Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
9 November 2016
Jubilee Platinum PLC
("Jubilee" or "Company")
Braemore Tailings Project
Mine-to-Metals specialist Jubilee Platinum plc (AIM: JLP, AltX: JBL) announces that in relation to Jubilee's subsidiary, Braemore Nickel (Pty) Ltd's ("Braemore"), Braemore has received from BHP Billiton (Pty) Ltd ("BHP") a notice of termination of the Tailings Supply Agreement dating back to 2005 relating to the Leinster Nickel Operations in Western Australia. Braemore has informed BHP that it rejects the termination notice since it believes no factual or legal basis exists for such termination. Braemore has been continuing with the internal review of the nickel tailings project with the aim of improving the viability of the project as part of the economic evaluation of the project.
This nickel tailings project does not form part of Jubilee's earnings nor has any influence on the execution of Jubilee's platinum and chrome projects. Jubilee continues to pursue further tailings opportunities to add to its existing platinum and chrome projects and looks forward to updating the market in due course.
Jubilee, through its tailings processing subsidiaries continues successfully to develop and implement innovative processing solutions for the recovery of metals and minerals from various tailings materials. These innovations and progress offer significant opportunities across the tailings recovery spectrum.
Further announcements regarding Braemore will be made as and when appropriate.
Jubilee Platinum plc
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Tel +44 (0)1752 221937
Sasfin Capital, a division of Sasfin Bank Limited
Tel +27 (0)11 809 7500
SPARK Advisory Partners Limited
Sean Wyndham-Quin/Mark Brady
Tel: +44 (0)203 368 3555
Beaufort Securities Limited
Tel: +44 (0) 20 7382 8300
This information is provided by RNS