Jubilee Metals Group PLC surged 6.0% to 2.65 pence in London trading on Monday, after the company announced a $35 million agreement to sell its Large Waste Project through a two-stage due diligence process.
The transaction replaces a previously disclosed sale of 10 million tonnes of waste material valued at $6.75 million, with the balance of the deal to be paid in instalments over up to three years. Shares touched an intraday high of 2.80 pence, extending gains from a prior close of 2.60 pence on August 25, which represented a 6.12% advance.
The London-based miner also reported a 28.7% increase in nine-month saleable copper production to 2,177 tonnes, driven by output at the Roan concentrator more than doubling. The company said the Molefe Mine expansion remains on track, aligning with its strategy to prioritise integrated copper operations in Zambia.
Analyst coverage remains limited, with the sole covering analyst maintaining a buy recommendation and a 12-month price target of 6.00 pence. Major U.S. equity benchmarks traded within a narrow range during the session, providing a neutral backdrop for the stock’s movement.
Jubilee Metals said the $35 million deal reflects its focus on projects capable of delivering stronger returns within its existing operational footprint.
