Jubilee Metals Group PLC - London and Johannesburg-listed metals processing firm - Signs joint venture agreement with unnamed private Zambian firm to secure rights to 2.0 million tonnes of copper run-of-mine material. Further potential to increase the supply of copper ore to 4.0 million tonnes with additional 2.5 Mt of copper containing tailings available for processing. Project will target near-term production of copper concentrate through a dedicated newly built copper concentrating facility. Facility to be commissioned in two phases with the first copper concentrate and revenue expected within four months. Total project capital expects to be USD15 million invested over a period of 12 months.
Current stock price: London shares 4.74 pence, Johannesburg shares ZAR1.28
Year-to-date change: London shares up 22%, Johannesburg shares up 70%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Jubilee Metals (JLP)