Jubilee Platinum Plc

Published : July 11th, 2016

Platinum Projects quarterly update

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Chrome | Evaluation | Platinum |

Platinum Projects quarterly update

11 July 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'), a performance, operational and financial update for the three-months' ended 30 June 2016 ('Q2'), of its chrome recovery section of the Dilokong Chrome mine tailings project ('DCM Tailings' or 'DCM Project') and a progress update on the Hernic PGM-bearing chrome tailings project ('Hernic Project').

Highlights

DCM Project

  • Chromite concentrate production reaches a total of 15 188 tons produced to end June 2016 (7 480 tons in June 2016)
  • Project revenue generated from chromite concentrate sales to end June 2016 of ZAR 19.1 million (GBP 1 million)
  • Project earnings of ZAR14.2 million (GBP 0.744 million) of which ZAR 8.7 million (GBP 0.456 million) attributable to Jubilee
  • PGM processing option with 3 party processer in final discussions offering significant project upside
  • Potential value of saleable platinum in inventory is approximately R 399.1 million (GBP 21 million) at current platinum prices

Hernic Project

  • Construction of the 55 000 tons per month platinum and chromite processing plant progressing to schedule
  • Project Capital expenditure to date of ZAR 88.5 million (GBP 4.6 million) equivalent of 45% of total estimated Project Capital
  • Commissioning of world's largest platinum recovery plant from chrome tailings target to commence in December 2016

Leon Coetzer, Chief Executive commented:

'The DCM Project has outperformed the original design numbers both in terms of revenue, earnings from chromite concentrate sales and better than designed operational performance. To date early project revenue has been generated from the sales of chromite concentrate. The enrichment of the platinum material which is produced by recovering chromite from the surface material and rejecting waste has exceeded our projections due to a better than expected chromite yield from the DCM Project, without compromising the PGM metal recovery to the platinum material.

The Company is considering toll processing as an alternative to building its own plant and are currently considering offers. If an acceptable offer is received there will be no need to build a plant and platinum revenues will be received much earlier than planned. In the meantime we continue to increase our revenues from chrome production and source third party feed input.

The Hernic project, which targets 55 000 tonnes per month of tailing material proceeds on budget and on time to be the World's largest platinum recovery plant from chrome tailings.'

DCM PROJECT PERFORMANCE FOR THE QUARTER ENDING JUNE 2016

Chromite concentrate tons produced Project revenue (ZAR) Project revenue (GBP) Project earnings* (ZAR) Project earnings (GBP) Jubilee attributable project earnings (ZAR) Jubilee attributable project earnings (GBP)
Q2 2016 15 188 19,136,986 1,001,936 14,202,563 743,590 8,709,783 456,010

Q2 2016 production includes the ramp up phase with June 2016 reaching a stable production of 7 480 tons. All chromite production to date is from the processing of platinum and chrome containing surface tailings alone. Project earnings is net of operational cost and cost of chromite concentrate sales.

The enriched platinum containing stream after chromite removal is stored at site for further processing to produce a platinum concentrate.

Jubilee is currently concluding its evaluation of either further processing the enriched platinum material in a 3 party owned platinum processing plant or completing the construction of dedicated platinum processing plant at DCM. If Jubilee concludes to process the platinum material in a 3 party owned plant all equipment already secured for the DCM platinum processing plant is transferable to the Hernic platinum processing plant.

Contacts

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

JSE Sponsor

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

Nominated Adviser

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

Broker

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

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

Jubilee Platinum Plc

DEVELOPMENT STAGE
CODE : JLP.L
ISIN : GB0031852162
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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 18.9 billions as of today (US$ 22.7 billions, € 19.9 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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Project news of Jubilee Platinum Plc
8/18/2016Platinum Projects update
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
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
LSE (JLP.L)BERLIN (JI5.BE)
14.50+2.84%0.151-3.21%
LSE
GBX 14.50
08/11 18:15 0.400
2.84%
Prev close Open
14.10 14.40
Low High
14.10 14.50
Year l/h YTD var.
13.00 -  17.60 -10.77%
52 week l/h 52 week var.
13.00 -  17.98 -7.64%
Volume 1 month var.
18,347,605 3.57%
24hGold TrendPower© : 15
Produces
Develops Platinum
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2022-28.75%
202159.61%22.0011.62
2020232.90%9.9010.17
201959.58%4.902.20
2018-36.84%3.972.02
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.12+2.30%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.47+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.29-8.10%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59-2.17%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.68+1.13%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 7.13+1.71%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.28+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.01-1.95%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 64.46+7.34%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :