Cyprus
Jubilee, the AIM and Altx traded metals processing company refers its shareholders to the announcement released today by Caerus Mineral Resources ( Caerus ) (LON: CMRS), an exploration and resource development company focused on developing mineral resources in
Cyprus with a focus on copper and gold. Jubilee has entered into an agreement with Caerus ( Exclusivity Agreement ) granting Jubilee a six-month exclusive period during which Jubilee will assess the technical merits, development and economic prospects of all of Caerus surface-based mining waste and tailings assets in
Cyprus.
The ultimate objective of the Exclusivity Agreement is to identify and define potential projects within the Caerus portfolio that can be scaled-up and prioritised into one or more joint venture arrangements with Jubilee, targeting profitable production using modern designs and technologies guided and financed by Jubilee. Jubilee would become operator of any assets which may be dev
As reported in the interim accounts, on
3 September 2020, the company announced that it had signed a binding Heads of Agreement (the Agreement ) with Mayflower Capital Investments Pty Limited ( Mayflower ) to acquire certain contractual gold production and exploration rights held by Mayflower in
Republic of Kenya and in Congo Brazzaville. These rights are held by Mayflower through a special purpose vehicle, Mayflower Gold Limited which is incorporated in the
United Kingdom.
Under the Agreement, the Company will acquire 100% of the share capital of Mayflower Gold and the options it holds to acquire: (a) 100% of the share capital of Kilimapesa Gold Pty Limited, which holds a 100% interest in the
Chief Executive s Report
As reported in the interim accounts, on 3 September 2020, the company announced that it had signed a binding Heads of Agreement (the Agreement ) with Mayflower Capital Investments Pty Limited ( Mayflower ) to acquire certain contractual gold production and exploration rights held by Mayflower in Republic of Kenya and in Congo Brazzaville. These rights are held by Mayflower through a special purpose vehicle, Mayflower Gold Limited which is incorporated in the United Kingdom.
Under the Agreement, the Company will acquire 100% of the share capital of Mayflower Gold and the options it holds to acquire: (a) 100% of the share capital of Kilimapesa Gold Pty Limited, which holds a 100% interest in
Zambian Operations Update
Sable Refinery
Jubilee, the AIM and Altx traded metals processing company is pleased to announce an update on progress at its copper operations in
Zambia, specifically the first copper concentrate for refining at Jubilee s
Sable Refinery from Project Roan which has been delivered on schedule.
Sable Refinery
· Project Roan completes Phase 1 of 3 Phases to allow early production of intermediate copper concentrate while construction of Phases 2 and 3 remain on target
·
Sable Refinery is fully operational and ready to refine product received from Project Roan - targeting an additional 240 tonnes of copper units and stepping up to 400 tonnes of copper units per month at completion of Phase 2