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JBL 201606070020A
Jubilee Processing Operational Update
Jubilee Platinum PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or “Company")
Jubilee Processing Operational Update
Mine-to-Metals specialist Jubilee Platinum plc (AIM: JLP, AltX: JBL) is pleased to provide, on behalf
of its subsidiary, Jubilee Tailings Treatment Company Pty Ltd (“JTTC”), an operations performance
and financial update up to end May 2016; May being the first full month’s operation since
commissioning of its chrome recovery plant (“Chrome Plant”) on its PGM-bearing tailings
processing project on the Dilokong Chrome mine (“DCM Tailings” or “Project”).
DCM Project Highlights
Sustainable Chrome Plant feed rate capacity reaches 75 tonnes per hour (tph) exceeding design
capacity by 50% (50tph)
6 675 tonnes of chromite concentrate produced up to end of May 2016
Equivalent to ZAR 9.2 million (GBP 0.427 million) revenue generated from chromite concentrate sales
alone to end of May 2016
Equates to operational earnings at project level of approximately ZAR 6.5 million (GBP 0.301 million)
Production target for June 2016 set at 6 500 tonnes of chromite concentrate
Processing of 3rd party run-of-mine ore targeted to commence soon offering the potential to
increase chromite concentrate production to more than 25 000 tonnes per month (tpm)
The enriched platinum containing material continues to be stockpiled with an estimated
earnings potential of ZAR 130 million (GBP 6 million). Jubilee is in advanced discussions to
conclude the dedicated processing route of the platinum material.
Leon Coetzer says;
“The DCM Tailings team and Chrome Plant continue to outperform the original design numbers as the
Project starts to generate revenues and earnings from chrome concentrate sales. The Project
continues to exceed the enrichment targets for platinum, increasing the value of this stream and
drawing the interest of a number of established platinum producers looking to accelerate the
production of a saleable platinum product. We are working to implement the platinum component of
the Project and are reviewing the shortlisted platinum processing options with a view to implement the
platinum component of the Project as soon as possible.
“We also continue to drive towards increasing the chrome concentrate production rate as we look to
commence processing of platinum containing run of mine chrome reef from 3rd party mines. The
introduction of the 3rd party chrome reef with the chrome tailings offers the potential to the Project to
significantly increase the chrome production rate to well in excess of 25 000 tons per month of
saleable chrome concentrate.
“This exponential growth potential of the Project with its associated earnings further ratifies Jubilee’s
decision to sell its interest in the ferro-alloy smelting operation offering limited growth and investing
into the processing of platinum and chrome.
“The construction of Jubilee’s second platinum and chrome tailings project targeting the processing of
55 000 tons per month of feed material remains on schedule with both the platinum and chrome plant
targeting commissioning by the end 2016.
“We look forward to providing shareholders with continued updates on the implementation of Jubilee’s
platinum and chrome processing 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
Broker
Beaufort Securities Limited
Jon 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
7 June 2016
Johannesburg
Date: 07/06/2016 12:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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