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Zambia Progress Update
Jubilee Metals Group PLC
Registration number: 4459850
AIM share code: JLP
Altx share code: JBL
ISIN: GB0031852162
('Jubilee' or 'the Company' or 'the Group')
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Zambia Progress Update
Jubilee, a diversified metals producer with operations in South Africa and Zambia, announces it is at the
advanced stages on concluding the trials of the processing of various high grade copper ores, as
announced on 6 February 2025, at its Roan Concentrator (Roan). The results from these trials will be used
to select material for a targeted long-term supply agreement. The finalisation of the trials on the various
types of high-grade materials will be completed over the coming two weeks which is critical to the
selection of the optimal mix of high-grade copper material. To date, the initial results have confirmed the
potential for Roan to maintain a significant increase in copper production rate on the high-grade copper
material which supports the decision to migrate Roan onto this high-grade material from initially
dedicating the capacity to the processing of copper tailings.
The various mineralogical compositions of the different materials required circuit adjustments to Roan to
optimally process each material. The final results from the trials have consequently been slightly delayed.
There remain two further material compositions that will be trialled over the coming two weeks to
complete the selection of the source material for a targeted long-term supply agreement.
The ramp-up of the Munkoyo Open-Pit mine operations remains on target to achieve 8 500tpm of high-
grade ROM exceeding 2% copper (equating to 170tpm) with a further 75 000tpm of lower grade ROM
stockpiled at the operations. In addition, the recently announced trading of 10Mt from the estimated
260Mt of material in Jubilee's Large Waste Project has commenced with first payments received.
Statement from Leon Coetzer, Jubilee CEO:
"To date, these trials have vindicated our decision to prioritise the processing of the high-grade copper
material. Over the past six weeks, four material types of varying grades and composition of copper within
the overall 6Mt of high-grade, previously mined material have been processed at Roan. Each material type
has shown a unique property that requires a dedicated processing configuration at Roan with varying
metallurgical performance.
The trials have been delayed slightly by the in-circuit adjustments to Roan, required to optimally process
the various compositions of materials. The early results have already confirmed the potential for a
significant and sustained improvement in copper production from Roan, while the ramp up at the
Company's Munkoyo mining operations remains on track to reach the 8 500 tpm of high-grade ROM."
30 April 2025
For further information visit www.jubileemetalsgroup.com, follow Jubilee on X (@Jubilee_Metals) or
contact:
Jubilee Metals Group PLC
Leon Coetzer (CEO)/Jonathan Morley-Kirk (FD)
Tel: +27 (0) 11 465 1913 / Tel: +44 (0) 7797 775546
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555
PR & IR Adviser - Tavistock
Jos Simson/Gareth Tredway
Tel: +44 (0) 207 920 3150
Joint Broker - RBC Capital Markets
Farid Dadashev/Jamil Miah
Tel +44 (0) 20 7653 4000
Joint Broker - Zeus Capital
Harry Ansell/Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618
JSE Sponsor - Questco Corporate Advisory Proprietary Limited
Alison McLaren
Tel: +27 63 482 3802
Date: 30-04-2025 08:40:00
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