Business
Jubilee Hernic PGM Project
Jubilee Hernic PGM Project.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 1347B Jubilee Metals Group PLC 05 January 2018 \n\nJubilee Metals Group PLC\nRegistration number (4459850)\nAltX share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n(\"Jubilee\" or \"Company\")\n \nJubilee Hernic PGM Project\nJubilee notes recent media speculation regarding operations at Hernic Ferrochrome Proprietary Limited (\"Hernic\") and wishes to issue a clarification.\nJubilee operates a chrome and platinum recovery plant at Hernic's ferrochrome mine in South Africa.\nOn Friday 29 December 2017 a tailings spill occurred, which caused a V-shaped failure of the side wall of compartment 2 of the tailings dam. The failure in the wall was resealed the same day by Hernic. The spillage was contained on the adjacent property, which was previously used as an opencast mining area. Hernic has commenced with the clean-up of the spill and expects to resume depositing of final processed tailings in compartment 2 before the end of the month. Compartment 2 of the tailings dam was used by Hernic for depositing the final chrome and PGM processed tailings from Jubilee's Hernic Project operation. During this interim period, compartment 1 of the tailings dam will be used for depositing the final processed tailings. Jubilee will continue operating its PGM processing plant and will reduce throughput only during the interim period by approximately 30% to allow Hernic to fully restore compartment 2. \nJubilee is targeting the release shortly of its Q4 2017 Hernic project results which are expected to record a further increase in PGM ounce production in excess of 25% over Q3 2017. \n \n5 January 2018\nContacts\nJubilee Metals Group plc\nColin Bird/Leon Coetzer\nTel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913\nAndrew Sarosi\nTel +44 (0)1752 221937\nJSE Sponsor\nSasfin Capital, a member of Sasfin group\nSharon Owens\nTel +27 (0)11 809 7500\nNominated Adviser\nSPARK Advisory Partners Limited\nMark Brady/Andrew Emmott\nTel: +44 (0)203 368 3551\nBroker\nBeaufort Securities Limited\nJon Belliss\nTel: +44 (0) 20 7382 8300\n \n \n \n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCBSGDBIDGBGIU\n ","length":3133,"tagName":"div"}]