https://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Wed, 24 Oct 2018 04:44:34 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Quarterly Operations Update Q3 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181017093001_13832090/ Wed, 17 Oct 2018 09:30:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181017093001_13832090/ <![CDATA[RNS press release - Jubilee gains full control of the Kabwe Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180806104618_13744943/ Mon, 06 Aug 2018 10:46:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180806104618_13744943/ <![CDATA[RNS press release - Clarification on BMR Group PLC & the Kabwe Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180803070002_13742406/ Fri, 03 Aug 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180803070002_13742406/ <![CDATA[RNS press release - Quarterly Operations Update Q2 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180719070002_13723269/ Thu, 19 Jul 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180719070002_13723269/ <![CDATA[RNS press release - Kabwe Project Status Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180702070005_13700554/ Mon, 02 Jul 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180702070005_13700554/ <![CDATA[RNS press release - Board Changes ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180621150004_13689166/ Thu, 21 Jun 2018 15:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180621150004_13689166/ <![CDATA[RNS press release - TR-1: notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180612140257_13676603/ Tue, 12 Jun 2018 14:02:57 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180612140257_13676603/ <![CDATA[RNS press release - Placement of BMR Shares fully executed ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180611083006_13674120/ Mon, 11 Jun 2018 08:30:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180611083006_13674120/ <![CDATA[RNS press release - Projects Status Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180607070006_13670094/ Thu, 07 Jun 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180607070006_13670094/ <![CDATA[News - Jubilee Metals expects to make Kabwe presentation to Zambian Mining Ministry this month ]]> https://www.proactiveinvestors.co.uk/companies/news/198195/jubilee-metals-expects-to-make-kabwe-presentation-to-zambian-mining-ministry-this-month-198195.html Jubilee Metals Group PLC (LON:BMR) has helped out its joint venture partner BMR’s efforts to resolve the settlement of approved past creditors.

Jubilee, which is working with BMR on the Kabwe project in Zambia, has agreed to allow BMR to hand over some of its Jubilee shares to settle around US$800,000 (roughly £597,000) in debts, thus waiving a “lock in” agreement pertaining to BMR’s Jubilee stake.

READ: Jubilee Metals to buy 29% stake in Kabwe JV partner BMR for £2.8mln​

"We are making excellent progress on the Kabwe project with the construction of the primary leach circuit well underway. Final tests on the ore handling systems are expected to conclude shortly to confirm equipment selection,” said Leon Coetzer, the chief executive officer of Jubilee.

“Further details on the project will be released following the project presentation to the Zambian Mining Ministry expected to be held on or before 20 June 2018,” he added.

Shares in Jubilee fell 0.15p to 2.58p on news of the waiving of the lock-in period.

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Mon, 04 Jun 2018 13:51:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198195/jubilee-metals-expects-to-make-kabwe-presentation-to-zambian-mining-ministry-this-month-198195.html
<![CDATA[RNS press release - Kabwe and BMR Group PLC ("BMR") Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180604091501_13665375/ Mon, 04 Jun 2018 09:15:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180604091501_13665375/ <![CDATA[News - Jubilee Metals executes Kabwe agreement with BMR ]]> https://www.proactiveinvestors.co.uk/companies/news/196229/jubilee-metals-executes-kabwe-agreement-with-bmr-196229.html Jubilee Metals Group PLC (LON:JLP) has executed the shareholders' and operating agreement with BMR Group PLC (LON:BMR) for the Kabwe project in Zambia.

The two companies had the licence for the project reinstated earlier in the month, with Jubilee to be the operator and developer.

READ: Jubilee Metals executes processing agreement with Northam Platinum

Jubilee will provide £2mln for an effective 40% direct ownership of Kabwe in addition to holding 29.01% of BMR. 

The plan at Kabwe is to extract lead, zinc and vanadium from surface tailings left by the historical mine.

Leon Coetzer, Jubilee’s chief executive, said the next step is the project business plan and the presentation of the execution plan to the Zambian authorities.

The agreement with BMR calls for the final business and execution plan to be approved by June 15.

“We will continue with site preparation work and confirming equipment specifications during this time.”

