Business
High-Grade Feed Secured & Large Waste Rock Update
Jubilee Metals Group PLC has secured additional high-grade copper feed material for its Roan concentrator, acquiring US$1.8 million worth of run-of-mine ore grading 1.65% copper, with the payment settled through the issuance of 29,761,905 new ordinary shares at 4.48 pence each, a 14.3% premium. Furthermore, the sellers of the Large Waste Project have elected to receive the next US$2.6 million stage payment in Jubilee shares, also at 4.48 pence per share, leaving a remaining balance of US$5.4 million for the project acquisition. The Roan concentrator's expanded dewatering system is nearing completion, expected to commission by the end of March 2026, while partnership discussions for the Large Waste Project are progressing with two shortlisted operators. Disclaimer*
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n\nJubilee Metals Group PLC\nRegistration number: 4459850\nAIM share code: JLP\nAltx share code: JBL\nISIN: GB0031852162\n('Jubilee' or 'the Company' or 'the Group')\n \nDissemination 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.\n \nHigh-Grade Feed Secured and Large Waste Rock Update\nIssue of shares\nJubilee, the Zambia copper focused producer, announces that is has secured additional high-grade copper feed material for the Roan concentrator and provides an update on its Large Waste Project.\nHighlights\n· Additional high-grade (1.65% Cu) run-of-mine (ROM) secured for US$1.8 million\n· Installation of the expanded concentrate dewatering system at Roan is nearing completion with expected commissioning by the end of March 2026\n· At the Large Waste Project, the sellers have elected to receive the next stage payment of US$2.6 million in Jubilee shares recognising the potential value uplift the project offers to Jubilee. The payment leaves a remaining balance of the acquisition of approximately US$5.4 million\nLeon Coetzer, CEO of Jubilee, commented:\n\"The Large Waste Rock Project continues to progress towards the conclusion of a joint venture, with two potential partners shortlisted for the project to upgrade the copper stockpile and refine the recovered material into copper.\nJubilee continues to work with its ore partner at Roan who continues to supply ore of a consistent quality grading approximately 1.65% Cu, with the higher grade supporting improved recoveries and enhanced profitability.\nRoan's performance is further strengthened by the near completion of the concentrate dewatering system, which is expected to be commissioned by the end of March 2026.\nThe settlement of the purchase of high-grade ore and the next instalment of the Large Waste Project in shares highlights that our partners share our conviction in Jubilee's long-term growth and potential.\"\nIncreased high-grade copper ore secured for the Roan concentrator\nFurther to the announcement dated 5 June 2025 regarding the addition of a refining s...