JUBILEE PLATINUM PLC - Hernic Operations Update for October 2017

Hernic Operations Update for October 2017

Jubilee Platinum Plc
 (“Registration number: 4459850”)
AIM share code: JLP
AltX share code: JBL
ISIN: GB0031852162
 (“Jubilee” or “the Company”)



Hernic Operations Update for October 2017



Highlights

The Hernic PGM Project continues to step up production reaching 45 596 tonnes processed for
October 2017

PGM(1) ounces production increased by 22 % month-on-month to 1 427 ounces

Project revenue(2) increased by 18 % month-on-month to GBP 0.76 million (22 % to ZAR 13.77)(3)

Project earnings(4) increased by 47 % month-on-month to GBP 0.37 million (52 % to ZAR 6.65
million)

Unit cost per PGM ounce produced continues to reduce achieving USD 406

1 = Precious Group Metals (platinum, palladium, rhodium, iridium, ruthenium, and gold)
2= Revenue from the current project phase - 100% attributable to Jubilee until full capital recovery.
Revenue is projected based on latest average PGM market prices and USD exchange rates and
results are only final once final Quotational Period has passed
3= Average monthly conversion rates used
4= Project Earnings include all incurred operational costs including management services and
         mineral royalties




CEO, Leon Coetzer, commented:

“The Hernic project continues to deliver excellent results as we step up the throughput during the
final optimisation of the operation.

Our October results illustrate the significant improvement in operational performance during this
optimisation phase which we expect to continue over the next quarter.

I am particularly delighted by the earnings margin that the project is already achieving with a unit
cost of only USD 406 making the Hernic project one of the lowest cost PGM producers in the
industry.”



HERNIC OVERVIEW

The Hernic operations’ performance improved significantly, which is in-line with the current focus on
process optimisation as part of the final phase of the project execution. As stated previously we
expected a further step increase in operational performance during Q4 2017 with the increase in
         feed material to the processing plant. The October results confirm this continued step improvement
         for Q4 2017 with a 22% increase in PGM ounce production resulting in a project unit cost per PGM
         ounce produced of USD 406.

         The table below presents the comparative performance of the Hernic operation for Q3 2017 and the
         month of October 2017:

                                                                                         Jubilee        Jubilee
               Tailings     PGM        Project     Project     Project      Project                                 Unit cost /
                                                                                      attributable   attributable
              processed    ounces     revenue 1   revenue2    earnings3    earnings                                  PGM oz
                                                                                        earnings       earnings
               tonnes     delivered   (GBP'000)   (ZAR'000)   (GBP'000)   (ZAR'000)                                   (USD)
                                                                                       (GBP'000)      (ZAR'000)

Jul-17          34 823      792         365        6.226         50         868           50             868           516

Aug-17          33 057      911         528        9.055        195        3.340          195           3.340          474

Sep-17          37 793     1 171        646        11.300       251        4.384          251           4.384          449
Total Q3
               105 673     2 874       1.539       26.581       496        8.592          496           8.592          476
2017
Oct-17          45 596     1 427        763        13.771       368        6.647          368           6.647          406


         1= Revenue from the current project phase - 100% attributable to Jubilee until full capital recovery.
         Revenue is projected based on latest average PGM market prices and USD exchange rates and
         results are only final once final Quotational Period has passed
         2= Average monthly conversion rates used
         3= Project Earnings include all incurred operational costs including management services and
                  mineral royalties




         This announcement contains inside information for the purposes of Article 7 of EU Regulation
         596/2014.

         The financial information in this announcement is unaudited.


         United Kingdom

         20 November 2017



         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
JSE Sponsor

Sasfin Capital, (a member of the Sasfin group)
Sharon Owens
Tel +27 (0)11 809 7500

Nominated Adviser

SPARK Advisory Partners Limited
Mark Brady/Andrew Emmott
Tel: +44 (0)203 368 3551

Broker

Beaufort Securities Limited
Jon Belliss
Tel: +44 (0) 20 7382 8300

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