Jubilee Metals : hails growing institutional presence on share register

Jupiter holds 3.65% of the shares in issue, taking the total shares held by significant institutional investors to 45%

Jubilee Metal Group PLC (LON:JLP) has hailed the growing numbers of institutions on its share register with Jupiter Asset Management the latest to declare a notifiable stake in the tailings specialist.

Jupiter holds 3.65% of the shares in issue, taking the total shares held by significant institutional investors to 45%.

Jubilee added that a holder has also agreed to exercise 4mln warrants at 3.4p share or value of £136,000.

Leon Coetzer, Jubilee's chief executive, said: ' The continued support we are experiencing from institutional investors is extremely encouraging and again highlights the successful implementation of our strategy to date and more importantly the opportunity for investors going forward.

'We have experienced a very positive start to 2021 operationally including the construction of a new 80 000 tonne per month chrome operation adjacent to Inyoni's PGM operation which is on track to commence with commissioning during Q1 2021.

'This expansion of our South African operations together with the targeted significant ramp-up of our copper operation in Zambia is expected to continue to grow Jubilee's record H2 2020 earnings.'

Jubilee's share price has almost trebled over the past twelve months with earnings from its chrome and platinum operations jumping by 123% to £28.4mln in the second half of 2020.

Shares rose 1.1% today to 11.35p valuing the group at around £250mln.