JUBILEE PLATINUM PLC - Jubilee enters MOU for toll processing Dilokong of platinum bearing tailings

Jubilee enters MOU for toll processing Dilokong
 of platinum bearing tailings

Jubilee Platinum Plc 
AIM: JLP JSE: JBL
Registration number: 4459850
ISIN GB0031852162	
("Jubilee" or the Company")



JUBILEE ENTERS MEMORANDUM OF UNDERSTANDING (MOU) 
FOR TOLL PROCESSING DILOKONG CHROME MINES PLATINUM-BEARING TAILINGS 

Jubilee, the AIM and JSE quoted mine to metal specialist, is pleased to 
report that its newly formed subsidiary company Pollux Investment Holdings 
(Pty) Ltd (Pollux)* has entered into a binding and exclusive MOU with 
Phokathaba Platinum (Pty) Ltd, (Phokathaba) a South African subsidiary 
platinum mining company of Australian Stock Exchange listed Platinum 
Australia Ltd (PlatAust) to toll process the 800,000 tonnes of Dilokong 
Chrome Mine platinum-bearing tailings (Dilokong Tailings) using 
Phokathabas concentrator (Phokathaba Concentrator) on PlatAusts Smokey 
Hills mine in the Eastern Bushveld.  As announced on 13 June 2012 Jubilee 
was awarded the right to recover the platinum group metals (PGMs) 
contained in the Dilokong Tailings. 


*Pollux to be renamed Jubilee Tailings Treatment Company (JTTC). 
Highlights

* Jubilee secures access to existing processing capacity to accelerate the production of its own platinum concentrates for smelting in its exclusive ConRoast process; 

* This MOU opens the door to explore further opportunities between the two companies that are in line with Jubilees Mine to Metals strategy;

* Under the MOU, Phokathaba has committed the capacity of its Phokathaba Concentrator to process, on a toll fee basis, the Dilokong Tailings to recover its contained PGMs to concentrate;

The Company will be targeting a tailings processing rate of up to 50,000 tonnes per month. 

The MOU is subject to final due diligence by Jubilee, the approval of PlatAusts senior finance provider and, to the extent, necessary regulatory approvals. The parties have agreed to a time line of 45 days to satisfy the conditions precedent. 

Leon Coetzer, CEO of Jubilee Platinum, commented: 
The MOU signals Jubilees bold steps toward achieving its goal of producing platinum concentrates for processing in its Middelburg facilities in the very near term, further bolstering Jubilees earnings growth profile. This MOU enables Jubilee to accelerate bringing to production its own high-chrome platinum concentrate for minimal capital investment, allowing Jubilee to leverage off its exclusive ConRoast process. The MOU endorses the Companys strategy to acquire in the short to near-term, surface stocks of platinum-bearing waste materials.

Further details of the transaction will be announced later

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    
finnCap Ltd
Matthew Robinson/Ben Thompson corporate finance
Joanna Weaving  corporate broking
Tel +44 (0) 20 7600 1658
Shore Capital Stockbrokers Limited (Joint Broker)
Jerry Keen/Edward Mansfield
Tel: +44 (0) 20 7 408 4090
Sasfin Capital
Leonard Eiser/Sharon Owens
Tel +27 (0) 11 809 7500
Bishopsgate Communications Ltd
Nick Rome/Anna Michniewicz/Ivana Petkova
Tel +44 (0) 20 7562 3350

Johannesburg
9 October 2012 

Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)



 




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