http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Tue, 25 Apr 2017 03:53:35 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Jubilee Platinum 'accelerating investment into projects' says CEO Leon Coetzer ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7212/jubilee-platinum-accelerating-investment-into-projects-says-ceo-leon-coetzer-7212.html Mon, 03 Apr 2017 06:12:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7212/jubilee-platinum-accelerating-investment-into-projects-says-ceo-leon-coetzer-7212.html <![CDATA[RNS press release - Interim Results - replacement ]]> http://www.proactiveinvestors.co.uk/companies/rns/170330jlp0648b/ Thu, 30 Mar 2017 15:18:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170330jlp0648b/ <![CDATA[News - Jubilee Platinum slashes losses as tailings operations ramp up ]]> http://www.proactiveinvestors.co.uk/companies/news/175704/jubilee-platinum-slashes-losses-as-tailings-operations-ramp-up-175704.html Jubilee Platinum PLC’s (LON:JLP) performance improved markedly in its latest half year as its chromite processing operations started to hit full stride.

Losses were cut by more than two-thirds to £0.53mln in the period to December as revenues rose to £4.85mln.

The improvement reflected the start–up of its tailings treatment plant at the Dilokong chrome mine since when it has started production at a plant based at the Hernic mine, also in South Africa.

WATCH: Jubilee Platinum "accelerating investment in projects", says boss ...

Reflecting those developments, capital spending jumped to £11.2mln in the half year. Income from Dilokong was £1.36mln.

Leon Coetzer, chief executive, said Jubilee had been transformed over the period by the sale of its Middelburg operations and the acquisition of three platinum surface processing projects.

These could boost annualised production to more than 1.14mln tonnes per annum.

“The award of the Tjate mining right further emphasised the progress made in the implementation of Jubilee's business model of establishing a fully integrated Mines to Metals company. 

“Jubilee has brought the first two of its surface processing projects on-line with the first platinum concentrate production commencing at the Hernic project in March of this year. 

“We have also secured a further two surface projects to continue along Jubilee's steep growth curve.” 

Shares eased 4% to 5.39p.

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Thu, 30 Mar 2017 14:54:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/175704/jubilee-platinum-slashes-losses-as-tailings-operations-ramp-up-175704.html
<![CDATA[RNS press release - Interim Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/170330jlp0424b/ Thu, 30 Mar 2017 12:15:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170330jlp0424b/ <![CDATA[RNS press release - Jubilee commences platinum production ]]> http://www.proactiveinvestors.co.uk/companies/rns/170329jlp9183a/ Wed, 29 Mar 2017 14:15:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170329jlp9183a/ <![CDATA[News - Jubilee Platinum nails third tailings deal in a week ]]> http://www.proactiveinvestors.co.uk/companies/news/174970/jubilee-platinum-nails-third-tailings-deal-in-a-week-174970.html Jubilee Platinum PLC (LON:JLP) has acquired another sizeable mound of platinum-bearing tailings in South Africa.

Just days after agreeing deals for copper tailings in Australia and a chromite ore supply deal at Dilokong, its other operation in South Africa, Jubilee has bought 1.25mln tonnes of tailings close to its Hernic mine operation.

Leon Coetzer, chief executive, said: "I am particularly pleased with this acquisition.

“At stable operations the combined projected output from our projects is now targeting 50,000 oz PGMs per year from tailings resources, which do not attract the burden and risk of hard rock mining.”

The new surface material is graded of 2.7 g/t 4E PGMs (platinum, palladium, rhodium and gold) and will 14 000 oz PGMs annually to Jubilee's existing PGM production from tailings and third party processing.

Coetzer added these grades were exceptional  compared with other similar material while the location was within trucking distance of its Hernic project's PGM processing plant. Even so Jubilee is mulling building a dedicated PGM plant at the new dump.

The acquisition cost is £3.13 (R50) per tonne for the platinum remaining an initial removal of chromite.

Approximately 79% of the surface material is estimated to remain following chromite removal, which equates to a 4E PGM acquisition value of £3mln (R49.4 mln). 

The agreement allows for a two-stage payment to vendor PlatCro over three months once the agreement is signed off.

Financing for the acquisition is through a placing at 5p to raise £3.3mln.

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Fri, 17 Mar 2017 07:55:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/174970/jubilee-platinum-nails-third-tailings-deal-in-a-week-174970.html
<![CDATA[RNS press release - Execution of Platinum Tailings Agreement ]]> http://www.proactiveinvestors.co.uk/companies/rns/170317jlp7809z/ Fri, 17 Mar 2017 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170317jlp7809z/ <![CDATA[News - Jubilee Platinum sources more chrome tailings for Dilokong plant ]]> http://www.proactiveinvestors.co.uk/companies/news/174787/jubilee-platinum-sources-more-chrome-tailings-for-dilokong-plant-174787.html Jubilee Platinum PLC (LON:JLP) has tied up its second tailings contract in the space of a week.

