REG - Jubilee Metals Group - Strategic Investment to Support Copper Growth

Jubilee MetalsAnnouncement

28/05/2026 14:15

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RNS Number : 1062G  Jubilee Metals Group PLC  28 May 2026

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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Strategic Investment to Support Copper Growth Strategy

 

Jubilee, the integrated copper producer and resource developer in Zambia,
announces that it has secured a US$1.5 million unsecured convertible loan note
investment specifically designated for the accelerated development of the
greater Molefe region. The investor holds a successful track record in the
development of various copper projects and formed part of the team behind the
development of Mantos Copper and its subsequent merger with Capstone Copper
(Investor).

This initial investment reflects the Investor's keen interest in supporting
Jubilee's copper exploration and mining strategy in Zambia, including the
development of the greater Molefe region, beyond the current mining area.

The Investor recognises the potential value offered by the Company's
exploration and mining strategy that seeks to significantly expand its near
surface Molefe mining operation while targeting similar near surface copper
deposits in the greater Molefe region. In this regard, discussions continue
for a further US$10 million staggered investment. This offers the unique
opportunity to commence copper production through the nearby Sable refinery
while simultaneously concluding a detailed resource drilling program.

Leon Coetzer, CEO of Jubilee, commented:

"We are pleased to secure this initial investment, which reflects growing
confidence in our copper strategy and the broader opportunity within our
Zambian portfolio.

The facility provides near-term funding flexibility to aggressively pursue
additional exploration and mining opportunities within the greater Molefe
region, while we advance discussions around a potential longer-term strategic
partnership aimed at supporting resource expansion, processing capacity growth
and increased copper production across the broader Zambia platform.

Importantly, our approach combines ongoing copper production from our
processing operations with the concurrent development of a scalable resource
base at the Molefe Mine, reflecting Jubilee's differentiated model of building
resources alongside production.

This balanced approach underpins both near-term performance and long-term
value creation as the scale of the resource is defined progressively."

Convertible Loan

Jubilee has secured a US$1.5 million unsecured convertible loan note
investment (CLN) with the Investor. The Company requires shareholder approval
at an extraordinary general meeting (EGM) to allot and issue shares or grant
rights to subscribe for or convert any securities into shares. The Investor
has agreed an initial interest rate on the convertible loan that is below
rates typically offered by banking institutions on similar funding structures,
reflecting the Investor's support for the Company's copper growth strategy.

In terms of the CLN, the Company has sixty days from the date of this
announcement to obtain shareholder approval. The Investor has agreed to
convert the loan into shares immediately following shareholder approval. The
CLN will be converted at a price per share being the 20-day volume weighted
average price on the London Stock Exchange prior to the drawdown date of the
CLN. Should approval not be obtained, the interest rate on the convertible
loan will be increased to align with interest rates on typical medium term
unsecured loan funding and the loan will be repayable within twelve months
after the drawdown date.

Strategic Context and Potential Expansion

The Investor has expressed a broader interest in supporting Jubilee's
long-term copper growth strategy, including the expansion of the Company's
resource base within the greater Molefe licence area. The proposed investment
structure is intended to ensure that capital is deployed directly into project
development, aligning the Investor's participation with the advancement of
Jubilee's underlying assets and the potential to build a longer-term strategic
position in the Company.

Subject to ongoing discussions, due diligence and agreement between the
parties, the Investor has indicated potential funding of up to US$10 million
over time to support Jubilee in the acquisition of additional licence areas,
exploration activities and the advancement of the greater Molefe licence area.

There can be no certainty that any further investment will be completed, and
further updates will be provided as appropriate.

Potential Collaboration Opportunities

The Company is also in discussions with the Investor regarding potential
collaboration through its processing expertise across a broader scope of
initiatives. These opportunities remain subject to further evaluation,
negotiation and formal agreement.

A further announcement containing details of the proposed EGM and associated
resolutions will be released in due course.

 

28 May 2026

 

For further information 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 - Zeus Capital

Harry Ansell/Katy Mitchell

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

 

Joint Broker - Shard Capital Partners LLP

Erik Woolgar/Gareth Burchell

Tel +44 (0) 207 1869900

 

JSE Sponsor - Questco Corporate Advisory Proprietary Limited

Alison McLaren

Tel: +27 63 482 3802

 

About Jubilee Metals Group

 

Jubilee Metals, listed on AIM and the Altx of the JSE, is a copper producer
focused on building a world-class integrated copper business in Zambia. The
Company aims to reach 25 000 tonnes per annum of copper production by
integrating exploration, mining, concentrating and refining through its
three-pillar strategy, combining the Roan concentrator, the Sable refinery and
regional mining assets and the Large Waste Rock Project. Led by an experienced
team, Jubilee applies innovative technologies to transform previously
underutilised materials into value while supporting circular resource use and
strong environmental stewardship.

 

For further information, please visit www.jubileemetalsgroup.com
(http://www.jubileemetalsgroup.com) and follow Jubilee on X at @Jubilee_Metals

 

 

 

 

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