Business
Update on Platinum Surface Processing Operations
Update on Platinum Surface Processing Operations.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 9872R Jubilee Platinum PLC 14 March 2016 \n\nRegistration number (4459850) \nAltX share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n \n14 March 2016\nJubilee Platinum PLC\n(\"Jubilee\" or \"Company\")\n \nUpdate on Jubilee's Platinum Surface Processing Operations at Dilokong Mine\n \nHighlights\n· Platinum Surface Processing Plant (\"Processing Plant\") at Dilokong Chrome Mine fully commissioned and operational\n· 85% of Design throughput reached at the Processing Plant\n \nThe Company would like to update shareholders on progress made with the commissioning of its Processing Plant at Dilokong Chrome Mine Pty Ltd (\"Dilokong\", \"the Project\").\nAs previously announced, the Company commenced with the commissioning of the Processing Plant in late February 2016, in-line with the requirements of the processing agreement entered into between the Company's subsidiary Pollux Investments Holdings Pty Ltd (\"Pollux\"), ASA Metals Pty Ltd (\"ASA Metals\") and its associated mining and processing operations Dilokong (\"the Agreement\"); there by qualifying for the incentives offered under the Agreement for the early commissioning of the Processing Plant. The Processing Plant is located at Dilokong to process and recover metals from its surface material.\nThe Company's commissioning and ramp-up reached 85% of design throughput with overall Processing Plant feed rate reaching an extrapolated 21 000 tons per month compared to design of 25 000 tons per month for the Processing Plant. The commissioning and ramp-up of operations suffered minor delays beyond the control of the Company due to events relating to ASA Metals but these have now been resolved satisfactorily.\nThe Company also wishes to clarify the status of ASA Metals and the related Business Rescue Process (\"BR Process\"). Whilst the Company cannot comment in detail regarding the BR Process the Company has been assured at high level that its operations will remain unaffected and wishes to confirm that the Project continues to have access to surface stock material at Dilokong and business will continue as normal. The availability to the Project of such a large unencumbered stock of platinum and chrome containing surface material is an example of the robustnes...