Hot on the heels of a copper tailings deal in Australia, its South African operation has found a second source of chromite tailings for its processing plant located at the Dilokong mine.

A trial will be carried out first, but Leon Coetzer, Jubilee’s chief executive, said potentially it is much higher grade than the material currently going through the plant.

“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 third party ore compared with the current tailings material offers the potential to significantly increase the production rates for the project.”

Under the terms of the Framework Agreement, Jubilee’s subsidiary gets both a rand per tonne of product produced as well as a share of earnings generated from the processing of third party ore.

Coetzer added it had also received the final payment of £390,000 for its now sold Middelburg smelter.

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Tue, 14 Mar 2017 15:51:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/174787/jubilee-platinum-sources-more-chrome-tailings-for-dilokong-plant-174787.html
<![CDATA[RNS press release - Final proceeds from Middelburg and DCM update ]]> http://www.proactiveinvestors.co.uk/companies/rns/170314jlp4430z/ Tue, 14 Mar 2017 13:15:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170314jlp4430z/ <![CDATA[Media files - Copper tailings project excites on a number of fronts, says Jubilee Platinum boss ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7073/copper-tailings-project-excites-on-a-number-of-fronts-says-jubilee-platinum-boss-7073.html Thu, 09 Mar 2017 13:31:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/7073/copper-tailings-project-excites-on-a-number-of-fronts-says-jubilee-platinum-boss-7073.html <![CDATA[News - Jubilee Platinum moves into copper through Aussie tailings deal ]]> http://www.proactiveinvestors.co.uk/companies/news/174524/jubilee-platinum-moves-into-copper-through-aussie-tailings-deal-174524.html Jubilee Platinum PLC (LON:JLP) is to broaden the range of metals it processes with the addition of a surface copper tailings project in Australia.

The project has projected production of 12,000 tonnes (t) of copper (Cu) at production cost A$3,381/tCu  (US$2,569/t) compared to a current price of US|$6,000/ t 

In addition, there is a further 35,000t of copper resources on the surface, while other tenements on the project also have exploration potential.

Jubilee expects to be generating cashflow within six months of completing the acquisition.

The dumps stem from Resilience Mining Australia’s Leigh copper mine. RMA will receive A$8mln payable in stages and dependent on certain milestones being hit.

Leon Coetzer, Jubilee’s chief executive,  said: "The execution of this Term Sheet demonstrates Jubilee's ability to apply its processing success and expertise in the recovery of platinum and chrome to associated base metals such as copper. 

The expertise that Jubilee holds in the processing of near surface materials and tailings is easily transferred to minerals that fall within the PGM and Base Metals grouping, he said, while Australia is a country he wants Jubilee to target

The move into copper was based on strong underlying fundamentals for the metal in the short and mid-term, he added.

“Discussions are progressing favourably to secure further opportunities in both the platinum and associated base metals arena and we remain confident to secure further such opportunities in the short term."

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Thu, 09 Mar 2017 08:02:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/174524/jubilee-platinum-moves-into-copper-through-aussie-tailings-deal-174524.html
<![CDATA[RNS press release - Jubilee Executes Surface Tailings Transaction ]]> http://www.proactiveinvestors.co.uk/companies/rns/170309jlp9272y/ Thu, 09 Mar 2017 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170309jlp9272y/ <![CDATA[News - Production at Jubilee Platinum’s Dilokong project back on track ]]> http://www.proactiveinvestors.co.uk/companies/news/174309/production-at-jubilee-platinums-dilokong-project-back-on-track-174309.html Production rates at Jubilee Platinum PLC's (LON:JLP) Dilokong chrome mine (DCM) tailings project returned to previous levels last month following a “successful” expansion of the tailings storage facility (TSF) at the property.

The TSF is being extended to maximise the amount of chrome the company can process at Dilokong.

The first phase of the construction was completed at the end of January, with Jubilee managing to continue with production throughout, albeit at a lower rate.

As a result, the firm processed 19,100 tonnes of chromite concentrate in the three months to December 2016, compared to 28,500 tonnes in the previous quarter.

Despite the lower production, a “significantly higher” chromite price helped to boost project earnings by almost 19% to £1.8mln (Q3 2016: £1,548).

However, the lower concentrate production coupled with the loss of incentives saw Jubilee’s share of the earnings fall to £465,000.

Although that’s less than the £888,000 recorded in the prior three months, it’s still more than what Jubilee earned in the second quarter of 2016 (£456,000).

“The operating results are satisfactory against the constraints of the expansion of the tailings storage facility,” said chief executive Leon Coetzer.

“The DCM project performed to maintain production output during this challenging construction period.  The expansion of the tailings facility was completed on time allowing the project to restore its operational throughput.”

There are further expansion phases required at Dilokong, but Jubilee said these won’t have a direct impact on production rates. 

