Braemore Tailings Project

RNS Number : 7594O

Jubilee Platinum PLC

09 November 2016

 

Registration number (4459850)

AltX share code: JBL

AIM share code: JLP

ISIN: GB0031852162

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.

Contacts

Jubilee Platinum plc

Colin Bird/Leon Coetzer
Tel [phone] / Tel [phone]
Andrew Sarosi
Tel [phone]

JSE Sponsor

Sasfin Capital, a division of Sasfin Bank Limited
Sharon Owens
Tel [phone]

Nominated Adviser

SPARK Advisory Partners Limited
Sean Wyndham-Quin/Mark Brady
Tel: [phone]

Broker

Beaufort Securities Limited
Jon Belliss
Tel: [phone]

 

END

 

 

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