Tailings Projects Further Update

RNS Number : 6823W

Jubilee Platinum PLC

28 April 2016

 

Jubilee Platinum PLC

Registration number: 4459850

AltX share code: JBL

AIM share code: JLP

ISIN: GB0031852162

("Jubilee" or the "Company")

28 April 2016

Tailings Projects Further Update

The Company is pleased to announce the achievement of key milestones at its chrome processing operation at the Dilokong Chrome Mine ("ASA project").   As previously announced Jubilee has secured access to an additional 50 000 tonnes per month ("tpm")  processing capability at the ASA project,  thereby increasing  its overall  processing potential  at ASA to 75 000 tpm. The additional processing capacity provides scope for importation of third party material, which should enhance overall financial results. 

Highlights

·     The ASA project exceeds design process throughput of chrome tailings

·     The ASA project is currently processing feed at 60 tonnes per hour ("tph")_, which significantly exceeds design capacity of 44 tph

·     Chrome saleable concentrate in excess of 1 000 tonnes is ready for shipment

·     Shareholders will be provided with operating and financial reports, following the first quarter of production

Leon Coetzer, CEO said:  "I am very pleased with the commissioning and ramp up of our ASA tailings project.  The increased throughput reflects the experience and training of our project and operational team and I look forward to even more increases. I appreciate that shareholders are eager to receive news on impact on financial performance and expect to give full details after our first quarter of full production."

Contacts

Jubilee Platinum plc

Colin Bird/Leon Coetzer

Tel [phone] / Tel [phone]

Andrew Sarosi

Tel [phone]

Nominated Adviser

SPARK Advisory Partners Limited

Sean Wyndham-Quin / Mark Brady

Tel: [phone]

Broker

Beaufort Securities Limited

John Belliss

Tel [phone]

JSE Sponsor

Sasfin Capital, a division of Sasfin Bank Limited

Sharon Owens

Tel [phone]

 

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