Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Jubilee Platinum brings in £600,000 to keep momentum up

Jubilee Platinum brings in £600,000 to keep momentum up
The design phase, as reported in February, has been executed and principal engineering firms have been appointed

Jubilee Platinum (LON:JLP) shares nudged higher after it brought in £600,000 via a placing to maintain momentum on its development projects.

Notably, the firm's platinum surface projects are targeting an estimated 4.4 million tons of platinum containing surface material and it wants to build two chrome and platinum group metals (PGM's) processing plants to process the material at a combined rate of 80 000 tons per month.

The design phase, as reported in February, has been executed and principal engineering firms have been appointed.

Leon Coetzer, chief executive, said: ''I am delighted with the progress made on our platinum surface processing projects and I am looking forward to the execution phase ahead and delivering the company's transformational projects."

The fundraise saw the group issue 37.5mln shares at 1.60p each to raise around 600, 000 (RAND 11.1mln) at current conversion rates.

Shares added 1.41% to stand at 1.80p.

View full JLP profile View Profile

Jubilee Metals Group Timeline

Related Articles

July 28 2018
Jaxon said the first phase of fieldwork included geological mapping and sampling the Red Spring area, located within the Hazelton Property.
August 08 2018
Eurasia Mining has an enviable position in Russia platinum and platinum group metals

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 Investors 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