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

Jubilee MetalsAnnouncement

01/03/2018 07:05

RNS Number : 3148G
Jubilee Metals Group PLC
01 March 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 and BMR Group PLC (AIM: BMR) have agreed, under the executed binding joint venture agreement ("the Agreement") for the Kabwe project, to extend the date for the fulfilment of all conditions precedent from 28 February 2018 to 31 of March 2018 ("the Long Stop Date"). The extension of the Long Stop Date is to allow for the Kabwe project to remedy the cancellation of the current small scale mining licence. The notice of appeal by BMR will be submitted by no later than 2 March 2018.
Leon Coetzer, Chief Executive commented: 
"As previously stated we are actively supporting BMR during this process.
Our two teams continue to work unabated as we target to finalise shortly the design parameters for the processing plant. I have been encouraged by my ongoing engagement with the Zambian Mining Ministry and I have been invited to follow-up discussions with the Zambian Mining Ministry as soon as the BMR appeal has been submitted."
Further updates will be provided as appropriate.
United Kingdom
1 March 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
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