Business
Jubilee Processing Operational Update
Jubilee Processing Operational Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 4418A Jubilee Platinum PLC 07 June 2016 \n\nRegistration number (4459850) \nAltX share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n \n7 June 2016\nJubilee Platinum PLC\n(\"Jubilee\" or \"Company\")\n \nJubilee Processing Operational Update\n \nMine-to-Metals specialist Jubilee Platinum plc (AIM: JLP, AltX: JBL) is pleased to provide, on behalf of its subsidiary, Jubilee Tailings Treatment Company Pty Ltd (\"JTTC\"), an operations performance and financial update up to end May 2016; May being the first full month's operation since commissioning of its chrome recovery plant (\"Chrome Plant\") on its PGM-bearing tailings processing project on the Dilokong Chrome mine (\"DCM Tailings\" or \"Project\"). \n \nDCM Project Highlights\n \nü Sustainable Chrome Plant feed rate capacity reaches 75 tonnes per hour (tph) exceeding design capacity by 50% (50tph)\n \nü 6 675 tonnes of chromite concentrate produced up to end of May 2016\n \nü Equivalent to ZAR 9.2 million (GBP 0.427 million) revenue generated from chromite concentrate sales alone to end of May 2016 \n \nü Equates to operational earnings at project level of approximately ZAR 6.5 million (GBP 0.301 million) \n \nü Production target for June 2016 set at 6 500 tonnes of chromite concentrate\n \nü Processing of 3rd party run-of-mine ore targeted to commence soon offering the potential to increase chromite concentrate production to more than 25 000 tonnes per month (tpm) \n \nü The enriched platinum containing material continues to be stockpiled with an estimated earnings potential of ZAR 130 million (GBP 6 million). Jubilee is in advanced discussions to conclude the dedicated processing route of the platinum material. \n \n \nLeon Coetzer says;\n \n\"The DCM Tailings team and Chrome Plant continue to outperform the original design numbers as the Project starts to generate revenues and earnings from chrome concentrate sales. The Project continues to exceed the enrichment targets for platinum, increasing the value of this stream and drawing the interest of a number of established platinum producers looking to accelerate the production of a saleable platinum product. We are working to implement the platinum component of the Project and are revie...