JUBILEE METALS GROUP PLC - Further acquisition of PGM material in the Eastern Limb South Africa

Further acquisition of PGM material in the Eastern Limb South Africa

Jubilee Metals Group PLC
Registration number (4459850)
Altx share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or "the Company" or "the Group")


Further Acquisition of PGM material in the Eastern Limb, South Africa

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.


Jubilee, a leader in metals processing with operations in Africa (AIM: JLP/Altx: JBL), is pleased
to announce a further substantial acquisition of the rights to 944 000 tonnes of PGM
containing tailings in the Eastern Limb of the PGM-rich Bushveld Complex. This comes in quick
succession to the PGM Supply Agreements entered in to and the acquisition of 255 000 tonnes
of PGM containing material in the Western Limb, as announced on 3 June 2021.


Highlights


    •   Acquired the rights to 944 000 tonnes of PGM containing surface tailings (before
        accounting for any moisture) in the Eastern Limb
    •   This is in addition to the recent PGM Supply Agreements in the Eastern Limb and the
        acquisition of 255 000 tonnes of PGM containing material
    •   Demonstrates Jubilee as the go-to company with the knowledge and IP to maximise
        value of these surface tailings
    •   Targeted to commence with the upliftment and transport of the PGM material during
        June 2021 at a minimum rate of 30 000 tonnes per month, the equivalent of 1 600
        PGM ounces per month
    •   Acquisition fully commits the expanded Inyoni PGM capacity prior to commissioning
        commencing in July 2021 without committing existing historical surface tailings
PGM - 6 Element Platinum Group Metals including platinum, palladium, rhodium, ruthenium, osmium and gold



Leon Coetzer, CEO of Jubilee, commented: “I am thrilled we have been able to secure a further
significant amount of PGM containing surface material in the Eastern Limb, in such quick
succession to the PGM Supply Agreements we announced on 3 June 2021. The Eastern Limb
has been a key focus of Jubilee to expand our PGM reach and operational capacity and this
material further solidifies our presence there.


“Our reputation as the go-to partner in an ever expanding operational footprint is just another
example of our ability to outpace competitors and drive growth in the region and I am highly
confident that we will secure further long term feed supplies and operational presence driving
our sustained earnings in South Africa.”


Further Details


Jubilee has acquired the rights to approximately 944 000 tonnes (before accounting for any
moisture) of surface tailings containing PGMs in the Eastern Limb. The consideration is linked
to the prevailing PGM basket price and is payable monthly in advance of uplifting the material
and transporting it to Jubilee’s Inyoni PGM plant. Jubilee has targeted to commence the
upliftment of the PGM material during June 2021 targeting a minimum rate of 30 000 tonnes
per month, the equivalent of 1600 PGM ounces per month. Until recently, Jubilee’s current
PGM operational footprint has been limited to the Western Limb, a single area of the two
main PGM areas in South Africa.


The material will be initially processed at Jubilee’s expanded Inyoni PGM facility and this
transaction, together with the recently announced PGM Supply Agreements, ensures that the
expanded Inyoni PGM capacity is fully committed with current arising tailings alone which
excludes the existing historical tails already secured by Jubilee which offers the opportunity
to further expand the PGM processing capacity. As previously announced, consideration is
being given to implementing a dedicated processing facility in the Eastern Limb to further
expand the Company’s processing footprint but in any event, this acquisition of material
provides the option to Jubilee to secure additional processing capacity through acquisition,
partnership or construction of a new facility to further expand its processing footprint.
United Kingdom

4 June 2021


For further information visit www.jubileemetalsgroup.com or contact:

Jubilee Metals Group PLC
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913

Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555

Broker - Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel +44 (0) 20 7186 9900

Joint Broker – WHIreland
Harry Ansell/Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618

JSE Sponsor - Sasfin Capital (a member of the Sasfin group)
Sharon Owens
Tel +27 (0) 11 809 7500

PR & IR Adviser - St Brides Partners Limited
Catherine Leftley/Charlotte Hollinshead
Tel +44 (0) 20 7236 1177

Date: 04-06-2021 08:55:00
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