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Investing.com -- Jubilee Metals Group PLC (LON:JLP) on Monday revealed the planned retirement of its current chairperson, Ollie Oliveira and the appointment of Dr. Mathews Phosa as his successor.
Jubilee Metals’ shares moved up by 0.7% following the announcement of upcoming changes, which are effective 30 April 2025.
Oliveira, with over 40 years in corporate finance and strategy in the mining sector, has been Jubilee’s chairperson since June 2022. Phosa, who has been with the company’s board since 2010 and currently serves as vice-chairperson, will take over the role.
Alongside this transition, Jubilee has also confirmed Jonathan Morley-Kirk as the permanent Finance Director, bringing over 30 years of senior finance experience to the role.
Despite the positive stock movement, analysts at RBC have expressed some concerns over the change in leadership. "We view the retirement of Mr Ollie Oliveira as a negative to Jubilee’s investment case given the loss of expertise at a critical juncture for Jubilee as it focuses on ramping up and stabilising its Zambia Copper operations. Mathews Phosa has a tenure of ~15 years with the company which should help to ensure a smooth transition period and continuity of the strategy."
RBC rated JLP as Outperform with a price target of 7.60p per share.
The market’s reaction suggests investors may be weighing the potential risks and rewards of the upcoming changes.