REG - Jubilee Metals Group - Jubilee Transaction on Large Waste Project

Jubilee MetalsAnnouncement

03/04/2025 07:00

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RNS Number : 4365D  Jubilee Metals Group PLC  03 April 2025

Jubilee Metals Group PLC

Registration number: 4459850

AIM share code: JLP

Altx share code: JBL

ISIN: GB0031852162

('Jubilee' or 'the Company' or 'the Group')

 

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Jubilee executes transaction on the Large Waste Project

Jubilee, a diversified metals processor in Africa, with copper operations in
Zambia and chrome and PGM operations in South Africa, is pleased to announce
an update on the Large Waste Project transaction.

Jubilee has secured the exclusive rights to the Large Waste Project (Project)
for a reduced consideration of US$18 million (previously US$30 million). The
Company has until mid-May 2025 to elect to acquire the assets and settle the
approximately US$11.5 million dollars remaining of the consideration over a
period of 12 months. Jubilee has been performing a due diligence on the
Project which included sampling campaigns, laboratory test work and pilot
scale trials, the results of which will inform the board's decision as to
whether to exercise the option to acquire the assets.

On the back of encouraging results from the due diligence completed so far,
Jubilee has entered into an agreement to sell 10 million tonnes of the
estimated 260 million tonnes of material to a selected multi-national metals
company. The value of the 10 million tonnes material trade is estimated at
US$6.75 million. Under this agreement Jubilee will gain a detailed insight
into the performance of the material when processed at the partnered company's
existing facilities. The results of which will provide a high degree of
confidence in the expected performance of the material if processed in future
by Jubilee.

Statement from Leon Coetzer, Chief Executive Officer:

"Jubilee's copper strategy continues to gain further momentum on the back of
the restart of its Roan Concentrator processing high-grade copper material as
well as the expansion of its Munkoyo mining operation. The Large Waste Project
offers tremendous potential for Jubilee to significantly expand its copper
portfolio in Zambia. We have been considering carefully the optimal partner
for the implementation of the Project especially following the encouraging
results of the due diligence review. Jubilee has held extensive engagements
with numerous interested parties on the best way to monetise the project. The
project has attracted keen interest from both metal offtake backed funding as
well as large multi-national copper producing entities interested to partner
on the potential project.

The trade of this small quantity of material compared with the size of the
asset (less than 5% of the estimated contained material) not only demonstrates
the potential value of the asset but also offers Jubilee the opportunity to
confirm the technical performance of the material through a large-scale
trial."

 

United Kingdom

3 April 2025

 

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

Jubilee Metals Group PLC

Leon Coetzer (CEO) / Jonathan Morley-Kirk (FD)

Tel: +27 (0) 11 465 1913 / Tel: +44 (0) 7797 775546

 

Nominated Adviser - SPARK Advisory Partners Limited

Andrew Emmott/James Keeshan

Tel: +44 (0) 20 3368 3555

 

PR & IR Adviser - Tavistock

Jos Simson/ Gareth Tredway

Tel: +44 (0) 207 920 3150

 

Joint Broker - RBC Capital Markets

Farid Dadashev/Jamil Miah

Tel +44 (0) 20 7653 4000

 

Joint Broker - Zeus Capital

Harry Ansell/Katy Mitchell

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

 

JSE Sponsor - Questco Corporate Advisory Proprietary Limited

Alison McLaren

Tel: +27 63 482 3802

 

 

 

 

 

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