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Wed, 02 May 2018 08:45:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/196229/jubilee-metals-executes-kabwe-agreement-with-bmr-196229.html
<![CDATA[RNS press release - Jubilee Executes Kabwe Project Agreements ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180502070014_13626602/ Wed, 02 May 2018 07:00:14 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180502070014_13626602/ <![CDATA[News - Jubilee Metals executes processing agreement with Northam Platinum ]]> https://www.proactiveinvestors.co.uk/companies/news/195222/jubilee-metals-executes-processing-agreement-with-northam-platinum-195222.html Jubilee Metals Group PLC (LON:JLP) said it has executed a processing agreement with Northam Platinum subsidiary Eland Platinum.

The AIM-listed miner said the agreement involves Northam funding the refurbishment of its platinum recovery circuit, including an existing recovery plant, to which Jubilee would begin transporting platinum rich material for processing from June 2018.

READ: Jubilee Metals boosts quarterly platinum group metals production by 30% at Hernic

Processing will target a minimum rate of 60,000 tonnes per month of platinum rich PlatCro material at a fixed processing cost, producing an estimated 2,800 ounces of platinum group metals (PGM) per month from February 2019.

Jubilee added that revenue from the sale of PGM concentrate, estimated at around US$2.4mln per month at current commodity prices, would be shared in an agreed earning split, in which the group said it would retain a “significant majority of the earnings”.

Leon Coetzer, Jubilee Metals' chief executive, said: "I am pleased to announce our processing agreement with Northam. The structure of the agreement captures the intent of both companies to develop a lucrative partnership in the processing of PGM and chrome rich material. It also opens the door to grow our partnership to engage in similar further opportunities with one of the world's largest platinum producers.”

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Wed, 18 Apr 2018 07:33:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/195222/jubilee-metals-executes-processing-agreement-with-northam-platinum-195222.html
<![CDATA[RNS press release - Jubilee Executes Processing Agreement ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180418070002_13608387/ Wed, 18 Apr 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180418070002_13608387/ <![CDATA[News - Jubilee Metals boosts quarterly platinum group metals production by 30% at Hernic ]]> https://www.proactiveinvestors.co.uk/companies/news/195126/jubilee-metals-boosts-quarterly-platinum-group-metals-production-by-30-at-hernic-195126.html Shares in Jubilee Metals Group PLC (LON:JLP) rose by more than 5% in early trade as the company’s Hernic operation in South Africa turned in record platinum group metals production numbers.

In March, Hernic produced 1,858 ounces of platinum, bringing to a close a healthy quarter in which total production was up 30% to 4,897 ounces.

READ: Jubilee Metals and BMR get Kabwe licence reinstated

What’s more, the unit cost per platinum group metal ounce produced was just US$434, allowing for significant margin on prevailing platinum and palladium prices.

As a result of all this, operational earnings from Hernic increased by 18% to £1.14mln.

"I am very pleased with the continued operational improvements at our Hernic operations,” said Leon Coetzer, chief executive of Jubilee. 

“I expect the second quarter of 2018 to deliver even better operational numbers as the Hernic operation continues to improve.”

He also commented on the company’s other major project, the Dilokong operation, also in South Africa, as well as operations further afield.

“Our DCM operation is going through a transitional phase as we gear up to execute the PGM project. We have temporarily suspended the processing of 3rd party ore at DCM due to continued variation in feed quality causing operational difficulties negatively impacting our production of chrome from the on-site tailings and surface waste material. It is an exciting period for Jubilee as we expand our operational reach.  Our projects team has a busy time ahead as we look to execute the PlatCro PGM project, DCM PGM project and the Kabwe project."

 

 

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Tue, 17 Apr 2018 08:28:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/195126/jubilee-metals-boosts-quarterly-platinum-group-metals-production-by-30-at-hernic-195126.html
<![CDATA[RNS press release - Quarterly Operations Update & Tjate Share Issue ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180417070005_13606647/ Tue, 17 Apr 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180417070005_13606647/ <![CDATA[News - Jubilee Metals and BMR get Kabwe licence reinstated ]]> https://www.proactiveinvestors.co.uk/companies/news/194311/jubilee-metals-and-bmr-get-kabwe-licence-reinstated-194311.html Jubilee Metals Group PLC (LON:JLP) and its partner BMR Group PLC (LON:BMR) have had their licence at the Kabwe project in Zambia restored, paving the way for development work to start.

