Jubilee executes farm-in agreement with IPR

RNS Number : 7008K

Jubilee Platinum PLC

24 August 2012

 



AIM: JLP

JSE: JBL

Registration number: 4459850

ISIN GB0031852162                                                                                           24 August 2012

Jubilee Platinum PLC

("Jubilee" or the "Company")

JUBILEE PLATINUM EXECUTES FARM-IN-AGREEMENT WITH INDIAN PACIFIC RESOURCES ON THE IRON ORE OPPORTUNITY IN THE AMBODILAFA TENEMENT AREA IN MADAGASCAR

Jubilee Platinum, the AIM listed and JSE quoted mine-to-metal specialist, is pleased to announce that the Company has executed the formal Farm-In-Agreement, following the Heads of Agreement ("HoA") announced on 9 July 2012, with Indian Pacific Resources Limited ("IPR"). IPR is to farm-in up to a 90% interest in all commodities other than platinum group metals, metals traded on the London Metals Exchange and chrome in Jubilee's Ambodilafa tenement area, Madagascar. The key terms and conditions are unchanged from those contained in the HoA announcement on 9 July 2012.

Leon Coetzer, CEO of Jubilee commented: "This agreement provides Jubilee the opportunity to continue to develop its Ambodilafa asset and the iron ore opportunity with no initial outlay and to have the option to follow an earn-in position on establishing asset value. "  

For further information, please contact:

Jubilee Platinum plc                          

Colin Bird/Leon Coetzer/Andrew Sarosi         

Tel [phone] / Tel [phone]

finnCap Ltd

Matthew Robinson/ Ben Thompson - corporate finance

Joanna Weaving - corporate broking

Tel [phone]

Shore Capital Stockbrokers Limited (Joint Broker)

Jerry Keen/ Edward Mansfield

Tel: [phone]

Sasfin Capital

Leonard Eiser /Sharon Owens

Bishopsgate Communications

Nick Rome/Anna Michniewicz/ Ivana Petkova                               

Tel: [phone]

 

END

 

 

AGRSEIFIDFESEIA