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

As long as there is no bad news, I see this drop as a buying opportunity that I thought I wouldn't see again.

No RNS, so likely seller on Friday had and still has >3%, encouraging sign unless we have more big sells. This has massive potential, worth hanging in.
If no bad news by Friday I'll have some more at these prices.

Nice steady climb for a few days - Perhaps an RNS next Monday - I have topped up

Could this be the start of the next leg up as we've been languishing between 32-38p for months now?

been watching this for a while, price picking up a bit, but still not convinced...

MCap now looking seriously low ....


Major Discovery in Madagascar

RNS Number:8066Q
Jubilee Platinum PLC
05 September 2005

5 September 2005



AIM: JLP

JUBILEE PLATINUM PLC

("Jubilee" or "the Company")



Jubilee Makes a Major Discovery in Madagascar



Drilling Intersects 70 metres of Nickel-Copper-Platinum-Palladium Mineralisation



Jubilee is pleased to announce the results of its first borehole LAV1 drilled on
the Lavatrafo property (Londokomanana Project) in Madagascar. The Londokomanana
Project is located approximately 150 kilometres north of the Madagascan capital
Antananarivo.



Highlights



* Drilling intersects a 70 metre-wide multi-metal
(nickel-copper-platinum-palladium) formation at shallow depth (37metres)

* Intersection over the entire width (from 38metres to 108metres) grades 0.23%
nickel (Ni); 0.11% copper (Cu) and 1.05g/t 3E (platinum (Pt), palladium
(Pd) and gold (Au))

(The full results are appended below)

* Pt to Pd ratio is 1 to 1

* Copper equivalent of the total intersection is 1.56% at current metal
prices as of 2nd September 2005

* In-situ value of total intersection is US$56/t rock at those metal
prices


Intersection includes


* 6.2 metres (from 55.6m to 61.8m) grading 2.47 g/t 3E and


From metres To Interval % Cu In-situ value
$/t (at
metres metres % Ni % Cu g/t 3E equiv. current
prices)
72.8 108.4 35.7 0.31 0.19 0.99 1.9 69
89.4 108.4 19.1 0.34 0.20 1.05 2.1 74
75.3 83.5 8.3 0.32 0.23 1.15 2.1 75
102.3 108.4 6.1 0.47 0.24 1.02 2.6 95



* Wide intercept and shallow depth ideal for open pit mining

* Intersection proves recently established geophysics model

* Potential for large regional development since the combination of
geophysics and sampling in the area suggests the system may extend over 35
kilometres.


An industry accepted model for a bulk mining operation producing not less than 8
million tonnes per year is believed to be approximately US$20/tonne production
cost made up of approximately US$11 per tonne as direct operating cost and US$9
per tonne for capital recovery.


Set Point Laboratories (ISO 17025 Accredited and SANAS Accredited to 223) in
Johannesburg, South Africa carried out the analyses of the drill core samples.


Colin Bird, CEO of Jubilee, said "The size and scope of this discovery bears all
the fundamentals required for a world-class resource combining good grades with
a suite of metals sought after in the market. The thickness of the intersection
provides the potential for large-scale mining and the confirmation of our
evolving model from the recent geophysics programme, suggests that Londokomanana
could develop into a regional, as opposed to a local situation, with some 35
kilometres of ground, some of which has been tested with similar geophysics.
Further drilling, some 180 metres south and along strike, is confirming
continuity of the formation. Results will be released as soon as these become
available.


Hennie Blignault, Consulting Geologist to Jubilee said "This discovery outside
the South African Bushveld Complex is extremely significant in world terms."


Mr. Blignault is a former group geologist for Gold Fields of South Africa and
was a lecturer and research associate at the University of the Orange Free State
and the University of Cape Town.



For further information please contact:


Colin Bird Cathy Malins / Annabel Leather
Jubilee Platinum plc Parkgreen Communications Ltd
Tel: 07768 397 627 Tel +44 20 7493 3713

Excellent news and just the ticket to get the sp heading on a one-way ticket northwards. The company's ascertation that this turns the prospect from a local into a regional one is most encouraging.

