Jubilee Platinum PLC
Registration number: 4459850
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or the "Company")
19 April 2016
Tailings Projects Update
The Company is pleased to announce that all matters relating to its chrome processing development and operations are progressing satisfactory and report increased throughput capacity together with operational control of the ASA project ("ASA").
Key Points of Progress
· Jubilee assumes operational control of all chrome processing capability at ASA
· Overall processing capability at ASA increases from 25,000 tpm to 75,000 tpm
· Increased processing capability provides increased scope for third party material importation
· Currently the Company is processing 55 tonnes feed per hour, which will increase over the coming weeks
· Operating margins per tonne will not be compromised and could potentially improve, based on only modest change, to the fixed cost component of the overall cost structure
· The Company's other tailings projects remain on target with all long lead time orders placed and initial construction progressing satisfactorily
· The Company will provide shareholders with an operating and financial report, following the first quarter of full production
Leon Coetzer, CEO said: "We are very pleased with progress on our tailings projects, particularly the increased chrome processing capability together with full operational control. This scenario will undoubtedly positively impact on all aspects of our chrome treatment business. We look forward to updating shareholders with real numbers as our operations progress."
Contacts
Jubilee Platinum plc
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Andrew Sarosi
Tel +44 (0) 1752 221937
Nominated Adviser
SPARK Advisory Partners Limited
Sean Wyndham-Quin / Mark Brady
Tel: +44 (0)203 368 3555
Broker
Beaufort Securities Limited
John Belliss
Tel +44 (0) 20 7382 8300
JSE Sponsor
Sasfin Capital, a division of Sasfin Bank Limited
Sharon Owens
Tel +27 (0) 11 809 7500
