JUBILEE METALS GROUP PLC - General operations and projects update

Release Date: 22/03/2019 07:30
Code(s): JBL
 
Wrap Text
General operations and projects update

Jubilee Metals Group PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or "the Company")


     Dissemination of a Regulatory Announcement that contains inside information according to
                              REGULATION (EU) No 596/2014 (MAR).

                                       General Operations and Projects Update


Highlights

     -    Company continues to grow
     -    PlatCro Chrome operation acquired in January 2019 already contributing to group earnings
          ahead of schedule of GBP0.9 million (ZAR16.06 million) combined for January and February
          2019
     -    The PlatCro PGM project accelerates deliveries of PGM containing material to Northam’s
          Eland platinum concentrator, scheduled to commence PGM recovery and refining during May
          2019
     -    Jubilee completes commissioning and bringing into operation of industry first DCM fine
          chrome plant delivering saleable chrome concentrate to the market
     -    The Hernic project continues to deliver strong earnings combined for January and February
          2019 of GBP1.10 million (ZAR19.69 million)

1= * 6 Element Platinum Group Metals



Leon Coetzer, Chief Executive Officer, says:
“The period has been remarkable both operationally and financially for Jubilee leading to a solid South
African platform which precedes our targeted growth into base metals in Zambia.


Jubilee has continued to demonstrate its ability to deliver projects on-time and in budget. The quarter
to date has delivered major growth in both our South African chrome and PGM operations. I am
particularly pleased with the team’s performance at PlatCro Chrome delivering positive earnings
ahead of schedule of GBP0.90 million during the months of January and February 2019.


The progress is testimony to the operational excellence and tenacity of the Jubilee team.


We continue to consolidate our projects to further advance earnings and fast track our expansion plans
both within and outside of South Africa.”
PlatCro chrome and PGM project

Jubilee completed the acquisition of its PlatCro chrome project in January 2019 and delivers positive
earnings ahead of projections for January and February of GBP0.90 million (ZAR16.06 million).

The PlatCro PGM project accelerated deliveries of the PGM containing material to Northam’s Eland
platinum concentrator, scheduled to commence PGM recovery and refining during May 2019. The
project targets to process up to 60 000 tonnes per month of PGM material equating to a production
potential of 30 000 PGM ounces per annum which equals the current Hernic PGM operation.

DCM fine chrome project

The DCM fine chrome plant was brought into production during January 2019 and ramped up to reach
commercial production levels during March 2019. The project is the first of its kind in the industry
targeting the recovery of the super fine chrome component currently lost to tails by the chrome
industry. The DCM plant holds a capacity to process up to 25 000 tonnes per month of chrome
containing tailings material. Jubilee will target to roll-out this process to its other operations.

Hernic project

The Hernic operation continued to deliver strong earnings despite a delayed start-up following the
December break and the challenges posed by increased power outages from the South African power
grid. The Company expects production to return to previous levels from March 2019. Hernic
delivered operational earnings of GBP1.10 million for January and February 2019. The Company
expects to further grow the earnings potential as its targets to increase delivery of feed material to
the operation.




United Kingdom
20 March 2019

Contacts

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/Vassil Kirtchev
Tel: +44 (0) 203 368 3555

Corporate 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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