Another boost will come in the form of third party chrome and platinum containing material which is scheduled to be delivered later this month.

At the moment, all chromite production at DCM comes from the processing of surface tailings.

Coetzer also told investors that the commissioning and ramp-up of its Hernic chromite and platinum recovery plant remains “a key focus” and the company will update investors over the coming weeks as it starts delivering product from the operation.

The boss also touched on a possible addition to the group’s portfolio, staing: “We are confident that we will shortly conclude a further acquisition with discussions progressing favourably in other areas of acquisition and joint venture.”

Jubilee added it has also raised £472,500 from a warrant exercise.

Shares were up 0.15p, or 2%, to 6.6p.

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Mon, 06 Mar 2017 12:05:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/174309/production-at-jubilee-platinums-dilokong-project-back-on-track-174309.html
<![CDATA[RNS press release - DCM Operations update and Exercise of warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/170306jlp6017y/ Mon, 06 Mar 2017 09:45:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170306jlp6017y/ <![CDATA[News - Jubilee Platinum soars after milestone development at Tjate ]]> http://www.proactiveinvestors.co.uk/companies/news/174113/jubilee-platinum-soars-after-milestone-development-at-tjate-174113.html Jubilee Platinum PLC (LON:JLP) had cause for celebration Thursday as the Tjate platinum project, in which it has a stake, was awarded its mining right.

The execution of the mining right is a significant milestone in the development of the project, located in the Limpopo province of South Africa, and adds extra credibility to Jubilee's mine-to-metals strategy.

The timing of the decision by the Department of Mineral Resources is particularly good, Jubilee said, as commodity markets continue to bounce back.

It means the Tjate Platinum Corporation now has the right to mine and process all platinum group metals (PGM), chrome, nickel, copper, gold and various other minerals in the project mining area.

As Tjate’s largest shareholder, this is excellent news for Jubilee, as evidenced by the share price reaction; the shares were up 23% in the first hour of trading.

"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,” said Leon Coetzer, chief executive officer of Jubilee. 

“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,” Coetzer added.

“The Tjate Platinum Project is one of the world's largest undeveloped block of platinum and we look forward to unlock its full potential," Coetzer concluded.

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Thu, 02 Mar 2017 09:08:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/174113/jubilee-platinum-soars-after-milestone-development-at-tjate-174113.html
<![CDATA[RNS press release - Tjate Executes Mining Right ]]> http://www.proactiveinvestors.co.uk/companies/rns/170302jlp3364y/ Thu, 02 Mar 2017 08:30:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170302jlp3364y/ <![CDATA[RNS press release - Exercise of last warrants at specific issue price ]]> http://www.proactiveinvestors.co.uk/companies/rns/170221jlp4674x/ Tue, 21 Feb 2017 15:15:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170221jlp4674x/ <![CDATA[RNS press release - Exercise of Last Warrants at Specific Issue Price ]]> http://www.proactiveinvestors.co.uk/companies/rns/170215jlp0016x/ Wed, 15 Feb 2017 15:31:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170215jlp0016x/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/170213jlp7362w/ Mon, 13 Feb 2017 11:45:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170213jlp7362w/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/170208jlp3269w/ Wed, 08 Feb 2017 08:45:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170208jlp3269w/ <![CDATA[News - Jubilee Platinum starts production at second tailings plant ]]> http://www.proactiveinvestors.co.uk/companies/news/172720/jubilee-platinum-starts-production-at-second-tailings-plant-172720.html Jubilee Platinum PLC (LON:JLP) is now producing chromite from its new recovery plant at Hernic’s mine in South Africa.

The plan is for Jubilee to produce both chromite and platinum and the focus now will switch to commissioning the PGM recovery plant.

The chromite recovery plant forms the feed to the platinum group metals (PGMs) recovery plant.

Leon Coetzer, chief executive, said that with chromite now in production it was busy implementing the commissioning phase of the platinum recovery plant.

At full production, it will be the largest PGM beneficiation plant of surface chrome tailings in South Africa with the aim to process 55,000 tons per month of chrome and PGM tailings.  

Hernic’s tailings dumps have been classified having 1.7mln tons PGM material, of which approximately 90% is in the measured category.

Other dumps could boost this to 3mln tons of raw material containing more than 224,000 ounces of platinum.

Shares rose 6% to 4.25p.

 

 

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Mon, 06 Feb 2017 16:04:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/172720/jubilee-platinum-starts-production-at-second-tailings-plant-172720.html
<![CDATA[RNS press release - Hernic Project in Production ]]> http://www.proactiveinvestors.co.uk/companies/rns/170206jlp1398w/ Mon, 06 Feb 2017 14:45:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170206jlp1398w/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/170203jlp9862v/ Fri, 03 Feb 2017 09:30:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170203jlp9862v/ <![CDATA[News - Jubilee Platinum’s transformation into chrome-producing cash cow continues ]]> http://www.proactiveinvestors.co.uk/companies/news/172498/jubilee-platinums-transformation-into-chrome-producing-cash-cow-continues-172498.html Early in January, shares in Jubilee Platinum PLC (LON:JLP) hit a 12 month high of 4.325p. Although this price is some way off the levels hit during the peak times of the last mining boom, it’s not far off the three year high of 4.625 hit in September of 2015. 

