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

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.

nm

Well, those of us who have been in on this one for a while can afford a smile tonight. Still along way to go yes, but hopefully the sp will hold at higher levels with two "potential" world class mines now yielding excellent results and three others still being explored. If a majoe miner took out JLP in the future it would cost far more than the current sp which is at a NAV discount before todays data.

From AFX focus at 17:11pm

Jubilee Platinum 45-3/4 up 9-1/4

Major discovery in Madagascar; Numis 'buy'


So Numis are saying Buy, I hope KBC bother to put a note out and say the same :)

Cheers,
PM

Fluctuated a lot but mainted its shape to close down just 1/2 which is a pretty good result given yesterday's gains.

Hopefully we'll get more coverage in the IC and Shares to wake people up to the massive potential of JLP, in the meantime I'm even more convinced that topping up is a good idea if there is any drift down again. Not taking my profits yet and wonder what new price target could be if it was possible 170p before this announcement?

Hmmm - 170p to me is like donuts to Homer. Beautiful. Still, probably a pipe-dream although if the recent find is as good as they think....

Yeah, mineweb said it all, 3 'world class PGM deposits' and a MCap of 'only 30m'

Smart money will be moving in here, I don't expect a rocketing share price, but it will creep up as the potential is realised, and Numis saying 51p will not be in the minds of those speculatively buying before we get to 1.70(or more !)

LOADS of exploration ongoing, and results of that exploration will be coming in over the next 3-4 months, and the price will keep pushing up, with every confirmed extension to the resources.

Cheers,
PM

Jubilee Strikes Madagascan Paydirt

Business Day (Johannesburg)

September 6, 2005
Posted to the web September 6, 2005

Charlotte Mathews
Johannesburg

LONDON-listed mining explorer Jubilee Platinum had identified the potential for a large regional platinum and palladium mine at its Londokomanana project in Madagascar, it said yesterday.

Its first borehole showed an intersection of 0,23% nickel, 0,11% copper and 1,05g/ton of platinum, palladium and gold over the entire width, with a 1:1 ratio of platinum to palladium.


The wide intercept and shallow depth would make this an ideal resource for open-pit mining, it 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," Jubilee CEO Colin Bird said.

Jubilee will undertake further drilling to confirm whether the formation is continuous.

Jubilee's share price rose 23,29%, or 8,5p, to 45p on the London Stock Exchange following the announcement yesterday.

Numis Securities analyst John Meyer said in a note to clients that this result provided considerable encouragement, and that Jubilee had a valid target in Madagascar. But there was still a lot of detailed drilling and test work to be done before it could demonstrate a resource and establish a mineable reserve.

The strategy for many junior mining exploration companies is to identify a reserve and then sell it -- or develop it by forming a joint venture with a large company. Madagascar is relatively undeveloped as far as mining projects go.

An obvious partner for Jubilee could be Impala Platinum (Implats), which recently entered into a joint- venture nickel project on the island.

Bird said no discussions had been held with Implats, and Jubilee was keen to progress its properties on its own, as far as possible

How much would Impala or Rio Tinto offer JLP for this resource, if it is shown to be 'world class' ????

A lot more than the MCap of JLP, thats for sure :)

Cheers,
PM

Excellent post and research PM - thank you

Hi All,

Time for some calculations, hopefully they will be passed on to other BB's, because not enough people realise the potential value here ....

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

"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"

8,000,000 is the minimum in this model, who knows what level of production JLP or Impala or Rio Tinto could reach ....

For the model :-

8,000,000 Tons Per Annum
Value $54 per ton
Cost to extract the PGM's $20 per ton

$54 - $20 = $34 per ton profit

8,000,000 x $34 = $272,000,000 .... PROFIT PER ANNUM !

$272,000,000 at todays exchange rate equals 147,626,000 PROFIT PER ANNUM !

And JLP still only have an MCap of circa 30m !

"Immediately following the Placing the total number of Ordinary Shares in issue will be 69,922,828"

That would make the profit equal to around 2.11 per share, so if Impala or Rio Tinto bought the resource, for one or more years profit value, this stock would more than quadruple. If JLP did the mining, the stock would still more than quadruple.

Cheers,
PM

So are you in yet Paul? I've added.

Andy Hi,

15,500 shares so far at 54.45p avg :)

If YOO or LGB pop before JLP go up(quite likely !), I will add :)

Cheers,
PM