Jubilee Platinum (LON:JLP) has struck a new agreement, which will see it speed up the commissioning of its ASA tailings dam processing facility and gain earlier cash flows.
Last year, Jubilee secured a contract to process material at a tailings dam at ASA Metal’s Dilokong chrome mine.
A deal has been struck whereby if Jubilee accelerates the construction of the facility to target commissioning of the chrome beneficiation section by the end of January next year, it will be paid up to 25% more for every ton of chrome concentrate produced.
Jubilee reckons it will be able to commission the chrome beneficiation portion of the processing plant five months earlier than expected - meeting the target and gaining earlier than planned cash flows from the its first platinum surface tailings project.
As well as the deal with ASA Metal’s Dilokong chrome mine, the firm also has a deal with the fourth largest ferrochrome producer in the world - Hernic.
Jubilee shares added 3.57% to 3.635p.