1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Dear Guest, we realise advertising is annoying, it is however necessary to help us be a sustainable resource for all, if you want to go advert free then please use the following link to subscribe for £5 a month: Click here
    Dismiss Notice

(JLP) Jubilee Platinum Share Chat

Discussion in 'General Share Chat (JLP)' started by rodrod1, Aug 13, 2015.

  1. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    Screenshot_20220501_083101.jpg
    Mail on Sunday 01/05/2022
     
  2. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    Last edited: May 5, 2022
  3. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
  4. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    16 May 2022

    Jubilee Metals Group PLC
    ("Jubilee" or the "Company")
    Registration number (4459850)
    AltX share code: JBL
    AIM share code: JLP
    ISIN: GB0031852162

    Jubilee Metals Group PLC

    ("Jubilee" or "the Company" or "the Group")


    Company Update:

    Investment Programme Delivers Significant Growth Across PGM and Copper Operations


    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).


    HIGHLIGHTS


    South Africa

    · Jubilee's new and expanded Inyoni Operations ("Inyoni") is already exceeding design throughput targets reaching 86 000 tonnes per month of chrome and PGM containing run-of-mine ("ROM") feed, together with 40 000 tonnes of PGM containing historical tailings material, placing Jubilee on course to achieve its PGM ounce production target of 44 000 ounces per annum through its 100% owned Inyoni alone (previous max design capacity 30 000 ounces), replacing any reliance on existing PGM recovery joint ventures

    · The Company's significantly increased chrome ore beneficiation capacity to in excess of 220 000 tonnes per month (previously 140 000 tonnes per month) of ROM feed and tailings, allows the Company to sharply increase the production of chrome concentrates from the various feed streams as an offset cost to its PGM production costs; Jubilee targets to produce 1.2 million tonnes of chrome concentrate per annum

    · Inyoni continuous to ramp-up production rates targeting full production rates during May 2022 and delivered 8 018 PGM ounces from Inyoni operation in calendar Q1 CY2022, an increase of 75% when compared with Inyoni's average production rate of the previous two quarters despite refilling of the operational pipeline after start-up. With the completion of the ramp-up if Inyoni during May 2022 Jubilee expects to achieve the 43 000 PGM ounce guidance for the financial period end to June 2022

    · On a chrome by-product credits basis, Jubilee's net cost to produce an ounce of PGM during Q1 CY2022 was US$ 433 per ounce excluding transport costs of US$ 198 per ounce, which transport cost will be reduce significantly once the Company's eastern limb expansion strategy to establish a PGM processing footprint in the eastern limb is successfully implemented


    Zambia

    · Significant milestones achieved in the delivery of the Southern Copper Refining Strategy in Zambia, which targets to produce up to 12 000 tonnes of copper units per annum including a cobalt by-product from certain cobalt-containing feed streams:

    o Project Roan commissioning activities are nearing conclusion with the official hand-over of the new copper concentrator to the operational team. The ramp-up of the concentrator is expected to reach design capacities during July 2022, which targets the processing of 830 tonnes of copper in concentrate per month for refining at Sable

    o Project Roan has to date created local employment opportunities to almost 600 people as part of the construction and operational team. The project has brought investment, employment and opportunities for local service providers to the region

    o Jubilee's Project Roan and Sable Refinery combined has offered employment and contractor opportunities to more than 800 people, the most of which are long term, while Jubilee has prioritised local supply of services often working with local companies to assist in developing the required services to create a sustainable support infrastructure

    o In addition to the copper refining capacity at Sable, the construction of a cobalt refining circuit at the site is underway and expected to commence commissioning during June 2022

    o Initial design capacity able to produce up to 1 200 tonnes of cobalt per annum which has the potential to add significant revenues to the Southern Copper Refining Strategy (current cobalt prices c. US$ 81 000 per tonne (source LME))


    Leon Coetzer, CEO of Jubilee, commented: "The Jubilee team was bold in its plans to expand and optimise the South African and Zambian operations, however a confident, but prudent approach to the deployment of our £ 39.5 million investment programme has already resulted in the delivery of significant results for the Group.

