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

Still nudging up, but no more news yet!

Business Financial Newswire
"South African mining company, Jubilee Platinum has issued a profits warning saying that its loss per share for the six months to 31 December 2009 will be 70% to 73% lower than the previously reported corresponding period.

The interim results will be published on 30 March 2010. "

Is JLP being run by a "dead parrot" who should be given the "bird"?

What do they mean ?, that the loss will be less or that the loss will be more ?...I read that as : the loss will be less than expected...not a profit warning but better than expected...not clear at all.

I'm with you rf. I don't think that is a profit warning at all otherwise it would say its losses will be higher than expected.

Interesting that the sp hasn't crashed already.

Business Financial Newswire
Jubilee Platinum posts a pre-tax loss of 293,000 for the six months to the end of December - down from 428,000 last time.

But operating losses increased to 1.7m - up from 774,000 last time.

Chairman Michael Burne said the highlight of the period was the acquisition of Braemore Resources which owns the exclusive rights to the Mintek patented ConRoast Process for the smelting of high chrome bearing platinum group metal concentrates.

Jubilee has the exclusive rights to ConRoast until 2020.

Braemore also has certain exploitation rights to BHP Billiton-owned nickel tailings in Western Australia.

He added: "With the acquisition of Braemore and further definition of the Tjate mineral resource, the company now has a broad base and critical mass from which to develop and further enhance shareholder value in a period of strong platinum price predictions."

Cautionary Announcement

"Jubilee shareholders are referred to the cautionary announcement published on 2 March 2010 and are advised that the negotiations referred to therein are ongoing, which, if successfully concluded, may have a material effect on the price of the company's securities. Accordingly, shareholders are advised to continue to exercise caution when dealing in the company's securities until a further announcement is made."

Yes quite bizarre. We're back in that territory again.

As the company uses the word 'successfully concluded' I guess this is something positive for the sp if agreement with whoever is reached.

The market seems unconvinced though.

Hasn't stopped Directors getting shares - Options are they? =this week see RNS.
Also the sp is about 25% down since the deal/acquisition of Braemore.
First to suffer, last to know.....Huh!

EDIT-(Jn10)-Placing raises 8m at 33p/sh. Maybe this price was the reason for earlier falls...

"Mintek's Demonstration Furnace Smelts 50 000 Tons of PGM Containing Feed and Concludes the Development Programme of the ConRoast Smelting Process.

Jubilee and Mintek are pleased to announce the successful completion of the development programme for the ConRoast Smelting Process. In March 2010 the demonstration DC-arc furnace passed the significant milestone of smelting 50 000 tons of material containing platinum group metals ("PGM") as part of the development of ConRoast.

Highlights
ConRoast development programme successfully concluded;

ConRoast established as the solution for platinum industry: smelts 50 000 tons of PGM concentrates during its development programme;

ConRoast outperforms the traditional smelting process on treatment of chrome rich PGM concentrates; and

Jubilee now focussed on construction of new commercial-scale ConRoast facility. "

StockMarketWire.com
"Natural resources group Jubilee Platinum has conditionally placed 24.2m new shares at 33p each to raise 8m from institutional investors.

The proceeds, along with existing cash resources, will be used to finance development and commercialisation of Jubilee's ConRoast smelting capacity and process, following the purchase of Thos Begbie Holdings announced in May.

They will also fund the purchase of a majority interest in an on-site gas-powered generator, completion of the Tjate bankable feasibility study and general working capital.

The placing price represents a discount of 8.7% to the 30-day volume weighted average price of Jubilee's shares. "

Jubilee is pleased to provide an update regarding progress of the planned development of its first fully commercial ConRoast DC arc furnace. The Company is also pleased to provide interim results of pilot scale refining trials using the Chemical Vapour Metal Refining Inc. (carbonylation) process for the recovery of platinum group metals and base metals (nickel, iron and cobalt) from ConRoast iron-rich alloy.

Highlights

Engineering and design study fast-tracked for the installation of the Company's first commercial ConRoast DC arc furnace utilising existing infrastructure and equipment at the newly acquired Middleburg processing facility;

Four-phase feasibility study commissioned for the refining of metals in ConRoast PGM alloy using the CVMR process;

Phase 1 - pilot scale CVMR process trials achieved exceptional results in the extraction of base metals: 99.5% of nickel and 95.6% of iron from ConRoast alloy as separate potentially premium grade nickel and iron products and a high grade PGM residue; and

Phase 2 commenced comprising additional refining testwork and preparation of feasibility study documents."

I believe that platinum is tipped to be the best performing precious metal in the coming months,so things might start to pick up

From this week's Shares Mag:
"Buy South Africa-based Jubilee Platinum (JLP:AIM) ahead of forthcoming news which should show a long-awaited improvement in its finances. The 71 million cap has historically spent money, not earned it, given its status as an exploration business.
Last years takeover of processing technology group Braemore Resources and the recent purchase of ferro-alloy smelting and power generation businesses have between them allowed Jubilee to start selling products and services. Jubilee has significant upside potential as it has a way of treating metallurgically- complicated ore namely platinum rock that is rich with chrome. It will apply in the next few months for a licence to mine its 25 million ounce Tjate platinum deposit.
Jubilee announced a deal with mid-tier producer Northam Platinum (NHM:JSE) on 15 July to consider building a furnace using ConRoast technology for which Jubilee has the exclusive rights until the patent expires in 2020. This partnership follows an 18-month collaborative trial to process chromerich platinum ore. Commodity sales covered the operating costs, yet Braemore expects to qualify for a 2 million bonus payment from Northam after platinum group metal recovery rates were much better than expected at 99.3% against Northams target of 97%. The ferro-alloy smelter business acquired on 4 May should become cashflow positive in November. From March 2011, it is expected to generate up to ZAR2.5 million (220,055) cash flow per month. Jubilees first ConRoast smelter should be ready by April 2011 where it is forecast to generate ZAR3 million (264,066) cash flow per month.
An estimated 60% of new platinum mine developments in South Africa are rich in chrome. Miners have historically focused on merensky rock as the source of platinum but are increasingly having to blend it with UG2 rock, which is the chrome-rich ore. To melt the chrome, miners have been forced to dramatically increase the temperature of their furnaces. Jubilee Platinum reckons this is dangerous and risks the furnace leaking as witnessed by Lonmin (LMI) this year or exploding. Given that South Africa is adopting a tough stance on safety in mining, Jubilee believes miners will migrate towards its ConRoast process for UG2 processing, claiming it is safer, uses 14% less energy than traditional smelters and is capable of recovering chrome from platinum ore more effectively."

TRADING STATEMENT

"In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes aware that the financial results for the next period to be reported on will show a 20% or more difference from those of the previous corresponding period.

Jubilee is expecting an increase in earnings per share of between 50% and 70% for the financial year ended 30 June 2010 compared to that of the previous comparative period and an increase in headline earnings share of between 15% and 35% for the financial year ending 30 June 2010 compared to that of the previous comparative period.

The information in this trading statement has not been reviewed or reported on by Jubilee's auditors. The year-end results announcement is expected to be published on or about 30 September 2010."

Should push higher now....at long last.....

rf last year they made a loss, does this news mean they have lost less or made a small profit?

Have not read through it all...but their earnings are going to rocket from now on...the only way this stock is going is up !.

Signs are encouraging, and about time too!