Given that times have been tough in platinum for many years now, as supply continues to outstrip demand, that’s not bad going.

So, what’s the secret?

A turnaround story

“Jubilee’s a real turnaround story,” says chairman Colin Bird.

“At Dilokong it’s going well. We’re making a lot of money with chrome. Our original deal was to treat the dump, take out the platinum and give back the chrome, but now we’ve got the rights to the chrome as well.”

This has meant that Jubilee has been transformed from a mining and mining processing technology company into a serious cash cow.

Income is rising

This process had just begun when the company reported its last set of full year results, back in November 2016, but the signs were already clear enough. In the year to June 2016, Jubilee was still loss-making, but it was talking about total earnings from Dilokong in the third quarter of £2.291 mln.

Now, says Bird, the income from a full year of tailings processing at Dilokong is likely to come in at between US$8mln and US$10mln.

With a second tailings processing operation now coming on stream at Hernic nearby, a similar sized income stream is about to be added.

This is a far cry from the company that struggled to make a success of its deep-level platinum resource on the Bushveld and then moved into speculative exploration in Madagascar.

The key is the deployment of the specialist Conroast processing technology by the company’s able chief executive Leon Coetzer. It’s the careful application of this technology in a space that many other companies have tried and failed to move into that is now turning waste rock into dollars for Jubilee, and moving up the share price.

“We’re getting all this chrome, and now we’re stockpiling all this platinum," says Bird.

Platinum plans add further potential

That last is a conundrum though. After a modest rise in the middle of last year, platinum price has resumed their downward trajectory, a trend that’s been ongoing for six or seven years now.

“We tried to defer building a plant for the platinum,” explains Bird. “We thought, if we’ve got all this platinum why not let it go to a platinum company, and the companies would have bought our product, but they weren’t willing to pay enough. So, we’re going to build a small and economical plant after all, and that’s going to work really well for us.” 

Meanwhile, things finally seem to be moving on the company's Tjate platinum project, where a mining right has been awarded after a drawn-out process.

The execution of the mining right is a significant milestone in the development of the project, located in the Limpopo province of South Africa, and adds extra credibility to Jubilee's mine-to-metals strategy.

It means the Tjate Platinum Corporation now has the right to mine and process all platinum group metals (PGM), chrome, nickel, copper, gold and various other minerals in the project mining area.

As Tjate’s largest shareholder, this is excellent news for Jubilee.

More deals on the way?

So, what’s the company going to do with all the cash that’s coming in?

First, there’s ongoing debt to pay down, but Dilokong is allowing that to be serviced with ease.

“Some of the debt commitments we’ve got in front of,” says Bird.

Perhaps more significant for the longer-term, he hints that there may be a certain amount of corporate activity in the pipeline.

“We’ve one or two deals on the go,” he says.

It’ll be interesting to see what happens next.

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Wed, 01 Feb 2017 11:43:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/172498/jubilee-platinums-transformation-into-chrome-producing-cash-cow-continues-172498.html
<![CDATA[News - Jubilee Platinum ready to go with second tailings plant ]]> http://www.proactiveinvestors.co.uk/companies/news/172366/jubilee-platinum-ready-to-go-with-second-tailings-plant-172366.html Jubilee Platinum PLC (LON:JLP) expects to push the start button of its huge new tailings plant at the Hernic chrome mine in South Africa within weeks.

The plant will produce both chromite and platinum, with the tailings from the chromite process to provide the raw material for the platinum.

Hernic is the fourth largest chrome miner in the world and has a huge amount of material piled up and is still producing more.  

Jubilee said it will tie the chromite plant in with Hernic’s operation within ten days, while integration of the two recovery plants is also expected to complete this month.

In total, the two plant will transport the tailings material over 7km of conveyors.

At full production, it will be the largest PGM beneficiation plant of surface chrome tailings in South Africa with the aim to process 55,000 tons per month of chrome and PGM tailings.  

Hernic’s tailings dumps have been classified having 1.7mln tons PGM material, of which approximately 90% is in the measured category. Other dumps could boost this to 3mln tons of raw material containing more than 224,000 ounces of platinum.

Annual revenues of £18.2mln (R400mln) are forecast at an average metal basket price of US$906 per oz.

Jubilee added it is now into final functional testing of fully integrated metallurgical unit processes using process water prior to feeding chromite and PGM material.

Capital costs to the commissioning stage are expected to be £10mln (R167.1mln) or 85% of the projected total capital spent on the project.

