JUBILEE PLATINUM PLC - Final proceeds from Middelburg Disposal received and DCM commences with 3rd party Ore

Final proceeds from Middelburg Disposal received and DCM commences with 3rd party Ore

Jubilee Platinum PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or “Company")



Final proceeds from Middelburg Disposal received and DCM commences with 3rd party
Ore


Mine-to-Metals specialist Jubilee Platinum plc (AIM: JLP, AltX: JBL) is pleased to announce that
the final purchase consideration relating to the disposal of 100% of the issued shares in Jubilee
Smelting and Refining Proprietary Limited, and 70% of the issued shares in Power Alt
Proprietary Limited ("Middelburg Disposal") has been received. The Company also announces
that Dilokong Chrome Mine (“DCM”), through Jubilee’s subsidiary Jubilee Tailings Treatment
Company (“JTTC”), has entered into an agreement for the acquisition and processing of 3rd
party ore containing chrome and PGM’s to bolster the production at DCM.

Leon Coetzer, Chief Executive of Jubilee, said:

"Negotiations for the acquisition of 3rd party ore at DCM have been ongoing and we are pleased
to announce that this objective has been reached. The first 5 000 tonnes of material will be
processed to determine the economic contribution to the project with the option to increase
the material up to 15 000 tonnes per month. The much higher mineral content of the 3rd
party ore compared with the current tailings material offers the potential to significantly
increase the production rates for the project.

We are equally pleased that the outstanding payments relating to the sale of our Middelburg
operations have been settled with all moneys now received."

As previously announced on 31 March 2016, the remaining purchase consideration of the
Middelburg Disposal was calculated at approximately GBP 0.390 million (ZAR 8.9 million*) net
of closing adjustments including stock and supplier adjustments. The final settlement amount
of GBP 0.463 million (ZAR 7.4 million) has been received by Jubilee.

At DCM, an initial 3rd party tonnage of 5 000 tonnes of ore has been received at the plant with
the option to extend this up to 15 000 tonnes of ore per month. The 3rd party ore will be
processed in addition to the current tailings material. The ore contains a much higher grade
of chrome with similar PGM content than the current tailings material being processed by the
operation and is expected to significantly increase the output of chrome concentrate. Under
the terms of the Framework Agreement, JTTC, is incentivised on both a rand per tonne of
product produced as well as participating in the earnings generated from the processing of 3rd
party ore.


*conversion at the time of the announcement

14 March 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 division of Sasfin Bank Limited
Sharon Owens
Tel +27 (0)11 809 7500

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

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