Proactiveinvestors RSS feed en Wed, 18 Oct 2017 23:28:05 +0100 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Jubilee Platinum assures shareholders its "business as usual" at Hernic operations in South Africa despite operator issues ]]> Jubilee Platinum PLC (LON:JLP) has moved to assure shareholders that news of the voluntary business rescue of Hernic Ferrochrome Proprietary Limited to facilitate a restructuring of some its business activities has “no current effect” on Jubilee's operations at Hernic in South Africa.

In a statement, Leon Coetzer, Jubilee Platinum’s chief executive officer, said: "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.”

READ: Jubilee shines as it confirms Hernic is operating at full production rate

He added: “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. 

Coetzer concluded: “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. "

Thu, 28 Sep 2017 08:54:00 +0100
<![CDATA[RNS press release - Hernic Update ]]> Thu, 28 Sep 2017 07:00:04 +0100 <![CDATA[RNS press release - Jubilee Live Interactive Webcast - replacement ]]> Thu, 07 Sep 2017 13:01:06 +0100 <![CDATA[RNS press release - Jubilee Live Interactive Webcast ]]> Thu, 07 Sep 2017 10:15:31 +0100 <![CDATA[News - New deal at Dilokong boosts metals production for Jubilee Platinum ]]> Jubilee Platinum PLC (LON:JLP) has signed a new partnership agreement with Dilokong Chrome Mines for the processing of ore from the Dilokong projects in South Africa.

Jubilee has already reaped substantial rewards from its existing partnership with Dilokong, under the terms of which it processes chromite tailings ore to recover separately chrome and the platinum group elements.

But now its exposure to the upside at Dilokong has been substantially increased as it will enjoy 50% of all chrome benefits from any ore source at the DCM project, not just the tailings.

The agreement secures and extends Jubilee’s sole rights to all PGMs from material at Diloking, irrespective of source. And will provide Jubilee with up to 40,000 tonnes per month of additional ore for an initial 3 year period.

This will more than double the existing operational throughput of the DCM chrome recovery plant and will provide Jubilee with significant additional earnings since the fixed cost remains the same.




Tue, 05 Sep 2017 13:20:00 +0100
<![CDATA[RNS press release - New Partnership Agreement, 3rd Party Ore Agreement ]]> Tue, 05 Sep 2017 12:30:01 +0100 <![CDATA[News - Jubilee Platinum executes US$50mln project funding ]]> Jubilee Platinum PLC (LON:JLP) told investors that it has executed a US$50mln project funding agreement to support its metals recovery business.

The company highlighted that the deal is structured at project level to minimise dilution and enhance shareholder value.

Pre-approved debt funding is being injected at project level directly, by investment group RiverFort Capital Group. The funding commitment is for an initial 33-month period.

READ: Jubilee Platinum well on track at South African platinum and chrome projects

“The execution of the funding provision is a key enabler towards unlocking a significant portion of the very large global potential that exists in the reprocessing of surface materials,” said Leon Coetzer, Jubilee chief executive.

“The metals contained in these various surface stocks have no mining costs attached to their recovery and offer the potential of significant return on investment.”

He added: “The key to unlocking this potential, is the combination of our specialists' team with our historical expertise in metals extraction technology.

“This enables us to implement suitable mineral and metal extraction solutions through the use of state-of-the-art, environmentally friendly and sustainable technologies, for which Jubilee Processing is renowned.”

Coetzer highlighted that Jubilee has identified a significant pipeline of these resources with cash generative potential, and the company is carefully ranking these projects to pursue them in the short term.

Wed, 09 Aug 2017 08:48:00 +0100
<![CDATA[RNS press release - US$50m project funding agreement executed ]]> Wed, 09 Aug 2017 07:11:03 +0100 <![CDATA[News - Jubilee Platinum well on track at South African platinum and chrome projects ]]> Jubilee Platinum PLC (LON:JLP) achieved design throughput at its Hernic operation in June 2017, leading on to positive earnings in July 2017.

As it stands the company’s Hernic project has produced 1,697 ounces of platinum group metals.

Meanwhile, at the Dilokong chrome mine, operational earnings attributable to Jubilee of £390,000 during the quarter come as chromite concentrate production rose by 18% to 17,659 tonnes. 

READ: Jubilee shines as it confirms Hernic is operating at full production rate

"The Hernic operation has progressed from commissioning to a fully operational business unit and has demonstrated its capability of achieving the expected design parameters,” said Jubilee chief executive Leon Coetzer.

He added that production numbers for July at Hernic are already similar to the total PGM production for the year, highlighting the rate of the ramp up.

“With commissioning concluded we continue to strive for operational excellence through continued optimisation of operational efficiencies.”

And he hinted there might be further deals on the horizon.

“We are currently reviewing a number of business opportunities both in South Africa and abroad. A number of these opportunities offer the potential to continue the Company's transformation process."