 Leon Coetzer, Jubilee’s chief executive said: "We are excited with the progress as we complete the testing and commissioning of our Hernic project. 

"The complexity of bringing such a large project into operation has been well managed through a disciplined commissioning program and the support of our contracted engineering and project management partners.” 

Jubilee added it had also raised £340,000 through a warrant exercise. 

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Mon, 30 Jan 2017 12:13:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/172366/jubilee-platinum-ready-to-go-with-second-tailings-plant-172366.html
<![CDATA[RNS press release - Hernic Tailings Project update ]]> http://www.proactiveinvestors.co.uk/companies/rns/170130jlp4386v/ Mon, 30 Jan 2017 09:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170130jlp4386v/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/170125jlp1086v/ Wed, 25 Jan 2017 14:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170125jlp1086v/ <![CDATA[RNS press release - Update notification and Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/170117jlp3754u/ Tue, 17 Jan 2017 13:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170117jlp3754u/ <![CDATA[RNS press release - Results of AGM and Change of Registered Office ]]> http://www.proactiveinvestors.co.uk/companies/rns/161206jlp1065r/ Tue, 06 Dec 2016 13:32:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/161206jlp1065r/ <![CDATA[RNS press release - Jubilee Live Interactive Webcast ]]> http://www.proactiveinvestors.co.uk/companies/rns/161128jlp3262q/ Mon, 28 Nov 2016 13:15:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/161128jlp3262q/ <![CDATA[RNS press release - Audited results for the year ended 30 June 2016 ]]> http://www.proactiveinvestors.co.uk/companies/rns/161114jlp0672p/ Mon, 14 Nov 2016 08:01:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/161114jlp0672p/ <![CDATA[News - Jubilee Platinum results reveal Dilokong progress ]]> http://www.proactiveinvestors.co.uk/companies/news/168952/jubilee-platinum-results-reveal-dilokong-progress-168952.html The momentum is behind the Jubilee Platinum’s (LON:JLP) Dilokong chrome mine tailings project in South Africa (DCM).

Its earnings at the year-end for the operation were £744,000 and have increased to £2.3mln in the three months to September.

The update was provided in annual results for the business, which has also secured funding for the construction of the Hernic Tailings Project (South Africa).

The plan is to build a 660,000-ton a year platinum and chromite processing plant.

In the 12 months ended June Jubilee posted revenues of just under £1.5mln and an operating loss of £3.8mln.

It is sitting on £4.4mln of cash following the sale of the Middelburg smelting operation.

 

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Mon, 14 Nov 2016 06:38:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/168952/jubilee-platinum-results-reveal-dilokong-progress-168952.html
<![CDATA[RNS press release - Exercise of Warrants & Dealing in Securities ]]> http://www.proactiveinvestors.co.uk/companies/rns/161111jlp0061p/ Fri, 11 Nov 2016 13:15:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/161111jlp0061p/ <![CDATA[News - Jubilee Platinum rejects termination notice from BHP Billiton ]]> http://www.proactiveinvestors.co.uk/companies/news/168756/jubilee-platinum-rejects-termination-notice-from-bhp-billiton-168756.html Jubilee Platinum PLC’s (LON:JLP) subsidiary, Braemore Nickel, has had its tailings supply agreement covering the Leinster nickel operations in Western Australia terminated by mining giant BHP Billiton plc (LON:BHP).

Braemore has told BHP that it rejects the notice since it believes there is no legal or factual basis for such a termination.

The subsidiary has been conducting an internal review of the Leinster project to try and improve its viability as part of an economic evaluation.

Jubilee stressed that this nickel tailings project does not form part of its earnings nor does it affect its platinum and chrome projects.

Shares were down 1% to 3.55p.

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Wed, 09 Nov 2016 14:22:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/168756/jubilee-platinum-rejects-termination-notice-from-bhp-billiton-168756.html
<![CDATA[RNS press release - Braemore Tailings Project ]]> http://www.proactiveinvestors.co.uk/companies/rns/161109jlp7594o/ Wed, 09 Nov 2016 12:30:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/161109jlp7594o/ <![CDATA[News - Jubilee Platinum shares higher as chromite production continues to grow ]]> http://www.proactiveinvestors.co.uk/companies/news/167762/jubilee-platinum-shares-higher-as-chromite-production-continues-to-grow-167762.html Jubilee Platinum PLC (LON:JLP) shares went north as it reported a 108.22% increase in revenues from chromite sales in the third quarter compared to the second and said it was close to sealing another acquisition.

The increased revenues come from the group's Dilokong Chrome mine tailings project in South Africa.

Chromite concentrate output was up around 88% to 28,559 tons for the three months, compared with the preceding quarter, which led to revenue of £2.09mln for the quarter.

Earnings attributable to the firm was up 94.73% to £0.888mln against the second quarter.

Jubilee's chief executive Leon Coetzer told investors: "The operating results are very satisfactory and show increasing performance quarter on quarter which is reflected in our financial performance."