Conditions attached to the licence reinstatement are that construction of the processing plant starts within 3 months, it is commissioned by 30 September and first production is achieved by end 2018.

READ: Jubilee Metals feels the benefit of the ramp-up at Hernic project

A lead, zinc and vanadium recovery circuit is part of the accelerated development programme.

Leon Coetzer, Jubilee’s chief executive, said the decision recognised the work already performed on the project and its readiness, while the partners were confident the conditions of the restated licence can be met.

In early trading, Jubilee Metals' shares were sharply higher at 3.02p.

 -- Adds share price --

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Thu, 05 Apr 2018 08:04:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/194311/jubilee-metals-and-bmr-get-kabwe-licence-reinstated-194311.html
<![CDATA[RNS press release - Kabwe Mining Licence Reinstated ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180405070003_13592333/ Thu, 05 Apr 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180405070003_13592333/ <![CDATA[RNS press release - Further Kabwe Project Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180329120001_13587015/ Thu, 29 Mar 2018 12:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180329120001_13587015/ <![CDATA[RNS press release - Appointment of Broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180321070008_13574750/ Wed, 21 Mar 2018 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180321070008_13574750/ <![CDATA[RNS press release - Jubilee Live Interactive Webcast ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180319134501_13572191/ Mon, 19 Mar 2018 13:45:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180319134501_13572191/ <![CDATA[News - Jubilee Metals feels the benefit of the ramp-up at Hernic project ]]> https://www.proactiveinvestors.co.uk/companies/news/192746/jubilee-metals-feels-the-benefit-of-the-ramp-up-at-hernic-project-192746.html Jubilee Metals Group PLC (LON:JLP) turned a profit before non-cash operating expenses and interest in the second half of 2017.

Profit for the period was £1.54mln versus a loss the year before of £233,000, although once operating costs, including depreciation and share-based payments are factored in the profit turned into a loss of £267,000, which still represented a significant improvement on the previous year's loss of £581,000.

Revenue rose to £5.99mln from £4.85mln, with revenue from the Hernic project in the period clocking in at £3.59mln.

READ: Jubilee Metals almost doubled quarterly earnings at Hernic platinum operation

Platinum group metals (PGM) production at the Hernic ferro chrome platinum and chrome tailings operation in the second half of 2017 was 6,629 ounces, with the unit cost per PGM ounce produced achieving a record low in the fourth quarter of US$382, making the project one of the lowest cost producers in the industry.

PGM production in the first two months of 2018 totalled 2,949 ounces.

At the Dilokong chrome mine platinum and chrome tailings operation, 26,922 tonnes of saleable chromite concentrate was produced in the reporting period.

Operational earnings attributable to Jubilee eased to £610,000 from £960,000 the year before.

“The Jubilee team has demonstrated their commitment to excellence by delivering the Hernic project in time and on-budget and ramping up the project to already achieve a unit cost per PGM ounce produced of only US$382.  These numbers demonstrate the return on investment offered by Jubilee's strategy for metals recovery from surface waste and stockpiles,” said Leon Coetzer, the chief executive officer of Jubilee.

“Jubilee's project pipeline includes further surface projects containing platinum and chrome and we have expanded our reach into Zambia by securing a position in the surface lead, zinc and vanadium project at Kabwe. We are actively pursuing further potential projects to include further metals such as cobalt and copper into our pipeline,” Coetzer said.

Shares in Jubilee opened 1% higher at 2.93p.

