ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

JLP Jubilee Metals Group Plc

5.60
0.15 (2.75%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Jubilee Metals Group Plc LSE:JLP London Ordinary Share GB0031852162 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.15 2.75% 5.60 5.50 5.60 5.80 5.55 5.55 6,210,693 16:35:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 141.93M 12.91M 0.0047 11.81 151.97M

Jubilee Metals Group PLC Update on Kabwe project (2247E)

07/02/2018 3:20pm

UK Regulatory


Jubilee Metals (LSE:JLP)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Jubilee Metals Charts.

TIDMJLP

RNS Number : 2247E

Jubilee Metals Group PLC

07 February 2018

Jubilee Metals Group PLC

Registration number (4459850)

AltX share code: JBL

AIM share code: JLP

ISIN: GB0031852162

("Jubilee" or "the Company")

Update on Kabwe project

Jubilee Metals Group PLC notes the announcement made today by BMR Group PLC ("BMR") reporting that BMR received, yesterday, a letter from the Mining Cadastre Department of Zambia dated 19 December 2017 terminating, with immediate effect, the aforementioned mining right in respect of BMR's Kabwe operation.

BMR also states that the letter dated 19 December 2017, and received yesterday, indicates that BMR has 30 days to exercise its right of appeal. BMR intends to exercise this right as soon as practicable.

Leon, Chief Executive Officer, says: "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 also use this opportunity to provide the Zambian Mining Cadastre Department with confirmation of Jubilee's commitment to BMR, for the immediate execution of the Kabwe project.

Jubilee will provide further clarity on the Kabwe project and the expected execution program following this discussion."

In the meantime, trading in BMR's shares have been suspended at BMR's request.

Alex Borrelli, Chairman of BMR, stated: "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."

Jubilee has invested in a joint venture with BMR for the development of the Kabwe project and has a 29.01% interest in the issued share capital of BMR.

Further updates will be provided as appropriate.

United Kingdom

7 February 2018

Contacts

Jubilee Metals Group PLC

Colin Bird/Leon Coetzer

Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913

Andrew Sarosi

Tel +44 (0) 1752 221937

Nominated Adviser

SPARK Advisory Partners Limited

Mark Brady/Andrew Emmott

Tel: +44 (0) 203 368 3555

Broker

Beaufort Securities Limited

Jon Belliss

Tel: +44 (0) 20 7382 8300

JSE Sponsor

Sasfin Capital, (a member of the Sasfin group)

Sharon Owens

Tel +27 (0) 11 809 7500

This information is provided by RNS

The company news service from the London Stock Exchange

END

UPDSSDFIWFASEFE

(END) Dow Jones Newswires

February 07, 2018 10:20 ET (15:20 GMT)

1 Year Jubilee Metals Chart

1 Year Jubilee Metals Chart

1 Month Jubilee Metals Chart

1 Month Jubilee Metals Chart

Your Recent History

Delayed Upgrade Clock