Operations Update

RNS Number : 8465O

Jubilee Platinum PLC

17 October 2012

 



AIM: JLP

JSE: JBL

Registration number: 4459850

ISIN GB0031852162

17 October 2012

Jubilee Platinum PLC

("Jubilee" or the "Company")

Operations Update

Jubilee, the AIM and JSE quoted mine-to-metal specialist, is pleased to announce that further to the release dated 27 September 2012, Power Alt (Pty) Ltd ("Power Alt") has now received approval from the National Energy Regulator of South Africa (NERSA) for the sale of electricity to South Africa's national power generating company to commence. Sales of electricity are expected to commence on 26 October 2012.

Jubilee currently has a 51% interest in power generating company Power Alt and as previously announced has entered into a process of acquiring an additional 19% interest in Power Alt.

Leon Coetzer, CEO of Jubilee Platinum, commented: "Our exposure to the profitable sale of surplus power by Power Alt increases the Company's earnings potential and profitability. We are focused on growing cash flows and this is another important step, helping to underpin our growth potential."

Contacts

Jubilee Platinum plc                          

Colin Bird/Leon Coetzer                  

Tel [phone] / Tel [phone]

Andrew Sarosi         

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

Tel [phone]

Bishopsgate Communications Ltd

Nick Rome/Anna Michniewicz/Ivana Petkova

Tel [phone]

 

END

 

 

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