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Wed, 07 Mar 2018 08:18:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/192746/jubilee-metals-feels-the-benefit-of-the-ramp-up-at-hernic-project-192746.html
<![CDATA[RNS press release - UNAUDITED INTERIM RESULTS 31 DECEMBER 2017 ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180307070004_13557290/ Wed, 07 Mar 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180307070004_13557290/ <![CDATA[RNS press release - Statement regarding Broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180302114501_13552908/ Fri, 02 Mar 2018 11:45:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180302114501_13552908/ <![CDATA[News - Jubilee Metals and BMR extend long-stop date on Kabwe project after notice of cancellation ]]> https://www.proactiveinvestors.co.uk/companies/news/192407/jubilee-metals-and-bmr-extend-long-stop-date-on-kabwe-project-after-notice-of-cancellation-192407.html Jubilee Metals Group PLC (LON:JLP) and its joint venture partner for the Kabwe project, BMR Group (LON:BMR), have agreed to extend the fulfilment on all conditions under their agreement from the end of February to the end of March.

The decision to extend the long-stop date comes after BMR lost its mining right for the Kabwe project in Zambia.

Jubilee said the extension will allow for the Kabwe project to remedy the cancellation of the current small scale mining licence.

READ: Jubilee Metals says “actively supporting” BMR in its appeal against notice of cancellation in Zambia

The company added that it will continue to assist BMR in its appeal against the notice of cancellation

"As previously stated we are actively supporting BMR during this process,” said Jubilee chief executive Leon Coetzer.

“Our two teams continue to work unabated as we target to finalise shortly the design parameters for the processing plant.  

“I have been encouraged by my ongoing engagement with the Zambian Mining Ministry and I have been invited to follow-up discussions with the Zambian Mining Ministry as soon as the BMR appeal has been submitted."

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Thu, 01 Mar 2018 08:03:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/192407/jubilee-metals-and-bmr-extend-long-stop-date-on-kabwe-project-after-notice-of-cancellation-192407.html
<![CDATA[RNS press release - Further Kabwe Project Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180301070007_13550129/ Thu, 01 Mar 2018 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180301070007_13550129/ <![CDATA[News - Jubilee Metals says “actively supporting” BMR in its appeal against notice of cancellation in Zambia ]]> https://www.proactiveinvestors.co.uk/companies/news/192134/jubilee-metals-says-actively-supporting-bmr-in-its-appeal-against-notice-of-cancellation-in-zambia-192134.html Jubilee Metals Group PLC (LON:JLP) has noted the announcement made today by BMR Group PLC (LON:BMR) providing an update on the appeal against the notice of cancellation, announced on 7 February 2018.

The AIM-listed group said BMR also stated that following meetings between the company and directors of the Zambian Mining Ministry and Mining Cadastre, preparation of the company's appeal against the notice of cancellation, is well advanced and the formal appeal is expected to be submitted by no later than 2 March 2018.

READ: Jubilee Metals and BMR Group clarify appeal situation for Kabwe project

Leon Coetzer, Jubilee’s chief executive commented: "We are actively supporting BMR during this process. We have engaged directly with the Zambian Department of Mines to demonstrate Jubilee's commitment to providing its technical, operational and financial strength to the Kabwe project. Our engagements were well received by the Zambian Department of Mines.” 

He added: “The Zambian Department of Mines' representatives acknowledged the combined strength of the BMR and Jubilee team and recognised the significant progress made by the team towards the execution of the Kabwe project. Our engagements with the Zambian Mining Ministry afforded Jubilee the opportunity to present the Company's extensive capability in the recovery of metals from waste as well as the associated environmental improvements the projects could offer.”

Coetzer said: “Against the aforementioned it was agreed to have a follow-up discussion with the Department of Mines to further present the detail around our capabilities as well as to receive an update on the Kabwe Project.

“These discussions will follow the submission of the appeal by BMR expected to be submitted no later than the 2 March 2018."

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Fri, 23 Feb 2018 15:58:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/192134/jubilee-metals-says-actively-supporting-bmr-in-its-appeal-against-notice-of-cancellation-in-zambia-192134.html
<![CDATA[RNS press release - Further Kabwe Project Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180223153507_13544627/ Fri, 23 Feb 2018 15:35:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180223153507_13544627/ <![CDATA[News - Jubilee Metals and BMR Group clarify appeal situation for Kabwe project ]]> https://www.proactiveinvestors.co.uk/companies/news/191360/jubilee-metals-and-bmr-group-clarify-appeal-situation-for-kabwe-project-191360.html Jubilee Metals Group Plc (LON:JLP), in an after market close statement, told investors that associate BMR Group now understands that it has the right to appeal at the Kabwe project.