Mon, 31 Jul 2017 13:25:00 +0100
<![CDATA[RNS press release - Platinum Projects Quarterly Update - Q2 2017 ]]> Mon, 31 Jul 2017 11:52:33 +0100 <![CDATA[RNS press release - Director Dealing ]]> Thu, 22 Jun 2017 15:00:02 +0100 <![CDATA[News - Jubilee shines as it confirms Hernic is operating at full production rate ]]> Shares in Jubilee Platinum PLC (LON:JLP) soared on Thursday afternoon after the chrome and platinum producer confirmed that its Hernic project is operating at full production rate.

The tailings project in South Africa is now processing 1,900 tonnes each day of chrome and platinum containing feed material, which equates to around 55,000 tonnes per month.

Jubilee added that platinum group metals (PGM) production continues to ramp up in line with the increased production capacity. Approximately 420 ounces of PGM have been delivered to the refinery so far.

“I am very pleased to announce that Hernic is up to full operational status. I now look forward to Jubilee receiving the financial benefits that this project will undoubtedly deliver,” said chief executive Leon Coetzer.

“We are actively pursuing further opportunities in platinum and base metal processing and will keep the market updated on progress made in this regard.”

Shares gained 8.2% to 4.5p late on Thursday.

Thu, 15 Jun 2017 15:06:00 +0100
<![CDATA[RNS press release - Hernic Project Reaches Full Production ]]> Thu, 15 Jun 2017 13:30:01 +0100 <![CDATA[News - Jubilee Platinum shares surge as it completes Hernic project ]]> News that Jubilee Platinum PLC (LON:JLP) had completed its Hernic platinum and chrome project in South Africa sent shares in the AIM firm surging over 10%.

Hydraulic re-mining of the feed material has  now begun and the group is targeting full design capacity in early June (next month).

The project produced its first platinum concentrate in March but full design capacity is 45,000 tonnes of material feed.

The fourth largest integrated ferrochrome producer

Hernic is the world's 4th largest integrated ferrochrome producer with an estimated 3mln tonnes of platinum containing material at surface.

Jubilee will beneficiate the chromite and PGMs (platinum group metals) contained within from the largest  plant of surface chrome tailings in South Africa.

It is capable of producing annual revenues of £18.2 million at an average metal basket price of US$906 per ounce.

Second stage now complete...

The project was to be completed in four phases over 11 months and the second stage is now complete.

Phase three is the ramp up to design capacity of 55 000 tonnes per month, while phase four is the plant's stable operation.

Leon Coetzer, Chief Executive, said: "I am pleased that we have successfully completed our Hernic platinum and chrome project.  We are now looking forward to delivering the targeted production and financial numbers of this project. Platinum concentrate sales are ramping up with the first 100 tonnes of platinum concentrate delivered to the 3rd party purchaser.  We are confident to reach full production in early June 2017."

Jubilee shares rose 10.49% to 4.475p.

Fri, 19 May 2017 15:08:00 +0100
<![CDATA[RNS press release - Hernic Project Ramping-Up and Live Webcast ]]> Fri, 19 May 2017 10:30:03 +0100 <![CDATA[News - Hernic project to reach full design capacity by June, says Jubilee Platinum ]]> Jubilee Platinum PLC (LON:JLP) has told investors it is continuing to successfully ramp-up production at the Hernic platinum and chrome tailings operation in South Africa.

AIM-quoted Jubilee said the project – which produced its first platinum concentrate in March – is on track to reach full design capacity of 45,000 tonnes of material feed a month during June.

That will happen once the hydraulic-mining process to reclaim feed material from the surface platinum stocks is completed, which should be by the end of next week.

The metals explorer said it is targeting a steady state production of 1,100 tonnes of platinum concentrate a month containing 100 grams per tonne (g/t) of platinum group metals (platinum, palladium, rhodium and gold).

That last figure is already being achieved and is 20% ahead of the contracted grade.

CEO Coetzer “pleased” with progress at Hernic

“I am particularly gratified with the way our team tackled the Hernic project, which was delivered on time and budget,” said chief executive Leon Coetzer.

“The commissioning and ramp-up of the Hernic chromite and platinum recovery plant has shown great progress reaching 74% of designed throughput.

“We look forward to ramping up production to full capacity over the coming weeks as we bring on-line the final processing unit which is the hydraulic mining of the feed material.

“Already the platinum and chrome processing plants have met the commercial specifications for both the platinum and chrome concentrates produced.”

Dilokong earnings rise in first quarter

Elsewhere, production rates have returned to normal at the Dilokong chrome mine following the commissioning of the expanded tailings storage facility for the enriched platinum material.

Chromite concentrate production revved up again towards the end of the first quarter, coming in at 14,973 tonnes.

Earnings attributable to Jubilee for the three months ended March 2017 from Dilokong jumped more than 10% quarter-on-quarter to just shy of £0.41mln.

Due diligence almost finished in Australia

Back in March, Jubilee revealed it was planning on broaden the range of metals it processes with the addition of a surface copper tailings project in Australia.

The proposed deal is subject to satisfactory due diligence, which the company said has now almost finished.

It has asked for an extension until the end of this month to complete its homework.

Assuming everything goes smoothly as expected, Jubilee expects a bulk sample trial to get underway at some point in July.

