|
BRE JBL
BRE JUJLP
BRE/JBL - Braemore /Jubilee - Jubilee and Braemore announce production and
smelting agreement
BRAEMORE RESOURCES PLC
(A company incorporated in England and Wales with Registration Number 5350550)
(South African registration number: 2008/013973/10)
Share code on the JSE Limited: BRE
Share code on AIM: BRR ISIN: GB00B06GJQ01
("Braemore")
JUBILEE PLATINUM PLC
(A company incorporated in England and Wales with Registration Number 4459850)
Share code on the JSE Limited: JBL
Share code on AIM: JLP ISIN: GB0031852162
("Jubilee")
JUBILEE PLATINUM AND BRAEMORE RESOURCES ANNOUNCE PRODUCTION AND SMELTING
AGREEMENT
Braemore and Jubilee are pleased to announce that they have entered into a
binding Heads of Agreement ("the Agreement"). Braemore will provide smelting and
refining facilities as part of its commercialisation strategy to process
platinum group element ("PGE") concentrates, the source of which Jubilee has the
rights to recover.
Highlights
- Braemore`s ConRoast technology will be applied to Jubilee`s PGE concentrate
from tailings
- ConRoast technology will add significantly more value to Jubilee`s PGE
concentrate than conventional current PGE smelting and refining practice
- Exploiting synergies between Jubilee`s PGE production and Braemore`s refining
technology will provide the critical mass necessary to commercialise the
venture
- A special purpose trading vehicle will be formed to execute this binding
agreement
This Agreement provides a vehicle for Braemore and Jubilee to exploit the
synergies between these two junior platinum companies and further demonstrates
the commercial viability of the Braemore offering. The value of PGE
concentrates from tailings will be enhanced by ensuring exposure to downstream
beneficiation and upside value. The management of Braemore and Jubilee believe
that this technology will provide considerable enhancement to overall the
smelting and refining of PGE concentrates as opposed to the conventional route.
Leon Coetzer, CEO of Braemore, said: "This is a new dawn in Braemore`s
evolution. We are no longer a technology or development company, the
acceleration of ConRoast`s commercialisation is now well underway."
Colin Bird, CEO of Jubilee, commented: "This agreement is a key step in ensuring
we maximise returns across the mining process for Jubilee shareholders and we
see the Jubilee-Braemore alliance as an important step for our short term
production mission."
For further information please contact:
Colin Bird
Jubilee Platinum plc
Tel +44 (0) 20 7584 2155
Leon Coetzer
Braemore Resources
Tel + 27 (0) 11 557 6413
Andrew Sarosi
Jubilee Platinum plc
Tel +44 (0) 1752 221937
Matthew Robinson/Rose Herbert
FinnCap
Tel +44 (0) 20 7600 1658
Dennis Tucker
Qinisele Resources
Tel +27 (0) 82 492 4957
Brian Chistie/Leonard Eiser
Sasfin Capital
Tel +27 (0) 11 809 7500
James Joyce
WH Ireland
Tel +44 (0) 207 220 1666
Suzanne Johnson-Walsh
Bishopsgate Communications Ltd
Tel +44 (0) 20 7562 3350
Louise Goodeve/Leah Kramer
Walbrook PR
Tel +44 (0) 207 933 8780
Nicola Taylor
Russell and Associates
Tel +27 (0) 11 880 3924
Johannesburg
19 May 2009
Sponsor
Sasfin (a division of Sasfin Bank Limited)
Date: 19/05/2009 11:07:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