“Jubilee will support BMR to favourably conclude this process,” the company said.

READ: Jubilee Metals works to resolve Kabwe joint venture partner's mining right termination

Earlier on Wednesday, Jubilee said “doing all things necessary” to assist BMR after the joint venture partner lost its mining right for their Kabwe joint venture project in Zambia.

Shares in BMR were suspended on Wednesday after receiving a letter from the Mining Cadastre Department of Zambia terminating its mining right for the Kabwe lead, zinc and vanadium project in the country.

READ: Jubilee Metals elects to exercise its earn-in at Kabwe

The letter was dated 19 December 2017 and, at that time it was communicated that BMR had 30 days to exercise its right of appeal.

However, according to Wednesday’s later announcement, BMR now understands that it has 30 days from 6 February 2018.

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Thu, 08 Feb 2018 08:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/191360/jubilee-metals-and-bmr-group-clarify-appeal-situation-for-kabwe-project-191360.html
<![CDATA[RNS press release - Further Update re Kabwe project ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180207170047_13525417/ Wed, 07 Feb 2018 17:00:47 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180207170047_13525417/ <![CDATA[News - Jubilee Metals works to resolve Kabwe joint venture partner's mining right termination ]]> https://www.proactiveinvestors.co.uk/companies/news/191326/jubilee-metals-works-to-resolve-kabwe-joint-venture-partner-s-mining-right-termination-191326.html Jubilee Metals Group PLC (LON:JLP) has said it is “doing all things necessary” to assist BMR Group PLC (LON:BMR) after the latter lost its mining right for their Kabwe joint venture project in Zambia.

Shares in BMR were suspended on Wednesday after receiving a letter from the Mining Cadastre Department of Zambia terminating its mining right for the Kabwe lead, zinc and vanadium project in the country.

READ: Jubilee Metals elects to exercise its earn-in at Kabwe

The letter was dated 19 December 2017 and gave BMR 30 days to exercise its right of appeal.

BMR chairman Alex Borrelli, said: "We had understood that all mining companies in Zambia had received the default notice and we had responded accordingly.

“We will now pursue all avenues to rectify this situation as soon as possible and will issue a further announcement when we have further news."

The news comes a day after Jubilee said it had completed its due diligence at Kabwe and elected to exercise its option to earn a 40% interest. This took its effective interest up to 57.41%, since already owns a stake in BMR.

Jubilee says it remains committed to BMR

In response to the news about BMR, Jubilee chief executive Leon Coetzer said: “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 provide further clarity on the Kabwe project and the expected execution of the project following its discussion with the mining ministry.

It said it remains committed to BMR for the immediate execution of the Kabwe project.

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Wed, 07 Feb 2018 15:55:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/191326/jubilee-metals-works-to-resolve-kabwe-joint-venture-partner-s-mining-right-termination-191326.html
<![CDATA[RNS press release - Update on Kabwe project ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180207152002_13525286/ Wed, 07 Feb 2018 15:20:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180207152002_13525286/ <![CDATA[News - Jubilee Metals elects to exercise its earn-in at Kabwe ]]> https://www.proactiveinvestors.co.uk/companies/news/191198/jubilee-metals-elects-to-exercise-its-earn-in-at-kabwe-191198.html Jubilee Metals Group Plc (LON:JLP) has completed its due diligence at the Kabwe lead, zinc and vanadium project in Zambia, and has elected to exercise its option to earn a 40% interest.

This will take Jubilee’s effective interest up to 57.41%, as it already owns a stake in its partner at Kabwe, BMR Group PLC (LON:BMR).

"The Jubilee board has satisfied itself that the Kabwe Project is indeed a project worthy of development,” said Jubilee chief executive Leon Coetzer.

“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."

