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

StockMarketWire.com
Jubilee Platinum (LON:JLP), the AIM and JSE Limited quoted mine-to-metal specialist, is pleased to announce that, further to prior cautionary announcement of 16 January 2013, the Company has secured and concluded indicative project financing in total, from financial institutions to reinstate operations at the near surface Phokothaba Mine, which has currently been placed under care and maintenance by PLA.

Consequently, the Company and PLA have agreed to extend the Heads of Agreement to 04 February 2013, to conclude the Implementation Agreement to execute the proposed merger of PLA. The Company will provide further details on the Proposed Transaction on conclusion of the Implementation Agreement.

Leon Coetzer, Chief Executive Officer of Jubilee, said: "We are pleased with the Company's progress towards securing funding for the reinstatement of the Phokothaba Mine and we are moving aggressively towards concluding the Proposed Transaction. The enlarged group would include the combination of shallow and at-surface mining, a fully operable shallow mining operation and smelters and exploration assets underpinned by the very large Tjate mining exploration asset, making the enlarged group a significant low cost player in the platinum industry."

Tempted to take the profit here.

StockMarketWire.com
Jubilee Platinum and Platinum Australia Ltd have extended the heads of terms agreement for their proposed merger to 15 February.

Jubilee Platinum said this follows an agreement between PLA and its senior creditor over settlement of PLA's debt.

Jubilee says the due diligence investigations are largely complete, and the binding implementation agreement is in the final stages of negotiation, pending completion of accounts for finalising the merger ratios.

On the current timetable, completion of the proposed transaction is projected for May.

StockMarketWire.com
Jubilee Platinum, the AIM and JSE quoted mine-to-metal specialist, has announced that it still expects its planned merger with Platinum Australia (PLA) to be completed by the middle of May.

The company says that all the transactional documents have been finalised apart from the PLA creditors' compromise arrangements which are expected to be concluded by the end of the week.

Transactional Agreements to acquire PLA

HIGHLIGHTS

· The Transaction is a share based transaction whereby Jubilee acquires all of the listed ordinary shares in PLA by offering to current shareholders in PLA one Jubilee share for every 2.593 PLA shares held ("Enlarged Group").

· The Enlarged Group will result in a significant South African platinum group metals producer supported by strong prospects for expansion through the development of its near surface resources.

· Jubilee is able to accelerate its Mine to Metals strategy through the Transaction which would include a fully operational platinum mine and processing plant together with Jubilee's operational smelting operation.

· Jubilee's Mines to Metal strategy will be brought forward, directors believe, by some 18 months and the resultant earlier cash flow will position the Company well to secure further opportunities in the near-term.

· The input of Dilokong Chrome Mine tailings will enable the Smokey Hills Platinum Mine ("Smokey Hills") to be brought back into production at a more modest output rate than previously designed thus extending mine life and ensuring that mine production targets are more achievable.

· The Enlarged Group would have exclusive right to the ConRoast smelting process ("ConRoast"), enhancing earnings from its own production and giving access to third party earnings by entering into agreements to utilise ConRoast.

· The Enlarged Group has a mission to access platinum-bearing tailings, open up near-surface platinum-bearing chrome deposits and develop smaller less capital intensive mining operations.

· The Enlarged Group will have a 63% shareholding in the Tjate project which is amongst the largest undeveloped platinum resources in South Africa.

Issue of Equity

Further to the announcement on 27 September 2012, Jubilee, the AIM and JSE Limited ("JSE") quoted mine-to-metal specialist, is issuing 1,194,455 Shares as the third and final tranche of consideration for the purchase of further shares in Jubilee subsidiary Power Alt (Pty) Ltd ("Power Alt"). As a result, Jubilee's holding in Power Alt will increase by 1.9% to 70% and completes its acquisition goal for Power Alt, thereby enabling the Company to pursue its strategy to maximise Jubilee's exposure to the growing demand for the sale of private energy to the South African electricity public utility.

The Company expects that 1,194,455 ordinary shares of 1 pence each will be admitted to trading on AIM and the JSE on 28 February at 8am United Kingdom time and 10am South African time respectively.

Following the above share issue, the total issued share capital of the Company will be 346,304,576. The Company holds no ordinary shares in treasury. Therefore, following the issue of equity, the total number of voting rights in the Company will be 346,304,576.

TEMPORARY SUSPENSION OF TRADING ON AIM

JUBILEE PLATINUM PLC

Trading on AIM for the under-mentioned securities has been temporarily suspended from 28/03/2013 3:30pm, pending an announcement.

JUBILEE PLATINUM PLC

The trading on AIM for the under-mentioned securities was temporarily suspended. The suspension is lifted from 02/04/2013 07:30am, an announcement having been made.

BFN

Andrew Sarosi, Executive Director, bought 64,444 shares in the company on the 16th April 2013 at a price of 7.72p. The Director now holds 64,444 shares.

64,444 shares isn't exactly a glowing endorsement, although I hold them and hope to do well long term.

Good luck

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Jubilee is pleased to announce an operations update for the first quarter of 2013 as well as an update regarding the planned acquisition of Platinum Australia Limited ("Platinum Australia" or "PLA").

Financial Highlights
· Unaudited quarterly revenues and gross profits continue to grow;
· Unaudited revenue increased by 32% during Q1 2013 compared to the previous quarter - excluding electricity sale revenues to the Middelburg smelter operations;
· Unaudited gross profit increased by 47% during Q1 2013 compared to the previous quarter.

