Last checked at 24 Aug 2012 07:00
AIM: JLP
JSE: JBL
Registration number: 4459850
ISIN GB0031852162 24 August 2012
Jubilee Platinum PLC
("Jubilee" or the "Company")
JUBILEE PLATINUM EXECUTES FARM-IN-AGREEMENT WITH INDIAN PACIFIC RESOURCES ON THE IRON ORE OPPORTUNITY IN THE AMBODILAFA TENEMENT AREA IN MADAGASCAR
Jubilee Platinum, the AIM listed and JSE quoted mine-to-metal specialist, is pleased to announce that the Company has executed the formal Farm-In-Agreement, following the Heads of Agreement ("HoA") announced on 9 July 2012, with Indian Pacific Resources Limited ("IPR"). IPR is to farm-in up to a 90% interest in all commodities other than platinum group metals, metals traded on the London Metals Exchange and chrome in Jubilee's Ambodilafa tenement area, Madagascar. The key terms and conditions are unchanged from those contained in the HoA announcement on 9 July 2012.
Leon Coetzer, CEO of Jubilee commented: "This agreement provides Jubilee the opportunity to continue to develop its Ambodilafa asset and the iron ore opportunity with no initial outlay and to have the option to follow an earn-in position on establishing asset value. "
For further information, please contact:
Jubilee Platinum plc
Colin Bird/Leon Coetzer/Andrew Sarosi
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913/+44 (0) 1752 221937
finnCap Ltd
Matthew Robinson/ Ben Thompson - corporate finance
Joanna Weaving - corporate broking
Tel +44 (0) 20 7220 0500
Shore Capital Stockbrokers Limited (Joint Broker)
Jerry Keen/ Edward Mansfield
Tel: +44 (0) 20 7 408 4090
Sasfin Capital
Leonard Eiser /Sharon Owens
Bishopsgate Communications
Nick Rome/Anna Michniewicz/ Ivana Petkova
Tel: +44 (0) 20 7562 3350