 

 

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Tue, 06 Feb 2018 07:51:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/191198/jubilee-metals-elects-to-exercise-its-earn-in-at-kabwe-191198.html
<![CDATA[RNS press release - Jubilee progresses Kabwe Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180206070003_13522411/ Tue, 06 Feb 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180206070003_13522411/ <![CDATA[RNS press release - TR-1: notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180205085618_13521227/ Mon, 05 Feb 2018 08:56:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180205085618_13521227/ <![CDATA[RNS press release - Jubilee Live Interactive Webcast ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180201110001_13518082/ Thu, 01 Feb 2018 11:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180201110001_13518082/ <![CDATA[News - Jubilee Metals almost doubled quarterly earnings at Hernic platinum operation ]]> https://www.proactiveinvestors.co.uk/companies/news/190844/jubilee-metals-almost-doubled-quarterly-earnings-at-hernic-platinum-operation-190844.html Jubilee Metals Group PLC (LON:JLP) told investors that operational earnings from the Hernic platinum operations had nearly doubled in the fourth quarter.

Fourth quarter operational earnings from the site amounted to £0.97mln, up 94% compared to £0.5mln in the preceding quarter.

READ: Jubilee Metals set for further progress in 2018 as it ramps up production

At the same time, the operation’s cost per unit reduced to US$382 per ounce of platinum group metals (PGM) from US$476 in the third quarter of 2017. PGM production output was up 31% to 3,755 ounces, from 2,874 ounces in the earlier three months.

Project revenue was up 33% to £2.05mln, from £1.54mln, meanwhile, group operations revenue rose 24% to £3.3mln from £2.67mln. Group operations earnings improved 43% to £1.22mln, from £0.85mln.

"The Jubilee team has delivered an exceptional performance despite the traditional operational slowdown over the festive period,” said chief executive Leon Coetzer in a statement.

“Our Hernic operation has continued to deliver significant operational improvements quarter on quarter, this despite the budgeted increased maintenance and operational slow down over the festive period.”

READ: Jubilee Metals to buy 29% stake in Kabwe JV partner BMR for £2.8mln

He added: “We have implemented necessary process upgrades at our DCM operations to allow for a more flexible operation to expand the processing of 3rd party material. 

“We will also be implementing operational efficiency enhancements developed by our in-house technical teams.  I look forward to rolling-out these enhancements across our project portfolio.”

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Tue, 30 Jan 2018 14:14:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/190844/jubilee-metals-almost-doubled-quarterly-earnings-at-hernic-platinum-operation-190844.html
<![CDATA[RNS press release - Quarterly Operations Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180130134501_13514774/ Tue, 30 Jan 2018 13:45:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180130134501_13514774/ <![CDATA[RNS press release - TR-1: notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180130080001_13514096/ Tue, 30 Jan 2018 08:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180130080001_13514096/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180129164833_13513453/ Mon, 29 Jan 2018 16:48:33 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180129164833_13513453/ <![CDATA[News - Jubilee Metals to buy 29% stake in Kabwe JV partner BMR for £2.8mln ]]> https://www.proactiveinvestors.co.uk/companies/news/190037/jubilee-metals-to-buy-29-stake-in-kabwe-jv-partner-bmr-for-28mln-190037.html Jubilee Metals Group PLC (LON:JLP) is to buy a stake in BMR Group PLC (LON:BMR), its joint venture partner in the Kabwe project Zambia.

The company will acquire a 29.01% holding in the enlarged issued share capital of BMR for £500,000 in cash and 63,166,969 Jubilee shares worth £2.3mln based on closing price of 3.65p each on 11 January.

READ: Jubilee Metals places shares at a premium

The deal will raise Jubilee's effective interest in Kabwe to 57.41%, subject to its election to execute the project.

"This strategic acquisition is consistent with our stated mission to take our brand into low risk surface projects in other commodities and other countries,” said chief executive Leon Coetzer.

“The acquisition secures Jubilee the right to a significantly increased effective interest in the Kabwe project which is dependent only on our decision to progress the Kabwe project, which remains subject to the completion of our due diligence.”

The company expects to come to a decision on whether to proceed with the Kabwe project by 28 February.

Jubilee entered into a joint venture with BMR in October last year to target the recovery of lead, zinc and vanadium at Kabwe.

Coetzer said ongoing due diligence of the Kabwe project has confirmed Jubilee’s understanding of the “significant size and quality of the various surface assets”.

