Jubilee shares rise 6% after selecting preferred purchaser for $35 million waste project

Jubilee shares rise 6% after selecting preferred purchaser for $35 million waste project

Wed, August 26, 2026 at 11:45 AM GMT+3 1 min read

Shares in Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF), the integrated copper producer and resource developer in Zambia, rose 6% to 2.65 pence on Wednesday.

The company has selected a preferred purchaser for its Large Waste Project, which has offered total acquisition consideration of $35 million.

The sale follows the receipt of two binding offers for the project, announced on 10 August.

The transaction will proceed through a two-stage due diligence process, with the first stage expected to conclude within approximately ten days.

Subject to satisfactory due diligence and definitive transaction documentation, the balance of the $35 million consideration will be settled over an agreed three-year instalment period.

The balance of the consideration will be settled over an agreed three-year instalment period once due diligence and documentation are finalised.

The purchaser can accelerate settlement to within two years in return for reducing the total consideration payable to $30 million.

The transaction incorporates and replaces a previously announced sale of 10 million tonnes of waste material for $6.75 million, with about 550,000 tonnes collected and approximately $0.6 million paid to Jubilee.

Jubilee said the disposal supports its strategy of prioritising capital towards its existing mining, processing and refining operations in Zambia.