Jubilee Platinum PLC’s (LON:JLP) Dilokong chrome tailings processor is continuing to “outperform original design numbers” as it enters a second full month of operation.
May marked the first full month of operations, with the feed rate capacity reaching 75 tonnes per hour (tph), 50% higher than the original design capacity.
The project generated £427,000 of revenue from chromite concentrate sales to the end of May.
Once the chrome business is established, Jubilee intends to start processing for platinum.
“The project continues to exceed the enrichment targets for platinum,” said chief executive Leon Coetzer.
Coetzer also noted how the project was “drawing the interest” of a number of platinum producers looking to accelerate the production of a saleable platinum product.
Jubilee insisted that the positive start and “exponential growth potential” justified its decision to sell its interest in the ferro-alloy smelting operation and invest in the processing of platinum and chrome.
Shares were down 0.08p, or 2.4%, to 3.27p.