https://www.engineeringnews.co.za

Jubilee acquires 29% stake in BMR

15th January 2018

By: Creamer Media Reporter

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Alt-X- and Aim-listed Jubilee Metals Group has acquired a 29.01% interest in the enlarged issued share capital of BMR Group for £500 000 cash and the issue of 63-million new ordinary shares of Jubilee.

The acquisition increases Jubilee’s effective interest in the Zambian Kabwe project to 57.41%, subject to Jubilee’s election to execute the Kabwe project.

“The acquisition secures Jubilee the right to a significantly increased effective interest in the Kabwe project, which is dependent only on our decision to progress the Kabwe project, which remains subject to the completion of our due diligence,” said Jubilee CEO Leon Coetzer.

The decision on whether to proceed with the project, and the project design parameters, will be taken by February 28.

Meanwhile, the acquisition will also provide Jubilee the benefit of the in-country presence that BMR has established.

“This gives us the opportunity to fast-track our entrance into Zambia for other targeted projects,” said Coetzer.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 7 hours ago By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:1.449 1.501s - 156pq - 2rq
Subscribe Now