Jubilee Metals Group Plc · LSE:JLP
Jubilee Metals — Jubilee Platinum — Indaba 2008
25 slides from Jubilee Metals's conference presentation, February 2008
Slide 1: Accelerating the pace
Accelerating the pace Presentation to Indaba February 2008
Slide 2: Disclaimer
Disclaimer IMPORTANT NOTICE These presentation materials are confidential and have been issued in connection with the proposed placing of new ordinary shares of one pence each (the "Placing Shares") in the capital of Jubilee Platinum plc (the "Company") and the admission of the Placing Shares to tra
Slide 3: Disclaimer (continue)
Disclaimer (continue) In the United States, the Placing Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or qualified for sale under the law of any state of the United States of America and may not be offered or sold
Slide 4: Executive summary
Executive summary Jubilee market data • Listed on AIM and JSE • Market capitalisation of approximately £82m (101,217,408 shares in issue) • Major shareholders: - JP Morgan Fleming Asset Management (8.3 %) - BAC Platinum (7.4%) - Fidelity Managed Funds (5.4%) - Colin Bird (3.5%) - Ambrian Capital (3.
Slide 5: Tjate
Jubilee LO Platinum Tjate > — Za
Slide 6: Tjate – the value curve
Tjate – the value curve Crossover from project to operations Juniors activity Majors activity Resources Reserves Exploration Pre- Valuation Capex Production development $408/oz Value BFS position on Measured Proven the curve increases as $95/oz you get Primary zone for acquisitions and more Operatio
Slide 7: The Bushveld Complex
The Bushveld Complex Jubilee properties (not to scale) Northern Limb Tjate Eastern Limb Western Limb Elandsdrift Bokfontein Map reproduced with permission of Johnson Matthey Page 7 Private & Confidential
Slide 8: Tjate – location and project area
Tjate – location and project area Tjate location Tjate project area Merensky depth ……………. 12 00 Deephole m DT11 14 16 00 00 m m Initial mine area (Amplats) (Implats) • Three contiguous farms 5,143ha • Down dip of Impala’s Marula/Angloplats’ Twickenham mines • Weighted average Merensky grade drilled
Slide 9: Tjate - drilling (Merensky Reef)
Tjate - drilling Merensky Reef Borehole DT1 DT2 DT3 DT4 DT5 DT6 DT7 DT8 DT9 DT10 1 DT11 Depth (m) 869 722 900 685 780 813 723 830 822 997 1280 Pot Thickness¹ (cm) 116 61 61 79 47 134 82 291* 341* 80 hole Grade 4E² g/t 8.91 3.83 6.96 6.42 18.95 11.24 7.08 - 8.09 4.71 5.57 % Ni 0.30 0.22 0.35 0.26 0.9
Slide 10: Tjate - drilling (UG2 Reef)
Tjate - drilling UG2 Reef Borehole DT1 DT2 DT3 DT4 DT8 DT9 Depth (m) 1247 1109 1290 1077 1168 1209 Thickness¹ (cm) 93 95 82 85 66 94 Grade 4E² g/t 6.01 8.01 7.49 7.60 7.20 5.96 Pt:Pd ratio 1.1 0.9 1.2 0.8 1.1 1.0 Gross metal value $/t³ 298 363 360 348 350 289 Notes: 1. Apparent thickness including d
Slide 11: Jubilee by comparison
Jubilee by comparison Contained value per ton of rock 2,000 Tjate 1,800 1,600 Tjate 1,400 1,200 R/ton 1,000 800 600 400 200 0 Ridge Plat Aus Nkwe AQP Jubilee Eastplats Elands Northam Jubilee UG2 MR Resource and grade (sorted by resource) 60 7 50 6 Tjate 5 40 4 30 3 20 2 10 1 Source: Qinisele Resourc
Slide 12: Jubilee by comparison: depth of mining
Jubilee by comparison Depth of Mining Amandlebult deeps Western Plats Western plats Impala deeps Union deeps Union deeps Amandlebult Northam Annoraq Amplats Jubilee Implats Afplats Karee Union WEZ 0 Tjate The depth of 600m to 1200m of the initial development 500 compares favourably with mainstream o
