Member Info for shuvlin

I don't disagree Heroric but Slater seems to think shares are the best way of paying. Maybe he has changed his mind?

As on of those slow on the uptake I would also concur if that is what Ric is actually saying. I was just going off what others have said not yet having had time to listen to to the broadcast. Dangerous I know so thanks for the heads up Korky.

The number of shares had already been decided for the G project:

Project G

Jubilee concluded an agreement to acquire a 51% interest in Project G. Project G is an established open-pit mining operation. Project G will be ramped up targeting to achieve a mine rate of 240 000 tonnes per annum at approximately 3% to 4% copper grade by Q4 CY2024. Acquisition Two will be settled through the issue of approximately 21 135 527 new Jubilee ordinary shares (Shares) (assumed at the Issue Price). The final number of shares will be confirmed upon conclusion of Acquisition Two.

Acquisition Two is subject to conditions precedent customary for transactions of this nature including conclusion of the requisite approvals from the Zambian authorities. Project G is poised to benefit from Jubilee's expertise in sustainable mining practices and state-of-the-art processing technology.

Of the approximately 21 135 527 Shares, 1 006 453 Shares will be locked in from trading for a period of twenty-four months following admissions, with the remainder of shares held by the current owners who are encouraged to retain their interests in Jubilee, in order to share in the expected value that Project G will bring to Jubilee shareholders.

Rick sounds like an idiot to me if he values jlp at zero in Zambia. I don't think I will be taking any of his advice and I doubt Mark Slater will be either. Maybe he just wants to buy in as low as possible?

Heroric back again with your nonsense. Slaters fund went against there normal rules to vote for the share "give away" last time so no doubt they will do it again because they see that it is not that at all but an investment that will pay off many times over.

Perhaps because Fidelity have already notified the market that they were doing it? In that case why did we all have to find out for ourselves.?

By the way, thanks Seis for that information. Might settle a few nerves. Just waiting for it to stop (if it hasn't already ) to pick up more stock.

And yet Summit still thinks investors are bailing! If there wasn't considerable interest from buyers we would be even lower than we are today given that 150 million shares have been disposed of by Fidelity to close their Fund.

Investors are not pulling any plugs in any numbers if you subtract the amount of stock that is being chucked into the market by Fidelity. Sorry if that doesn'r suit you agenda Summit. At it again and perhaps you would be better off reading the current analysis by Archer and IC.

A loan might be better for Chambisi.

Re other company sp falls due to Fidelity fund close. It is not possibel to compare. Depends on whether stock is already at a low point or already rising. Also depends on normal turnover and number of shares in issue , liquidity. There will be an effect but not necessarily as bad a jlp due to the starting position.

Charles Archer's latest take after the interview.

I directly asked about shareholder returns in the interview, and the general takeaway was that the priority order is to:

1. Secure raw copper supply

2. Upgrade Roan further

3. Purchase additional processing power (I suggested Chambishi and Leon agreed synergies there)

From Leon's perspective (and I concur), now JLP has demonstrated that low grade material can be economically processed, multiple operators are going to try to elbow their way in - so securing supply as fast as possible is business critical. This is especially true because at present, only JLP has the capacity to process low grade ore, so sellers have only one buyer - and will take payment in shares. I suspect you will see dilution, but to buy up more assets, so will be worthwhile.

Something major I touched on is Konkola, the IRH waste copper project is adjacent to the Konkola project (largest in Zambia and just retaken by Vedanta), so strongly suspect a deal is in the making there as needs $1 billion in investment and has a major problem with tailings that JLP can help out with. I also think Anglo may be coming to help out too, so could get very interesting very quickly.

Why do that on top of Fidelity selling god knows how many millions? They may also want to get some recent production figures in before they release to temper 2024 results and show what to expect. I wouldn't think there are that many loose hands around anyway at these prices. Plenty more waiting for it to bottom out (like me).

Thanks, It has been mentioned and all should listen to it.

Since all the stock being sold is also being bought there can hardly be a lack of buyers even in a slack period such as this. Always the negative view Sumo. You need to be clever to be subtle!

Do we know the date t which Fidelity started shedding its shares. That would at least give us an idea as to when it might be over?

That was my take also Northern. However, the sellers may just want stock.

On the other hand if they start reporting greater production before that stock might start costing a bit more. It will need careful timing.

That might well be the case Sumo and that will also be my plan.

My takeaway is, buy now whilst they are "ridiculously cheap"