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

Jubilee Reports Results After Restructuring Its Platinum Portfolio

Wed, 11th Nov 2015 11:28
LONDON (Alliance News) - Jubilee Platinum PLC Wednesday reported its results for the last financial year, which was a period of transition for the company as it restructured its portfolio to focus on being a platinum producer.

The miner's main focus was on the Middelburg operations in South Africa, which comprised of a smelting operation and a power plant. Those operations generated almost all of the company's revenue and earnings but the company sold them after the financial year ended so it could focus on becoming a platinum producer.

Jubilee therefore separated its financial accounts for the year ended June 30 into current continuing operations and the Middelburg operations.

From current continuing operations, the platinum miner reported a GBP2.9 million pretax loss in the year ended June 30, narrowing from the GBP3.6 million loss a year as it cut its operating expenses to GBP2.8 million from GBP3.5 million. In absence of the Middelburg operations, the company generated very little in revenue in the year.

The Middelburg operations generated GBP5.2 million in revenue in the same period, which was up from GBP4.0 million a year earlier, leading the gross profit to rise to GBP3.0 million from GBP1.7 million. That narrowed the net loss before tax to GBP452,002 in the year from the GBP1.9 million loss a year earlier.

Jubilee sold the Middelburg operations on the first day of October to Siyanda Resources Proprietary Ltd for a total of ZAR110.5 million, around GBP5.3 million.

Jubilee conducted an expansion and optimisation programme at Middelburg during the financial year, which led to that improved performance. The operations then began to draw interest from suitors, leading to the sale so Jubilee could focus on becoming a platinum producer.

Although it has sold its sole revenue-generating operation, it believes using the proceeds from the sale to develop its platinum projects will yield better results in the long term.

"The income from the disposal will largely be invested in the construction and commissioning of the platinum surface projects, which offer the potential of a multiple increase in income when compared to the income potential of the Middelburg operations," it said.

Following the sale, Jubilee is left with a development portfolio of projects.

Its immediate focus is on platinum surface projects, which it hopes can deliver near term production to get its revenue running in the absence of the Middelburg operations. The main benefit of these types of projects is that platinum group metals lie at surface, meaning it is easy, quick and cheap to process and produce compared to an underground operations.

"These highly sought-after platinum surface beneficiation projects, come with little of the associated risk or cost of mining since all the material is at surface and their mineral content can easily be defined with a high degree of confidence. The company has been able to demonstrate its industry-leading processing ability in this field, which has assisted the company in securing the assets and allowing it to outpace its competitors," said the company.

Its first platinum surface project will be the wholly-owned Dilokong chrome mine surface tailings project in South Africa, which is thought to have around 950,000 tonnes of platinum/chrome containing material.

Jubilee gained access to the tailings at Dilokong in the year from the owner of the Dilokong mine, which will see Jubilee build a processing plant to process those tailings. That construction has already started and the company is hoping to commission the front end of the processing plant in the end of January 2016, with the chrome aspect of the plant being commissioned later in 2016.

Jubilee also has an agreement in place with the world's fourth largest ferrochrome producer Hernic, whereby Jubilee will build another plant to process Hernic's tailings in South Africa in a similar operation. The pair plans to sign a plant engineering and design agreement as well as a co-operation agreement which will lead to the construction of the plant.

In the long term Jubilee wants to develop its flagship Tjate platinum project in South Africa, where it is waiting to be formally awarded the mining right from authorities.

"In summary, the mining world remains complex and difficult for all concerned irrespective of their size and mission. As always this board refuses to be intimidated by matters outside their control and remain focused on building a significant platinum producing business," said Chairman Colin Bird.

3.625p +0.075p

Good summary of everything we knew but from the horses mouth.
Interesting point? - Leon said that we have the cash in the bank for the first project but that since they were bankable projects they would raise capital for the projects through finance with the bank or banks they have been talking to. Looks like they may be keeping cash back for further projects / overrun - which means that dilution should be a thing of the past once the finance is signed off.

Published on Nov 11, 2015
Leon Coetzer, chief executive of Jubilee Platinum (LON:JLP), says the firm’s platinum processing operations will avoid key risk areas and become profitable, even with platinum prices at historic low levels.
“None of our projects are true mining,” says Coetzer. “We’re focusing on the materials which have been mined.”
The link
Leon Coetzer, the firm’s platinum processing operations will avoid key risk areas and become profitable

StockMarketWire.com
Pre-site work programme for the Hernic tailings project is on schedule and commissioning remains on track for the fourth quarter of this year, Jubilee Platinum says in an shareholder update.

