Jubilee Metals part 2

Monday, 10th May 2021 09:22 - by Moosh

Since my first post a few weeks ago about Jubilee Metals (LSE:JLP), the company has furnished the market with a couple of strong positive news items. The first relates to the known Zambian Copper operations, namely Project Roan. Phase 1 of 3 has now been completed and copper production at the Sable refinery is ready to commence. The unrolling of phases 2 and 3 will continue in Q3 2021 and Q1 2022, respectively. These give the market something to look forward to and with copper prices steadily rising, JLP is once again timing things to perfection to take full advantage of this as revenue will be further boosted with Phase 1 complete and further strengthened with Phase 2 which is aiming to ramp up copper production.

Roan is somewhat of a stepping stone project which bridges the underlying core of the business from platinum group metals and chrome to the next major step up for the company in the form of Project Elephant, which is a huge Zambian copper resource initially secured in 2020. As copper demand increases due to the ever growing electric vehicle market, with also a squeeze on supply, JLP continues to demonstrate its power of foresight, organisation, and proactivity to show the market that it has a long term plan outside of its core business. A surprise twist to the known story was the latest update that JLP will be assessing whether they can begin to establish an international footprint, which will require 6 months to figure out if copper and gold waste tailings from Caerus Mineral Resources are worth their complete attention.

These updates alone certainly continue to whet the appetite for JLP, so much so that the share price has broken up through 20p this week! The H1 trading update a few months ago was very bullish and it wouldn’t take a genius to estimate the full year trading update to 30 June 2021 to be along the same lines, if not better. I look forward to the full year trading update and results in Summer/Autumn 2021 and continue to hold and buy if needed as further operational updates come to light.

The Writer's views are their own, not a representation of London South East's. No advice is inferred or given. If you require financial advice, please seek an Independent Financial Adviser.