READ: Jubilee Metals set for further progress in 2018 as it ramps up production

“I was particularly encouraged by our metal recovery trials which included the leachability of the zinc, lead and the vanadium,” he said.

“These results confirmed the recoverability of the targeted metals.”

Due diligence is now focused on working with BMR to establish the optimal recovery route for extracting the metals from a commercial standpoint in an environmentally responsible manner, he said.

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Mon, 15 Jan 2018 13:43:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/190037/jubilee-metals-to-buy-29-stake-in-kabwe-jv-partner-bmr-for-28mln-190037.html
<![CDATA[RNS press release - Jubilee Acquires Significant Equity Position - BMR ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180115130001_13496692/ Mon, 15 Jan 2018 13:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180115130001_13496692/ <![CDATA[News - Jubilee Metals places shares at a premium ]]> https://www.proactiveinvestors.co.uk/companies/news/189721/jubilee-metals-places-shares-at-a-premium-189721.html Shareholders in Jubilee Metals Group PLC (LON:JBL) were cheered by news the company has placed shares at a premium to the prevailing market price.

Fund manager Miton Group and international wealth firm Veddis have bought shares at 3.6p a pop, raising £4.5mln for Jubilee in the process.

READ: Jubilee Platinum executes US$50mln project funding

The placing includes the issue of 62.5mln warrants with an exercise price 6.12p each.

The shares rose 0.14p to 3.66p on the news.

Jubilee, formerly known as Jubilee Platinum, said the financing, in collaboration with the project financing arrangements with RiverFort Global, will provide project funding for the expansion drive of its global metals strategy.

"The investment from such eminent financial institutions is in recognition of Jubilee's success in the recovery of metals from surface materials and tailings and validates the company's strategy to establish itself as leading global processor of such metals,” said Leon Coetzer, the chief executive officer of Jubilee.

“I believe this initial institutional entry has the potential to be followed by others and it is my intention in 2018 to provide the platform of confidence, which will attract further investment. 

READ: Jubilee Metals expects further growth in platinum output from Hernic in fourth quarter

“Jubilee, having successfully implemented the Hernic and DCM projects, is now poised for rapid expansion in other commodities and into other countries," he added.

 

 

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Tue, 09 Jan 2018 09:37:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/189721/jubilee-metals-places-shares-at-a-premium-189721.html
<![CDATA[RNS press release - Jubilee Secures Institutional Financing ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180109084502_13489676/ Tue, 09 Jan 2018 08:45:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180109084502_13489676/ <![CDATA[News - Jubilee Metals expects further growth in platinum output from Hernic in fourth quarter ]]> https://www.proactiveinvestors.co.uk/companies/news/189602/jubilee-metals-expects-further-growth-in-platinum-output-from-hernic-in-fourth-quarter-189602.html Jubilee Metals Group PLC (LON:JLP), formerly Jubilee Platinum, expects to record a further increase in platinum production from its Hernic project in South Africa in the fourth quarter.

The company estimates production from operations at the chrome and platinum recovery plant at Hernic's ferrochrome mine will exceed 25% growth compared to the third quarter.

It also reassured investors that it has taken action to address a tailings spill at the plant on 29 December.

The spill had caused a V-shaped failure of the side wall of compartment 2 of the tailings dam but this was resealed on the same day.

The spillage was also contained on the adjacent property, which was previously used as an opencast mining area.  

Clean-up of the spill has begun and Jubilee expects to resume depositing of final processed tailings in compartment 2 before the end of the month. 

Compartment 2 of the tailings dam was used for depositing the final chrome and platinum processed tailings from Jubilee's Hernic project operation.

In the meantime Jubilee has been using compartment 1 of the tailings dam for depositing the final processed tailings.

“Jubilee will continue operating its PGM processing plant and will reduce throughput only during the interim period by approximately 30% to allow Hernic to fully restore compartment 2,” it said.