He added that Jubilee continued to pursue projects in a bid to increase its cash flow.

"We are confident that we will shortly conclude a further acquisition with discussions progressing favourably in other areas of acquisition and joint venture," he said.

Meanwhile, construction of the 660 000 tons a year platinum and chromite processing plant continues to progress on schedule, and is targeting commissioning in December this year.

Capital expenditure to end September was £7.45 million, which is equivalent of 71% of total projected capital.

Shares added 4.23% to 3.7p.

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Fri, 21 Oct 2016 10:34:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/167762/jubilee-platinum-shares-higher-as-chromite-production-continues-to-grow-167762.html
<![CDATA[RNS press release - Platinum Projects quarterly update ]]> http://www.proactiveinvestors.co.uk/companies/rns/161021jlp1643n/ Fri, 21 Oct 2016 08:45:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/161021jlp1643n/ <![CDATA[News - “The dirty work has been done.” and Jubilee Plat can rise 70% ]]> http://www.proactiveinvestors.co.uk/companies/news/167425/the-dirty-work-has-been-done-and-jubilee-plat-can-rise-70-167425.html Jubilee Platinum PLC (LON:JLP) shares could rally by some 70% in the not too distant future, according to technical analyst Zak Mir, who says a break-out from current levels may see the share reach 6p.

Looking at the chart, Mir says the “dirty work” was done a year ago.

He highlights that the share has been consolidating a recovery of late but will in time rally from current levels, around 3.5p, to retest 6p.

WATCH Zak Mir's analysis of Jubilee Platinum now

Jubilee Platinum’s projects are doing well, and the company is also benefitting from a turnaround in sentiment towards the mining sector generally, Mir added.

He also notes the positive sentiment towards the company and the sector.

“Precious metal stocks have been on the front foot in a massive way,” Mir said in a Tips TV segment for Proactive Investors.

“Private investors always liked this company, even in the dark days of the post-2011 downturn in the mining sector, so it does have a lot of goodwill there.”

Mir notes a long term uptrend in the share chart, and said triggers for buying would come as the price breaks out from current levels.

Traders will want to look for 3.75p to be broken on a weekly close, he added.

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Fri, 14 Oct 2016 10:34:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/167425/the-dirty-work-has-been-done-and-jubilee-plat-can-rise-70-167425.html
<![CDATA[Media files - Jubilee Platinum’s share chart shows the “dirty work” done, Zak Mir predicts a rally ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/6186/jubilee-platinums-share-chart-shows-the-dirty-work-done-zak-mir-predicts-a-rally-6186.html Fri, 14 Oct 2016 10:29:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/6186/jubilee-platinums-share-chart-shows-the-dirty-work-done-zak-mir-predicts-a-rally-6186.html <![CDATA[News - Jubilee Platinum's revenues and earnings rise with chromite output ]]> http://www.proactiveinvestors.co.uk/companies/news/165931/jubilee-platinum-s-revenues-and-earnings-rise-with-chromite-output-165931.html Jubilee Platinum lifted earnings and revenues from its tailings operations in South Africa as chromite production at the Dilokong mine picked up.

Some 8% more chromite concentrate was produced in August at 10,430 tons compared to the previous month.

Jubilee (LON:JLP) expects production at Dilokong to increase further over the next three months as it expands the surface area of its operation.

Revenue rose 7% to £0.74mln in August compared to July with attributable earnings also up 7% to £314,000.

Jubilee has two projects in South Africa, one at Dilokong (DCM) and the other at Hernic's ferrochrome mine where a 660,000 tons per annum platinum and chromite processing plant is scheduled to be commissioned in December.

The aim at both tailings sites is to produce platinum eventually.

Leon Coetzer, chief executive, said: “The DCM Project continues to achieve exceptional performance both in terms of revenue and earnings from chromite concentrate sales as well as operational performance.

"I am very pleased with the progress made on the construction of the Hernic project which remains on schedule and in budget," he added.

 

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Thu, 15 Sep 2016 07:57:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/165931/jubilee-platinum-s-revenues-and-earnings-rise-with-chromite-output-165931.html
<![CDATA[RNS press release - Platinum Projects update ]]> http://www.proactiveinvestors.co.uk/companies/rns/160915jlp8796j/ Thu, 15 Sep 2016 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160915jlp8796j/ <![CDATA[News - Jubilee Platinum’s cash generation takes off as chromite sales climb ]]> http://www.proactiveinvestors.co.uk/companies/news/129472/jubilee-platinums-cash-generation-takes-off-as-chromite-sales-climb-129472.html Jubilee Platinum PLC (LON:JLP) saw revenues from chromite sales more than double in the third quarter, while it  also moved closer to another acquisition.

The increased revenues came from the group's Dilokong Chrome mine tailings project in South Africa.

