RE: Iyoni chrome purchase10 Mar 2020 13:14
Hi Tiger
May I pick you up on the chrome tights at Inyoni. My understanding is that the processed chrome was being free issued back to Hernic by Jubilee. If that is the case, and given that Jubilee now owns the chrome rights in the historical tailings (@1.7m tonnes), surely whatever it is sold for goes to Jubilee’s bottom line? That’s potentially a huge amount of additional income.
From Jubilee RNS Nov 2019:
The addition of the chrome rights significantly expands, and further transforms the economic value of our Inyoni Operations. We are already recovering the chrome concentrate at Inyoni, which was previously returned to Hernic, and now will be sold to the market solely for Jubilee's benefit. This addition has the potential to add a further 8 000 to 10 000 tonnes per month of chrome concentrate to our existing chrome operations with no additional risk to Jubilee and the majority of operating costs already being absorbed by the PGM operation.