Leon Coetzer, chief executive of Jubilee Metals Group PLC (AIM:JLP, FRA:JI5, JSE:JBL, OTC:JUBPF) (LON:JLP) joins Proactive London to explain the rationale behind three acquisitions that will see the metals processing company increase its interests in its copper and cobalt tailings projects in Zambia.
The acquisitions are worth US$24.77mln (£17.83mln) in total and to satisfy the consideration, the AIM-listed company is raising £30mln through a placing of new shares at 16.03p each.
The acquisitions comprise Project Elephant (Kitwe Tailings Project), Project Roan (Ndola Tailings Project) and the Mufulira Project.