REG - Jubilee Metals Group - Strategic update: Global Development Opportunities

Jubilee MetalsAnnouncement

16/12/2021 08:30

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RNS Number : 8774V  Jubilee Metals Group PLC  16 December 2021

Jubilee Metals Group Plc

Registration number (4459850)

Altx share code: JBL

AIM share code: JLP

ISIN: GB0031852162

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

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 
16 December 2021

 

Strategic update - Global Development Opportunities

Jubilee Metals Group PLC (AIM: JLP/Altx: JBL), a diversified metals processing
business with operations in Africa, is pleased to update shareholders on its
plans for the roll-out of its global metals processing strategy going into
2022. In developing this global strategy, Jubilee will seek to leverage the
unique intellectual capital it has developed over 10 years and from which it
has created two successful metal recovery businesses in South Africa (chrome
& PGMs) and Zambia (copper) respectively.

Jubilee believes its proven ability to process ore from multiple sources
through a single, centralised processing unit, while at the same time cleaning
up historical environmental mine tailings liabilities to the benefit of all
stakeholders, will both create opportunities and give Jubilee a competitive
advantage as it pursues further international opportunities.

Jubilee recently announced a year of significant growth with audited annual
results to 31 June 2021 showing revenues increasing by 143% to £133 million,
attributable operational earnings growth of 183% to £71 million and adjusted
profit before tax up 324% to £52 million. This growth was achieved following
a period of exceptional operational developments in South Africa, and
crucially in the newer jurisdiction in Zambia. Growth was achieved in all of
the Company's core business units; PGMs and Chrome and Copper with maiden
earnings generated from Jubilee's new Zambian Copper portfolio. During this
period, Jubilee entered a phase of new build, extended existing facilities and
executed a number of targeted transactions and investments to not only
underpin growth, but which also offer the opportunity for further growth.

 

Jubilee's leading metal processing expertise can be deployed in multiple
jurisdictions, and it has always been a major part of the Company's strategy
to grow internationally. The recent success of the Zambian strategy
demonstrates how, in a relatively short period of time compared with mining
projects, Jubilee can establish itself as a dominant player in country,
broadening its commodity exposure, achieving early revenues and setting itself
up for significant operational and financial growth long into the future.
Outside of Africa, the Company is already working with Caerus Mineral
Resources to research and test dumps in Cyprus, left by many mining operations
over many years.

 

Increasingly, Jubilee is receiving approaches to work on new projects across
continents and it is now appropriate timing to look to broaden the Company's
focus in an organised, strategic, but aggressive way, with the global roll-out
of the Company's brand, 'The Jubilee Way', a method of operation in the
tailings space unique to Jubilee.

 

The international opportunities available to Jubilee are vast and the Board of
Directors intends to create and allocate significant resource during 2022 to
the global roll-out strategy, while also recognising the requirements to
materially broaden current in-house and board-level expertise. A standalone
business unit will be created in the New Year comprising a number of key
management team members to identify and procure the best opportunities in the
global arena, whilst maintaining the fundamental approach of risk management.
This new business unit will combine and integrate the technical, commercial
and country risks and commodity fundamentals and will develop an overall
five-year strategy for growth. Going forward, Jubilee intends to maintain
centralised control over finance and business development, with a
decentralised approach to country management.

As the detailed strategy is developed, further announcements will be made
during the first half of 2022.

 

Leon Coetzer, CEO, said: "Jubilee has built a leading position in the metals
processing world and it is with great excitement that we launch our global
growth strategy.  It is not often that one finds oneself in a unique space,
positioned to make a difference on a global scale. We have made significant
progress over recent months at both our South African and Zambian operations,
as well as outside the African continent, with the collaboration with Cyprus
based Caerus Mineral Resources, and now feels the opportune moment to formally
implement a global roll-out strategy.

"To do this we will look to expand the team we have in place, bringing
together an executive and non-executive team that will really drive the
international strategy with their experience and contacts. The Jubilee board
has been fundamental to date to our success, and we will consider carefully
its development going into the first half of 2022. The 'Jubilee Way' is the
product of a highly capable team, and I will maintain all of the principals
developed to ensure that the next phase of our growth is accelerated in a
positive, green and well governed manner."

 

Colin Bird, Non-executive Chairperson, said: "The development of Jubilee over
recent years has been an exciting period for all of us concerned, from the
formation of the business to its exceptional growth to reach our current, very
strong, financial and operational position.  During this period, the world's
views on environmental issues have accelerated and transformed and it will no
longer accept anything but the highest standards towards the creation of a
greener planet.

"Jubilee is now well positioned to expand internationally, and to do so must
further tailor the structure and knowledge base of the business. It is
critical that we have individuals in place with the specific capability,
values, and experience to move the Company forward. I personally recognise in
reaching this point that it is appropriate that I move on to allow a new
Chairperson to steer the Company in the next phase of its evolution.  The
dedication, energy and skills I have applied, and continue to apply, are more
appropriate to companies which are at an earlier stage of their development,
and I look forward to continuing my endeavours in that arena.  I therefore
have committed to assist the Board to find a replacement over the next 6
months and to assist in overall succession planning. We look forward to
providing details of our global roll-out strategy and board developments over
the coming weeks and months.  Onwards and upwards."

United Kingdom

16 December 2021

For further information visit www.jubileemetalsgroup.com
(http://www.jubileemetalsgroup.com) , follow Jubilee on Twitter
(@Jubilee_Metals) or contact:

 

Jubilee Metals Group PLC

Colin Bird/Leon Coetzer

Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913

 

Nominated Adviser - SPARK Advisory Partners Limited

Andrew Emmott/James Keeshan

Tel: +44 (0) 20 3368 3555

 

Broker - Shard Capital Partners LLP

Damon Heath/Erik Woolgar

Tel +44 (0) 20 7186 9900

 

Joint Broker - WHIreland

Harry Ansell/Katy Mitchell

Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618

 

JSE Sponsor -  Questco Corporate Advisory Proprietary Limited

Sharon Owens

Tel: +27 (11) 011 9212

 

PR & IR Adviser - Tavistock

Jos Simson/ Gareth Tredway/Charles Vivian

Tel: +44 (0) 207 920 3150

 

 

Jubilee Metals Group is a diversified metal recovery business with a
world-class portfolio of projects in South Africa and Zambia. We create value
for all stakeholders through the transformation of mining liabilities into
profitable assets in a manner that addresses mining's historical footprint and
improves the quality of life for surrounding communities. Our distinguishing
value proposition is our net positive impact on all stakeholders and the
environment.

Our business model focuses on the retreatment and metals recovery from mine
tailings, waste, slag, slurry and other secondary materials generated from
mining operations. In effect, while extracting maximum financial returns, we
responsibly rehabilitate environments scarred by the surface footprint of
historical mining operations and solving air and water pollution issues
associated with those installations.

The Company's expanding multi-project portfolio provides exposure to a broad
commodity basket including Platinum Group Metals ('PGMs'), chrome, lead, zinc,
vanadium, copper and cobalt.

Jubilee is listed on the London Stock Exchange's AIM (ticker: JLP) and the
Johannesburg Stock Exchange (ticker: JB).

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