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Additional power supply secured for Roan to re-start

Published: 2025-01-21 10:00:38 ET

Jubilee Metals Group Plc
Registration number (4459850)
AIM share code: JLP
Altx share code: JBL
ISIN: GB0031852162
(‘Jubilee’ or ‘Company’ or ‘Group’)


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                     Additional power supply secured for Roan to re-start


Jubilee, a diversified metals producer with operations in South Africa and Zambia, is pleased to
announce that regulatory approval has been granted for its new power supply agreement in
Zambia, with power delivery commencing on 20 January 2025. This important milestone enables
the Company to restart the Roan concentrator and ensures a stable power supply going forward.

The additional power supply agreement, executed with a new broad based power provider,
secures access to a distributed power base from multiple sources of generation, minimising the
reliance on a single supply source and mitigates risks associated with localised power network
distribution limitations. The power supply has been delivered at a cost comparable to the
Company’s existing power agreement, offering both economic and operational stability.

Highlights:

▪   Power delivery commenced on 20 January 2025 following approval by the regulator under
    the new power agreement.

▪   The additional power supply agreement is now fully operational and capable of meeting the
    complete power demands of both the Roan concentrator and the Sable processing plant, if
    required.

▪   The power solution leverages a diversified network of power generation sources to ensure
    reliability and continuity of operations.

▪   The company is actively preparing for the restart of the Roan concentrator, with copper
    production rates anticipated to return to target levels as operations ramp up.

Statement from Leon Coetzer, Jubilee CEO:

“The Jubilee team demonstrated great resilience in overcoming the recent power challenges at
its Zambian operations. The commencement of the additional power supply successfully
addresses current power supply limitations that affected Roan's ability to operate historically. We
now turn our attention to preparing the plant for re-start and remain focused on delivering reliable
production and operational resilience.”
21 January 2025



For further information visit www.jubileemetalsgroup.com, follow Jubilee on Twitter
(@Jubilee_Metals) or contact:

Jubilee Metals Group PLC
Leon Coetzer (CEO) / Jonathan Morley-Kirk (FD)
Tel: +27 (0) 11 465 1913 / Tel: +44 (0) 7797 775546
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555
PR & IR Adviser - Tavistock
Jos Simson/ Gareth Tredway
Tel: +44 (0) 207 920 3150
Joint Broker – RBC Capital Markets
Farid Dadashev/Jamil Miah
Tel +44 (0) 20 7653 4000
Joint Broker - Zeus Capital
Harry Ansell/Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618
JSE Sponsor - Questco Corporate Advisory Proprietary Limited
Alison McLaren
Tel: +27 63 482 3802


About Jubilee Metals Group Plc

Jubilee is a low-cost, diversified producer, specialising in the recovery and processing of metals
from previously overlooked resources, such as unprocessed historical waste rock, run-of-mine
materials and tailings in Zambia and South Africa. The Company's low-capex, modular
processing facilities are deployed close to these various types of material, producing high grade
concentrates for sale or further refining to finished metal at the Company's downstream facilities.
Production currently consists of copper, chrome, and platinum group metals (PGMs). The
modular processing facilities offer a platform for growth and the rapid expansion of Jubilee's
operational footprint in Zambia and South Africa. Jubilee's success is derived from operational
and technical excellence, an experienced management team and a pioneering Technical
Development Centre.

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team@eninvs.com

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Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.