Jubilee Metals Group PLC surged 6.0% to 2.65p on Wednesday after the company said it had selected a preferred buyer for its Large Waste Project in a deal valued at $35 million.
The transaction will be paid in instalments over up to three years, following a two-stage due diligence process. The agreement replaces an earlier sale of 10 million tonnes of waste material from the same project, which had been valued at $6.75 million.
Nine-month saleable copper production climbed 28.7% year-over-year to 2,177 tonnes, with output at the Roan concentrator more than doubling. The Molefe Mine expansion is progressing ahead of further guidance, the company said.
Analyst coverage remains sparse, with a single broker maintaining a buy rating and a 12-month price target of 6.00p, implying substantial upside from current levels.
Jubilee’s operations are concentrated in Zambia, where it runs an integrated copper operation. Major U.S. equity benchmarks traded in a tight range during the session, providing no material directional impetus to the move.
