Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Jubilee Metals Group PLC Registration number (4459850) AltX share code: JBL AIM share code: JLP ISIN: GB0031852162 ("Jubilee" or "the Company") Update on Kabwe project Jubilee Metals Group PLC notes the announcement made today by BMR Group PLC (?BMR?) reporting that BMR received, yesterday, a letter from the Mining Cadastre Department of Zambia dated 19 December 2017 terminating, with immediate effect, the aforementioned mining right in respect of BMR's Kabwe operation. BMR also states that the letter dated 19 December 2017, and received yesterday, indicates that BMR has 30 days to exercise its right of appeal. BMR intends to exercise this right as soon as practicable. Leon, Chief Executive Officer, says: ?This announcement was totally unexpected and Jubilee was not made aware of any potential challenge to the mining right. We are doing all things necessary to assist BMR to resolve this matter timeously and favourably. In this regard we have made contact with the mining ministry of Zambia to arrange an urgent discussion to clarify the reasons for such a notification and its impact on the Kabwe project. Jubilee will also use this opportunity to provide the Zambian Mining Cadastre Department with confirmation of Jubilee?s commitment to BMR, for the immediate execution of the Kabwe project. Jubilee will provide further clarity on the Kabwe project and the expected execution program following this discussion.? In the meantime, trading in BMR's shares have been suspended at BMR?s request.
Jubilee progresses Kabwe Project Jubilee Metals Group Plc is pleased to announce that after comprehensive technical, financial and legal due diligence it has advised BMR Group PLC (?BMR?) that it intends to exercise its option to earn a 40 % interest in its Kabwe project in Zambia (?Kabwe Project?). Highlights: - Jubilee has advised BMR that it wishes to take up its rights in regards to the Kabwe Project - This will, conditionally, allow Jubilee to increase its effective interest in the Kabwe Project to 57.41% (comprising 40% direct and 17.41% indirectly as a shareholder in BMR) - Comprehensive technical due diligence confirms grade predictions - Further test work provides encouraging processing results for future optimisation - Jubilee looks forward to fast track implementation along with its partner BMR - This agreement is subject only to final documentation against previously agreed binding commercial and material terms Leon Coetzer, Chief Executive said: ?The Jubilee board has satisfied itself that the Kabwe Project is indeed a project worthy of development. Our test work has confirmed the quality of the base asset and has provided encouraging results for integration into our future metallurgical studies. This joint venture with BMR takes Jubilee into the Kabwe Project in Zambia in alternative metals and countries and, we believe, has the potential to be significantly earnings enhancing once fully operational. This is consistent with our mission of commodity and country hedge. We intend to work with BMR to fast track this project into production.? About the Kabwe Project The Kabwe Project secures Jubilee a position in Zambia to recover, through its joint venture formed with BMR, lead, zinc and vanadium from historical surface mine tailings and discards. The Kabwe Project targets the recovery of lead, zinc and vanadium from an estimated 6.4 million tonnes (3.2 million JORC compliant) of surface assets. The joint venture will finance and execute the approved works programme with commercial production expected towards the end of 2018. Jubilee has the option to provide staged financing for the project secured against the shareholding of the project. The arrangement pools the significant resources from both companies to bring the project to account. AIM Rules compliance As per the announcement made on 23 October 2017, in the event that the increase in Jubilee?s interest in Kabwe is deemed to be a fundamental change of BMR?s business, in accordance with Rule 15 of the AIM Rules for Companies, the final agreements referred to above will be subject to approval by BMR?s shareholders. If such approval is not given, Kabwe Operations (guaranteed by BMR) shall immediately repay �300,000 of debt finance already provided by Jubilee together with 100 per cent interest thereon, Jubilee shall retain its interest in 15% of Kabwe Operatio
Jubilee progresses Kabwe Project Jubilee Metals Group Plc is pleased to announce that after comprehensive technical, financial and legal due diligence it has advised BMR Group PLC (?BMR?) that it intends to exercise its option to earn a 40 % interest in its Kabwe project in Zambia (?Kabwe Project?). Highlights: - Jubilee has advised BMR that it wishes to take up its rights in regards to the Kabwe Project - This will, conditionally, allow Jubilee to increase its effective interest in the Kabwe Project to 57.41% (comprising 40% direct and 17.41% indirectly as a shareholder in BMR) - Comprehensive technical due diligence confirms grade predictions - Further test work provides encouraging processing results for future optimisation - Jubilee looks forward to fast track implementation along with its partner BMR - This agreement is subject only to final documentation against previously agreed binding commercial and material terms Leon Coetzer, Chief Executive said: ?The Jubilee board has satisfied itself that the Kabwe Project is indeed a project worthy of development. Our test work has confirmed the quality of the base asset and has provided encouraging results for integration into our future metallurgical studies. This joint venture with BMR takes Jubilee into the Kabwe Project in Zambia in alternative metals and countries and, we believe, has the potential to be significantly earnings enhancing once fully operational. This is consistent with our mission of commodity and country hedge. We intend to work with BMR to fast track this project into production.? About the Kabwe Project The Kabwe Project secures Jubilee a position in Zambia to recover, through its joint venture formed with BMR, lead, zinc and vanadium from historical surface mine tailings and discards. The Kabwe Project targets the recovery of lead, zinc and vanadium from an estimated 6.4 million tonnes (3.2 million JORC compliant) of surface assets. The joint venture will finance and execute the approved works programme with commercial production expected towards the end of 2018. Jubilee has the option to provide staged financing for the project secured against the shareholding of the project. The arrangement pools the significant resources from both companies to bring the project to account. AIM Rules compliance As per the announcement made on 23 October 2017, in the event that the increase in Jubilee?s interest in Kabwe is deemed to be a fundamental change of BMR?s business, in accordance with Rule 15 of the AIM Rules for Companies, the final agreements referred to above will be subject to approval by BMR?s shareholders. If such approval is not given, Kabwe Operations (guaranteed by BMR) shall immediately repay �300,000 of debt finance already provided by Jubilee together with 100 per cent interest thereon, Jubilee shall retain its interest in 15% of Kabwe Operatio