Other highlights:
� Erection of ASA Metals processing plant completed � Commissioning of the Plant targeted during February 2016

� Annualised processing capacity in excess of 900 000 tons from the two platinum surface tailings projects ("Platinum Projects") targeted for commissioning in 2016 � Company continues to explore potential acquisition of further platinum surface projects

The update says:
ASA Tailings Project Further to the announcement on 15 December 2015, Jubilee has progressed the construction and erection of its chrome plant at ASA Metals. The major plant process components, following the successful trial assembly at the manufacturer, were delivered to the ASA site in February 2016 and have been erected. The final tie-ins for piping, electrics and controls are being completed with commissioning slated before end February 2016 and ramping up to full production during March 2016. Jubilee has been able to remain on track despite rain delays during the construction phase. Shareholders are directed to the Company website for a picture library of the project. Hernic Tailings Project The fast-tracked Hernic project is progressing to schedule with commissioning of the 55 000 tons per month processing plant remaining on track for Q4 2016. Hernic's contractual activities in the Project, in terms of the Co-operation Agreement executed in 2015, including site preparation, the provision of services and the pre-commissioning of their on-site coarse chrome recovery plant are well on schedule: this includes the surface levelling, soil preparation and geo technical testing of the site foundation for the fine chrome recovery section and the PGM recovery plant to be provided by Jubilee. The Company has, through its subsidiary Braemore Precious Metals Refiners Proprietary Limited together with its engineering consultant confirmed final offers for the long lead project process items including the vertical tower fine grind mill and the large flotation cells. These final quotes are under review and the selection and appointment of preferred contractors is to be completed over the next week. Other Opportunities The Company continues to actively pursue further surface platinum opportunities on the back of securing successfully both the ASA Metals and Hernic projects, and has in-line with this target commissioned a study to determine a process strategy for an identified further 500 000 tonnes of similar surface material. The Company seeks to further increase its current estimated 4 000 000 tonnes of platinum containing surface material at the Hernic and ASA tailings projects. Disposal of Middelburg operations The Company announced on 9 October 2015, the disposal of 100% of the issued shares in Jubilee Smelting and Refining Proprietary Limited ("JSR"), and 70% of the issued shares in Power Alt Proprietary Limited ("PA") ("Disposal"), to Siyanda Resources Proprietary Limited ("Siyanda") through its newly named nominated special purpose vehicle Hornbill Investments Proprietary Limited ("SPV") and receipt of 85% of the purchase consideration in cash ("First Payment"). 10% of the remaining 15% of the purchase consideration is held in escrow in an approximated amount of GBP0.390 million (ZAR8.9 million), net of closing adjustments including stock and supplier adjustments. This amount was due by the SPV to Jubilee following the expiry of the first warranty period on 31 December 2015 (90 days after the closing date of 30 September 2015). Payment has however not yet been made and Jubilee has taken the necessary steps to expedite payment. The remaining 5% is due for release 12 months after the closing date, being 30 September 2016. Tjate mining right application The Company has received formal confirmation from the Department of Mineral Resources ("DMR") that the mining right application has progressed. We remain in contact with the DMR to continue expediting the process.

22 March 2016
Jubilee Platinum PLC
("Jubilee" or the "Company")
Project Funding for the Execution of Surface Platinum Processing Projects

Highlights

· Jubilee completes full project funding for the simultaneous execution of its two surface platinum-processing projects

· Chromite recovery section of first processing project ("First Project") commissioned and fully operational

· Jubilee's second processing project on track with all long lead items secured ("Second Project")

Jubilee, the Mine-to-Metals company ("Parent") and its subsidiary Jubilee Processing Proprietary Limited ("Jubilee's Processing Subsidiary"), are pleased to announce the successful completion of the project funding ("Funding") for the execution and commissioning of both its two surface platinum processing projects ("Two Projects").

The Funding comprises a combination of senior secured debt to a maximum of USD 10 million (ZAR 153 million) ("Senior Debt"), unsecured debt to a maximum of USD 5 million (ZAR 76.5 million) ("Unsecured Debt") and an equity placing of GBP 2.5 million (ZAR55.2 million). The Funding package allows Jubilee to execute simultaneously the Two Projects targeting the processing of 80 000 tonnes per month of surface material, while still being able to pursue the acquisition or securing of further surface or shallow platinum bearing opportunities.

