Business
New Partnership Agreement, 3rd Party Ore Agreement
New Partnership Agreement, 3rd Party Ore Agreement.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 8710P Jubilee Platinum PLC 05 September 2017 \n\nJubilee Platinum PLC\nRegistration number (4459850)\nAltX share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n \n(\"Jubilee\" or \"Company\")\n \n Significant new Partnership Agreement and substantial 3rd Party Ore Agreement\n \n \nHighlights\nPartnership Agreement with Dilokong Chrome Mines (\"DCM\")\n· The agreement captures the progression of Jubilee's rights at DCM from an initial zero interest in chrome to now enjoy 50% of all chrome benefits from any ore source at DCM project\n· The agreement secures and extends Jubilee's sole rights to all PGMs from material at DCM irrespective of source\n \n3rd Party Ore Agreement\n· Jubilee executes the most substantial 3rd party ore processing agreement to date at DCM\n· The agreement provides Jubilee with up-to 40 000 tonnes per month of additional ore for an initial 3 year period\n· This will more than double the existing operational throughput of the DCM chrome recovery plant\n· The agreement will provide Jubilee with significant additional earnings since the fixed cost remains the same\n· The additional ore supplies have similar PGM content as currently processed contributing to the existing PGM stocks at DCM\n· The agreement is another step in Jubilee's stated intent to consolidate chrome and platinum retreatment in the region \n \n \nLeon Coetzer, Chief Executive Officer, says: \"I am pleased to announce the securing of two major agreements in a single announcement. The agreements bring clarity and certainty to our DCM relationship and collectively doubles the size of our DCM operation without forfeiting any PGM rights.\n \nThe 3rd party ore agreement will contribute significantly to the earnings of DCM as we more than double our current throughput without the need to increase existing processing capacities nor increasing the project's fixed cost component. The agreement will provide a tolling income to the project in addition to the earnings generated from current chrome sales at DCM. \n \nWe continue discussions with ore s...