Any holders out there - there's some buying going on.....

Exploration stocks are having a rough time of it BUT, I have been keeping an eye on JLP since the sahres mag article. It has so many prospects, the recent drop provides a buying opportunity for those interested in this type of company.

I've actually just taken the plunge as price bounced back from 37p low for the day. Here's hoping........ :-)

Just got in today at 36.97p.

Welcome on board the Jubilee train andysmith!

Buy Jubilee Platinum at 36.75p
Says A1m-Analyst.com

Jubilee Platinum's Tjate project in South Africa is situated close to properties owned by Anglo Platinum and Implats. Not too far away from Jubilee's Londokomana property in Madagascar, Phelps Dodge and Dynatech have commenced producing nickel-chrome at a new $1 billion million mine. As if that wasn't enough Rio Tinto owns a significant mineral sands site on the southern tip of Londokomana. Everybody needs good neighbours, and Jubilee has real quality ones, which could make for a very promising future for investors.

The Business
Jubilee Platinum listed on AIM in July 2002, raising 2.2 million pounds at 16p. Given that sentiment was against IPO's full stop in the summer of 2002, it is testament to the strength of the company that investors were willing to back it. Amongst those investors is Golden Prospect (GOL: AIM), which continues to hold 16.62% of the equity in Jubilee. The company was initially formed to exploit Platinum Group Metal (PGM) plays in the Eastern Bushveld of South Africa, Northern Canada, and Madagascar. Since listing the company has exercised an option to farm into acreage in Ethiopia and Sierra Leone, but the projects in the former country did not prove worth pursuing and have subsequently lapsed. Canada has also not proved as potentially lucrative as was previously hoped, and the company has opted to pursue its more exciting African interests whilst retaining a 15% carry with no financial commitments on the Havoc Lake properties. Noranda, which is funding all commitments on the Havoc Lake properties, can buy out Jubilee's stake for 1.5 million Canadian dollars.

The real excitement with Jubilee Platinum is its projects in Madagascar and South Africa. On 2nd December 2004 Jubilee acquired a 25% interest in the three Tjate properties in South Africa owned by the same namesake with a 10% earn in fee. The company paid 3.1 million pounds for the 25% interest, and 1.2 million pounds for the earn in of a further 10%. Jubilee's CEO, Colin Bird, has also become the CEO of Tjate and its project manager.

The three farms owned by Tjate are Quartzhill 543KS, Fernkloof 539KS and Dsjate 249KT, which lie next to Anglo American's Twickenham mine and Impala's Marula mine. On 10th March the company announced impressive results from the first diamond drilling at the 2,162 hectare Dsjate 249KT property. The results showed a weighted average grade of 7.78g/t of 3PGE and gold over a 1 meter width, with a grade of 0.33% nickel and 0.19% copper.

Further results from Tjate were announced on 27th April, which backed up the initial results from March. The additional assay results from the initial mother hole, which was drilled to a depth of 1247.59 meters, have indicated a weighted average grade of 6.29 g/t of 3PGE and gold. The drilling at Dsjate 249KT has intersected both the Merensky and UG2 Chromite Reefs, which the directors believe underlies the entire Tjate property.

Clearly there is a strong chance that the Tjate property will eventually be bought out by either Anglo American or Impala, both of whom, as mentioned, have processing plants nearby. On the other hand Jubilee might seek a production sharing agreement to bring the property into production quickly, whilst minimizing its own capital expenditure. Investors are now eagerly awaiting assay results from the two deflections onto the Merensky Reef and the one deflection onto the UG2 Reef.

In Madagascar Jubilee has interests through a joint venture company, (Mineral Resources of Madagascar) in which it holds 85% of the equity. The company has six major concessions in Madagascar all of which are at different stages of development. Three properties have enjoyed virtually no work, namely the three smallest properties, Mandolatra (25Km), Tsarantana (50Km) and Andonabe (37.5Km).

