Last checked at 4 May 2021 07:00
Registration number (4459850)
Altx share code: JBL
AIM share code: JLP
ISIN: GB0031852162
Jubilee Metals Group PLC
("Jubilee" or "the Company" or "the Group")
Jubilee expanding its international footprint - assessment of copper and gold assets in Cyprus
Jubilee, the AIM and Altx traded metals processing company refers its shareholders to the announcement released today by Caerus Mineral Resources ("Caerus") (LON: CMRS), an exploration and resource development company focused on developing mineral resources in Cyprus with a focus on copper and gold. Jubilee has entered into an agreement with Caerus ("Exclusivity Agreement") granting Jubilee a six-month exclusive period during which Jubilee will assess the technical merits, development and economic prospects of all of Caerus' surface-based mining waste and tailings assets in Cyprus.
The ultimate objective of the Exclusivity Agreement is to identify and define potential projects within the Caerus portfolio that can be scaled-up and prioritised into one or more joint venture arrangements with Jubilee, targeting profitable production using modern designs and technologies guided and financed by Jubilee. Jubilee would become operator of any assets which may be developed under any joint venture with Caerus. Caerus would retain ownership of any assets and Jubilee would benefit from a profit share.
The announcement recognises Jubilee's international brand and expertise in metals processing. The access under the Exclusivity Agreement to assess the Caerus copper and gold assets are consistent with Jubilee's continuous review of various global opportunities that could benefit from Jubilee's proven expertise in the processing of historical waste dumps.
This Exclusivity Agreement offers potential access to copper and gold grades in waste stockpiles that, with the dramatically changed commodity price environment for copper today, are significantly higher than was historically expected within the copper industry.
Jubilee looks forward to working with Caerus under the Exclusivity Agreement to evaluate the overall potential of the surface-based mining waste and tailings assets in Cyprus.
United Kingdom
4 May 2021
**ENDS**
For further information visit www.jubileemetalsgroup.com or contact:
Jubilee Metals Group PLC
Colin Bird/Leon CoetzerTel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Broker - Shard Capital Partners LLPDamon Heath/Erik WoolgarTel +44 (0) 20 7186 9900
Joint Broker - WHIreland
Harry Ansell/Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618
JSE Sponsor - Sasfin Capital (a member of the Sasfin group)
Sharon OwensTel +27 (0) 11 809 7500
PR & IR Adviser - St Brides Partners Limited
Catherine Leftley/Charlotte Hollinshead
Tel +44 (0) 20 7236 1177