Business
Operational and Drilling Upda
Operational and Drilling Upda.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n RNS Number : 6485Y Jubilee Platinum PLC 29 December 2010 \n \n\n \n \nAIM: JLP\nJSE: JBL\nRegistration number: 4459850\nISIN: GB0031852162 \n \nJUBILEE PLATINUM PLC\n(\"Jubilee\" or \"the Company\")\n \nOperational and Drilling Update\n \nWe are pleased to provide an update on significant progress made by the Company\nHighlights \n· Engineering Design Study completed for the 1st new ConRoast facility at Middleburg and on track for commissioning in 2011\n \n· Feasibility Study completed on the Carbonyl process for the refining of ConRoast PGM-iron alloy \n \n· The Feasibility Study confirms viability to produce final metals: demonstrates an indicated 38 month payback period on capital investment \n \n· Marketing analysis projects refined Nickel, Iron and PGM products could command premium prices\n \n· In-fill drilling programme on Tjate confirms grade and continuity for both the UG2 and Merensky reef\n \nLeon Coetzer, CEO of Jubilee said \"The pleasing results from both our refining study on ConRoast alloy and in-filling drilling on Tjate confirm our confidence in these projects and we are committed to executing the ConRoast furnace facility in 2011\".\nNew ConRoast Smelting Facility at Middelburg\nJubilee appointed Tenova Pyromet to conclude the engineering design study for the construction of the new ConRoast smelting facility at Jubilee's Middelburg property by December 2010. The ConRoast facility is sized to include a 5MW furnace. The study confirmed the potential recognised by Jubilee during the acquisition of the property, to realise significant capital savings by leveraging of the existing infrastructure at the Middleburg property. The long lead items for the construction of the ConRoast facility have been identified and are expected to be ordered by Jubilee within the first quarter of 2011. Jubilee is currently in discussions with suppliers to review the delivery times of the critical equipment to avoid any delays during the construction of the facility.\nRefining Process Feasibility Study \nThe feasibility study for the recovery and refining of Nickel, Iron and Cobalt powders from the PGM iron alloy produced by the ...