    "Rolling out our business case across multiple countries, operations and commodities has enabled us to de-risk, capture economies of scale, and also provided exposure to numerous value points throughout the recovery and metal processing chain. In addition, our expanding production profile and the economies of scale it provides, offers insulation from the inflationary pressures smaller operators are facing, enabling Jubilee to maintain a cost per PGM ounce produced when fully accounting for the chrome by-product production credits resulting in a net cost of below US$ 450 per PGM ounce when excluding transport cost. Our eastern limb expansion strategy holds the additional benefit of significantly reducing transport cost of material from this region which makes up the bulk of current transport cost.

    "I am extremely proud of the Group's performance over the past 12 months, which is testament to the dedication and innovation of our operational teams. Despite the various issues which we have faced over the previous two years, including, at times, intense and prolonged supply chain disruptions mostly due to Covid, the Jubilee team has risen to the challenge and has delivered on its objectives on schedule, and on budget.

    "Crucially, and in line with our goals to promote sustained, inclusive economic growth, the Southern Copper Refining Strategy has resulted in significant job creation, with total jobs filled in Zambia reaching near 800 during the last 12 months. We have prioritised the sourcing of skills and services from our local communities and have, in many instances, partnered with local firms to assist in their growth and development to offer a sustained service to our projects. With the completion of the construction of Project Roan we now look to accelerate our investment program into the Northern Refining Strategy targeting the Luanshya, Kitwe and Mufulira area.

    "As we emerge from this phase of significant growth and sustained financial performance, and I look forward to providing further updates as our various new projects hit their targeted output in the coming weeks and will be fully reflected in the next financial reporting period."


    Further Information


    South Africa

    During early 2021 at Inyoni, the Company's primary PGM recovery circuit, Jubilee launched a project to create a new fully integrated and significantly expanded Inyoni operations. By way of a reminder, the project would deliver a fully integrated multi feed chrome and PGM beneficiation circuit that comprised:

    • a new run-of-mine chrome beneficiation plant ("OBB") with a design capacity of 80 000 tonnes per month (previous decommissioned facility historically averaging 45 000 tonnes per month) of mined chrome and PGM containing ore from various suppliers to Jubilee;

    • an expanded fine chrome beneficiation circuit able to process up to 45 000 tonnes per month (previous 35 000 tonnes per month) of historical chrome and PGM tailings;

    • a renowned ultra-fine chrome ("UFC") processing plant capable of processing up to 30 000 tonnes per month to maximise the recovery of the chrome prior to recovering the PGMs; and

    • expansion of the Inyoni PGM circuit capable of processing up to 75 000 tonnes per month (previous 45 000 tonnes per month) of tailings produced by the chrome beneficiation circuits which increases Inyoni's PGM capability to 44 000 PGM ounces per annum


    The new Inyoni operations would, on completion, target the processing of multiple feed sources to maximise the extraction of chrome as a by-product to produce a high quality PGM rich feed to the new upgraded and expanded Inyoni PGM plant, representing a first for the industry. The expanded operations would also reduce Jubilee's reliance on JV arrangements, such as the Windsor PGM JV, to grow its financial and operational performance.


    The total allocated capital for the integrated chrome and expanded PGM recovery facilities was £ 20.5 million (ZAR 408 million) targeted to be implemented over 11 months to carefully plan the commissioning of the new and expanded chrome and PGM circuits with the existing operations.


    The project culminated in the commissioning of Jubilee's proven UFC facility in February 2022 following the commissioning of the new expanded Inyoni PGM circuit during November 2021, bringing to completion the new fully integrated chrome and PGM recovery circuits. The UFC facility is able to recover ultra-fine chrome from the PGM feed stream further enhancing the PGM feed grade, while producing additional saleable chrome as a by-product at virtually no additional operating cost.

    The success of this new world class facility is delivering early results in the operational performance for Q1 2022 with Inyoni's chrome and PGM production increasing materially. The OBB facility has exceeded its throughput targets achieving a record processing of 86 000 tonnes of ROM ore in a single month since its commissioning in October 2021 adding to the existing Windsor and Windsor 8 chrome beneficiation plants to reach a processing record of 190 000 tonnes of ROM ore in a single month.