The first of the three properties, and seemingly the most exciting is at the Londokomanana district, covering 450Km. Londokomanana was originally explored by The French Geological organization, BRGM, in the early 1970s, and has become the property on which Jubilee is most advanced. Geophysics suggest that the area is rich in PGM's, Copper, and Nickel. At Bebasy two 0.5 meter-wide quartz veins have produced grades of 42 g/t to 108 g/t of gold, which is phenomenally high.

At Pachoud/ Lanjanina geochemical soil samples have identified significant copper grades of up to 2800 parts per million ("ppm"), and 550 ppm of nickel. From Pachoud to Belanitra there is the possibility of a continuous 3 km copper-nickel geochemical anomaly. Given the results achieved in the Londokomanana district to date there is a strong likelihood of surface mining being undertaken in the future.

Finally in Sierra Leone the company has a joint venture with Golden Prospect on the 105.3Km York project located on the Freetown Peninsula. Previous and current work has identified a 2 meter wide, 8Km long mineralized reef.

Two sampling programmes have produced 0.5 g/t - 0.8 g/t of platinum. In 2005 trenching and drilling will be carried out, although the property does not initially appear anywhere near as exciting as the Madagascan and South African properties. Nonetheless it forms what is a highly prospective portfolio of projects.

The Directors

Jubilee has a very strong management team led by chief executive, Colin Bird, who has over thirty years of experience in the industry, as well as eight years in corporate finance. Colin Bird maintains a strong interest in the company's equity, holding 6,585,048 shares, 10.18%. The financial director is Raju Samtani has brings with him three years of experience at WTS Group, where he was the group financial controller. Andrew Sarosi is the technical manager, having thirty years of experience in metallurgical production/management, project evaluation and having been a consultant in base and precious metal processing and gold refining. Malcolm Burne, chairman of Golden Prospect, holds a non-executive position on the board, as do David Parker and Chris Molefe.

Investment Conclusion

At 36.75p Jubilee Platinum is capitalized at 26 million pounds. At the 31st December 2004 the company had cash of 2.861 million pounds, whilst recording a loss for the six months of 96,000 pounds. On 5th April the company announced that it had placed 4,848,485 shares at 33p with institutional investors raising a net 1.51 million pounds. The funds will be used to progress more aggressively the Tjate project in South Africa, and at Madagascar, as well as for general working capital purposes. The Tjate project is believed to hold in the region of 70 million ounces of the three main PGE's - platinum, palladium, and rhodium - which will sell for in the region of 850 dollars an ounce. It is possible that Tjate might be confirmed as a world class mine before the year is out. There are several opportunities that could emerge as to how Jubilee will seek to create shareholder value from all of its properties. The company is well funded, has a strong management team, and given the market capitalization, the shares are attractively priced for those investors who enjoy a more speculative investment in mining exploration. The twelve-month price is 100p. Speculative Buy.

Thanks grevis, excellent post.

You're welcome!

Yep, very encouraging post.

From UK-Analyst.com: May 19th 2005
Shares in Jubilee Platinum finished the session unchanged at 34p after the company reported positive full results from its first diamond drill hole DT1 on Tjate's 2,162 hectare Dsjate farm 249 KT in the Bushveld Complex of South Africa. The company said that the results were very pleasing in terms of both grade and width, which had more than matched its expectations. It said that drilling of its second hole DT2 was well underway and total hole results will be reported as soon as they become available. Top share tipping site t1ps.com, which first recommended the shares at 17.75p, rated the shares a "hold."

Jubilee Platinum says deflection results from Dsjate Farm 'very pleasing'
AFX
19/05/05 08:48
LONDON (AFX) - Jubilee Platinum PLC and its partners in Tjate Platinum Corporation (Pty) Ltd said the full results from the first diamond drill hole DT1 on Tjate's 2,162 hectare Dsjate farm 249 KT in the Bushveld Complex of South Africa are 'very pleasing'.

