REG - Jubilee Metals Group - Zambia Progress Update

Jubilee MetalsAnnouncement

30/04/2025 07:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250430:nRSd7935Ga&default-theme=true

RNS Number : 7935G  Jubilee Metals Group PLC  30 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')

 

Dissemination of a Regulatory Announcement that contains inside information
according to UK Market Abuse Regulations. Not for release, publication or
distribution in whole or in part in, into or from any jurisdiction where to do
so would constitute a violation of the relevant laws or regulations of such
jurisdiction.

 

Zambia Progress Update

 

Jubilee, a diversified metals producer with operations in South Africa and
Zambia, announces it is at the advanced stages on concluding the trials of
the processing of various high grade copper ores, as announced on 6 February
2025, at its Roan Concentrator (Roan). The results from these trials will be
used to select material for a targeted long-term supply agreement. The
finalisation of the trials on the various types of high-grade materials will
be completed over the coming two weeks which is critical to the selection of
the optimal mix of high-grade copper material. To date, the initial results
have confirmed the potential for Roan to maintain a significant increase in
copper production rate on the high-grade copper material which supports the
decision to migrate Roan onto this high-grade material from initially
dedicating the capacity to the processing of copper tailings.

The various mineralogical compositions of the different materials required
circuit adjustments to Roan to optimally process each material. The final
results from the trials have consequently been slightly delayed. There remain
two further material compositions that will be trialled over the coming two
weeks to complete the selection of the source material for a targeted
long-term supply agreement.

The ramp-up of the Munkoyo Open-Pit mine operations remains on target to
achieve 8 500tpm of high-grade ROM exceeding 2% copper (equating to 170tpm)
with a further 75 000tpm of lower grade ROM stockpiled at the operations. In
addition, the recently announced trading of 10Mt from the estimated 260Mt of
material in Jubilee's Large Waste Project has commenced with first payments
received.

Statement from Leon Coetzer, Jubilee CEO:

"To date, these trials have vindicated our decision to prioritise the
processing of the high-grade copper material. Over the past six weeks, four
material types of varying grades and composition of copper within the overall
6Mt of high-grade, previously mined material have been processed at Roan. Each
material type has shown a unique property that requires a dedicated processing
configuration at Roan with varying metallurgical performance.

The trials have been delayed slightly by the in-circuit adjustments to Roan,
required to optimally process the various compositions of materials. The early
results have already confirmed the potential for a significant and sustained
improvement in copper production from Roan, while the ramp up at the Company's
Munkoyo mining operations remains on track to reach the 8 500 tpm of
high-grade ROM."

 

30 April 2025

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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDPKKBNABKKBQN