Jubilee Platinum Plc

Published : June 07th, 2016

Jubilee processing operational update

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Keywords :   Chrome | Platinum |

Jubilee processing operational update

7 June 2016

Mine-to-Metals specialist Jubilee Platinum plc (AIM: JLP, AltX: JBL) is pleased to provide, on behalf of its subsidiary, Jubilee Tailings Treatment Company Pty Ltd ('JTTC'), an operations performance and financial update up to end May 2016; May being the first full month's operation since commissioning of its chrome recovery plant ('Chrome Plant') on its PGM-bearing tailings processing project on the Dilokong Chrome mine ('DCM Tailings' or 'Project').

DCM Project Highlights

  • Sustainable Chrome Plant feed rate capacity reaches 75 tonnes per hour (tph) exceeding design capacity by 50% (50tph)
  • 6 675 tonnes of chromite concentrate produced up to end of May 2016
  • Equivalent to ZAR 9.2 million (GBP 0.427 million) revenue generated from chromite concentrate sales alone to end of May 2016
  • Equates to operational earnings at project level of approximately ZAR 6.5 million (GBP 0.301 million)
  • Production target for June 2016 set at 6 500 tonnes of chromite concentrate
  • Processing of 3 party run-of-mine ore targeted to commence soon offering the potential to increase chromite concentrate production to more than 25 000 tonnes per month (tpm)
  • The enriched platinum containing material continues to be stockpiled with an estimated earnings potential of ZAR 130 million (GBP 6 million). Jubilee is in advanced discussions to conclude the dedicated processing route of the platinum material.

Leon Coetzer says;

'The DCM Tailings team and Chrome Plant continue to outperform the original design numbers as the Project starts to generate revenues and earnings from chrome concentrate sales. The Project continues to exceed the enrichment targets for platinum, increasing the value of this stream and drawing the interest of a number of established platinum producers looking to accelerate the production of a saleable platinum product. We are working to implement the platinum component of the Project and are reviewing the shortlisted platinum processing options with a view to implement the platinum component of the Project as soon as possible.

'We also continue to drive towards increasing the chrome concentrate production rate as we look to commence processing of platinum containing run of mine chrome reef from 3 party mines. The introduction of the 3 party chrome reef with the chrome tailings offers the potential to the Project to significantly increase the chrome production rate to well in excess of 25 000 tons per month of saleable chrome concentrate.

'This exponential growth potential of the Project with its associated earnings further ratifies Jubilee's decision to sell its interest in the ferro-alloy smelting operation offering limited growth and investing into the processing of platinum and chrome.

'The construction of Jubilee's second platinum and chrome tailings project targeting the processing of 55 000 tons per month of feed material remains on schedule with both the platinum and chrome plant targeting commissioning by the end 2016.

'We look forward to providing shareholders with continued updates on the implementation of Jubilee's platinum and chrome processing projects.'


Jubilee Platinum plc

Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Andrew Sarosi
Tel +44 (0)1752 221937

Nominated Adviser

SPARK Advisory Partners Limited
Sean Wyndham-Quin/Mark Brady
Tel: +44 (0)203 368 3555


Beaufort Securities Limited
Jon Belliss
Tel: +44 (0) 20 7382 8300

JSE Sponsor

Sasfin Capital, a division of Sasfin Bank Limited
Sharon Owens
Tel +27 (0)11 809 7500

Read the rest of the article at www.publicnow.com

Jubilee Platinum Plc

ISIN : GB0031852162
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Jubilee Platinum is a platinum exploration company based in United kingdom.

Its main asset in development is TJATE in South Africa.

Jubilee Platinum is listed in Germany and in United Kingdom. Its market capitalisation is GBX 18.8 billions as of today (US$ 22.5 billions, € 19.7 billions).

Its stock quote reached its highest recent level on April 07, 2006 at GBX 99.88, and its lowest recent point on November 24, 2017 at GBX 0.04.

Jubilee Platinum has 1 306 527 911 shares outstanding.

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6/30/2015Completion of tranche 2 of the acquisition of 100% of the be...
5/23/2006Tjate Project drill results
Corporate news of Jubilee Platinum Plc
8/19/2016Jubilee Live Interactive Webcast
7/11/2016Platinum Projects quarterly update
6/7/2016Jubilee processing operational update
5/20/2016Dealing in securities
5/12/2016Jubilee Processing operational update
4/29/2016Results of General Meeting
4/8/2016Notice of General Meeting
3/31/2016Unaudited interim results for the six months ended 31 Decemb...
3/22/2016Project Funding for the Execution of Surface Platinum Proces...
12/15/2015Jubilee executes final agreement to process the Hernic surfa...
10/9/2015Jubilee receives cash consideration for disposal of Middelbu...
9/23/2015Update on ASA Surface Platinum Chrome Tailings Project and E...
9/16/2015Jubilee satisfies all conditions for the Disposal of Middelb...
8/18/2015Exercise of Warrants
8/7/2015Result of General Meeting
7/21/2015Update on general meeting and invite to live webcast
7/16/2015Jubilee sells non-platinum assets / Notice of General Meetin...
2/13/2015Funding secured for conclusion of detail design and engineer...
2/7/2015Result of General Meeting
12/29/2014Result of AGM
12/12/2014Change of Adviser
12/10/2014Director dealing
12/5/2014LIVE Webcast: Update shareholders' queries on results and AG...
12/4/2014Notice of AGM and annual report
12/3/2014Issue of equity
12/3/2014Audited results for the year ended 30 June 2014
10/17/2014Third quarter 2014 operations and financial update
4/6/2006and Implats agree joint venture on Ambodifala project, Madag...
1/10/2006 Directorate Changes
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