Chief executive Colin Bird said the results more than matched expectations.

He said there appears to be some degree of variability in grade and width particularly in the Merensky Reef, a feature that may be a characteristic of the reef in the region. Drilling of the second hole DT2, up-dip of DT1, is well underway and total hole results will be reported as soon as they become available, he added.

This sounds like good news grevis2 - why no sp movement?

Broker Recommendations - Thursday 19th May 2005, 10:52 am

Numis says buy Euromoney (527p target), Jubilee Platinum (LSE: JLP.L - news) (51p target), London Stock Exchange (555p target), MFI (126p target), Mitchells & Butlers (390p) and Scottish Radio (LSE: SRH.L - news) (target 1050p 1100p). The broker says reduce Boots (520p target) and add Brit Insurance (LSE: BRE.L - news) (95p target), Entertprise (438p target), Imprint , Mothercare (287p target) and Synergy Healthcare (445p target). Numis have put Tomkins (LSE: TOMK.L - news) price target and recommendation under review and sees a strong performance from BPB , with a target price of 540p. The broker says hold Shell (510p target price). Numis says buy Mining Equities, saying that continuing strong demand for commodities raises prices, as inventories remain at critical levels.

JUBILEE PLATINUM* (34p) - Buy - target 51p - Drilling
results from Tjate
>
>
> JUBILEE PLATINUM* (34p) - Buy - target 51p - Drilling results from Tjate
>
> Jubilee Platinum has reported the assay results from the deflection
drilling from its DT1 borehole at the Tjate property.
>
> Two additional intersections on the Merensky Reef and one on the
underlying UG2 Reef broadly confirm the results of the original borehole
results in terms of both grade and width. The original Merensky Reef
intersection was 99cm at a grade of 7.78g/t of 3PGE+gold.
>
> The deflections show grades of 7.37g/t and 10.95g/t respectively over
downhole widths of 110cm and 139cm.
>
> The UG2 deflection of 90cm at an average grade of 6.66g/t compares with
the original intersection of 96cm at a slightly higher average grade of
5.4g/t.
>
> The company also confirms that "Drilling of our second hole DT2, updip of
DT1 is well underway and total-hole results as above will be reported as
soon as they become available. With further data capture we will commence
pre feasibility studies in the summer."
>
> The additional results provide further encouragement and though we remain
of the view that the evaluation of the Tjate property will require
significant additional work, this is progressing and the company is clearly
moving to establish the geological, resource and engineering parameters
required to assess the economic viability of any future mine development.
>
> *Numis Securities acts as broker and advisor to Jubilee Platinum
> ANALYSTS: JOHN MEYER 020 7776 1578 / SIMON BEARDSMORE 020 7776 1564

m

Good rise of almost 7% today. Is there something in the offing...?

Think we should be expecting some news soon. Yesterdays rise was a significant one. Somethings cooking imo.

Fell off a cliff this afternoon. Anyone know why?

Don't know whats going on here but 3.9m sells in 2 minutes, one of >2m which is greater than 3% so we should get an RNS.
Could it be shares being freed to make more liquid ahead of Tjate drilling results or has something gone wrong, if the latter surely we'd have news in public domain before a sell-off?
JLP has so much potential, NAV already >50p and if Tjate confirmed as world-class mine it will increase, I'm hanging on in and maybe buying more as JLP is currently <5% of my portfolio so no need for me to panic.

Ive had this on my watchlist for a while now and depending on what the sells were in aid of i might be tempted to purchase some of these next week!

andysmith, you're right, there should be some news tomorrow. I'm hoping that it was shares being freed but we'll have to wait and see.

blackbelt, this one really is a shirt from your back or Ferrari in the garage share. If you do get in and it goes wrong you'll lose your initial investment (well, pretty much all of it). However, it it goes well and Tjate is a winner then you'll never look back and make many times your initial investment. That's why I'm in. For me, the potential reward outweighs the potential risk. Good luck with your decision.