15th Jan 2021 16:25
Jubilee Metals Group PLC - London-based metals processing company with operations in South Africa and Zambia - Announces the placing of 99.9 million shares at a price of 13 pence per share, representing 5.0% of its issued share capital "to meet institutional demand".
Says it has secured further support from two unnamed "blue chip" institutional investors. Says the investment has been made in recognition of its copper and cobalt strategy in Zambia.
On Thursday, the company said its push into copper is gaining momentum, with the start of the construction of a new copper concentrator. The copper strategy aims to achieve 25,000 tonnes of copper units per annum.
Its Sable Refinery in Zambia achieved early earnings from its copper and cobalt production of GBP1.8 million.
On Friday, the company additionally announced
Current stock price: ZAR2.76 in Johannesburg; 13.00 pence in London
Year-to-date change: up 4.2% in Johannesburg; up 2.0%
By Greg Roxburgh; [email protected]
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