Business
Acquires 51% Of Shares And Cl
Acquires 51% Of Shares And Cl.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n RNS Number : 1016A Jubilee Platinum PLC 26 January 2011 \n \n\n \nAIM: JLP\nJSE: JBL\nRegistration number: 4459850\nISIN GB0031852162\n \nJubilee Platinum PLC\n(\"Jubilee\" or the \"Company\")\n \nJUBILEE ACQUIRES 51% OF SHARES AND CLAIMS IN POWER ALT (PROPRIETARY) LIMITED (\"POWER ALT\") AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT\n \nJubilee is pleased to announce the acquisition of 51% of the shares and claims in Power Alt for a consideration of R27 500 000 (approx GBP £2,425,000).\n \nHighlights - \n \n· Power Alt provides Jubilee with a secure independent power supply to underpin its operational and expansion goals for its ConRoast Process\n \n· Power Alt will provide Jubilee with an offset to its power cost, which has a direct positive impact on ConRoast's associated operating costs \n \n· Power Alt has the potential of expanding on its current generation capacity of 11MW to a full 29MW of power\n \n \nLeon Coetzer, CEO of Jubilee Platinum commented: \"This transaction underpins Jubilee's expansion goals by securing an independent power supply for its processes.\" \n \n \nContacts \n \nColin Bird/Leon Coetzer \nJubilee Platinum plc \nTel +44 (0) 20 7584 2155 / TEL +27 (0)11 465 1913 \n \nAndrew Sarosi \nJubilee Platinum plc \nTel +44 (0) 1752 221937 \n \nMatthew Robinson/Rose Herbert\nfinnCap Ltd\nTel +...