Shares of Japaul Gold & Ventures Plc have surged 50% month-to-date, reaching N3.66 per share as of the opening of trade on 19 February 2026 on the Nigerian Exchange.
At the opening bell, the stock was already up 9.91%, extending its year-to-date gain to 58.44% on strong buying interest.
The rally follows news that the company has commenced test runs of its pilot gold processing plant in Libeli, Niger State, ahead of full operations slated for May 2026.
As of market open, February trading volume exceeded 400 million shares, surpassing January’s total of 302 million, indicating heightened investor participation likely driven by the development.
What the company is saying
According to a disclosure filed on the Nigerian Exchange, Japaul Gold & Ventures Plc said the new plant will significantly expand output, targeting monthly processing volumes of up to 210,000 grams.
- For gold, commercial production is expected to range between 18,000 and 21,000 grams per month upon full installation at the Libeli site.
- The company also highlighted its portfolio of four gold mining leases across Taraba, Niger, and Osun states, noting that the newly commissioned Niger plant is designed to process both hard-rock and alluvial deposits.
Japaul added that the milestone marks its official transition into active mining and gold processing in Niger State, following four years of intensive geological exploration, acquisition of statutory mining titles, and regulatory approvals.
The development comes amid rising interest in gold processing in Nigeria, especially after the Federal Government announced operations at a high-purity refining plant in Lagos in January 2026, with Japaul’s shares already nearing January 2024’s 54.12% return.
Get up to speed
Beyond company-specific developments, broader trends in the global gold market may also be reinforcing investor optimism around Japaul Gold & Ventures Plc.
- Gold has recorded a sharp appreciation from 2025 into early 2026, breaking above $5,000 per ounce on 26 January 2026 in the global commodities market.
- This marks a substantial rise from roughly $2,700 per ounce during a similar period in 2025, reflecting the strong value appreciation of the yellow metal.
In 2025 alone, gold returned over 60% as the U.S. dollar weakened by more than 9% following interest rate cuts and heightened geopolitical tensions, prompting investors to seek safe-haven metal assets.
So far in 2026, gold remains up more than 15% year-to-date, hovering around $4,990 per ounce after easing slightly from levels above $5,000 in late January.
The sustained strength in the commodity could be partly shaping market sentiment toward Japaul’s equity, especially as the company ramps up its gold processing capacity.
What you should know
Japaul Gold & Ventures Plc reported revenue of N4.4 billion for the 2025 financial year, up from N4.1 billion recorded in the previous year.
- Of the total revenue, offshore activities contributed the largest share at N4.09 billion, while dredging generated N271.8 million and quarrying accounted for N89.5 million.
- Pre-tax profit decreased to N1.1 billion from N1.8 billion in 2024, largely due to higher administrative expenses, although the company maintained a stronger balance sheet position.
On the balance sheet, total assets rose marginally to N33.5 billion from N33.4 billion in the prior year, while total equity remained steady at N18.4 billion.