Agreed queen1 - let us trust there is not too much profit taking and that we can close the day around 45p while the big boys do their research. Here we go the MMs have just started shaking the trees - they must be collecting hopefully for a big buyer.

Oakapples142 - a short-lived shake though as the sp is back up. I'm starting to get a good feeling on this one...

Great news chaps! Lets hope we're heading towards the 170p valuation mooted in Shares mag.

Chad Hi,

Could you send me the shares mag article ?

Anyone got any brokers notes ?

Cheers,
PM

UK's Jubilee Platinum up 27 pct on Madagascar find

LONDON, Sept 5 (Reuters) - Shares in junior platinum explorer Jubilee Platinum Plc (JLP.L: Quote, Profile, Research) jumped a quarter in value on Monday after it announced a "major multi-metal discovery" in Madagascar. Jubilee, listed on London's Alternative Investment Market (AIM), said it had intersected a 70-metre wide formation containing nickel, copper, platinum and palladium, just 37 metres below the surface.

By 1036 GMT, Jubilee shares were 27.4 percent higher at 46-1/4 pence, their highest level since mid-March, making the company worth 32.5 million pounds ($60 million).

Most of Jubilee's projects are in South Africa's northern bushveld complex, where 70 percent of the world's platinum is mined. But Jubilee is also prospecting four sites in Madagascar, where mining majors such as Phelps Dodge (PD.N: Quote, Profile, Research) and Rio Tinto (RIO.L: Quote, Profile, Research) have moved to exploit the relatively unexplored territory.

"The size and scope of this discovery bears all the fundamentals required for a world-class resource combining good grades with a suite of metals sought after in the market," Chief Executive Colin Bird said in a statement.

Jubilee said the thickness of the deposit at its Londokomanana project and indications it could stretch up to 35 km (22 miles), suggested it could develop into a regional, rather than local, mine.

And it added that platinum and palladium had been found at the project, 150 km north of the capital Antananarivo, in equal measure. This would be a greater proportion of platinum -- five times more valuable than palladium -- than found in the bushveld complex. John Meyer, mining analyst at Numis Securities said the result was encouraging, though he added a lot of detailed drilling and test work was needed before Jubilee could prove it had a mineable reserve

Hi All,

My short term target is 1, I will review again when it gets there :)

Cheers,
PM

paulmasterson1,

The 170p per share was a possible valuation of all of Jubilees assets, provided they all came good, in the pick of the week article in shares mag some months back. I no longer have the copy so im unable to comment in more detail.

regards.

The Shares article was in edition of 14 April, and the extract you want is "If the Tjate prospect in South Africa is proved to contain nearly 70 million ounces of Platinum that alone will value Jubilee at 170p a share" We are in for an upwards ride guys and girls - hold onto your hats and your nerve !

Chad/Oakapples Hi,

Thanks very much for your replies, it sounds better the more I think about it :)

Cheers,
PM

Intersting to see how it fares tomorrow.

Cheers all.

Chad Hi,

Shame Numis aren't more bullish on JLP, or they would have been 1 already, it's good to be able to get in this cheap though, as they could be offered a huge amount of cash for this resource, (once they have proven the length of the resource) probably by one of those mining majors mentioned in the article I posted earlier .... "But Jubilee is also prospecting four sites in Madagascar, where mining majors such as Phelps Dodge (PD.N: Quote, Profile, Research) and Rio Tinto (RIO.L: Quote, Profile, Research) have moved to exploit the relatively unexplored territory. "

I think it's only going one way for a while .... UP :)

Cheers,
PM

From the excellent Mineweb Website this evening ....

http://www.mineweb.net/sections/platinum/480896.htm


Jubilee exploring potentially world-class deposit in Madagascar
By: Rhona O'Connell
Posted: '05-SEP-05 16:12' GMT Mineweb 1997-2004

LONDON (Mineweb.com) -- Jubilee Platinum, listed on AIM and with a market capitalisation at present of fractionally more than 30 million (US$55.5 million), is assembling a portfolio of properties with a focus on the platinum group metals. While the companys major prospect is the Tjate project on the Bushveld in South Africa, which is contiguous to the Twickenham and Marula mines of Anglo Platinum and Impala respectively. The inferred resource at Tjate is 65 million ounces of platinum group metals and gold. Jubilee is also in joint venture with Golden Prospect plc (also listed on AIM) on the York platinum group metals project in Sierra Leone, in an area with a history of artisanal platinum production.

