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

The project is now processing 1,900 tonnes each day of chrome and platinum containing feed material
Approximately 420 ounces of PGM have been delivered to the refinery so far

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.

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