success will be down to the drilling (which will start quickly because of the season)
-> well funded upfront so no dilution
-> small cap with JV share in 30% of drilling outcomes
-> still in discovery stage (potential multi bags to come)
-> jurisdiction as politically sounds as it could be
-> entering an inflation era where known resources are declining (macro economics help)

I am sure i have missed other positives, and stand here to be corrected, GLA !
ATB Shorn

From another BB...
https://www.telegraph.co.uk/business/2022/05/13/natural-gas-classed-green-investment-boost-north-sea/

This bodes well for JOG's future. Investment by institutional investors just got easier

i bought 2x batches of £8k - both showing on my Barclays account.
BUT not showing as trades - as they are fairly sizeable for the volumes going through - do you think they are being held back ?
Not used to MM's and their ways.
ATB Shorn

I wonder where we sit on the journey ?
https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/

nothing on the call other than good news
sit on hands
sorry
buy on the drop