Business
Platinum Projects Quarterly Update
Platinum Projects Quarterly Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 7467D Jubilee Platinum PLC 11 July 2016 \n\nRegistration number (4459850) \nAltX share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n \n11 July 2016\n \nJubilee Platinum PLC\n(\"Jubilee\" or \"Company\")\n \nPlatinum Projects Quarterly 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\"), a performance, operational and financial update for the three-months' ended 30 June 2016 (\"Q2\"), of its chrome recovery section of the Dilokong Chrome mine tailings project (\"DCM Tailings\" or \"DCM Project\") and a progress update on the Hernic PGM-bearing chrome tailings project (\"Hernic Project\").\n \nHighlights\nDCM Project \n· Chromite concentrate production reaches a total of 15 188 tons produced to end June 2016 (7 480 tons in June 2016)\n· Project revenue generated from chromite concentrate sales to end June 2016 of ZAR 19.1 million (GBP 1 million)\n· Project earnings of ZAR14.2 million (GBP 0.744 million) of which ZAR 8.7 million (GBP 0.456 million) attributable to Jubilee\n· PGM processing option with 3rd party processer in final discussions offering significant project upside\n· Potential value of saleable platinum in inventory is approximately R 399.1 million (GBP 21 million) at current platinum prices\n \nHernic Project\n· Construction of the 55 000 tons per month platinum and chromite processing plant progressing to schedule\n· Project Capital expenditure to date of ZAR 88.5 million (GBP 4.6 million) equivalent of 45% of total estimated Project Capital\n· Commissioning of world's largest platinum recovery plant from chrome tailings target to commence in December 2016\n \nLeon Coetzer, Chief Executive commented:\n\"The DCM Project has outperformed the original design numbers both in terms of revenue, earnings from chromite concentrate sales and better than designed operational performance. To date early project revenue has been generated from the ...