Proactive Investors - Run By Investors For Investors

Jubilee Platinum PLC ties up finance for platinum tailings developments

The US$17.5mln package comprises up to US$15mln of senior and unsecured debt and US$2.5mln of equity finance
Jubilee Platinum PLC ties up finance for platinum tailings developments
Construction of both processing plants is now funded

Jubilee Platinum (LON:JLP) has agreed funding for both of its platinum tailings projects in South Africa.

The US$17.5mln package comprises up to US$15mln of senior and unsecured debt and US$2.5mln of equity finance from a placing at 2.8p per share.

Jubilee has rights to the tailings from two chromite mines in South Africa and when both process plants are running expects to be processing 80,000 tonnes of ore each month to recover 33,000 ounces of platinum group metals per year.  

The chromite recovery section of the first plant, 25,000 tonnes per month, is already up and running, while the long lead items for the second plant have now been bought, Jubilee said.

RiverFort Capital arranged the debt, which is being advanced in stages with US$3mln and a possible further US$2mln initially.

Leon Coetzer, chief executive, said:The project funding structure combines both debt and equity, recognizing the future profitability of the projects while securing funding to pursue further such surface or near surface platinum opportunities.

“The successful funding demonstrates the confidence of investors in Jubilee's robust business model."

View full JLP profile View Profile

Jubilee Metals Group Timeline

February 07 2018
February 07 2018
February 06 2018
February 01 2018
January 30 2018
January 29 2018

Related Articles

Elementos: Access latest PPT from Proactive's CEO Sessions
July 27 2017
Chris Dunks discussed tin production timeline at Proactive's CEO Sessions.
November 07 2017
Work is currently testing a large 2-D anomaly at the southeastern edge of the target called the Hamblin zone.
January 16 2018
The company has kicked off the new year with a new name

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use