Jubilee Metals Group (JLP): Large Waste Project

This situation live

£74m · 2.2p · −26% since the first step

26 Aug 2026 · Preferred purchaser selected; due diligence under way · −11% until the next step The transaction will proceed through a two-stage due diligence process.

Disposal of a part (break-up)

Large Waste Project

Legal DD complete; 45-day technical DD begins

Next: Complete technical DD and definitive documents within 45 days

Every step · 6

21 Nov 2025 Resource review and design underway – Discussions with potential project partners are progressing with internal target date remaining the end of the current quarter ↗
19 Feb 2026 Resource review drafts issued; two partners shortlisted – The results from the resource review have confirmed the scale of the project and details of the results from the review will be provided to shareholders... ↗
31 Mar 2026 Stage payment made; partner talks ongoing – Settled the next stage payment towards the acquisition of the Large Waste Project of US$2.6 million leaving a balance of US$5.4 million (total acquisition... ↗
10 Aug 2026 Two binding offers received; sale to be agreed – Jubilee will provide further detail on the transaction once the preferred Purchaser has been selected and definitive transaction agreements are concluded... ↗
26 Aug 2026 Preferred purchaser selected; due diligence under way – The transaction will proceed through a two-stage due diligence process. ↗
8 Oct 2026 Legal DD complete; 45-day technical DD begins – Based on the terms of the binding heads of terms, a further 45-day period is offered to complete the further due diligence mainly focussing on the technical... ↗

What is happening

Jubilee Metals Group: Large Waste Project – Legal DD complete; 45-day technical DD begins. ['Legal DD complete; 45-day technical DD begins']

In short: Jubilee has been shortlisting partners for the Large Waste Project since late 2025. On 10 Aug 2026 it announced two binding offers; on 26 Aug 2026 it chose a preferred purchaser at US$35.0m. On 8 Oct 2026 it said legal due diligence is complete, with a US$2.25m deposit due within days and a 45-day technical DD and documentation period starting.
Announced: 21 Nov 2025 · Resource review and design underway
Latest: 8 Oct 2026 · Legal DD complete; 45-day technical DD begins
Payment: Settled over 3 years, first instalment due December 2026 if completed
Seller settlement: US$5.0m final payment in 150 489 090 new shares at 2.5p, 4.5% of enlarged capital; admission around 14 August 2026
Use of money: Accelerated investment in existing Zambian copper operations, including Molefe Mine
Price: approximately US$35 million total consideration; US$30.0m if settled within two years
Next milestone: 45-day period for technical due diligence and final documentation
Replaces: Previous 10Mt waste sale for US$6.75m; about 550 000t collected, about US$0.6m paid
Deposit: US$2.25 million expected within the next few days
Conditions: Final due diligence, definitive documentation and customary conditions precedent

Complete technical DD and definitive documents within 45 days.

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

From the company's own announcements. Not investment advice.

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