Metals recovery business Jubilee Metals has closed a private placement, raising around £13m ($16.6m) to support the recent copper waste rock dump project in Zambia.
The company issued 236.3 million new shares in the placement, each priced at 5.5 pence. WH Ireland and Berenberg were joint brokers and joint bookrunners for the placement.
The announcement follows the recent partnership between Jubilee Metals and United Arab Emirates (UAE)-based International Resources Holding (IRH) for copper extraction, with a monthly production goal of 2,000 tonnes.
Jubilee Metals Group plc (LON:JLP) is a diversified metal recovery business with a world-class portfolio of projects in South Africa and Zambia. The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals, chrome, lead, zinc, vanadium, copper and cobalt.
