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Jubilee Executes Surface Tailings Transaction
Jubilee Executes Surface Tailings Transaction.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 9272Y Jubilee Platinum PLC 09 March 2017 \n\nRegistration number (4459850) \nAltX share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n \n9 March 2017\n \nJubilee Platinum PLC\n(\"Jubilee\" or \"Company\")\n \nJubilee Executes Surface Tailings Transaction in Australia \n \nHighlights \n· Jubilee has secured a copper surface tailings project with RMA in Australia consistent with its stated surface processing mission \n· Project production forecast of 12,000 tones (t) of copper (Cu) at production cost AUD3,381/t Cu (USD2,569/t Cu) - Current Cu price USD6,000/ t Cu \n· Near surface resources of 35,000t Cu in combination of JORC compliant category and mineral inventory \n· Project Tenements comprise seven copper mining leases and two Exploration licences in South Australia \n· Several of the Project Tenements targeted to be production -ready within four months of the Transaction and able to produce cash flow within 6 month of acquisition\n· Project Tenements offer significant Cu exploration upside potential\nMine-to-Metals specialist Jubilee Platinum plc (AIM: JLP, AltX: JBL) is pleased to announce, that it has executed a binding and exclusive Term Sheet to enter into a transaction (\"the Transaction\") with Resilience Mining Australia Limited (\"RMA\") to explore and develop ('the Project\") RMA's Leigh Copper Mine (\"LCCM\") and other copper Mining Tenements (\"the Project Tenements), collectively owned or held by Leigh Copper Mine Proprietary Limited (the \"Project Company\"), subject to conditions precedent including satisfactory due diligence and/or to entering into the transactional agreement (\"the Proposed Transaction Agreement\" or \"the Proposed Commercial Transaction\"). \nLeon Coetzer, Chief Executive of Jubilee, said: \"The execution of this Term Sheet demonstrates Jubilee's ability to apply its processing success and expertise in the recovery of platinum and chrome to associated base metals such as copper. The expertise that Jubilee holds in the processing of near surface materials and tailings is easily transferred to minerals that fall within the PGM and Base Metals gr...