Operational Highlights
· Jubilee increased its interest in Power Alt (Pty) Ltd ("Power Alt") the owners of the Middelburg Smelting Refinery, to 70% in February 2013;
· Power Alt extended its existing private power sale contract with the national electricity public utility; and
· Ferroalloy smelters operated at approximately 72% of capacity during this period.

http://www.moneyam.com/action/news/showArticle?id=4599572

StockMarketWire.com
Jubilee Platinum has sold 65% of Jubilee Smelting and Refining and 40% of Power Alt (Pty) to Global Renewal Energy for $14m.

Jubilee has also been granted an irrevocable put option for two years to dispose of the remaining shareholding in JSR and PowerAlt for $4.933m.

Jubilee also issued an update on the on proposed acquisition of Platinum Australia.

Jubilee said the The timeline required to secure financing had been moved to coincide with the first court hearing for the proposed scheme of arrangement between the two companies targeted for 10 June.

Chief executive Leon Coetzer said: "Jubilee has been successful in bringing to value its shareholding in the non-core ferroalloy smelting business and associated power plant. This enables Jubilee to direct the proceeds from the Disposal of the non-core ferroalloy smelters into the continued development of the company's platinum mine-to-metals strategy.

"Our immediate focus is to expedite the recovery of platinum from the Dilokong chrome mine tailings while we target further such surface material opportunities. The proceeds from the Disposal enables Jubilee to further capitalise on platinum opportunities presented to the company due to current challenges within the platinum industry.

"We are able to dispose of our non-platinum business while retaining the processing right and platinum smelting capacity for platinum containing material at the Middelburg facility.

"Our platinum mine-to-metals strategy remains on course with the added benefit of an enhanced cash balance in Jubilee." Coetzer added: "The extension in the funding condition precedent allows Jubilee to review the updated business model for the PhokaThaba mine in-line with the proposed toll processing of 3rd party platinum-reef material, as announced on 23 May 2013, before committing to final funding terms."

UPDATE ON THE DISPOSAL OF NON-CORE ASSETS

Acquisition of PLA update


· Settlement value of ZAR3.5million (GBP224,500) reached between PhokaThaba, PLA and JIC payable to JIC within 14 days from settlement date
· The Liquidation Application has been set aside
· The Regulated Event has been remedied
· The first court hearing for the approval of scheme of arrangement for the acquisition of PLA is confirmed for 20 June 2013

should keep colin happy with a few more g & t's!

Market doesn't like this, 5p is close to all-time lows, maybe due to Issue of yet more shares . . . . WHY? If they are expecting cash. Also I'm not convinced sell off assets is a good idea . . . . one wonders why they bought them in the first place?
Ho-Hum.

Dead duck imo , quack quack !

StockMarketWire.com
Jubilee Platinum is reviewing its options over the sale of its smelting and power arms after Global Renewal Energy failed to make the second payment due at the end of July.

GRE agreed in May to acquire Jubilee Smelting and Refining (Pty) Ltd in Middelburg - a wholly owned subsidiary of Jubilee - and the 70% of the issued share capital of Power Alt (Pty) Ltd for an aggregate cash consideration of US$14m.

It was agreed that the transaction may be executed over two tranches, namely a disposal (tranche 1) which includes the sale of 65% of the issued share capital of JSR and 40% of the issued share capital of PowerAlt and an option whereby Jubilee retains an exclusive put option for the remaining share capital held by the company. The option was secured by Jubilee to evaluate Jubilee's continued exposure to the revenue generated by these non-core assets versus the value of the put-option. Consideration for the disposal comprised a non-refundable deposit payment of US$0.2m plus an amount of US$8.9m which was due to be paid on or before 31 July under the extension granted by Jubilee.

The granted extension for the second payment was also subject to further payments by GRE to JSR which included the funding of the expansion of the JSR smelter off gas systems. To date Jubilee has received the non-refundable deposit payment of US$0.2m as well as US$0.56m non-refundable funding from GRE - in settlement of specified creditors of JSR and PowerAlt and to fund increased production of the smelting complex. However, while GRE has made payments under the extension granted it is in default of the stipulated payment terms for the second payment.

Jubilee says it has not received the US$8.9m from GRE which was due on 31 July.

Jubilee Platinum chief executive Leon Coetzer said: "We are disappointed that GRE has not honoured the terms of the Transaction. This sale of non-core assets by Jubilee is not fundamentally linked to the Jubilee business strategy and instead is a transaction that offered Jubilee the opportunity to liquidate its shareholding in businesses that do not form part of Jubilee's platinum mine-to-metals strategy.

"We will review the appropriate action to take regarding the transaction after further discussions with GRE and our advisers taking into account the continued growth in the businesses. "In the interim we will continue to drive the growth in revenue from these businesses on the back of the increased capacity.

StockMarketWire.com
Jubilee Platinum subsidiary Tjate Platinum Corporation (Pty) received a Department of Mineral Resources notification of acceptance of its mining right application for the Tjate platinum mine project.

Tjate is consulting with the DMR to agree on the timing and deadlines for submission of a scoping report and separately an environmental management programme as required by the Mineral and Petroleum Resources Development Act, 2002.

Jubilee Platinum chief executive Leon Coetzer said: "The acceptance of the mining right application for the Tjate platinum mine project brings us one step closer to progressing the project.

"It has been independently appraised to contain a potential net 70 million ounces of PGMs and gold. While this remains a long-term development the fact that we have it in our portfolio highlights the scope and scale of the business that we are building as we also have a number of near-term opportunities.

"On that front we are now in a position to commence processing of the Dilokong Chrome Mine tailings and ramp up production over the coming months. We remain focussed on creating a platinum company which combines strongly complementary assets."

WATCH: Leon Coetzer, CEO of Jubilee Platinum, discusses the company's growth strategy.

Click here to watch