    At Inyoni alone, chrome production remains on target. PGM ounce production continues to increase after first replenishing the in-process PGM pipeline that was drained as part of the capital project. Inyoni is expected to reach its 3 500 PGM ounce monthly target for May 2022 and delivered 8 018 PGM ounces in Q1 2022, an increase of 75% when compared with Inyoni's average production rate of the previous two quarters despite refilling of the operational pipeline after start-up.

    The increased throughput and production rates of the integrated Inyoni Facility has the added benefit of further dilution of cost to cushion the current inflationary pressure on operating costs. Cost per PGM ounce produced excluding transport cost is US$ 669 (transport cost currently US$198 per PGM ounce) and when fully accounting for the chrome by-product production credits results in an effective cost per PGM ounce produced of below US$ 450 (excluding transport cost). Jubilee's targeted eastern limb PGM expansion strategy will significantly reduce transport cost of feed material from this region while expanding overall PGM production. Jubilee is in advanced discussions to secure an existing mothballed PGM processing footprint capable of being repurposed by Jubilee.

    With the Inyoni ramp-up expected to be completed during May 2022, the Company expects to achieve its guidance of 43 000 PGM ounces for the full financial period despite the interruptions caused by the implementation of the new integrated and expanded Inyoni operations.


    Zambia

    The first phase of Jubilee's copper strategy in Zambia includes the implementation of its Southern Copper Refining Strategy which targets to produce up to 12 000 tonnes of copper units per annum including a cobalt by-product from certain cobalt containing feed streams.


    The strategy integrates the upgraded Sable Refinery with Project Roan, a new copper concentrator processing both ROM copper ore as well as tailings to produce copper concentrates for refining at Sable (10 000 tonnes per annum), which complements the existing supply of third-party feed to Sable Refinery (2 000 tonnes per annum). The integrated Southern Copper Refining Strategy's capital allocation was c. £ 19 million (ZAR 378 million).


    Jubilee's project execution team broke ground for the construction of the new copper concentrator, Project Roan, in June 2021 and, despite the challenges caused by the COVID 19 pandemic and its effect on supply chains, the team was able to commence testing of certain equipment within seven months and completed all construction activity within 11 months, a remarkable achievement. Commissioning activities have been further frustrated with the lack of availability of certain electronic equipment, largely due to increased supply chain pressures out of Europe. Through innovative engineering by the team, these have been overcome and commissioning activities remain on track to commence ramp-up of the plant during May 2022. Project Roan is expected to complete the ramp-up of the operations, which targets 830 tonnes of copper per month, during July 2022.

    In addition to the copper refining capacity at Sable, Jubilee has approved the implementation of a cobalt refining circuit at Sable able to produce up to 1 200 tonnes of cobalt per annum. The new cobalt circuit is expected to commence commissioning during June 2022. At current prices of cobalt of c. US$ 81 000 per tonne of cobalt, this exciting project holds the potential to add significant revenues to the Southern Copper Refining Strategy.

    Crucially, and in line with Jubilee's goals to promote sustained, inclusive economic growth, the Southern Copper Refining Strategy has resulted in significant job creation, with total jobs filled in Zambia reaching near 800 during the last 12 months. Jubilee has prioritised the sourcing of skills and services from local communities and have, in many instances, partnered with local firms to assist in their growth and development, which also offer a sustained service to our projects.


    16 May 2022
     
  5. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
  6. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
  7. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    ADVFN - thesharehunter re: Jubilee general meeting 16/05/22

    Went to my first general meeting. A (very) rough transcription of the meeting follows.

    Nick Taylor-non exec present
    Leon Cotzier CEO by video link

    Special resolutions need 70% to pass
    1 -to issue share capital- passed 96%
    2- to permit hybrid shareholder meeting- 98.92%For

    Overview by Leon

    Jubilee offered technical expertise to miners. Jubilee educated themselves by looking at what was left after processing and WHY. What was wrong with the system? Was it inefficient or was it due to the type of process?
    Looking at Chome- 1)all PGMs are rejected by the system and 2) there is inefficiency of the process or things were being ejected by the system- 70% of the remaining chrome is due to it being ejected by the system.
    So jubilee addressed the inefficiency but also looked at the process. They also sorted out how to get the PGMs.

