JBL - Jubilee Platinum PLC - Operations update
Jubilee Platinum PLC
Registration number: 4459850
("Jubilee" or the "Company")
Jubilee Platinum Plc, the AIM and JSE quoted mine to metal specialist is
pleased to announce that is has reached operational temperatures at the
Company`s new 5MW AC furnace at Middelburg which is now moving towards
full production of 2,400 tonnes per month of ferroalloy feed stock and/or
In addition, the Company is delighted to announce exceptional results
from Platinum Group Metals ("PGMs") flotation recovery testwork carried
out on a representative UG2 chromitite reef drill core samples from its
Tjate Platinum project ("Tjate") as part of its on-going prefeasibility
- The additional capacity provided by the new furnace could potentially
generate additional monthly revenues of around R6.0 million (GBP540,000
at current exchange rates ) while producing ferroalloys;
- Currently the furnace is being fine tuned and final inspections
concluded after the initial smelting runs, for ramp up to full
- Tjate continues to produce positive results towards its pre-feasibility
- Recoveries of 90.0% to 91.5% of 4E (platinum palladium rhodium & gold)
from flotation testwork on the UG2 ore while producing above average
concentrate grade; and
- The exceptional recoveries of the platinum group elements ("PGEs") were
achieved by producing a UG2 concentrate containing high chrome. ConRoast
is the only available smelting solution for effectively processing such
chrome rich platinum concentrates.
Leon Coetzer, CEO of Jubilee Platinum commented:
"We are delighted to report that we have commenced feeding ferroalloy
concentrate to the new 5MW furnace at our Middelburg smelting facility.
Tjate testwork results continue to add value to our project, supported by
our ability to process high chrome containing platinum concentrates."
Bringing into production of the new 5MW AC- furnace
Aligned with the two existing 2.5MW AC furnaces, the new 5 MW AC furnace
effectively doubles the furnace capacity on site at Middelburg to 10MW.
The new furnace`s production will be ramped up to a designed throughput
of feed material of 2,400 tonnes per month. This additional capacity is
potentially capable of generating additional monthly revenues of around R
6.0 million (c.GBP540,000 at current exchange rates) while operating as a
Tjate Flotation testwork
Eight UG2 reef drill core sampl
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