The South African project produced 1,346 ounces of PGM in August which had been sold to a third party refinery
PLC’s () Windsor platinum group metals (PGM) project in South Africa is now fully operational.
The miner said on Thursday that the project had produced 1,346 ounces of PGM in August, its first operational month, which had then been sold to a third party refinery.
Looking ahead, Jubilee said it was targeting production of 2,200 saleable ounces of PGM for September, adding that “positive price movements” for the metals were further increasing the economics of the project.
Leon Coetzer, Jubilee’s chief executive, hailed the “significant milestone” for the project, adding that Windsor could potentially double its existing PGM production without any capital burden or time delay, delivering “enhanced earnings”.
In lunchtime trading, the shares jumped 5% to 2.94p.
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