Hernic Update

RNS Number : 0280S

Jubilee Platinum PLC

28 September 2017

 

Jubilee Platinum PLC

Registration number (4459850)

AltX share code: JBL

AIM share code: JLP

ISIN: GB0031852162

Jubilee Platinum Plc

("Jubilee" or "the Company")

Hernic Update

Jubilee wishes to assure shareholders that the notification of Hernic Ferrochrome Proprietary Limited ("Hernic") voluntary business rescue to facilitate the restructuring of some its business activities (''Business Process") has no current effect on Jubilee's operations at Hernic.

Leon Coetzer, Chief Executive Officer, says:

"Jubilee is very accustomed to operating within this Business Process. We have already engaged with Hernic to offer our services wherever appropriate within this process.

Normal operations at Hernic are expected to continue for the foreseeable future with stable chrome market conditions persisting.  Our platinum and chrome operation is processing both current arisings stemming from Hernic's mining operations as well as platinum containing material from the vast surface stocks.

As far as the Company is concerned it is business as normal.  We continue to be buoyant by our overall results and progress at our Hernic platinum and chrome operations and have over the past week achieved production levels in excess of 1 900 tonnes of feed material per day moving towards a robust operation. "

28 September 2017

Contacts

Jubilee Platinum plc

Colin Bird/Leon Coetzer
Tel [phone] / Tel [phone]
Andrew Sarosi
Tel [phone]

JSE Sponsor

Sasfin Capital, a division of Sasfin Bank Limited
Sharon Owens
Tel [phone]

Nominated Adviser

SPARK Advisory Partners Limited
Sean Wyndham-Quin/Mark Brady
Tel: [phone]

Broker

Beaufort Securities Limited
Jon Belliss
Tel: [phone]

 

END

 

 

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