Tailings Projects Update

RNS Number : 6451V

Jubilee Platinum PLC

19 April 2016

 

Jubilee Platinum PLC

Registration number: 4459850

AltX share code: JBL

AIM share code: JLP

ISIN: GB0031852162

("Jubilee" or the "Company")

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."

Contacts

Jubilee Platinum plc

Colin Bird/Leon Coetzer

Tel [phone] / Tel [phone]

Andrew Sarosi

Tel [phone]

Nominated Adviser

SPARK Advisory Partners Limited

Sean Wyndham-Quin / Mark Brady

Tel: [phone]

Broker

Beaufort Securities Limited

John Belliss

Tel [phone]

JSE Sponsor

Sasfin Capital, a division of Sasfin Bank Limited

Sharon Owens

Tel [phone]

 

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