Jubilee Metals Group PLC Further Acquisition of PGM material (8534A)
04 Junio 2021 - 1:16AM
UK Regulatory
TIDMJLP
RNS Number : 8534A
Jubilee Metals Group PLC
04 June 2021
Registration number (4459850)
Altx share code: JBL
AIM share code: JLP
ISIN: GB0031852162
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
Jubilee Metals Group PLC
("Jubilee" or "the Company" or "the Group")
Further Acquisition of PGM material in the Eastern Limb, South
Africa
Jubilee, a leader in metals processing with operations in Africa
(AIM: JLP/Altx: JBL), is pleased to announce a further substantial
acquisition of the rights to 944 000 tonnes of PGM containing
tailings in the Eastern Limb of the PGM-rich Bushveld Complex. This
comes in quick succession to the PGM Supply Agreements entered in
to and the acquisition of 255 000 tonnes of PGM containing material
in the Western Limb, as announced on 3 June 2021.
Highlights
-- Acquired the rights to 944 000 tonnes of PGM containing
surface tailings (before accounting for any moisture) in the
Eastern Limb
-- This is in addition to the recent PGM Supply Agreements in
the Eastern Limb and the acquisition of 255 000 tonnes of PGM
containing material
-- Demonstrates Jubilee as the go-to company with the knowledge
and IP to maximise value of these surface tailings
-- Targeted to commence with the upliftment and transport of the
PGM material during June 2021 at a minimum rate of 30 000 tonnes
per month, the equivalent of 1 600 PGM ounces per month
-- Acquisition fully commits the expanded Inyoni PGM capacity
prior to commissioning commencing in July 2021 without committing
existing historical surface tailings
PGM - 6 Element Platinum Group Metals including platinum,
palladium, rhodium, ruthenium, osmium and gold
Leon Coetzer, CEO of Jubilee, commented: "I am thrilled we have
been able to secure a further significant amount of PGM containing
surface material in the Eastern Limb, in such quick succession to
the PGM Supply Agreements we announced on 3 June 2021. The Eastern
Limb has been a key focus of Jubilee to expand our PGM reach and
operational capacity and this material further solidifies our
presence there.
"Our reputation as the go-to partner in an ever expanding
operational footprint is just another example of our ability to
outpace competitors and drive growth in the region and I am highly
confident that we will secure further long term feed supplies and
operational presence driving our sustained earnings in South
Africa."
Further Details
Jubilee has acquired the rights to approximately 944 000 tonnes
(before accounting for any moisture) of surface tailings containing
PGMs in the Eastern Limb. The consideration is linked to the
prevailing PGM basket price and is payable monthly in advance of
uplifting the material and transporting it to Jubilee's Inyoni PGM
plant. Jubilee has targeted to commence the upliftment of the PGM
material during June 2021 targeting a minimum rate of 30 000 tonnes
per month, the equivalent of 1600 PGM ounces per month. Until
recently, Jubilee's current PGM operational footprint has been
limited to the Western Limb, a single area of the two main PGM
areas in South Africa.
The material will be initially processed at Jubilee's expanded
Inyoni PGM facility and this transaction, together with the
recently announced PGM Supply Agreements, ensures that the expanded
Inyoni PGM capacity is fully committed with current arising
tailings alone which excludes the existing historical tails already
secured by Jubilee which offers the opportunity to further expand
the PGM processing capacity. As previously announced, consideration
is being given to implementing a dedicated processing facility in
the Eastern Limb to further expand the Company's processing
footprint but in any event, this acquisition of material provides
the option to Jubilee to secure additional processing capacity
through acquisition, partnership or construction of a new facility
to further expand its processing footprint.
United Kingdom
4 June 2021
**ENDS**
For further information visit www.jubileemetalsgroup.com 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 - Sasfin Capital (a member of the Sasfin group)
Sharon Owens
Tel +27 (0) 11 809 7500
PR & IR Adviser - St Brides Partners Limited
Catherine Leftley/Charlotte Hollinshead
Tel +44 (0) 20 7236 1177
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