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2.85 0.00 (0.00%)

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Spread: 0.30 (11.111%)

Market Cap: £91.86m

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Jubilee Platinum in advanced talks over project financing

Tue, 04th Aug 2015 14:13

(ShareCast News) - Jubilee Platinum confirmed on Tuesday it is in advanced talks with a major financial institution to secure the financing required to bring its two surface platinum processing plants in South Africa into operation.The company said the debt funding of around £12.9m before financing costs has received credit approval, in principal, from the targeted major financial institution, but there is no guarantee it will be successfully completed.Chief executive Leon Coetzer said: "The company continues to drive hard the time lines of both Platinum Surface Projects aim for the commissioning of both project in June 2016."At 1317 BST, shares were up 7% at 4.95p.