Chromite concentrate output was up around 88% compared with the preceding quarter to 28,559 tons, which led to revenues of £2.09mln.

Earnings attributable to the firm rose 95% against the second quarter to £0.89mln.

Leon Coetzer, chief executive, said: "The operating results are very satisfactory and show increasing performance quarter on quarter which is reflected in our financial performance."

He added that Jubilee continued to pursue projects in a bid to increase its cash flow.

"We are confident that we will shortly conclude a further acquisition with discussions progressing favourably in other areas of acquisition and joint venture."

Meanwhile, construction of the 660,000 tons a year platinum and chromite processing plant for tailings from Hernic’s ferrochrome operation continues to progress on schedule.

Jubilee comes a long way

The bullish update highlights how far Jubilee has progressed over the years.

Time was not too long ago that its fortunes were tied solely to the Tjate platinum project in the South African Bushveld – a good looking property with a healthy resource, but deep.

The thinking was that one of the major players in the Bushveld would eventually mine close enough to want to take it out.

It was a sound enough idea, but didn’t take into account the five year-plus bear market in platinum prices that got underway towards the end of the last decade.

But Jubilee is run by seasoned entrepreneurs.

Chairman Colin Bird cut the deal that brought the chief executive Leon Coetzer on the acquisition of a specialist platinum group metals and chrome processing business back in 2009.

The idea at the time was to create a mine-to-market platinum junior working along the same lines as the majors and cutting out the need for refining, smelting and processing charges at any level.

Later on, the company took a further step towards realising this strategy when it acquired a smelter at Middelburg.

Markets remained tough though, and there came a need for the company to cut its cloth accordingly.

Middelburg was sold, the aspiration for Jubilee to mine on its own account set aside while poor platinum prices prevailed and the full focus went towards securing cashflow.

To that end, the company signed processing agreements over the tailings dumps at ASA Metals’ Dilokong chrome mine back in 2014 and set about developing a plan to commercialise them.

The share price, at the current 3.77p is now more than double where it was since before Dilokong was acquired.

Hernic bigger than Dilokong

The Hernic project, an operation designed and planned on similar lines to the one at Dilokong, will be another source of cashflow.

Hernic Ferrochrome is the world’s 4th largest ferrochrome producer and as such has built up considerable waste and tailings over the years.

Jubilee has already spent £6.2 mln on constructing a facility that will be able to  process 55,000 tonnes per month, taking total processing capacity up to around 900,000 tonnes per year.

Commissioning is expected in December this year and looks set to be a major dial shifter for the former miner.

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Mon, 29 Aug 2016 09:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/129472/jubilee-platinums-cash-generation-takes-off-as-chromite-sales-climb-129472.html
<![CDATA[RNS press release - Jubilee Live Interactive Webcast ]]> http://www.proactiveinvestors.co.uk/companies/rns/160819jlp6891h/ Fri, 19 Aug 2016 12:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160819jlp6891h/ <![CDATA[Media files - Jubilee Platinum PLC boss "very delighted" with Dilokong project progress ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/5417/jubilee-platinum-plc-boss-very-delighted-with-dilokong-project-progress-5417.html Thu, 18 Aug 2016 15:08:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/5417/jubilee-platinum-plc-boss-very-delighted-with-dilokong-project-progress-5417.html <![CDATA[News - Jubilee Platinum encouraged by operational improvements at Dilokong ]]> http://www.proactiveinvestors.co.uk/companies/news/129449/jubilee-platinum-encouraged-by-operational-improvements-at-dilokong-129449.html Chromite concentrate production at the Dilokong chrome mine (DCM) project has continued to exceed expectations, Jubilee Platinum PLC (LON:JLP) revealed.

Production climbed to 9,670 tons in July, which was up 29% month-on-month, while project revenue from the sale of concentrate was 33% higher than in June at £692,000. July’s earnings were 46% higher than in June at £520,000.

The DCM project is run by Jubilee’s subsidiary, the Jubilee Tailings Treatment Company; Jubilee said earnings attributable to the parent company from the DCM project in July clocked in at £293,000, up 30% from June.

The DCM Project has continued to outperform the original design numbers both in terms of revenue and earnings from chromite concentrate sales as well as operational performance. The month of July saw further improvements in operational performance that more than offset the slight drop in the saleable value per ton of chromite produced.

Jubilee said its subsidiary is only processing current surface material at DCM at the moment and has not commenced processing of third party, which would offer the potential to significantly enhance the operational performance numbers.

Enriched platinum material, which is produced by recovering chromite from the surface material and skimming off low-value waste, continues to be stockpiled at DCM pending the outcome of the platinum processing option study. The option study focuses on toll processing as an alternative to the company building its own platinum plant at DCM, and will be concluded shortly, Jubilee revealed. If the option study proves successful there will be no need to build a dedicated platinum plant and platinum revenues will be received at least one year earlier.

