Last checked at 28 Sep 2017 07:00
Jubilee Platinum PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
Jubilee Platinum Plc
("Jubilee" or "the Company")
Hernic Update
Jubilee wishes to assure shareholders that the notification of Hernic Ferrochrome Proprietary Limited ("Hernic") voluntary business rescue to facilitate the restructuring of some its business activities (''Business Process") has no current effect on Jubilee's operations at Hernic.
Leon Coetzer, Chief Executive Officer, says:
"Jubilee is very accustomed to operating within this Business Process. We have already engaged with Hernic to offer our services wherever appropriate within this process.
Normal operations at Hernic are expected to continue for the foreseeable future with stable chrome market conditions persisting. Our platinum and chrome operation is processing both current arisings stemming from Hernic's mining operations as well as platinum containing material from the vast surface stocks.
As far as the Company is concerned it is business as normal. We continue to be buoyant by our overall results and progress at our Hernic platinum and chrome operations and have over the past week achieved production levels in excess of 1 900 tonnes of feed material per day moving towards a robust operation. "
28 September 2017
Contacts
Jubilee Platinum plc
Colin Bird/Leon CoetzerTel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913Andrew SarosiTel +44 (0)1752 221937
JSE Sponsor
Sasfin Capital, a division of Sasfin Bank LimitedSharon OwensTel +27 (0)11 809 7500
Nominated Adviser
SPARK Advisory Partners LimitedSean Wyndham-Quin/Mark BradyTel: +44 (0)203 368 3555
Broker
Beaufort Securities LimitedJon BellissTel: +44 (0) 20 7382 8300