REG - Jubilee Metals Group - Further Kabwe Project Update <Origin Href="QuoteRef">JLP.L</Origin>

Jubilee MetalsAnnouncement

23/02/2018 15:35

RNS Number : 8343F
Jubilee Metals Group PLC
23 February 2018
Jubilee Metals Group PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or "the Company")
Further Kabwe Project Update
Jubilee Metals Group PLC notes the announcement made today by BMR Group PLC ("BMR") providing an update on the appeal against the notice of cancellation, announced on 7 February 2018.
BMR also states that following meetings between the company and directors of the Zambian Mining Ministry and Mining Cadastre, preparation of the company's appeal against the notice of cancellation, is well advanced and the formal appeal is expected to be submitted by no later than 2 March 2018.
Leon Coetzer, Chief Executive commented: 
"We are actively supporting BMR during this process.
We have engaged directly with the Zambian Department of Mines to demonstrate Jubilee's commitment to providing its technical, operational and financial strength to the Kabwe project. Our engagements were well received by the Zambian Department of Mines.
The Zambian Department of Mines' representatives acknowledged the combined strength of the BMR and Jubilee team and recognised the significant progress made by the team towards the execution of the Kabwe project. Our engagements with the Zambian Mining Ministry afforded Jubilee the opportunity to present the Company's extensive capability in the recovery of metals from waste as well as the associated environmental improvements the projects could offer.
Against the aforementioned it was agreed to have a follow-up discussion with the Department of Mines to further present the detail around our capabilities as well as to receive an update on the Kabwe Project.
These discussions will follow the submission of the appeal by BMR expected to be submitted no later than the 2 March 2018."
Further updates will be provided as appropriate.
United Kingdom
23 February 2018
Contacts
Jubilee Metals Group PLC
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Andrew Sarosi
Tel +44 (0) 1752 221937
Nominated Adviser
SPARK Advisory Partners Limited
Mark Brady/Andrew Emmott
Tel: +44 (0) 203 368 3555
Broker
Beaufort Securities Limited
Jon Belliss
Tel: +44 (0) 20 7382 8300
JSE Sponsor
Sasfin Capital, (a member of the Sasfin group)
Sharon Owens
Tel +27 (0) 11 809 7500

This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDPGUPWPUPRGAW