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Jubilee disposal, acquisition update

By BFN News | 01:27 PM | Tuesday 14 March, 2017


Jubilee Platinum has confirmed receipt of the final purchase consideration relating to the disposal of its Middelburg operations. The Company has also announced that Dilokong Chrome Mine, through Jubilee's subsidiary Jubilee Tailings Treatment Company, has entered into an agreement for the acquisition and processing of 3rd party ore containing chrome and PGM's to bolster the production at DCM. Leon Coetzer, Chief Executive of Jubilee, said: "Negotiations for the acquisition of 3rd party ore at DCM have been ongoing and we are pleased to announce that this objective has been reached. The first 5 000 tonnes of material will be processed to determine the economic contribution to the project with the option to increase the material up to 15 000 tonnes per month. The much higher mineral content of the 3rd party ore compared with the current tailings material offers the potential to significantly increase the production rates for the project. We are equally pleased that the outstanding payments relating to the sale of our Middelburg operations have been settled with all moneys now received." At 1:27pm: (LON:JLP) Jubilee Platinum PLC share price was +0.28p at 5.73p Story provided by StockMarketWire.com

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