Business
Strategic partnership update
Strategic partnership update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n RNS Number : 8314W Jubilee Platinum PLC 26 November 2010 \n \n\nFor immediate release\n \n 26th November 2010\n \n \n \nSYLVANIA RESOURCES LIMITED ('Sylvania' or the 'Company')\nASX: SLV\nAIM: SLV\nRegistration No: 091 415 968\nISIN: AU000000SLV8\n \nJubilee Platinum Plc (\"Jubilee\")\nAIM: JLP \nJSE: JBL\nRegistration number: 4459850\nISIN GB0031852169\n \nJoint Announcement\n \nJubilee and Sylvania enter into a specific agreement on PGE/Ni, Cu smelting and refining of Sylvania's new JORC compliant Volspruit deposit\n \nFurther to previous joint announcements on 2 November 2009 and 4 February 2010, Jubilee and Sylvania (collectively \"the Parties\") are pleased to announce that they have entered into the Volspruit Smelting and Refining Agreement (\"Smelting Agreement\") that sets out the respective responsibilities of the Parties and milestone achievements for the next phase of their strategic partnership.\n \nThe Smelting Agreement seeks to expand on the Framework Agreement whereby the Parties have agreed to extend their joint investigations progress as a study into the design and construction of a smelter and refinery complex allocated to processing concentrate from the proposed Volspruit mine that is currently being developed by Sylvania.\n \nThe Volspruit mine project and the Volspruit smelter/refinery projects are inter-related and will be developed concurrently by Sylvania and the Sylvania/Jubilee JV respectively, with the intention of developing solutions that will allow the viable exploitation of concentrates which cannot be treated by conventional processes. The combination of the ConRoast process with a DC arc smelter associated with a base metal refining process is the key to unlocking value from these concentrates. The base metal refining process that has been identified produces base metal products including iron (which is normally a discard product) in a form that commands a premium on London Metal Exchange prices. \n \nUnder the Smelting Agreement the Parties have agreed that a Scoping study will be completed by 28 February 2011, and if satisfied with the outcome the Parties will incorporate a new company and subscribe equally for the shares in the new company and enter into a shareholder agreement.\n \nSubject to finalizing the estab...