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Jubilee Metals Raises £0.12M, Issues 7.07M Shares | Rateweb
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Jubilee Metals Raises £0.12M, Issues 7.07M Shares

Jubilee Metals Group PLC has announced the exercise of warrants and options. The company received notification from a warrant holder to exercise 3,068,740 existing warrants. The exercise price is 4 pence per warrant share, generating a total cash value of £0.12 million.

Additionally, 4,000,000 new ordinary shares were issued following the exercise of options. These options were exercised at an average price of 5 pence per option share.

Financial Details

DescriptionQuantity (Shares)Price per Share (pence)Total Cash Value (£ million)
Warrants Exercised3,068,74040.12
Options Exercised4,000,00050.20

Impact on Share Capital

The new warrant and option shares represent 0.24% of the total issued capital of the company. Post-issuance, the total issued capital of Jubilee will be 2,990,562,357 ordinary shares. Jubilee does not hold any shares in treasury, meaning this figure can be used for interest calculation.

Admission and Trading

The warrant and option shares are expected to be admitted to trading on AIM and listed on the Altx of the JSE Limited. The expected admission date is on or about 7 June 2024. These shares will rank pari passu with the ordinary shares of the company in issue.

Operations and Growth

Jubilee’s modular processing facilities are close to these materials, producing high-grade concentrates. These are then sold or further refined to finished metal at the company’s downstream facilities.

The company’s production currently includes copper, chrome, and Platinum Group Metals (PGMs). Jubilee’s success stems from operational and technical excellence, a highly experienced management team, and a pioneering Technical Development Centre.

Operational Footprint

CountryKey Operations
South AfricaProcessing of chrome and PGMs
ZambiaProcessing of copper and historical waste

Conclusion

Jubilee Metals Group PLC continues to leverage its expertise in metals processing. The recent exercise of warrants and options highlights investor confidence and strengthens the company’s financial position. With strategic operations in Africa and a robust management team, Jubilee is poised for further growth and expansion in the metals processing sector.