    At INYONI, they found that they could build a large central facility allowing material from a whole host of entities. This was 1) cost effective and 2) caused no reliance on any one entity.
    In 2021 they rebuilt the facility to cope and doubled its ability. “No other such facility in the world!!”
    JLP now 4th largest chrome producer in SA but no mine!
    Chrome is the BY-PRODUCT and offsets the PGM costs.
    Jubilee have disincentivised their clients by being better, faster and cheaper than doing it themselves. This gives a constant stream of fresh material for their PGM business
    And today, they are no longer reliant on their Joint Venture( which they had to share 40% off)
    INYONI is fully commissioned and at full volume. “No one else can produce PGM oz so cheap” : $450/ oz compared with the selling price of $2200
    Targeting to end all JV by 2023

    Looking to the Eastern limb. They have secured the clients and have secured the feed. Looking to build a new facility so as not to need transport costs to west(440km).
    Transport costs only TEMPORARY. (Weakened rand is buffering costs but diesel increases will come through. Use modern trucks to cut diesel costs)
    Looking at decommissioned processing facilities. Time line depends on concluding negotiations but then 8-10 month build time.

    ZAMBIA
    Split into “North” and “South” but not really geographically. The town of Ndole splits the two and is a “bottle neck” as only one road between the areas and goes through here.

    South- Sable- is able to take multiple materials. Allows for the small miners to process their materials. This fulfilled a promise to the government for small miner empowerment.
    Potential for $120million per annum with very good margins.
    Now the biggest employer in Kabwe and soon in Ndole

    The North is a much,much bigger picture.
    Looking to repurpose facilities ( and quite a few available due to their own strife)
    How to fund it?
    all of their South African operations are debt free and so the complete balance sheet is available
    The earnings are sustainable( not exposed to any one client)
    Can now leverage
    The northern projects are aimed at commissioned in 18months?

    At Sable they have trialled the cobalt circuit. It is implemented and is ready to do the same on the northern side which is more cobalt rich. The cobalt at sable will be material coming from the northern side until that is up and running on its own. Expect cobalt to start in July

    I’m Zambia, there is 1.9 billion tons sitting at surface. More than in mines!
    Ready to seize the opportunity.
    First mover advantage

    Nothing prevents looking at other metal groups especially the “energy metals”

    Question was posed about other jurisdictions:
    “Zambian waste is better quality than most Chilean mines!” And DRC is better than Zambia.
    So opportunities have to be something good to detract from Zambia or be strategic.

    Cyprus - took a back seat to Sable and Project Roan but the results are now back and on the table. “The Grades excite us”. It is also strategic as it’s looking at copper and gold.

    Some interesting info on costs:
    Acid has gone up from $100/ tonne to $300/tonne BUT due to JLP innovations, the price increase is ameliorated to only %30 compared to other producers. Prices are going up but our costs less so. A bit of a win for JLP compared to other producers.

    Why resolution 1?
    Leon answered “prudent in this environment. No plan for it but if for whatever disasterous events, good to have it”. “No one predicted Ukraine or China issues this time last year”.

    TJATE
    Keeping up all licences etc… and being transparent with the government on the plans. Well above the agreed community work and green credentials.
    Actively looking for investors, be-it a sale or other. No plans to mine.

    Kabwe- discussing on re-starting zinc circuit with the improved prices.
    Lead is very toxic. Are partnering with the world bank on plans. Have already identified low zinc areas and are “capping” them to help with the toxicity. “good will”
    Vanadium always under review but prices so volitile.

    Leon did commit to 3 monthly “project” updates but not financial ones. In a rapidly growing company, down time to upgrade facilities etc… would skew the results too widely.


    ADVFN - billyboy2fromiii


    Hi Sharehunter,

    Good to meet you today at the GM.

    Just got home so, thank you for writing your notes up. I will check my notes and add anything that I feel is relevant.

    Leon's presentation was dated March 2022. I said at the end of the meeting that I did not think (apologies if was incorrect) that this presentation (March 2022) was posted on the Jubilee website. I have just checked and it is there now....

    https://jubileemetalsgroup.com/wp-content/uploads/2022/05/20220313-Jubilee-March-Roadshow-FINAL.pdf

    Sharehunter,

    You have posted a very good summary.