Shares dipped 1% to trade at 4.44p shortly after midday on Tuesday.

--Updates for share price--

Tue, 09 May 2017 11:53:00 +0100
<![CDATA[RNS press release - Market Update ]]> Tue, 09 May 2017 09:00:02 +0100 <![CDATA[Media files - Jubilee Platinum 'accelerating investment into projects' says CEO Leon Coetzer ]]> Mon, 03 Apr 2017 06:12:00 +0100 <![CDATA[RNS press release - Interim Results - replacement ]]> Thu, 30 Mar 2017 15:18:05 +0100 <![CDATA[News - Jubilee Platinum slashes losses as tailings operations ramp up ]]> 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.

Thu, 30 Mar 2017 14:54:00 +0100
<![CDATA[RNS press release - Interim Results ]]> Thu, 30 Mar 2017 12:15:03 +0100 <![CDATA[RNS press release - Jubilee commences platinum production ]]> Wed, 29 Mar 2017 14:15:04 +0100 <![CDATA[News - Jubilee Platinum nails third tailings deal in a week ]]> 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.

Fri, 17 Mar 2017 07:55:00 +0000
<![CDATA[RNS press release - Execution of Platinum Tailings Agreement ]]> Fri, 17 Mar 2017 07:00:08 +0000 <![CDATA[News - Jubilee Platinum sources more chrome tailings for Dilokong plant ]]> 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.

Tue, 14 Mar 2017 15:51:00 +0000
<![CDATA[RNS press release - Final proceeds from Middelburg and DCM update ]]> Tue, 14 Mar 2017 13:15:02 +0000 <![CDATA[Media files - Copper tailings project excites on a number of fronts, says Jubilee Platinum boss ]]> Thu, 09 Mar 2017 13:31:00 +0000 <![CDATA[News - Jubilee Platinum moves into copper through Aussie tailings deal ]]> 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."

Thu, 09 Mar 2017 08:02:00 +0000
<![CDATA[RNS press release - Jubilee Executes Surface Tailings Transaction ]]> Thu, 09 Mar 2017 07:00:08 +0000 <![CDATA[News - Production at Jubilee Platinum’s Dilokong project back on track ]]> 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.

Mon, 06 Mar 2017 12:05:00 +0000
<![CDATA[RNS press release - DCM Operations update and Exercise of warrants ]]> Mon, 06 Mar 2017 09:45:05 +0000 <![CDATA[News - Jubilee Platinum soars after milestone development at Tjate ]]> 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.

Thu, 02 Mar 2017 09:08:00 +0000
<![CDATA[RNS press release - Tjate Executes Mining Right ]]> Thu, 02 Mar 2017 08:30:04 +0000 <![CDATA[RNS press release - Exercise of last warrants at specific issue price ]]> Tue, 21 Feb 2017 15:15:03 +0000 <![CDATA[RNS press release - Exercise of Last Warrants at Specific Issue Price ]]> Wed, 15 Feb 2017 15:31:02 +0000 <![CDATA[RNS press release - Exercise of Warrants ]]> Mon, 13 Feb 2017 11:45:03 +0000 <![CDATA[RNS press release - Exercise of Warrants ]]> Wed, 08 Feb 2017 08:45:03 +0000 <![CDATA[News - Jubilee Platinum starts production at second tailings plant ]]> 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.



Mon, 06 Feb 2017 16:04:00 +0000
<![CDATA[RNS press release - Hernic Project in Production ]]> Mon, 06 Feb 2017 14:45:03 +0000 <![CDATA[RNS press release - Exercise of Warrants ]]> Fri, 03 Feb 2017 09:30:03 +0000 <![CDATA[News - Jubilee Platinum’s transformation into chrome-producing cash cow continues ]]> 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.

Wed, 01 Feb 2017 11:43:00 +0000
<![CDATA[News - Jubilee Platinum ready to go with second tailings plant ]]> 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. 

Mon, 30 Jan 2017 12:13:00 +0000
<![CDATA[RNS press release - Results of AGM and Change of Registered Office ]]> Tue, 06 Dec 2016 13:31:45 +0000 <![CDATA[RNS press release - Jubilee Live Interactive Webcast ]]> Mon, 28 Nov 2016 13:15:02 +0000 <![CDATA[RNS press release - Audited results for the year ended 30 June 2016 ]]> Mon, 14 Nov 2016 08:00:30 +0000 <![CDATA[News - Jubilee Platinum results reveal Dilokong progress ]]> 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.


Mon, 14 Nov 2016 06:38:00 +0000
<![CDATA[RNS press release - Exercise of Warrants & Dealing in Securities ]]> Fri, 11 Nov 2016 13:15:10 +0000 <![CDATA[News - Jubilee Platinum rejects termination notice from BHP Billiton ]]> 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.

Wed, 09 Nov 2016 14:22:00 +0000
<![CDATA[RNS press release - Braemore Tailings Project ]]> Wed, 09 Nov 2016 12:30:02 +0000 <![CDATA[News - Jubilee Platinum shares higher as chromite production continues to grow ]]> 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.

Fri, 21 Oct 2016 10:34:00 +0100