Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF) told investors it has now sold its South African chrome and platinum operations, with the company receiving US$15 million as the the first tranche of deal proceeds.
The firm is now focussing soley on its Zambian copper operations (while still retaining an interest in Tjate platinum project). A three-pillar strategy aims to build production capacity of 25,000 tonnes of copper units per year through its Roan Concentrator, Sable Refinery and Large Waste Project.
Current output at Roan reached 915 tonnes of copper in concentrate for the first quarter of FY2026, in line with guidance.
"Our Roan operation is performing to plan, which at present is utilising approximately 30,000 tonnes per month of the installed 45,000 tonnes per month mill and float capacity to process previously mined materials grading at an average of 1.6% copper," said chief executive Leon Coetzer.
"We hold the option to increase throughput further through both increased processing of historical tailings material and the introduction of the new Roan front-end."
Coetzer added: "Meanwhile, discussions on the Mining Joint Venture at the Molefe Mine (formerly Munkoyo) are progressing and have highlighted the potential of this exciting project."
The Jubliee chief, meanwhile, highlighted a large level of industry interest and said that 'it will take another few months' until the company knows which strategy and funding routes are preferred.
In London, Jubilee shares start Monday's session higher, rising to 3.54p, before easing off to change hands at 3.2p.