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JBL 201603140025A
Update on Jubilee’s Platinum Surface Processing Operations at Dilokong Mine
Jubilee Platinum PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or “Company")
Update on Jubilee’s Platinum Surface Processing Operations at Dilokong Mine
Highlights
- Platinum Surface Processing Plant (“Processing Plant”) at Dilokong Chrome Mine fully
commissioned and operational
- 85% of Design throughput reached at the Processing Plant
The Company would like to update shareholders on progress made with the commissioning of its
Processing Plant at Dilokong Chrome Mine Pty Ltd (“Dilokong”, “the Project”).
As previously announced, the Company commenced with the commissioning of the Processing Plant
in late February 2016, in-line with the requirements of the processing agreement entered into between
the Company’s subsidiary Pollux Investments Holdings Pty Ltd (“Pollux”), ASA Metals Pty Ltd (“ASA
Metals”) and its associated mining and processing operations Dilokong (“the Agreement”); there by
qualifying for the incentives offered under the Agreement for the early commissioning of the
Processing Plant. The Processing Plant is located at Dilokong to process and recover metals from its
surface material.
The Company’s commissioning and ramp-up reached 85% of design throughput with overall
Processing Plant feed rate reaching an extrapolated 21 000 tons per month compared to design of
25 000 tons per month for the Processing Plant. The commissioning and ramp-up of operations
suffered minor delays beyond the control of the Company due to events relating to ASA Metals but
these have now been resolved satisfactorily.
The Company also wishes to clarify the status of ASA Metals and the related Business Rescue
Process (“BR Process”). Whilst the Company cannot comment in detail regarding the BR Process the
Company has been assured at high level that its operations will remain unaffected and wishes to
confirm that the Project continues to have access to surface stock material at Dilokong and business
will continue as normal. The availability to the Project of such a large unencumbered stock of
platinum and chrome containing surface material is an example of the robustness of the Project.
The Company will continue to update shareholders and remains focussed in reaching full operational
output during March 2016 while simultaneously advancing the construction of the significantly larger
platinum and chrome surface processing project at the Hernic operations targeting a combined
processing capacity of 80 000 tonnes of feed material per month.
About Dilokong
Pollux Investment Holdings Pty Ltd (“Pollux”), a wholly owned subsidiary of Jubilee, holds the
exclusive rights to beneficiate the platinum group metals (“PGM’s”) from the platinum-containing
surface material at Dilokong Chrome Mine Proprietary Limited a subsidiary of ASA Metals Proprietary
Limited (“DCM Platinum Project, Processing Agreement”).
The Company has targeted the construction of a New Processing Plant for the recovery of chrome and
PGMs capable of processing up to 35 000 tons of surface material per month. The Company executed
an addendum to the Processing Agreement (“Addendum”), whereby the Company is incentivised to
accelerate the construction and commissioning of the New Processing Plant by targeting
commencement of commissioning of the front end of the New Processing Plant early 2016. The
Addendum significantly enhances and expedites the projected profitability of the project since both the
chrome concentrate and platinum containing concentrate will now contribute to the overall profitability
of the DCM Platinum Project. The Company successfully concluded commissioning of the Project to
qualify for this incentive during February and early March 2016. The Project is the first of the
Company’s Platinum Projects.
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
Brokers
Beaufort Securities Limited
Jon Belliss
Tel: +44 (0) 20 7382 8300
Johannesburg
14 March 2016
JSE Sponsor
Sasfin Capital, a division of Sasfin Bank Limited
Sharon Owens
Tel +27 (0) 11 809 7500
Date: 14/03/2016 01:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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