Hi MmmmGus,I would appreciate a few answers as well. I am an...

Hi MmmmGus,

I would appreciate a few answers as well. I am an ardant supporter of Jubilee, but I want Jubilee to grow into Jubilee Metals & Power. Myself and another PI have e-mailed Leon Coetzer to say we consider the GRE sale assets as core to Jubilee's strategy and can we now take the non-refundable GRE money and get the power generation side of the business built up, as South Africa really is crying out for power and Amplats (The biggest PGM company in the world) is building a 450Mw power station to stave off the ESKOM power out and prices rises and it is good enough for them, it is sure as hell good enough for Jubilee.

I hope you appreciate that the last thing that us Jubilee holders want is further delays, but you should also consider that it isn't just UK holders but South African holders that want this to move forward. I can understand that this has left a bitter taste in your mouth, but by the same token, what have you got to lose now ???

If it goes belly up and the merger gets turned down by the PLA shareholders, you have lost the money from your original holding on PLA and got nothing in return, as that happens, Macquerie will liquidate the PLA assets, the PI's get paid out AFTER the creditors have been sorted out and I reckon there won't be anything left. So you have the unease choice of: say no and get nothing or say yes and get a tiny fraction of the worth of your PLA shares, but with the reward that if Jubilee can pull it off to mining Tjate, you won't get any change from a couple of quid a share !!!

I might have missed it (as i dropped off the boards while waiting for the scheme implementation) but have they actually restarted operations at Smokey Hills and processing the tailings? Wasn't this meant to happen at the start of the year - as announced before the merger? I'd hope PLA are getting an income from JPL for the use of the facilities (or not!

In answer to your question: No they aren't currently processing at Smokey Hills. I asked about this by e-mailing Leon Coetzer and I was informed that they aren't going to start processing before the merger and when the merger is completed, they will start processing the Dilokong tailings first before opening the mine later once the processor and mine kinks are sorted out.

The good news is Dilokong tails dam is from an active mine with a guaranteed 8,000 - 15,000 tons added per month and when you consider that we were awarded the rights in June 2012 as given by the RNS:

Jubilee Awarded Rights to Chromite Tailings
Wed, 13th Jun 2012 07:00
RNS Number : 2373F

So even if we use the lower figure of 8,000 tons a month since July last year that is 14 months at 8,000 tons and that is 112,000 extra tons at a minimum and at the minimum prescribed figure of 3.5 grams a ton and that is at a minimum 3,192,000 grams or 102,625.18 troy ounces (oz t / platinum).

I don't think that they have plans in place to put a ConRoast smelter at present, but it does make sense to put one there as well in the future, as that way it is close to Tjate and the tailings dam, but what do I know.

Regarding Tjate, if it wasn't full of PGM's then why would Anglo have bought a third off us for 5.5 million and that sale should be completed soon as it was predicted to take 2 years and we sold that in the following RNS:

Tjate's Quartzhill farm
Tue, 4th Oct 2011 07:00
RNS Number : 4912P