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Contrace for power sales to national energy provider reinstated
JUBILEE PLATINUM PLC
(Registration number 4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or the "Company" or the “Group”)
CONTRACT FOR POWER SALES TO NATIONAL ENERGY PROVIDER
REINSTATED
Jubilee, the AIM-quoted and Altx-listed Mine-to-Metals specialist, is pleased to
announce that the national energy provider of South Africa has, with immediate
effect, reinstated the Private Power Purchase Agreement (“PPPA”) entered into with
the Company’s subsidiary Power Alt Pty Ltd in December 2012. The Company will
commence with the supply of all surplus power capacity from its power plant with
immediate effect. The Company expects to deliver approximately 5MW of power to
the grid which equates to an expected revenue of GBP 195 000 (ZAR3.5 million) per
month. The term for the reinstated PPPA is yet to be finalised due to the urgency for
the immediate supply of power. The reinstatement of the contract is driven by the
continued pressure on the supply of power to the national grid.
Leon Coetzer says “The reinstatement of the PPPA by the national energy provider
is welcomed but largely expected due to the continued pressure on the supply of
electricity in the South Africa.
“The Company will continue to review the potential of further increasing the power
supply capability of our power plant to grow this revenue exposure. We expect the
need for private power sales to further grow leading into the winter months in South
Africa when historically the power demand in the country further increases.”
Contacts
Jubilee Platinum plc
Colin Bird
Tel +44 (0) 20 7584 2155
Leon Coetzer
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
NOMAD
finnCap Ltd
Matthew Robinson/Ben Thompson – corporate finance
Joanna Weaving – corporate broking
Tel +44 (0) 20 7220 0500
Bishopsgate Communications Ltd
Nick Rome/Anna Michniewicz
Tel +44 (0) 20 7107 1890
20 February 2014
Johannesburg
Designated Advisor
Sasfin Capital (a division of Sasfin Bank Limited)
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