Business
Production and Financing Update
Production and Financing Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 6911W Jubilee Platinum PLC 02 January 2014 \n\n \nRegistration number (4459850) \nAltX share code: JBL\nAIM share code: JLP \nISIN: GB0031852162 \n \nNot for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.\n \n2 January 2014\n \nJubilee Platinum PLC\n(\"Jubilee\" or the \"Company\" or the \"Group\")\n \nJubilee Middelburg Smelters Achieve New Record Production Rate \n And\nJubilee secures an Equity Financing Facility in Support of Targeted Acquisitions\n \n \nUpdate on Middelburg Smelter\nJubilee, the AIM and AltX quoted Mine-to-Metals specialist, is pleased to announce that the Middelburg Smelter operation has achieved a new record production rate - more than 35 tons of Ferronickel metal within a single 24-hour shift - exceeding the previous record of 26 tons of metal. \nThis achievement comes following the Company's recent announcement (dated 23 December 2013) that it had secured funding for the final phase of the smelter renewable program, which includes the expansion of the Middelburg Smelter operation to three operating ARC furnaces. \n \nTwo of these furnaces will be dedicated to the production of ferronickel metal and the third furnace to the production of ferrosilicon metal, thereby increasing the total targeted smelter design capacity to 13,900 tons of metal per annum. All three furnaces have been fully contracted.\nWith proceeds in place to fund the commissioning of the remaining 3rd ARC furnace at Middelburg, the Board of Jubilee believes that the Middelburg Smelter is in a strong position to enhance its earnings profile. \n \nEquity Financing Facility\nWith a view to expanding its access to platinum c...