Further Kabwe Project Update

RNS Number : 8343F

Jubilee Metals Group PLC

23 February 2018

 

Jubilee Metals Group PLC

Registration number (4459850)

AltX share code: JBL

AIM share code: JLP

ISIN: GB0031852162

("Jubilee" or "the Company")

Further Kabwe Project Update

Jubilee Metals Group PLC notes the announcement made today by BMR Group PLC ("BMR") providing an update on the appeal against the notice of cancellation, announced on 7 February 2018.

BMR also states that following meetings between the company and directors of the Zambian Mining Ministry and Mining Cadastre, preparation of the company's appeal against the notice of cancellation, is well advanced and the formal appeal is expected to be submitted by no later than 2 March 2018.

Leon Coetzer, Chief Executive commented:   

"We are actively supporting BMR during this process. 

We have engaged directly with the Zambian Department of Mines to demonstrate Jubilee's commitment to providing its technical, operational and financial strength to the Kabwe project.  Our engagements were well received by the Zambian Department of Mines.  

The Zambian Department of Mines' representatives acknowledged the combined strength of the BMR and Jubilee team and recognised the significant progress made by the team towards the execution of the Kabwe project.  Our engagements with the Zambian Mining Ministry afforded Jubilee the opportunity to present the Company's extensive capability in the recovery of metals from waste as well as the associated environmental improvements the projects could offer.

Against the aforementioned it was agreed to have a follow-up discussion with the Department of Mines to further present the detail around our capabilities as well as to receive an update on the Kabwe Project.

These discussions will follow the submission of the appeal by BMR expected to be submitted no later than the 2 March 2018."

Further updates will be provided as appropriate.

United Kingdom

23 February 2018

Contacts

Jubilee Metals Group PLC

Colin Bird/Leon Coetzer
Tel [phone] / Tel [phone]
Andrew Sarosi
Tel [phone]

Nominated Adviser

SPARK Advisory Partners Limited
Mark Brady/Andrew Emmott
Tel: [phone]

Broker

Beaufort Securities Limited
Jon Belliss
Tel: [phone]

JSE Sponsor

Sasfin Capital, (a member of the Sasfin group)

Sharon Owens
Tel [phone]

 

END

 

 

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