Proactive Investors - Run By Investors For Investors

Jubilee Platinum soars after milestone development at Tjate

"We are pleased that the Tjate Platinum Project has received the mining right," said CEO Leon Coetzer
Tjate platinum project
The Tjate project is situated in the Magisterial District of Sekhukhune in the Limpopo Province

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.

View full JLP profile View Profile

Jubilee Platinum PLC Timeline

Related Articles

March 02 2017
Jubilee Platinum is bringing a new project on stream at Hernic, and this will add to an already impressive cash generative chrome portfolio
Elementos: Access latest PPT from Proactive's CEO Sessions
July 27 2017
Chris Dunks discussed tin production timeline at Proactive's CEO Sessions.
June 15 2017
Eurasia Mining is making significant progress with its Russian platinum projects

© Proactive Investors 2017

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