Business
Further Acquisition of PGM material
Further Acquisition of PGM material.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8534A\n Jubilee Metals Group PLC\n 04 June 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n Registration number (4459850)\n \n \n Altx share code: JBL\n \n \n AIM share code: JLP\n \n \n ISIN: GB0031852162\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n Jubilee Metals Group PLC\n \n \n (\"Jubilee\" or \"the Company\" or \"the Group\")\n \n \n Further Acquisition of PGM material in the Eastern Limb, South Africa\n \n \n \n \n \n Jubilee, a leader in metals processing with operations in Africa (AIM: JLP/Altx: JBL), is pleased to announce a further substantial acquisition of the rights to 944 000 tonnes of PGM containing tailings in the Eastern Limb of the PGM-rich Bushveld Complex. This comes in quick succession to the PGM Supply Agreements entered in to and the acquisition of 255 000 tonnes of PGM containing material in the Western Limb, as announced on 3 June 2021.\n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n Acquired the rights to 944 000 tonnes of PGM containing surface tailings (before accounting for any moisture) in the Eastern Limb \n \n \n · \n This is in addition to the recent PGM Supply Agreements in the Eastern Limb and the acquisition of 255 000 tonnes of PGM containing material \n \n \n · \n Demonstrates Jubilee as the go-to company with the knowledge and IP to maximise value of these surface tailings\n \n \n · \n Targeted to commence with the upliftment and transport of the PGM material during June 2021 at a minimum rate of 30 000 tonnes per month, the equivalent of 1 600 PGM ounces per month\n \n \n · \n Acquisition fully commits the expanded Inyoni PGM capacity prior to commissioning commencing in July 2021 without committing existing historical surface tailings \n \n \n \n \n \n \n \n \n PGM - 6 Element Platinum Group Metals including platinum, palladium, rhodium, ruthenium, osmium and gold\n \n \n \n \n \n \n Leon Coetzer, CEO of Jubilee, commented: \n \n \n \"I am thrilled we have been able t...