JUBILEE METALS GROUP PLC - Molefe Mine Update

Jubilee Metals Group PLC provided a detailed investor update on the rapid development of its Zambia copper strategy, highlighting the Molefe Mine as a cornerstone of its transition into an integrated mine-to-metals business. The company reported significant progress in ramping up production, with Molefe delivering increasing volumes of high-grade copper ore to the Sable Refinery and targeting a substantial increase in mining throughput over the coming months. Management emphasized the strength of its three-pillar growth strategy, combining third-party ore processing, owned mining assets, and large-scale surface waste projects to drive long-term revenue growth and operational scalability. Key milestones include the expansion of the Molefe mining footprint, ongoing drilling programs aimed at delivering a JORC/SAMREC-compliant resource statement, development of on-site ore sorting and processing infrastructure, and the planned expansion of Sable’s refining capacity. The company highlighted the growing value of its copper resource base, with more than 2.4 million tonnes of lower-grade ore stockpiled for future processing, while maintaining a strong focus on cost efficiency, margins, and copper cathode production growth. Management also reiterated confidence in achieving higher copper output through operational synergies between Molefe, Roan Concentrator, and Sable Refinery, while advancing strategic partnerships and exploration across a significantly expanded land package. Looking ahead, investors can expect updates on resource estimates, production growth, processing expansion, and the development of Jubilee’s large waste project, all of which are expected to support long-term value creation, resource growth, and improved financial performance.