The Senior Debt between Jubilee's Processing Subsidiary ("Borrower") and arranged by RiverFort Capital with an established financial institution ("Lender") under a loan agreement ("Agreement"), in terms of which the Lender has agreed to advance to the Borrower up to USD10 million (ZAR 153 million) ("Loan"), with an initial Advance of USD3 million (ZAR 49.5 million) ("Initial Advance") and a possible Further Advance of USD2 million (ZAR 30.6 million) ("Further Advance") subject to and upon the terms and conditions contained in the Agreement. The Borrower has agreed to accept and utilise the Initial Advance on the terms and conditions contained in the Agreement, and acknowledges its right to call for a Further Advance as provided for in the Agreement, in order to fund in aggregate its obligations to execute the Two Projects. The Two Projects target a combined processing capacity of 80 000 tonnes per month of surface material with an annual design capacity for the recovery of approximately 33 000 ounces of platinum group metals.

The Agreement has been structured to link the debt repayment obligation of Jubilee's Processing Subsidiary with the commissioning and ramp-up of the Platinum Processing projects with the Second Project targeted for ramp-up by December 2016. The Second Project will complement the First Project's processing capacity of 25 000 tonnes per month of feed. The chromite recovery section of the First Project is already commissioned and fully operational.

The Unsecured Debt provides Jubilee's Processing Subsidiary with access to funding of a further USD5 million (ZAR 76.5 million) to provide working capital during the ramp-up of the Second Project. The Unsecured Debt will be staggered over two equal tranches to fall in-line with the Second Project's commissioning and ramp-up phases with the final tranche scheduled for February 2017.

Equity Placing

In terms of the requirements of the Agreement, the combined project debt funding is supported by a Jubilee equity placing totalling GBP 2.5 million (ZAR 55.2 million). The placing comprises 89 285 714 new ordinary shares of 1 pence each ("Shares") in Jubilee (the "Placing Shares") at a price of 2.8 pence (ZAR 61.85 cents) per share.

The Shares have been issued as fully paid and rank pari passu in all respects with the existing ordinary shares, including the right to receive all dividends and other distributions declared on or after the date on which they are issued.

Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and to be listed on the AltX of the JSE Limited, which is expected to take place on or about 30 March 2016.

Total voting rights

Following Admission, the Company's total issued share capital will comprise 989 212 194 Shares. As the Company does not hold any Shares in treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission.

The Equity Placing ensures that Jubilee is able to execute simultaneously the Two Projects while ensuring Jubilee remains funded to aggressively pursue further near surface or at surface platinum opportunities. The Company looks forward to providing shareholders an update on progress made in this regard in due course.

Leon Coetzer says: "I am delighted that we have successfully implemented a total project funding package to ensure that Jubilee remains funded to execute its mission to establish itself as a significant low cost platinum producer. The project funding structure combines both debt and equity, recognizing the future profitability of the projects while securing funding to pursue further such surface or near surface platinum opportunities. The successful funding demonstrates the confidence of investors in Jubilee's robust business model."

http://www.moneyam.com/action/news/showArticle?id=5251127

Well, as I see it, there has been dilution and I'm none too keen on deals with financial Co. - although I read the loan-element is "Unsecured" (DYOR.), which "should" mean we don't find ANOther taking our assets when no-one is looking.

What I find difficult to understand is why do this at a time when "mining" is at a "low" - the Market for precious metals is not good - so whilst it can be said it's a good time to go Prospecting ( since equipment is available cheaply ), the return on processed ore is unlikely to be hugely profitable.

Of course Directors don't like to "Do nothing" and often don't see the long-term lull in metal demand being anything but short-term . . . . time will tell, but I suspect we may be waiting a while for the Metal Market to recover, depending upon China mostly.
However, sometimes doing nothing is good - keep the business ticking over, conserve cash etc.....

Is JLP on the brink of mega-riches . . . to push the sp over 20p would be nice..... but that nearly a 10-bagger . . . and I don't see that as a result of selling metal, however precious . . . . the big-Boys control the market and they can't find enough Buyers . . . so the price flags.

