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Projects Status Update
Jubilee Metals Group PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or "the Company")
Projects Status Update
Projects Highlights
Hernic project achieves record production of 2 101 PGM* ounces for the month of May with Q2 2018
already touching 4 000 PGM ounces in the first two months
First PGM material from PlatCro targeted for delivery to Northam in June 2018
Construction of Kabwe project underway with initial focus on the zinc leach circuit
Implementation of the fine chrome recovery circuit at DCM underway
* 6 Element Platinum Group Metals
Leon Coetzer, Chief Executive Officer, says:
“I am particularly pleased with the performance of our Hernic operation. The Hernic operation
continues to set new benchmarks quarter on quarter with May setting a new record high delivering an
impressive 2101 PGM ounces. At the current production rates we are expecting to increase the
production of PGM ounces by more than 20% during Q2 2018 compared with Q1 2018.
We have awarded the transport contract to commence with the delivery of our PlatCro PGM material
to Northam Platinum for the recovery of the PGM’s.
The construction of our Kabwe project is underway following the reinstatement of the mining licence
by the Zambian authorities. Our initial focus is on the implementation of the zinc recovery circuit. I will
provide further details and clarity on the project following my presentation to the Zambian Mining
Department later this month.
At DCM we have commenced with the implementation of the hydro-mining circuit to replace the
mechanical reclamation of the tailings material. This switch-over forms part of the installation of the
integrated fine chrome recovery circuit which is the pre-cursor to the platinum recovery circuit at
DCM.”
Hernic Platinum and Chrome Operation (South Africa)
The production rate during the first two months of Q2 2018 continues to show a significant increase in
PGM ounces compared with the previous quarter. Production during May 2018 has set a new record
high for the operation of 2 101 ounces, an increase of 12% on the previous reported high. The
ounces produced to date for Q2 2018 equals 3 972 with a target being set of 6 000 ounces for the full
quarter (equates to a targeted growth of 22.5% quarter-on-quarter). The corresponding financial
numbers for the quarter-to-date is yet to be finalised.
Production performance of the Hernic project for Q1 2018 and Q2 2018 month-to-date as follows:
Tailings processed Tonnes PGM Ounces delivered*
Jan-18 26 073 1 284
Feb-18 38 052 1 755
Mar-18 46 284 1 858
Q1 2018 110 409 4 897
Apr-18 39 458 1 871
May-18 39 734 2 101
Jun-18 - -
Q2 2018** 79 192 3 972
Project to date 497 745 16 305
*Ounces calculated based on assays received to date and subject to final metal accounting.
**Quarter 2 2018 numbers include only the months of April and May 2018.
PlatCro Platinum Project (South Africa)
Jubilee executed a processing agreement with Northam Platinum’s Eland Platinum operation to
process the PlatCro PGM material as announced in April 2018. The project targets the processing of
60 000 tonnes of PGM material per month equating to the production of approximately 2 800 PGM
ounces per month. Jubilee has awarded the transport contract for the delivery of the PGM material
and the first delivery to Northam is expected to commence during June 2018.
Kabwe Zinc, Lead and Vanadium Project (Zambia)
Our Jubilee and BMR teams are hard at work with the construction of the Kabwe project in
Zambia. The initial construction focus is on the zinc primary leach recovery circuit.
The lead and vanadium project schedule will be concluded following completion of the circuit
optimisation work currently undertaken by Jubilee. The circuit optimisation test work by Jubilee’s
research and development team includes work to evaluate the optimal product purity specifications.
Further detail relating to the project’s implementation schedule and design specifications will be
provided following the presentation to the Zambian Mining Authorities during June 2018.
Clarification note on settlement of historical creditors by BMR Group PLC (“BMR”)
Jubilee wishes to clarify the conditions under which Jubilee has agreed to allow BMR to allocate a
portion of its existing holding of Jubilee shares to settle certain approved BMR creditors.
Under the agreement reached with BMR, such number of Jubilee shares as required to settle the
approved creditors will be placed into a Jubilee nominated broker account (“transferred shares”). The
transferred shares will be now be under Jubilee’s control for onward placing to ensure orderly market
conditions.
United Kingdom
7 June 2018
Contacts
Jubilee Metals Group PLC
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Andrew Sarosi
Tel +44 (0) 1752 221937
Nominated Adviser
SPARK Advisory Partners Limited
Mark Brady/Andrew Emmott
Tel: +44 (0) 203 368 3555
Broker
Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel +44 (0) 20 7 186 9900
JSE Sponsor
Sasfin Capital (a member of the Sasfin group)
Sharon Owens
Tel +27 (0) 11 809 7500
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