Market Reaction - Jubilee Metals

Jubilee Metals Group PLC

Publish Date: 28 March 2024

Time Period: Updates for April 2024 and beyond

- Announced strategic investment with Abu Dhabi's IRH for the "Waste Rock Project" and updates on copper and chrome operations.

- IRH to proceed with the JV for the Waste Rock Project, aiming for over 20,000 tonnes per annum of copper recovery.

- Roan copper facility upgrade on schedule, with commissioning expected in April 2024.

- Project Munkoyo's aeromagnetic survey confirms copper mineralisation; initial ore delivery expected in September 2024.

- Extended chrome tolling agreements to February 2027 and progressing with construction of a second chrome processing module.

- CEO Leon Coetzer highlighted the expansion in copper production and the growth of chrome business.

While Jubilee Metals' share price increased by 1.84% following the announcement, it seems the market did not significantly react to the news. This was more of an operational update rather than a report on likely profitability.

Jubilee Metals is known for providing updates on progress, but these updates do not necessarily translate into substantial improvements in the bottom line. It appears that significant enhancements in their fundamentals may only occur with higher prices for their metals.