What do others think?

http://www.kitco.com/charts/liveplatinum.html

16:14 Onzima Ventures PLC (ONZ)
22 March 2016
Onzima Ventures PLC

Investment

The Company announces that it has participated in the placing of new ordinary shares by Jubilee Platinum plc ("Jubilee") as announced today as part of a total fundraise of £2.5 million gross.

Jubilee has also today announced the successful completion of debt project funding for the execution and commissioning of both of its two surface platinum processing projects at Dilokong and Hernic in South Africa. The debt funding comprises a combination of senior secured debt to a maximum of USD 10 million (ZAR 153 million) and unsecured debt to a maximum of USD 5 million (ZAR 76.5 million). The total funding allows Jubilee to execute simultaneously its two projects targeting the processing of 80,000 tonnes per month of surface material, while still being able to pursue the acquisition or securing of further surface or shallow platinum bearing opportunities.

Onzima subscribed for 4.7million shares at 2.8p per share for a total sum of approximately £132,000.

Luke Cairns, Director of Onzima, stated: "We are pleased to have taken part in this fundraising at what we consider is an attractive price. Jubilee is at a transformational stage as it looks to move into production at both of its new platinum tailings operations, while its Tjate mine project progresses in the background. Jubilee expects both Dilokong and Hernic to be producing this year thus we anticipate plenty of positive newsflow in the short term."

http://www.moneyam.com/action/news/showArticle?id=5252334

*****Click link at BOP for full details*****

31 March 2016
Jubilee Platinum Plc
("Jubilee" or "the Company")

UNAUDITED INTERIM RESULTS
FOR THE SIX MONTHS ENDED 31 DECEMBER 2015

The Directors of AIM-quoted and AltX-listed Jubilee, the Mine-to-Metals company, are pleased to announce the unaudited interim results of the Group for the six months ended 31 December 2015.

The interim results of the Group reflect Jubilee's firm focus on the execution of its surface platinum processing projects as it accelerates into a position where it will become a significant producer of platinum group metals. The recently reported corporate transactions and platinum processing agreements are transformational and position Jubilee as a potentially significant player in the platinum arena. Jubilee's mission is strengthened and supported by numerous opportunities for the rapid growth of the Jubilee Mine-to-Metals ambitions.

HIGHLIGHTS


During the period under review

· 30 September 2015, Jubilee completes the disposal of 100% of the issued shares in Jubilee Smelting and Refining Proprietary Limited ("JSR"), and 70% of the issued shares in Power Alt Proprietary Limited ("PA") to Siyanda Resources Proprietary Limited ("Siyanda") ("Disposal") for a consideration of, in aggregate, ZAR 110.5 million (approximately GBP 5.3 million)


· 85% of the Disposal consideration received in cash on 9 October 2015
· Jubilee retains right to construct a 5MW platinum furnace at the Middelburg Operations
· Jubilee retains rights to participate in any expansion of the Power Plant
· The Disposal further facilitates Jubilee's fast track approach towards the implementation of the two Platinum Surface Processing projects in 2016
· Loss per share from continued operations for the period reduced by 62% to a loss of 0.05 (2014: loss of 0.14) pence per share (ZAR 1.11 (2014: ZAR 2.51) cents per share)
· Loss per share from discontinued operations for the period up to 30 September 2015 ("Closing Date") reduced by 20% to a loss of 0.05 (2014: loss of 0.06) pence per share (ZAR 1.01 (2014: ZAR 1.12) cents per share)

Post the period under review

· Both surface processing projects fully funded
· Secured debt funding of up to USD 10 million (ZAR 155.4 million), unsecured debt funding of up to USD 5 million (ZAR 77.7 million) and equity funding of GBP 2.5 million (ZAR 55.4 million) secured for Jubilee's two platinum surface processing projects. ("Two Projects")
· First surface processing project commissioned and fully operational with a processing capacity of 25 000 tonnes per month
· Second surface processing project under construction targeting commissioning end 2016 with a processing capacity of 55 000 tonnes per month


Chief Executive Leon Coetzer commented:

"Jubilee has experienced a transformational period over the past 6 months which has continued through the current period. This has been brought about through the sale of its ferrous metals smelting operation and the acquisition of two platinum surface processing projects targeting an annualised production capacity in excess of 900 000 tonnes per annum.
"Jubilee has brought the first of its surface processing projects on-line with the second project well advanced targeting commissioning at the end of 2016. Jubilee was further successful in securing project funding for the execution and commissioning of both of its platinum surface projects through a combination of debt and equity funding. The equity component of the funding was minimised to balance the requirements of the lender while minimising the dilution of our shareholders."

