Sharenet Sites 
Sharenet Sites
Funding secured for two platinum surface projects, issue of equity and Tjate update
Jubilee Platinum PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or the "Company”)
Funding secured for conclusion of detail design and engineering of Jubilee’s two
platinum surface projects, issue of equity and Tjate Mining Right Update
Jubilee, the AIM-quoted and AltX-listed Mine-to-Metals specialist, is pleased to announce
that it has secured the funding for the detail design and engineering for both its chrome and
PGM’s surface processing operations. The purpose of the funding is to support, inter alia,
the conclusion of the detail design and engineering study program to allow the construction
of the surface PGM and chrome beneficiation processing plants at both Hernic Ferro
Chrome Proprietary Limited (“Hernic”) and ASA Metals (“ASA”). The detail design and
engineering studies are expected to be completed by April 2015. As previously announced
on 19 January 2015, the Company entered into a Heads of Agreement with Hernic; the
world’s 4th largest integrated ferrochrome producer for the beneficiation of the chrome and
PGM’s contained in its surface tailings.
The Company has targeted project funding for the construction of both PGM processing
projects and has, in the interim, engaged with targeted financial institutions while the detail
design and engineering studies are completed.
The funding to conclude the detail design and engineering studies for both PGM processing
projects have been supported through the issuance of Jubilee shares for cash as well as
settling selected creditors in Jubilee’s subsidiaries to release internal funding towards the
simultaneous execution of both PGM processing projects.
Accordingly the Company has completed a placing of 49 999 997 new ordinary shares of 1
pence each (“Ordinary Shares”) in Jubilee (the "Placing Shares") at a price of 1.50 pence
(ZAR 26.35 cents) per share to raise approximately GBP 750 000 (ZAR 13 177 500) at
current conversion rates. Mr Colin Bird, non-executive Chairman of Jubilee participated in
the placing to the value of GBP 20 000 which equates to 1 333 333 shares. This brings Mr
Bird’s total shareholding in the Company to 8 516 512 Ordinary Shares representing 1.2% of
the Company’s total issued capital.
The Company will further issue Ordinary Shares on behalf of its subsidiaries Braemore
Resources Limited (“BRL”), RST Special Metals Proprietary Limited (“RST”) and Jubilee
Smelting and Refining Proprietary Limited (“JSR”) in lieu of debt for services provided
(“Settlement Shares”). A total of 24 666 667 new Ordinary Shares will be issued at an
average price of 1.5 pence (ZAR 26.35 cents) to settle debt in an amount of GBP370 000
(ZAR 6 500 900) at current conversion rates.
The Company is also pleased to provide a further update on the application for a mining right
for its Tjate Platinum project. As previously announced, Jubilee’s subsidiairy Tjate Platinum
Corporation (Proprietary) Limited (“Tjate”) executed a sale of rights agreement with Anglo
American Platinum for the sale of its non-core Quartzhill property for a consideration of R75
million (GBP 4.3 million). The sale of rights agreement is conditional only on the approval by
the Department of Mineral Resources of South Africa (“DMR”) which approval is linked to the
mining right for the larger Tjate platinum project. Tjate has received formal communication
from the DMR that an Environmental Rehabilitation Guarantee (“ERG”) to the value of R27
million (GBP 1.5 million) be provided to the DMR. This request from the DMR is traditionally
indicative of the final step towards receiving the grant of the mining right.
Leon Coetzer, Chief Executive says: “The execution of the two surface PGM processing
projects with a potential access to more than 4.5 million tonnes of platinum containing
material at surface is a significant step forward for the Company and defines the key
deliverables for Jubilee over the next 12 months. The projects have the ability to increase
Jubilee’s earnings with a significant multiple and will redefine Jubilee as a fully operational
low cost PGM producer complemented by its exclusive ConRoast process and the Tjate
Platinum project.
“The executed fund raising has been limited to target the funding of the design and
engineering execution studies while the Company engages with financial institutions to
maximise the exposure to project funding supplemented by the income from the sale of non-
core exploration assets to minimise expected shareholder dilution.
“We are very encouraged by the DMR’s request to put in place the ERG towards the grant of
the mining right and look forward to receiving the mining right in the very near term.”
The Placing Shares and Settlement Shares have been issued as fully paid and rank pari
passu in all respects with the existing ordinary shares, including the right to receive all
dividends and other distributions declared on or after the date on which they are issued.
Application will be made for the Placing Shares and Settlement Shares to be admitted to
trading on AIM ("Admission") and to be listed on the Altx of the JSE Limited, which is
expected to take place on or about 25 February 2015.
Total voting rights
Following Admission, the Company's total issued share capital will comprise 712 005 981
Ordinary Shares. As the Company does not hold any Ordinary Shares in treasury, this figure
may be used by shareholders in the Company as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or a change to their
interest in, the share capital of the Company following Admission.
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
Daniel Stewart and Company PLC
David Coffman
Martin Lampshire
Colin Rowbury
Tel: +44 (0) 207 776 6550
11 February 2014
JSE Sponsor
Sasfin Capital, a division of Sasfin Bank Limited
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