Business
Production and smelting agree
Production and smelting agree.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n RNS Number : 4822S Jubilee Platinum PLC 19 May 2009 \n \nJUBILEE PLATINUM PLC\n(A company incorporated in England and Wales with Registration Number 4459850)\nShare code on the JSE Limited: JBL\nShare code on AIM: JLP ISIN: GB0031852162\n ('Jubilee') \nBRAEMORE RESOURCES PLC\n(A company incorporated in England and Wales with Registration Number 5350550)\n(South African registration number: 2008/013973/10)\nShare code on the JSE Limited: BRE\nShare code on AIM: BRR ISIN: GB00B06GJQ01\n ('Braemore')\n \n19 May 2009\n\n\nJubilee Platinum and Braemore Resources announce production and smelting agreement\n\nBraemore and Jubilee are pleased to announce that they have entered into a binding Heads of Agreement ('the Agreement'). Braemore will provide smelting and refining facilities as part of its commercialisation strategy to process platinum group element ('PGE') concentrates, the source of which Jubilee has the rights to recover. \nHighlights\n\n\nBraemore's ConRoast technology will be applied to Jubilee's PGE concentrate from tailings\n\n\n\n\n\nConRoast technology will add significantly more value to Jubilee's PGE concentrate than conventional current PGE smelting and refining practice \n\n\n\n\n\nExploiting synergies between Jubilee's PGE production and Braemore's refining technology will provide the critical mass necessary to commercialise the venture \n\n\n\n\n\nA special purpose trading vehicle will be formed to execute this binding agreement \n\n\n\nThis Agreement provides a vehicle for Braemore and Jubilee to exploit the synergies between these two junior platinum companies and further demonstrates the commercial viability of the Braemore offering. The value of PGE concentrates from tailings will be enhanced by ensuring exposure to downstream beneficiation and upside value. The management of Braemore and Jubilee believe that this technology will provide considerable enhancement to overall the smelting and refining of PGE concentrates as opposed to the conventional route.\nLeon Coetzer, CEO of Braemore, said: 'This is a new dawn in Braemore's ...