Meanwhile, construction work on the Hernic platinum group metals-bearing chrome tailings project is in full swing. Leon Coetzer, chief executive of Jubilee, said construction of the project was on schedule and on budget.

The project will be the largest platinum group metals beneficiation plant of surface chrome tailings in South Africa and is capable of producing annual revenues of £18.2mln at an average metal basket price of US$906 per ounce.

"Increased production month to month is very encouraging for the company and endorses previous decisions to focus on chrome and platinum. The enriched platinum material stock pile continues to grow and we are progressing options to turn stockpile to cash,” Coetzer told investors.

The company said it had run into a snag with the release of money held in escrow relating to the sale of assets to Siyanda Resources Proprietary.

Jubilee had expected to receive the money – about £510,000 – by now, but release has been delayed by what Jubilee termed “an unsubstantiated warranty claim” by the purchaser of the assets.

Jubilee has refuted the legitimacy of the claim and told shareholders it will take all necessary steps to ensure the release of the money from escrow.

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Thu, 18 Aug 2016 07:45:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/129449/jubilee-platinum-encouraged-by-operational-improvements-at-dilokong-129449.html
<![CDATA[RNS press release - Platinum Projects update ]]> http://www.proactiveinvestors.co.uk/companies/rns/160818jlp4855h/ Thu, 18 Aug 2016 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160818jlp4855h/ <![CDATA[Media files - Jubilee Platinum chief says revenues at Hernic take project to next level ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/5267/jubilee-platinum-chief-says-revenues-at-hernic-take-project-to-next-level-5267.html Mon, 11 Jul 2016 15:58:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/5267/jubilee-platinum-chief-says-revenues-at-hernic-take-project-to-next-level-5267.html <![CDATA[News - Jubilee Platinum shares gain ground as Dilokong project outperforms ]]> http://www.proactiveinvestors.co.uk/companies/news/128050/jubilee-platinum-shares-gain-ground-as-dilokong-project-outperforms-128050.html Shares in Jubilee Platinum PLC (LON:JLP) advanced in early deals as it revealed a doubling of chrome concentrate production from its Dilokong tailings project (DCM) in the latest half year.

Output for the six months to end June came in at 15,188 tons, compared to 7, 480 tons for the same period in 2015.

Meanwhile, revenue generated from sales came in at  ZAR19.1 million (£1 million), the firm said, adding that progress at the Hernic PGM project- also in South Africa - was progressing on schedule.

Commissioning of what will be the world's largest platinum recovery plant from chrome tailings is earmarked to begin in December this year.

Jubilee added it was also in final discussions on potentially using a third  party processer for Dilokong, which could further enhance the project.

Jubilee chief executive Leon Coetzer told investors: "The DCM project has outperformed the original design numbers both in terms of revenue, earnings from chromite concentrate sales and better than designed operational performance. 

"To date early project revenue has been generated from the sales of chromite concentrate. 

"The enrichment of the platinum material which is produced by recovering chromite from the surface material and rejecting waste has exceeded our projections due to a better than expected chromite yield from the DCM project, without compromising the PGM metal recovery to the platinum material."

It added it was considering toll processing as an alternative to building its own plant and was currently considering offers.

"In the meantime we continue to increase our revenues from chrome production and source third party feed input."

In-Depth - Jubilee Platinum lauds progress at tailings projects

Jubilee shares added 5.56% to 3.325p.

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Mon, 11 Jul 2016 09:12:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/128050/jubilee-platinum-shares-gain-ground-as-dilokong-project-outperforms-128050.html
<![CDATA[RNS press release - Platinum Projects Quarterly Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/160711jlp7467d/ Mon, 11 Jul 2016 08:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160711jlp7467d/ <![CDATA[News - Jubilee’s Dilokong mine continuing to ‘outperform’ ]]> http://www.proactiveinvestors.co.uk/companies/news/126841/jubilees-dilokong-mine-continuing-to-outperform-126841.html Jubilee Platinum PLC’s (LON:JLP) Dilokong chrome tailings processor is continuing to “outperform original design numbers” as it  enters a second full month of operation.

May marked the first full month of operations, with the feed rate capacity reaching 75 tonnes per hour (tph), 50% higher than the original design capacity.

The project generated £427,000 of revenue from chromite concentrate sales to the end of May.

Once the chrome business is established, Jubilee intends to start processing for platinum.

“The project continues to exceed the enrichment targets for platinum,” said chief executive Leon Coetzer.

Coetzer also noted how the project was “drawing the interest” of a number of platinum producers looking to accelerate the production of a saleable platinum product.

Jubilee insisted that the positive start and “exponential growth potential” justified its decision to sell its interest in the ferro-alloy smelting operation and invest in the processing of platinum and chrome.

Shares were down 0.08p, or 2.4%, to 3.27p.

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Tue, 07 Jun 2016 16:04:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/126841/jubilees-dilokong-mine-continuing-to-outperform-126841.html