 

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Fri, 05 Jan 2018 15:10:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/189602/jubilee-metals-expects-further-growth-in-platinum-output-from-hernic-in-fourth-quarter-189602.html
<![CDATA[RNS press release - Jubilee Hernic PGM Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180105144502_13487290/ Fri, 05 Jan 2018 14:45:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180105144502_13487290/ <![CDATA[News - Jubilee Metals set for further progress in 2018 as it ramps up production ]]> https://www.proactiveinvestors.co.uk/companies/news/189544/jubilee-metals-set-for-further-progress-in-2018-as-it-ramps-up-production-189544.html Jubilee Metals Group (LON:JLP), formerly Jubilee Platinum, has a promising year ahead as it continues to ramp up production from its mines in South Africa.

The company, which changed its name in December, achieved a jump in 2017 revenue on the back of rising output from its two tailings operations in South Africa.

Turnover rose to £9.47mln (£1.47mln) in the year to June and losses before impairments narrowed to £2.1mln from £3.41mln.

READ: Jubilee Platinum revenues soar as South Africa operations come on-stream

Jubilee has chrome and platinum reprocessing plants at the Hernic and Dilokong mines in South Africa.

Dilokong was the main contributor to overall sales last year (£9.37mln), while Hernic generated first sales of £430,000 in the final quarter.

Hernic continues to deliver results

Since year end, production has continued to grow at Hernic, rising to 2,874 ounces of platinum (PGM) in the three months to September, compared to 808oz in the previous quarter.

In a brief update on Hernic in January 2018, Jubilee said it expects PGM production growth of more than 25% quarter-on-quarter in the fourth quarter.

READ: Jubilee Metals expects further growth in platinum output from Hernic in fourth quarter Jubilee enters lead and zinc recovery joint venture

In October the company entered a joint venture with BMR Group to target the recovery of lead, zinc and vanadium at the Kabwe project in Zambia.

The partners aim to deliver commercial production of lead and zinc this year.

“This transaction is in line with our mission to take our brand and expertise across country borders and commodities,” said chief executive Leon Coetzer.

“This project is meaningful in scope, diversity and potential contribution to the Company's earnings. The Kabwe project offers immediate unencumbered access to a large surface stock rich in lead, zinc and vanadium created from historical mining and processing activities.”

Jubilee buys stake in BMR

Jubilee in January said it would buy a 29.01% stake in BMR for £500,000 in cash and 63,166,969 Jubilee shares worth £2.3mln.

The deal will raise Jubilee's effective interest in Kabwe to 57.41%, subject to its election to execute the project.

READ: Jubilee Metals to buy 29% stake in Kabwe JV partner BMR for £2.8mln

"This strategic acquisition is consistent with our stated mission to take our brand into low risk surface projects in other commodities and other countries,” Coetzer said.

“The acquisition secures Jubilee the right to a significantly increased effective interest in the Kabwe project which is dependent only on our decision to progress the Kabwe project, which remains subject to the completion of our due diligence.”

Project funding in place

Jubilee is well funded to carry out its plans this year.

In August of last year it told investors it had executed a US$50mln project funding agreement to support its metals recovery business.

Pre-approved debt funding is being injected at project level directly, by investment group RiverFort Capital Group. The funding commitment is for an initial 33-month period.

The company has highlighted that the deal is structured at project level to minimise dilution and enhance shareholder value.

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Thu, 04 Jan 2018 14:54:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/189544/jubilee-metals-set-for-further-progress-in-2018-as-it-ramps-up-production-189544.html
<![CDATA[News - Jubilee Platinum to begin trading as Jubilee Metals Group next week ]]> https://www.proactiveinvestors.co.uk/companies/news/188296/jubilee-platinum-to-begin-trading-as-jubilee-metals-group-next-week-188296.html Jubilee Platinum PLC’s (LON:JLP) will begin trading as Jubilee Metals Group from Friday, 15 December, the company announced on Tuesday.

Shareholders on Monday passed the resolution for the name change. The new website with the new name will be launched next Friday.

The company’s ticker on AIM will remain as JLP.

The last day to trade in Jubilee shares in respect of the name change will be on Tuesday, 12 December. 

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Tue, 05 Dec 2017 15:46:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/188296/jubilee-platinum-to-begin-trading-as-jubilee-metals-group-next-week-188296.html
<![CDATA[RNS press release - Change of name to Jubilee Metals Group PLC ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20171205143002_13454782/ Tue, 05 Dec 2017 14:30:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20171205143002_13454782/