(via NewsDirect)
Jubilee this week announced a deal with the
Construction of processing units is planned to begin in the first quarter of 2024 and Jubilee said it has the capability to commission within 12 months. The AIM-listed company has also announced a £10mln placing specifically to fund the work. Coetzer emphasises the project's scale, highlighting the opportunity to surpass the company's earlier copper production targets of 25,000 tonnes.
Additionally, the successful targeted capital raise, though dilutive, secures Jubilee's fully funded position for accelerated project execution. Coetzer also highlights the significance of this move, reducing the capital burden on Jubilee and positioning the company for a capital-light future with self-funding capabilities.
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