Business
Completion of Acquisition in Kabwe & Joint Broker
Completion of Acquisition in Kabwe & Joint Broker.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 0687K Jubilee Metals Group PLC 23 August 2019 \n\nJubilee Metals Group PLC\n(\"Jubilee\" or \"the Company\")\nRegistration number (4459850)\nAltX share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n \nDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)\n \nJubilee completes the acquisition of the Sable Zinc Refinery in Kabwe\nAppointment of Joint Broker\n \nJubilee Metals Group Plc (\"Jubilee\"), the AIM and Altx traded metals processing company, is pleased to announce that the sale and transfer of the entire issued share capital in Sable Zinc Kabwe Limited (\"Sable Zinc\") to Jubilee has been completed (\"Closing\"), allowing Jubilee to commence with the implementation of a fully integrated multi-metal refinery in Zambia.\n \nHighlights\n· The acquisition of Sable Zinc Refinery has been completed representing a major step for the advancement of the Kabwe Project\n· The acquisition significantly reduces the Kabwe Project implementation time lines and project capital requirement \n· The Refinery together with Jubilee's Kabwe surface resources in excess of 6 million tonnes at surface, establishes a fully integrated multi-metal operational footprint in Zambia\n· Jubilee intends to recommission the current copper/cobalt circuit during Q4 2019 to achieve earnings during the build phase of the zinc vanadium and lead circuit with first production of zinc and vanadium targeted for Q2 2020\n· The acquisition expands Jubilee's commodity basket to include copper, vanadium, zinc and lead \n· This multi metal refining operation affords Jubilee the opportunity to rapidly expand its metals recovery footprint in Zambia which the Company is actively pursuing\n \n \nJubilee Chief Executive Officer Leon Coetzer said: \n\"Completing the acquisition of the Refinery is a key milestone in delivering Jubilee's Zambian strategy of establishing a fully integrated multi-metal recovery operation. The Refinery, which will be the only one of its kind in Zambia, opens tremendous potential opportunities for Jubilee to significantly increase its access to additional surface materials for further refining.\n \n\...