TIDMJLP
RNS Number : 8774V
Jubilee Metals Group PLC
16 December 2021
Jubilee Metals Group Plc
Registration number (4459850)
Altx share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or the "Company" or the "Group")
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BE IN THE PUBLIC DOMAIN.
16 December 2021
Strategic update - Global Development Opportunities
Jubilee Metals Group PLC (AIM: JLP/Altx: JBL), a diversified
metals processing business with operations in Africa, is pleased to
update shareholders on its plans for the roll-out of its global
metals processing strategy going into 2022. In developing this
global strategy, Jubilee will seek to leverage the unique
intellectual capital it has developed over 10 years and from which
it has created two successful metal recovery businesses in South
Africa (chrome & PGMs) and Zambia (copper) respectively.
Jubilee believes its proven ability to process ore from multiple
sources through a single, centralised processing unit, while at the
same time cleaning up historical environmental mine tailings
liabilities to the benefit of all stakeholders, will both create
opportunities and give Jubilee a competitive advantage as it
pursues further international opportunities.
Jubilee recently announced a year of significant growth with
audited annual results to 31 June 2021 showing revenues increasing
by 143% to GBP133 million, attributable operational earnings growth
of 183% to GBP71 million and adjusted profit before tax up 324% to
GBP52 million. This growth was achieved following a period of
exceptional operational developments in South Africa, and crucially
in the newer jurisdiction in Zambia. Growth was achieved in all of
the Company's core business units; PGMs and Chrome and Copper with
maiden earnings generated from Jubilee's new Zambian Copper
portfolio. During this period, Jubilee entered a phase of new
build, extended existing facilities and executed a number of
targeted transactions and investments to not only underpin growth,
but which also offer the opportunity for further growth.
Jubilee's leading metal processing expertise can be deployed in
multiple jurisdictions, and it has always been a major part of the
Company's strategy to grow internationally. The recent success of
the Zambian strategy demonstrates how, in a relatively short period
of time compared with mining projects, Jubilee can establish itself
as a dominant player in country, broadening its commodity exposure,
achieving early revenues and setting itself up for significant
operational and financial growth long into the future. Outside of
Africa, the Company is already working with Caerus Mineral
Resources to research and test dumps in Cyprus, left by many mining
operations over many years.
Increasingly, Jubilee is receiving approaches to work on new
projects across continents and it is now appropriate timing to look
to broaden the Company's focus in an organised, strategic, but
aggressive way, with the global roll-out of the Company's brand,
'The Jubilee Way', a method of operation in the tailings space
unique to Jubilee.
The international opportunities available to Jubilee are vast
and the Board of Directors intends to create and allocate
significant resource during 2022 to the global roll-out strategy,
while also recognising the requirements to materially broaden
current in-house and board-level expertise. A standalone business
unit will be created in the New Year comprising a number of key
management team members to identify and procure the best
opportunities in the global arena, whilst maintaining the
fundamental approach of risk management. This new business unit
will combine and integrate the technical, commercial and country
risks and commodity fundamentals and will develop an overall
five-year strategy for growth. Going forward, Jubilee intends to
maintain centralised control over finance and business development,
with a decentralised approach to country management.
As the detailed strategy is developed, further announcements
will be made during the first half of 2022.
Leon Coetzer, CEO, said: "Jubilee has built a leading position
in the metals processing world and it is with great excitement that
we launch our global growth strategy. It is not often that one
finds oneself in a unique space, positioned to make a difference on
a global scale. We have made significant progress over recent
months at both our South African and Zambian operations, as well as
outside the African continent, with the collaboration with Cyprus
based Caerus Mineral Resources, and now feels the opportune moment
to formally implement a global roll-out strategy.
"To do this we will look to expand the team we have in place,
bringing together an executive and non-executive team that will
really drive the international strategy with their experience and
contacts. The Jubilee board has been fundamental to date to our
success, and we will consider carefully its development going into
the first half of 2022. The 'Jubilee Way' is the product of a
highly capable team, and I will maintain all of the principals
developed to ensure that the next phase of our growth is
accelerated in a positive, green and well governed manner."
Colin Bird, Non-executive Chairperson, said: "The development of
Jubilee over recent years has been an exciting period for all of us
concerned, from the formation of the business to its exceptional
growth to reach our current, very strong, financial and operational
position. During this period, the world's views on environmental
issues have accelerated and transformed and it will no longer
accept anything but the highest standards towards the creation of a
greener planet.
"Jubilee is now well positioned to expand internationally, and
to do so must further tailor the structure and knowledge base of
the business. It is critical that we have individuals in place with
the specific capability, values, and experience to move the Company
forward. I personally recognise in reaching this point that it is
appropriate that I move on to allow a new Chairperson to steer the
Company in the next phase of its evolution. The dedication, energy
and skills I have applied, and continue to apply, are more
appropriate to companies which are at an earlier stage of their
development, and I look forward to continuing my endeavours in that
arena. I therefore have committed to assist the Board to find a
replacement over the next 6 months and to assist in overall
succession planning. We look forward to providing details of our
global roll-out strategy and board developments over the coming
weeks and months. Onwards and upwards."
United Kingdom
16 December 2021
For further information visit www.jubileemetalsgroup.com ,
follow Jubilee on Twitter (@Jubilee_Metals) or contact:
Jubilee Metals Group PLC
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555
Broker - Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel +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 - Questco Corporate Advisory Proprietary Limited
Sharon Owens
Tel: +27 (11) 011 9212
PR & IR Adviser - Tavistock
Jos Simson/ Gareth Tredway/Charles Vivian
Tel: +44 (0) 207 920 3150
Jubilee Metals Group is a diversified metal recovery business
with a world-class portfolio of projects in South Africa and
Zambia. We create value for all stakeholders through the
transformation of mining liabilities into profitable assets in a
manner that addresses mining's historical footprint and improves
the quality of life for surrounding communities. Our distinguishing
value proposition is our net positive impact on all stakeholders
and the environment.
Our business model focuses on the retreatment and metals
recovery from mine tailings, waste, slag, slurry and other
secondary materials generated from mining operations. In effect,
while extracting maximum financial returns, we responsibly
rehabilitate environments scarred by the surface footprint of
historical mining operations and solving air and water pollution
issues associated with those installations.
The Company's expanding multi-project portfolio provides
exposure to a broad commodity basket including Platinum Group
Metals ('PGMs'), chrome, lead, zinc, vanadium, copper and
cobalt.
Jubilee is listed on the London Stock Exchange's AIM (ticker:
JLP) and the Johannesburg Stock Exchange (ticker: JB).
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