The latest news concerns Madagascar. Jubilee has been operating in Madagascar since 2002 and has 10-year exploration permits on more than 100,000 hectares of prospective concessions. It is currently working on three potentially world-class nickel / copper / PGM projects. These are the Londokomanana, Ambodilafa and Lanjanina. Londokomanana, which is the subject of the latest results, lies 150km to the north of the Madagascan capital Antananarivo.

Stream sediment and spoil sampling, trenching and geophysics have identified an inferred 22-kilometre total strike length of potential world-class magnitude nickel-copper mineralisation over Londokomanana.

Ambodilafa is showing a major, largely unexplored, ultrabasic intrusion, measuring roughly 20km north-south and four kilometres east-west. Previous research by the French government body Bureau de Rherches Glogiques et Minies (BRGM) had included a 93 metre intersection of disseminated pentlandite and chalcopyrite sulphides averaging 1% copper content and a geophysics programme is scheduled for the fourth quarter of this year. Gold grades have also been identified in the southwest corner of Ambodilafa.

At Londokomanana, the first borehole (LAV 1) in the new drilling programme has intersected a 70-metre wide formation at a depth of only 37 metres, and it looks as if this deposit has the scope to host a world class open-pittable resource at good grades.
The deposit is showing values for nickel, copper, platinum and palladium. The average grades over the entire width work out at 1.05g/t three PGE (i.e. platinum, palladium and gold), along with 0.23% nickel and 0.22% copper. The Pt:Pd ratio is one-to-one, which in terms of in situ metal compares very favourably with the majority of non-South African deposits, in which palladium is the predominant metal. If the PGE and nickel are taken as credits, then the copper equivalent grade was 1.56% (prices based on September 2) with an in-situ value of the total intersection of US$56/t of rock. The company notes that an industry-accepted model for a bulk mining operation producing not less than eight million tonnes per year is believed to be approximately US$20/tonne production cost, made up of approximately US$11 per tonne as direct operating cost and US$9 per tonne for capital recovery. The potential for early capital repayment and free cash flow is clear.

The grade increases with depth. Interesting intersections include 35.7 metres between 73 and 108 metres grading 0.99g/t three PGE, 0.31% nickel and 0.19% copper; at the deeper levels there is a six-metre interval (from 102m to 108m) grading 1.02 g/t three PGE, 0.47% nickel and 0.24% copper. The intersection confirms the geophysics model that the company had recently established and the combination of geophysics and sampling in the area suggests that the system may extend over 35 kilometres.

Chief Executive Officer Colin Bird has management experience in the natural resources industry and has previous corporate and financial experience in resource companies that have developed and financed projects in Spain, Latin America and Africa. He is currently a director of Lion Mining Finance. Other board members have experience in the platinum industry, largely through Anglo American, Matthey Rustenburg Refiners and JCI.

Birds assessment of the latest development is that: The size and scope of this discovery bears all the fundamentals required for a world-class resource combining good grades with a suite of metals sought after in the market. The thickness of the intersection provides the potential for large-scale mining and the confirmation of our evolving model from the recent geophysics programme, suggests that Londokomanana could develop into a regional, as opposed to a local situation, with some 35 kilometres of ground, some of which has been tested with similar geophysics. Further drilling, some 180 metres south and along strike, is confirming continuity of the formation. Results will be released as soon as these become available.

Clearly there is a long way to go yet, but early indications would suggest that Jubilee may well have found an elephant.

From Sharecast this evening ....

Snap: Jubilee announces discovery in Madagascar

LONDON (SHARECAST) - Jubilee Platinum shares received a fillip after the group announced a 'major' discovery in the Lavatrafo property in Madagasca.

"The size and scope of this discovery bears all the fundamentals required for a world-class resource combining good grades with a suite of metals sought after in the market," said CEO Colin Bird.

Consulting geologist to Jubilee, Hennie Blignault, said the discovery is extremely significant in world terms. Copper, platinum, nickel and palladium were the metals found Jubilee said.