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Jubilee Secures Further Supply of Chrome and PGM ROM Feed
Jubilee Metals Group PLC
Registration number (4459850)
Altx share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or "the Company" or “the Group”)
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REGULATION (EU) No 596/2014 (MAR). Not for release, publication or distribution in whole or in part
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Jubilee Secures Further Supply of Chrome and PGM ROM Feed and Re-Commences Ore Beneficiation
Plant at Inyoni Operations
Jubilee Metals Group ("Jubilee" or the “Company"), the AIM and Altx traded metals processing
company, is pleased to announce that it has executed a processing agreement whereby Jubilee has been
appointed as operator to re-commission and operate the existing run of mine (“ROM”) chrome
beneficiation plant (the “Chrome Plant”’) adjacent to its Inyoni Operations (“Inyoni”) (together the
“Processing Agreement”). The Processing Agreement is backed by a guaranteed supply of a minimum
of 40 000 tonnes per month of chrome and PGM containing ROM which has the potential to be
increased to 80 000 tonnes per month. The PGM bearing tails produced by the Chrome Plant will be
further processed at Jubilee’s adjacent Inyoni PGM recovery plant. The PGM rich tails, which will be
produced under the Processing Agreement and supplied to Inyoni, are in addition to the existing PGM
tailings resources already owned by Jubilee and the PGM tails produced by its Windsor operations. The
Processing Agreement not only significantly extends the life of the existing PGM resource but also offers
the potential for Jubilee to significantly expand its Inyoni Operations.
Highlights
• Jubilee secures another significant ore supply and Processing Agreement further increasing its
long term access to chrome and PGM rich feed material
• Under the new Processing Agreement Jubilee has been appointed to recommence the ROM
chrome beneficiation plant at its Inyoni operations which supplements the existing PGM tailings
resources with guaranteed supply of new mined material
• Guaranteed minimum supply of 40 000 tonnes per month of new ROM to the Inyoni Operations
is in addition to the 60 000 tonnes per month of ROM announced previously at Jubilee’s
Windsor Operations and the 35 000 tonnes per month feed material secured at its new Windsor
8 facility
• The Processing Agreement significantly extends the existing PGM resources with further
guaranteed ore supply offering the potential to expand the processing capacity of the Inyoni
Operations
• Jubilee is currently reviewing the expansion of Inyoni to reach 3 500 PGM ounces per month
• Jubilee’s Inyoni Operations now have the potential to offer near and long-term quality earnings
Leon Coetzer, CEO of Jubilee, commented: “Jubilee has, through the Processing Agreement, further
strengthened the sustainability of its operating capacity and earnings base in South Africa. Our specialist
processing solution which recovers chrome and PGMs from feed materials and discard, as well as our
access to unique processing solutions and intellectual property, make Jubilee an internationally
recognised metals recovery company.
“We continue to strive toward ensuring that our operations are constantly supplied with quality feed
sources allowing them to operate at full capacity, whilst at the same time significantly increasing our
surface PGM resources from the discard of the chrome operations. The Processing Agreement secures
up to 80 000 tonnes of ROM feed for our Inyoni Chrome plant for the next eight years in addition to the
already 95 000 tonnes per month of chrome processing capacity secured at our Windsor Chrome plant
and new Windsor 8 facility as previously announced. Jubilee now has the ability to produce in excess of
90 000 tonnes of saleable chrome concentrate per month under protected operational margins and
adding to its existing PGM resources.
“We will continue to strive to outperform the industry norm on chrome efficiencies, with a team that has
proven beyond expectations its capability to achieve consistent and exceptional chrome recovery
efficiencies.
“Our proven capability to maximise output through well developed and tested processing solutions sets
the pace for Jubilee to secure further third party chrome material supplies. “
Key Terms of the Processing Agreement
Under the terms of the Processing Agreement, Jubilee has been appointed to operate and manage the
chrome ore beneficiation plant situated adjacent to Jubilee’s Inyoni Operations at a fixed toll fee. The
Processing Agreement further guarantees the supply of a minimum of 40 000 tonnes per month of ROM
feed with the potential for this to be increased to 80 000 tonnes per month for an initial period of three
years, and extendable by a further five years. Under the Agreement Jubilee also retains the rights to all
discard material from the chrome ore beneficiation plant including all contained PGMs.
The Processing Agreement secures both a committed feed of ROM material to the Inyoni Operations as
well as the continued production of upgraded PGM discard material for further processing at Jubilee’s
PGM recovery plants.
As part of the Processing Agreement Jubilee will fund an estimated GBP 1.34 million (ZAR 30 million)
capital required to upgrade the chrome ore beneficiation plant whereby capital plus interest will be
recovered by Jubilee under a fixed charge per ROM ton processed over the first three years of the
Processing Agreement. Jubilee will fund the capital required from its own cash reserves.
The additional ROM feed processed by the chrome ore beneficiation plant to firstly recover the chrome
will produce new PGM enriched tailings which is fed directly to the Inyoni PGM recovery plant. To
accommodate this additional PGM feed Inyoni will reduce the rate at which it is reclaiming PGM feed
material solely from its existing PGM surface tailings resources, thereby extending the life of its existing
PGM resources. The additional tailings offers Jubilee the opportunity for a modest capital investment,
to expand the Inyoni Operations increasing its monthly PGM ounce production to 3 500 PGM ounces
per month. The designs for the expansion are currently being considered by Jubilee and if approved will
be funded by the Company.
24 August 2020
For further information visit www.jubileemetalsgroup.com or contact:
Jubilee Metals Group PLC
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555
Broker - Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel +44 (0) 20 7186 9900
Joint Broker – WHIreland
Harry Ansell/Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618
JSE Sponsor - Sasfin Capital (a member of the Sasfin group)
Sharon Owens
Tel +27 (0) 11 809 7500
PR & IR Adviser - St Brides Partners Limited
Catherine Leftley/Beth Melluish
Tel +44 (0) 20 7236 1177
Date: 24-08-2020 08:00:00
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