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Strategic Investment to Support Copper Growth Strategy
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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Strategic Investment to Support Copper Growth Strategy
Jubilee, the integrated copper producer and resource developer in Zambia, announces that it has
secured a US$1.5 million unsecured convertible loan note investment specifically designated for the
accelerated development of the greater Molefe region. The investor holds a successful track record in
the development of various copper projects and formed part of the team behind the development of
Mantos Copper and its subsequent merger with Capstone Copper (Investor).
This initial investment reflects the Investor's keen interest in supporting Jubilee's copper exploration
and mining strategy in Zambia, including the development of the greater Molefe region, beyond the
current mining area.
The Investor recognises the potential value offered by the Company's exploration and mining strategy
that seeks to significantly expand its near surface Molefe mining operation while targeting similar near
surface copper deposits in the greater Molefe region. In this regard, discussions continue for a further
US$10 million staggered investment. This offers the unique opportunity to commence copper
production through the nearby Sable refinery while simultaneously concluding a detailed resource
drilling program.
Leon Coetzer, CEO of Jubilee, commented:
"We are pleased to secure this initial investment, which reflects growing confidence in our copper
strategy and the broader opportunity within our Zambian portfolio.
The facility provides near-term funding flexibility to aggressively pursue additional exploration and
mining opportunities within the greater Molefe region, while we advance discussions around a
potential longer-term strategic partnership aimed at supporting resource expansion, processing
capacity growth and increased copper production across the broader Zambia platform.
Importantly, our approach combines ongoing copper production from our processing operations with
the concurrent development of a scalable resource base at the Molefe Mine, reflecting Jubilee's
differentiated model of building resources alongside production.
This balanced approach underpins both near-term performance and long-term value creation as the
scale of the resource is defined progressively."
Convertible Loan
Jubilee has secured a US$1.5 million unsecured convertible loan note investment (CLN) with the
Investor. The Company requires shareholder approval at an extraordinary general meeting (EGM) to
allot and issue shares or grant rights to subscribe for or convert any securities into shares. The Investor
has agreed an initial interest rate on the convertible loan that is below rates typically offered by
banking institutions on similar funding structures, reflecting the Investor's support for the Company's
copper growth strategy.
In terms of the CLN, the Company has sixty days from the date of this announcement to obtain
shareholder approval. The Investor has agreed to convert the loan into shares immediately following
shareholder approval. The CLN will be converted at a price per share being the 20-day volume
weighted average price on the London Stock Exchange prior to the drawdown date of the CLN. Should
approval not be obtained, the interest rate on the convertible loan will be increased to align with
interest rates on typical medium term unsecured loan funding and the loan will be repayable within
twelve months after the drawdown date.
Strategic Context and Potential Expansion
The Investor has expressed a broader interest in supporting Jubilee's long-term copper growth
strategy, including the expansion of the Company's resource base within the greater Molefe licence
area. The proposed investment structure is intended to ensure that capital is deployed directly into
project development, aligning the Investor's participation with the advancement of Jubilee's
underlying assets and the potential to build a longer-term strategic position in the Company.
Subject to ongoing discussions, due diligence and agreement between the parties, the Investor has
indicated potential funding of up to US$10 million over time to support Jubilee in the acquisition of
additional licence areas, exploration activities and the advancement of the greater Molefe licence
area.
There can be no certainty that any further investment will be completed, and further updates will be
provided as appropriate.
Potential Collaboration Opportunities
The Company is also in discussions with the Investor regarding potential collaboration through its
processing expertise across a broader scope of initiatives. These opportunities remain subject to
further evaluation, negotiation and formal agreement.
A further announcement containing details of the proposed EGM and associated resolutions will be
released in due course.
28 May 2026
For further information 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 - Zeus Capital
Harry Ansell/Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618
Joint Broker - Shard Capital Partners LLP
Erik Woolgar/Gareth Burchell
Tel +44 (0) 207 1869900
JSE Sponsor - Questco Corporate Advisory Proprietary Limited
Alison McLaren
Tel: +27 63 482 3802
About Jubilee Metals Group
Jubilee Metals, listed on AIM and the Altx of the JSE, is a copper producer focused on building a world-
class integrated copper business in Zambia. The Company aims to reach 25 000 tonnes per annum of
copper production by integrating exploration, mining, concentrating and refining through its three-
pillar strategy, combining the Roan concentrator, the Sable refinery and regional mining assets and
the Large Waste Rock Project. Led by an experienced team, Jubilee applies innovative technologies to
transform previously underutilised materials into value while supporting circular resource use and
strong environmental stewardship.
For further information, please visit www.jubileemetalsgroup.com and follow Jubilee on X at
@Jubilee_Metals
Date: 28-05-2026 03:10:00
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