http://www.moneyam.com/action/news/showArticle?id=5267324

Jubilee Platinum (LON:JLP, 3.08p) – Speculative Buy
08:39 01 Apr 2016

Yesterday Jubilee published its 1H 2016 results to December, an important 6 months in Jubilee’s history that saw it transform from a smelter business to a platinum tailings processing company. On 30th September Jubilee completed the sale of its smelting company for which it has thus far received 85% of the R110.5m cash consideration – Jubilee’s 1H 2016 cash flow statement shows cash inflow from disposal of £4.1m. At the end of the period Jubilee had £6.7m, an important reserve which will go towards funding the two platinum tailings operations.

Our view: In CY 2016, Jubilee’s management team can focus on delivering its two tailings operations. The First Project, also known as either Dilokong or ASA (ASA Metals is the ferrochrome company that produced the tailings) is in production and currently ramping up. The Second Project or Hernic is expected to be in production by the end of CY 2016. Funding is in place (announced last week) with up to $15m in debt and £2.5m of new equity. Management notes that this funding allows Jubilee to execute the two projects “while still being able to pursue the acquisition or securing further surface or shallow platinum bearing opportunities” i.e Jubilee is well funded with enough money to build the tailings plants plus make further strategic investments in the platinum space. Dilokong’s ramp-up and production numbers should provide newsflow over the coming months, as should progress at Hernic. We retain our speculative Buy recommendation.

Beaufort Securities acts as corporate broker to Jubilee Platinum plc

http://www.proactiveinvestors.co.uk/columns/beaufort-securities/24635/beaufort-securities-breakfast-alert-ferrum-crescent-jubilee-platinum-savannah-resources-mariana-resources-and-sierra-rutile-24635.html

Shard Capital updates Jubilee Platinum note now that production commences
5th April 2016

After a decade of steady working, JLP is now a mineral producer. This is no mean feat in the best of times. With a company-projected US$14m pa profit margin, we don’t expect further calls on shareholders during this phase of operations. Organic growth is certainly possible. The company has built its first mineral production capacity and now has finance for a second, larger facility. Chrome concentrate is already flowing and concentrate containing Platinum Group Metals (PGMs) is expected from the second facility in Q4 2016.

Please click the link below to download the full update note.

https://www.shardcapitalstockbrokers.com/downloads/ShardCapitalJubileeUpdateMarch2016.pdf

Jubilee Platinum PLC
("Jubilee" or the "Company")
08 April 2016

Notice of General Meeting

The Company announces that a General Meeting ("GM") has been convened on Friday 29 April 2016 at the office of Fladgate LLP, Ninth floor, 16 Great Queen Street, London, WC2B 5DG at 11:00 in order to request that shareholders approve the adoption of The Share Option Plan 2016. The Notice of General Meeting and Form of Proxy will be posted today to all shareholders and will also be available on the Company's website, www.jubileeplatinum.com.

Jubilee will be attending the UK Investor Show to be held on Saturday 30 April 2016 between 09:00-17:00 at the Queen Elizabeth II Centre, Westminster at stand number 23.

http://www.moneyam.com/action/news/showArticle?id=5285544

UK Investor Show
Saturday 30 April 2016

Colin Bird Jubilee Platinum Chairman is one of the speakers at this event and the company are also exhibiting there.

https://www.ukinvestorshow.com/#noAction

19 April 2016

Tailings Projects Update

The Company is pleased to announce that all matters relating to its chrome processing development and operations are progressing satisfactory and report increased throughput capacity together with operational control of the ASA project ("ASA").

Key Points of Progress

· Jubilee assumes operational control of all chrome processing capability at ASA

· Overall processing capability at ASA increases from 25,000 tpm to 75,000 tpm

· Increased processing capability provides increased scope for third party material importation

· Currently the Company is processing 55 tonnes feed per hour, which will increase over the coming weeks

· Operating margins per tonne will not be compromised and could potentially improve, based on only modest change, to the fixed cost component of the overall cost structure

· The Company's other tailings projects remain on target with all long lead time orders placed and initial construction progressing satisfactorily

· The Company will provide shareholders with an operating and financial report, following the first quarter of full production


Leon Coetzer, CEO said: "We are very pleased with progress on our tailings projects, particularly the increased chrome processing capability together with full operational control. This scenario will undoubtedly positively impact on all aspects of our chrome treatment business. We look forward to updating shareholders with real numbers as our operations progress."

http://www.moneyam.com/action/news/showArticle?id=5305460

Jubilee Platinum PLC advances as it fully takes on ASA operations
12:18 19 Apr 2016

Shares in Jubilee Platinum PLC advanced as it took full operational control under its tailings deal with South African firm ASA and increased chrome processing there.