    A few snippets from my notes (please note that this is my understanding of what was said at meeting) ......

    On a recent site visit, Berenburg (amongst others) "blown away by size"

    Last year's capital costs would now cost 35% more (so good that we built last year!)

    Presently transport approx 20,000 tonnes per month from Eastern Limb to Inyoni. Looking to purchase decommissioned facility which would add 20,000 oz pa PGM to the existing 44k-45K oz pa from Inyoni PGM. Already secured clients, waste, materials. Purchasing decommissioned facility would be quicker and cheaper than new facility.

    Northern Zambia Refinery potentially much larger than the stated 15k tonnes pa copper.
    Looking for/in talks. Use leverage for primary funding.

    Africa dominates quality of waste. Must be good to better Zambia but DRC better than Zambia.l


    New Chairman update overdue.

    CB steps down end of June. Seems that new chair identified and in final stages before announcement soon ? Discussions that communications need to (and will) improve !!!!

    Cyprus taken back seat but about grades not quantity. Final results re r&d received couple of days ago. Results on table and will notify market.

    Southern Zambia cobalt comm July 22. North, 18 months.

    Cost of copper gone up (acid very large rise) but due to "selective leeching" which reduces the amount of acid required inc about 30% (?) now approx $5,000 per tonne.

    Transport of Eastern Limb to Inyoni 450km. Would be reduced to 40km (significant reduction in transport cost) when new facility available (would take 8-10 months to launch).

    As regards today's vote on share issue. LC stated "no real target but prudent to have option/flexibility. No target to issue stock but must ensure have the option. Cannot see need".

    Will commit to quarterly update statements but not full quarterly reports.

    Tjate. Renewed interest in large platinum.

    Target is to not use Windsor JV with PGM production from Inyoni and Eastern Limb facility. End JV in 2023. Not efficient use of resources.

    Zinc prices are up and discussion now whether to re-activiate or not. To do zinc must extract lead. Must be extra cautious with lead. In partnership with World Bank re lead in Zambia. Third party zinc mines are desperate for access to processing facility. Vanadium back on radar.

    Apologies if this is a bit jumpy from one subject to another but that is the way the questions were answered.

    As stated, this is based upon my own understanding and is based upon my hand scribbled notes, so apologies for any errors in my summary.

    Please do your own research !!!!!!!!!!!!!!!!!!!!!!!!!!!

    BB2
     
    Last edited: May 16, 2022
  8. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    Jubilee Metals Group plc (LON:JLP) CEO Leon Coetzer joins DirectorsTalk Interviews to discuss a performance update of its new and expanded fully integrated South African Inyoni PGM and Chrome Operations.

    Leon gives us an idea of the potential Jubilee now offers, what investors can expect from the new the Inyoni PGM and Chrome operations, the expansion into the East, how big could this be, talks us through the completion of the Southern Copper strategy to start delivering additional earnings from Copper, its potential and the inflationary pressures on operations and the business in general.


    Roan copper ramp up to circa 1000T per month @ $10000+ / tonne to give $100 - £120m additional annual turnover.
     
    Last edited: May 17, 2022
  9. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374

    Jubilee Metals Group - achieving output targets ......
     
  10. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
  11. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
  12. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    Proactive Interview
    Leon Coetzer discusses the new chairman appointment and the addition of Berenberg as broker.


    Colin Bird on Traders Cafe
    https://embeds.audioboom.com/posts/8090966/embed/v4

    Just a short mention about the new chairman but it was noticeable he mentions Mr Olivera’s M&A experience.
     
    Last edited: May 29, 2022
  13. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
  14. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
  15. Groucho

    Groucho Member

    Messages:
    9,136
    Reputation:
    374
    LSE - Masterinvestor Podcast/ Mark Slater

    Mark Slater, founder of Slater Investments, and manager of the Slater Growth and Slater Recovery funds, talks bear markets and stock opportunities. He discusses his reasons for holding Jubilee around 14 minutes in.
    https://masterinvestor.co.uk/podcast-master-investors/
     

Share This Page