REG - Jubilee Metals Group - Kabwe and BMR Group PLC ("BMR") Update

Jubilee MetalsAnnouncement

04/06/2018 09:15

RNS Number : 1655Q
Jubilee Metals Group PLC
04 June 2018
 


Jubilee Metals Group PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or "the Company")
 
Kabwe and BMR Group PLC ("BMR") update
 
Jubilee has reached agreement in support of BMR's efforts to resolve the settlement of approved past creditors ("Creditors"), by allowing BMR to allocate a sufficient portion of its existing holding of ordinary shares in Jubilee ("Jubilee Shares") towards settlement of these Creditors in an amount of approximately  GBP597 015 (USD800 000).  All such Jubilee Shares held by BMR will be transferred to a Jubilee nominated Broker account.  To this extent Jubilee has agreed to lift the lock-in period as defined in the Share Subscription Agreement entered into between BMR and Jubilee on 15 January 2018, to allow the transfer of the Jubilee Shares to settle the Creditors.
Leon Coetzer, Chief Executive commented:   
"We are making excellent progress on the Kabwe project with the construction of the primary leach circuit well underway.  Final tests on the ore handling systems are expected to conclude shortly to confirm equipment selection.
Further details on the project will be released following the project presentation to the Zambian Mining Ministry expected to be held on or before 20 June 2018."
 
United Kingdom
4 June 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
Shard Capital Partners LLP

Damon Heath/Erik Woolgar

Tel: +44 (0) 207 186 9900
JSE Sponsor
Sasfin Capital, (a member of the Sasfin group)
Sharon Owens

Tel +27 (0) 11 809 7500
 
 
 
    




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