Shares in Jubilee Platinum PLC (LON:JLP) advanced as it took full operational control under its tailings deal with South African firm ASA and increased chrome processing there.

The firm said overall processing capability at the Dilokong chrome mine had increased to 75,000 tpm (tonnes per month) from 25,000 tpm.

Currently, the company is processing 55 tonnes of feed per hour, which will increase over the coming weeks, it added.

Jubilee has rights to the tailings from two chromite mines in South Africa and when both process plants are running expects to be processing 80,000 tonnes of ore each month to recover 33,000 ounces of platinum group metals per year.

And the firm said today its other tailings projects remained on target with all long lead time orders placed and initial construction was progressing satisfactorily.

Leon Coetzer, chief executive, told investors: "We are very pleased with progress on our tailings projects, particularly the increased chrome processing capability together with full operational control.

"This scenario will undoubtedly positively impact on all aspects of our chrome treatment business.

"We look forward to updating shareholders with real numbers as our operations progress."

The firm also noted that the increased capability potentially provided increased scope for the group to take on third party material to process.

Shares in Jubilee gained 5.31% to stand at 2.975p a pop.

Giles Gwinnett

Platinum going places $1011.9 + $35.9

Proactive Investors One2One Investor Forum - London

Central Asia Metals | Berkeley Energia | Ariana Resources | Highlands Natural Resources | Jubilee Platinum

When & where: Apr 28th 2016, 6.00 pm - Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair

The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception. Details on the presenting companies can be found below.

http://www.proactiveinvestors.co.uk/register/event_details/57

Tailings Projects further update

28 April 2016

The Company is pleased to announce the achievement of key milestones at its chrome processing operation at the Dilokong Chrome Mine (“ASA project”). As previously announced Jubilee has secured access to an additional 50 000 tonnes per month (“tpm”) processing capability at the ASA project, thereby increasing its overall processing potential at ASA to 75 000 tpm. The additional processing capacity provides scope for importation of third party material, which should enhance overall financial results.

Highlights

•The ASA project exceeds design process throughput of chrome tailings
•The ASA project is currently processing feed at 60 tonnes per hour (“tph”), which significantly exceeds design capacity of 44 tph
•Chrome saleable concentrate in excess of 1 000 tonnes is ready for shipment
•Shareholders will be provided with operating and financial reports, following the first quarter of production

Leon Coetzer, CEO said: “I am very pleased with the commissioning and ramp up of our ASA tailings project. The increased throughput reflects the experience and training of our project and operational team and I look forward to even more increases. I appreciate that shareholders are eager to receive news on impact on financial performance and expect to give full details after our first quarter of full production.”

http://www.jubileeplatinum.com/investors-and-media/announcements/2016/28-apr-2016.php

Jubilee Platinum happy with tailings project progress
14:11 28 Apr 2016

The ASA project is currently processing feed at 60 tonnes per hour



Jubilee Platinum’s (LON:JLP) ramp up of tailings processing at ASA’s Dilokong mine in South Africa is running ahead of schedule.

The ASA project is currently processing feed at 60 tonnes per hour, compared to design capacity of 44 tph, Jubilee said.

Saleable concentrate in excess of 1,000 tonnes is ready for shipment, it added.

Jubilee has rights to the tailings from two chromite mines in South Africa and expects to recover 33,000 ounces of platinum group metals per year.when both are fully operational.

Leon Coetzer, chief executive, said he was pleased with how the ASA project was progressing.

“The increased throughput reflects the experience and training of our project and operational team and I look forward to even more increases.”

Philip Whiterow

29 April 2016

Results of General Meeting


Jubilee's General Meeting was held at 11 a.m. today, Friday, 29 April 2016.

The ordinary resolution proposed at the meeting was passed.

http://www.moneyam.com/action/news/showArticle?id=5332146