- Jubilee Metals Group has secured support from two major institutional investors, ahead of a shareholder webcast being held next week.

In a market update, the company said the investment was recognition of its copper and cobalt strategy which holds the potential for 'enhanced sustainable and quality earnings growth'.

The metals processing specialist announced it had placed new and existing shares worth nearly 5% of the enlarged company’s issued share capital to meet this new institutional demand. The shares were placed at a price of 13p per share.

Leon Coetzer, chief executive officer at Jubilee, said: 'This combined investment by two traditionally long term, supportive institutional shareholders is a milestone acknowledgement of the company's achievements.'

Mr Coetzer added that the investment is recognition of the successful implementation of the company’s strategy to date and its focus going forward.

On Monday (18 January), the board of Jubilee will be hosting a shareholder webinar where investors will be able to engage with the group’s management on the company’s performance over the past six months.

At 1:33pm: [LON:JLP] Jubilee Platinum PLC share price was 0p at 7.65p

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