Slide 13: Tjate – scoping study on initial development
Tjate – scoping study on initial development Key assumptions – Initial development (15% of total resources – Merensky only) Rom grade 5.0g/t (3PGE+Au); 0.22% Ni; 0.13% Cu Resource 47m tons from 600m to 1 100m Production 335 000 oz per annum (3PGE+Au) Life of Mine 20 years (full production) Throughpu
Slide 14: Tjate maps
Tjate maps Source: Jubilee Page 14 Private & Confidential
Slide 15: Tjate – peer group comparables
Tjate – peer group comparables Transaction description Date Price Resource R/oz Transaction Rm oz mil $/oz Eland acquire 51% right of triangle Dec 06 106 2.45 43.21 6.39 area Implats acquired Afplats for cash Dec 06 4 307 43.00 100.15 14.82 Eastplats acquired 69% of Nov 06 3 687 50.08 73.61 10.89 Ba
Slide 16: Free option Madagascar
Jubilee DO Platinum Free option Madagascar
Slide 17: Madagascar – on the map
Madagascar – on the map Page 17 Private & Confidential
Slide 18: Madagascar – projects
Madagascar – projects MAVOANDRO ANTSAHABE BOROKELY 40 km N-S strike AMBOASARY LAVATRAFO RANOMENA Page 18 Private & Confidential
Slide 19: Madagascar (Londokomanana) drilling results
Madagascar (Londokomanana) drilling results Londokomanana (Antsahabe) Drilling Results Platinum/Palladium/Nickel/Copper ANT1 including including ANT9 Mineralised intersection (m)¹ 48 20 5 32 3E² g/t 0.03 0.05 0.01 0.33 Ni % 0.62 0.78 1.17 0.33 Cu % 0.12 0.15 0.10 0.12 Cu Equivalent (AM)³ % 2.5 3.2 4
Slide 20: Madagascar (Lavatrafo) drilling results
Madagascar (Lavatrafo) drilling results Lavatrafo (Lavatrafo & Ranomena) Drilling Results Platinum/Palladium LAV1 LAV2A LAV7 RAN1 inc. Mineralised intersection (m)¹ 70 92 19 49 22 3PGE’s ² g/t 1.05 0.66 0.53 0.43 0.62 Ni % 0.23 0.26 0.18 0.28 0.35 Cu % 0.11 0.14 0.21 0.08 0.10 Cu Equivalent (AM³) %
Slide 21: Madagascar - Ambodilafa (JV with Implats)
Madagascar - Ambodilafa (JV with Implats) Mafic-Ultramafic intrusion defined by radiometrics JV earn-in of 51% in Ambodilafa for $5 million expenditure Jubilee can fund its position or dilute to 35%, carried by Impala Area of historical exploration Drilling results in Madagascar are attached in Anne
Slide 22: Madagascar (Ambodilafa) drilling results
Madagascar (Ambodilafa) drilling results Ambodilafa (Implats JV) Extensive ultrabasic intrusion - 17.5 km long up to 6 km wide • Previous 93m drill intersection disseminated sulphides • Recent semi-massive, net textured & disseminated nickel-copper sulphide mineralization intersected at 24 m depth t
Slide 23: Jubilee share price history
Jubilee share price history SA Price and Volume 25 1200 1000 20 800 15 Price (R) Volume 600 10 400 5 200 0 0 Dec 06 Jan 07 Feb 07 Mar 07 Apr UK 07 May Price07 Jun and 07 Jul 07 Aug 07 Sep 07 Oct 07 Volume Volume Price 140 3500 130 3000 120 2500 110 Price (p) 2000 Volume 100 90 1500 80 1000 70 500 60
Slide 24: Tjate – the value curve
Tjate – the value curve Crossover from project to operations Juniors activity Majors activity Resources Reserves Exploration Pre- Valuation Capex Production development $408/oz Value BFS position on Measured Proven the curve increases as $95/oz you get Primary zone for acquisitions and more Operatio
Slide 25: The investment case
The investment case • High grade project with at least three potential mines • Operations not deep, initial development from 600m to 1,200m • Project NPV high at $750 – $900m (5% real) on Merensky reef only • Current valuation of $4.4 per attributable ounce is lowest amongst juniors • Bankable Feasi