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Jubilee Metals and BMR extend long-stop date on Kabwe project after notice of cancellation

Jubilee Metals said it continues to support BMR in its appeal against the notice of cancellation for the mining right of their joint venture project in Zambia

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Jubilee said the extension will allow for the Kabwe project to remedy the cancellation

Jubilee Metals Group PLC (LON:JLP) and its joint venture partner for the Kabwe project, BMR Group (LON:BMR), have agreed to extend the fulfilment on all conditions under their agreement from the end of February to the end of March.

The decision to extend the long-stop date comes after BMR lost its mining right for the Kabwe project in Zambia.

Jubilee said the extension will allow for the Kabwe project to remedy the cancellation of the current small scale mining licence.

READ: Jubilee Metals says “actively supporting” BMR in its appeal against notice of cancellation in Zambia

The company added that it will continue to assist BMR in its appeal against the notice of cancellation

"As previously stated we are actively supporting BMR during this process,” said Jubilee chief executive Leon Coetzer.

“Our two teams continue to work unabated as we target to finalise shortly the design parameters for the processing plant.  

“I have been encouraged by my ongoing engagement with the Zambian Mining Ministry and I have been invited to follow-up discussions with the Zambian Mining Ministry as soon as the BMR appeal has been submitted."

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Price: 3.8 GBX

AIM:JLP
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Market Cap: £70.5 m
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