LONDON (Alliance News) - Jubilee Platinum PLC on Tuesday said it has taken over full operational control of chrome processing at the ASA project in South Africa, increasing processing capacity.
Jubilee said the overall processing capacity of the project has increased to 75,000 tonnes per month from 25,000 previously.
Jubilee said operating margins will not be compromised by increasing production at the facility and could improve with only a modest change to the fixed component of the overall cost structure of the project.
"We are very pleased with progress on our tailings projects, particularly the increased chrome processing capability together with full operational control. This scenario will undoubtedly positively impact on all aspects of our chrome treatment business," said Leon Coetzer, Jubilee's chief executive.
Jubilee shares were up 4.4% to 2.95 pence Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Jubilee Metals (JLP)