Further Kabwe Project Update

RNS Number : 3148G

Jubilee Metals Group PLC

01 March 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 and BMR Group PLC (AIM: BMR) have agreed, under the executed binding joint venture agreement ("the Agreement") for the Kabwe project, to extend the date for the fulfilment of all conditions precedent from 28  February 2018 to 31 of March 2018 ("the Long Stop Date").  The extension of the Long Stop Date is to allow for the Kabwe project to remedy the cancellation of the current small scale mining licence.  The notice of appeal by BMR will be submitted by no later than 2 March 2018.

Leon Coetzer, Chief Executive commented:   

"As previously stated we are actively supporting BMR during this process. 

Our two teams continue to work unabated as we target to finalise shortly the design parameters for the processing plant.  I have been encouraged by my ongoing engagement with the Zambian Mining Ministry and I have been invited to follow-up discussions with the Zambian Mining Ministry as soon as the BMR appeal has been submitted."

Further updates will be provided as appropriate.

United Kingdom

1 March 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]

 

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