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

Exciting times for emerging chrome and platinum player
10 June 2016

Speculative Buy

Earlier this week Jubilee published an update focusing on production rates at its Dilokong chrome tailings operations. The announcement also highlighted the potential to quadruple chrome production now it has operational control of the Dilokong primary concentrator. This 75,000 tonne per month plant needs feeding with run of mine ore, which means Jubilee will be looking to nearby chrome mines for supply.

There is some uncertainty as to whether Jubilee will become the permanent operator of the primary concentrator. However, as the current operator, and given its agreement to mine and process Dilokong’s tailings for up to 10 years, we believe Jubilee is well placed to take full control and ownership. This might also include the Dilokong underground mine and would transform Jubilee into a significant chrome player.

Meanwhile, Jubilee is full steam ahead on constructing the Hernic tailings plant. This will include an upfront fine (tailings) chrome concentrator and a platinum recovery circuit. The chrome circuit should be operational in October, followed by the platinum circuit in December. Jubilee’s revenues at Hernic will primarily be from its platinum production.

Dilokong chrome tailings – beating nameplate capacity

At its recently built chrome tailings plant, a sustainable feed rate of 75 tonnes per hour is now being achieved which translates to production of c.6,500 tonnes of chromite concentrate per month. This equates to annual production in excess of 75,000t of concentrate compared with original plans of closer to 40,000t.

Dilokong primary concentrator - operatorship

Jubilee now has operational control of the primary concentrator at Dilokong, opening up various opportunities to process run-of-mine chrome ore in the area. Jubilee is now looking at buying-in ore from nearby chrome mines and upping chrome concentrate production from the current 6,500 tonnes per month level towards capacity of 25,000 tonnes per month of concentrate at the same grade.

Leveraging the Hernic agreement

Jubilee’s hidden value is in its metallurgical/processing expertise i.e its ability to maximise recoveries from chrome and platinum tailings feedstocks. This explains how it won both the Dilokong and Hernic tailings contracts and could result in it securing similar agreements with other ferrochrome companies in future.

Valuation and recommendation

Jubilee’s business is evolving and could soon include a larger chrome component and/or a new tailings agreements. As a result we are unable to produce financial forecasts or a Jubilee Platinum valuation. We do however maintain a Speculative Buy recommendation based on the Dilokong tailings operations and the fully financed Hernic tailings project.
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***Full details from Link at BOP***
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Summary

The situation is at Dilokong is dynamic. It is a huge opportunity for Jubilee which could result in Jubilee becoming a primary chromite concentrate producer (i.e. producing chrome concentrates from ore) and potentially a chromite mining company. On the other hand, Dilokong could end up being a tailings only operation for Jubilee. It will depend on the results of the business recovery process.

Meanwhile the Hernic tailings project is being built and progress there will provide newsflow throughout 2016. In 2017, Jubilee should be producing platinum from Hernic and chromite and platinum from Dilokong. We are also hopeful that Jubilee will negotiate one or more new Hernic type (chrome tailings to platinum) agreements with other Ferrochrome players. These are interesting times for Jubilee Platinum.

Very quiet here on a stock that appears to be finally on the path to redemption....
Would expect to see this test last years high and then perhaps step back before a final breakout. However if it breaks through with strong supporting volume then any pullback would likely be limited.
All imo of course.

TJATE EXECUTES MINING RIGHT


Highlights

· The 22.33 million PGM ounce* Tjate Platinum Project ("Project") is awarded its Mining Right

· The execution of the Mining Right is a significant milestone in the development of the Tjate Platinum Project in support of Jubilee's Mine-to-Metals strategy

Leon Coetzer, Chief Executive Officer of Jubilee said:" We are pleased that the Tjate Platinum Project has received the mining right. The mining right is a major milestone in the development of the Project and is in line with the Company's Mine-to-Metals strategy. The mining right confirms the significant potential value the Project offers to Tjate and contributes to the Company's resource portfolio. The timing of the mining right coincides with the continued global recovery supporting the anticipated improvement in the platinum markets. The Tjate Platinum Project is one of the world's largest undeveloped block of platinum and we look forward to unlock its full potential."

Jubilee, the AIM-quoted and AltX-listed Mine-to-Metals specialist, is pleased to announced that Tjate Platinum Corporation Proprietary Limited ("Tjate"), has executed a mining right ("Mining Right") with the Department of Mineral Resources in respect of the Project comprising the Farms Dsjate 249 KT, Fernkloof 539KS and Quartzhill 542 KS, situated in the Magisterial District of Sekhukhune in the Limpopo Province of South Africa.

Tjate now has the right to mine and process all platinum group metals, chrome, nickel, copper, gold and certain associated metals and minerals from the Project mining area, subject to Tjate complying with the terms of the Mining Right and alignment to the requirements of the Mining Charter.

The Mining Right is significant not only to Tjate and Jubilee, as largest shareholder, but also for South Africa's mining industry as a whole and is a culmination of Tjate's exploration on the Bushveld for the past 10 years.

Cash in bank , more wanted, after results in may int loss £2m . have a holding
will buy more @ 5.5 p BB

Where's banjomick finally getting some reward for all his work , i hope .

Sold up months ago, needed some cash! :-( and a grrrrrrrrrrrrrrr but good luck to all!

paid 6.5 today doubled my holding, large funds to now invest is the reason, apart
from other factors. BB