Business
Middelburg Operations Update
Middelburg Operations Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 0829K Jubilee Platinum PLC 20 June 2014 \n \n\nRegistration number: 4459850 \nAltX share code: JBL\nAIM share code: JLP \nISIN: GB0031852162 \n \n19 June 2014\nJubilee Platinum PLC\n(\"Jubilee\" or the \"Company\")\nMiddelburg Operations cash positive and\nPower Sale contract extended to take up any surplus power\n \nJubilee, the AIM-quoted and AltX-listed Mine-to-Metals specialist, is pleased to announce that the Company's Middelburg Operations has achieved its operational and financial targets for May 2014 delivering an unaudited net profit of ZAR 1.33 million (GBP 76 282) which will result in positive cash flow to the Company. This follows the successful commissioning of the 3rd ARC furnace during May 2014 as part of the final phase to the Renewal Programme commissioned by the Company in 2012. This financial result was achieved with the Middelburg Smelters (\"Smelter\") increasing overall metal production by 45% compared to April 2014. The Company is further pleased to announce that the Private Power Purchase Agreement for the sale of electricity to the South African National Energy Provider utility has been further extended to the end of March 2015 with an escalation in power sale price of 6.4%. \nHighlights \n· Unaudited profit achieved at Middelburg Operations \n \n· Production increased by 45% month on month on the back of the commissioning of the 3rd ARC furnace\n \n·&nb...