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Platinum Projects Quarterly Update
Jubilee Platinum PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or “Company")
11 July 2016
Jubilee Platinum PLC
("Jubilee" or “Company")
Platinum Projects Quarterly Update
Mine-to-Metals specialist Jubilee Platinum plc (AIM: JLP, AltX: JBL) is pleased to provide, on
behalf of its subsidiary, Jubilee Tailings Treatment Company Pty Ltd (“JTTC”), a performance,
operational and financial update for the three-months’ ended 30 June 2016 (“Q2”), of its chrome
recovery section of the Dilokong Chrome mine tailings project (“DCM Tailings” or “DCM
Project”) and a progress update on the Hernic PGM-bearing chrome tailings project (“Hernic
Project”).
Highlights
DCM Project
- Chromite concentrate production reaches a total of 15 188 tons produced to end June 2016
(7 480 tons in June 2016)
- Project revenue generated from chromite concentrate sales to end June 2016 of ZAR 19.1
million (GBP 1 million)
- Project earnings of ZAR14.2 million (GBP 0.744 million) of which ZAR 8.7 million (GBP
0.456 million) attributable to Jubilee
- PGM processing option with 3rd party processer in final discussions offering significant
project upside
- Potential value of saleable platinum in inventory is approximately R 399.1 million (GBP 21
million) at current platinum prices
Hernic Project
- Construction of the 55 000 tons per month platinum and chromite processing plant
progressing to schedule
- Project Capital expenditure to date of ZAR 88.5 million (GBP 4.6 million) equivalent of 45%
of total estimated Project Capital
- Commissioning of world’s largest platinum recovery plant from chrome tailings target to
commence in December 2016
Leon Coetzer, Chief Executive commented:
“The DCM Project has outperformed the original design numbers both in terms of revenue,
earnings from chromite concentrate sales and better than designed operational performance.
To date early project revenue has been generated from the sales of chromite concentrate. The
enrichment of the platinum material which is produced by recovering chromite from the surface
material and rejecting waste has exceeded our projections due to a better than expected
chromite yield from the DCM Project, without compromising the PGM metal recovery to the
platinum material.
The Company is considering toll processing as an alternative to building its own plant and are
currently considering offers. If an acceptable offer is received there will be no need to build a
plant and platinum revenues will be received much earlier than planned. In the meantime we
continue to increase our revenues from chrome production and source third party feed input.
The Hernic project, which targets 55 000 tonnes per month of tailing material proceeds on
budget and on time to be the World’s largest platinum recovery plant from chrome tailings.”
Chromite Project Project Project Project Jubilee Jubilee
concentrate revenue revenue earnings* earnings attributable attributable
tons (ZAR) (GBP) (ZAR) (GBP) project project
produced earnings earnings
(ZAR) (GBP)
Q2 2016 15 188 19,136,986 1,001,936 14,202,563 743,590 8,709,783 456,010
DCM PROJECT PERFORMANCE FOR THE QUARTER ENDING JUNE 2016
Q2 2016 production includes the ramp up phase with June 2016 reaching a stable production
of 7 480 tons. All chromite production to date is from the processing of platinum and chrome
containing surface tailings alone. Project earnings is net of operational cost and cost of chromite
concentrate sales.
The enriched platinum containing stream after chromite removal is stored at site for further
processing to produce a platinum concentrate.
Jubilee is currently concluding its evaluation of either further processing the enriched platinum
material in a 3rd party owned platinum processing plant or completing the construction of
dedicated platinum processing plant at DCM. If Jubilee concludes to process the platinum
material in a 3rd party owned plant all equipment already secured for the DCM platinum
processing plant is transferable to the Hernic platinum processing plant.
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
JSE Sponsor
Sasfin Capital, a division of Sasfin Bank Limited
Sharon Owens
Tel +27 (0)11 809 7500
11 July 2016
Johannesburg
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