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(JLP) Jubilee Platinum Share Chat

Discussion in 'General Share Chat (JLP)' started by rodrod1, Aug 13, 2015.

  1. Groucho

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    05 September 2019

    Jubilee Metals Group PLC

    ("Jubilee" or "the Company")

    Registration number (4459850)

    AltX share code: JBL
    AIM share code: JLP
    ISIN: GB0031852162


    Windsor PGM Project Reaches Full Operational Status



    Jubilee Metals Group ("Jubilee" or the "Company"), the AIM and Altx traded international metals processing company, is pleased to announce that the joint venture PGM recovery plant ("PGM Plant") targeted for the recovery of the PGM rich material owned through its subsidiary Windsor SA ("Windsor PGM Project" or "the Project") has successfully been commissioned and is fully operational. The Project produced 1, 346 PGM ounces in its first operational month of August 2019. The Windsor PGM Project which holds 1.45 million tonnes of chrome and PGM-rich material at surface with further current arisings being added, offers the potential to more than double Jubilee's existing PGM production and significantly enhance the Company's earnings.



    Operational & Projects Highlights

    · Commenced operations in July 2019 initially targeting low grade PGM material to complete commissioning of the PGM Plant before commencing processing of higher grade PGM material during the last week of August 2019

    · The Project has processed 70,077 tonnes of feed material, producing 1,346 PGM ounces for the month of August 2019 which has been on-sold to a third party refinery

    · To date, Jubilee has delivered 468,779 tonnes of feed material to the PGM Plant with September 2019 targeting the processing of 60,000 tonnes and the production of 2,200 of saleable PGM ounces

    · The grinding circuit and final flotation recovery circuits have successfully been brought on-line during August 2019 which will further enhance efficiencies

    · The positive pricing environment for PGMs further increases the economics of this low cost PGM Project

    * 6 Element Platinum Group Metals including platinum, palladium, rhodium, ruthenium, osmium and gold


    Leon Coetzer, Chief Executive Officer, says:

    "With the Windsor PGM Project reaching its full operational status we have reached yet another significant milestone as we continue to grow and diversify our earnings base.

    The Project holds the potential to double our existing PGM production delivering enhanced earnings without any capital burden or time delay associated with the construction of a new PGM recovery plant. I am particularly excited by the early results achieved during the commissioning phase utilising our tailored processing solutions, which support our expectation to achieve a consistent minimum throughput of 60,000 tonnes per month with the potential to deliver approximately 2,500 additional low cost PGM ounces to the Group per month.

    "Bringing Windsor PGM into full operation has been a strong team effort with our JV partner. The JV structure and terms, which incorporate a fixed processing cost with associated earnings share, ensures that both parties are incentivised to maximise PGM recoveries and operational efficiencies.

    "Following the completion of our acquisition of Sable Zinc Kabwe during August 2019, adding copper, vanadium, zinc and lead to our commodity basket, we are consistently delivering on our strategy of diversifying earnings across multiple commodities and jurisdictions. We have an exceptional technical and project execution team that allows us to take advantage of a distinct opportunity of recovering metals from mine waste. Our market is truly international and with an established portfolio being developed we are on course to build a global metals recovery business."



    The Project

    Jubilee commenced operations at Windsor PGM in July 2019 ahead of completing commissioning of the PGM Plant, in tandem with the Company's JV partner, and commencing the production of higher grade PGM material during the last week of August 2019. This Project has the potential to double the Company's current PGM ounce production over the life of the Project. Jubilee is targeting PGM processing at a rate of 60,000 tonnes of feed material per month with the potential to produce approximately 2,500 PGM ounces per month.

    A total of 70,077 tonnes were processed to end August 2019, producing 1,346 PGM ounces. Jubilee has delivered 468,779 tonnes of PGM rich material to the PGM Plant as of the end August 2019. The full PGM Plant has been fully commissioned which includes the grinding circuit and both the primary and secondary recovery circuits, which are expected to enhance the PGM extraction efficiencies.

    The Windsor PGM Project, being a surface processing plant, facilitates the responsible processing of historical waste dumps for the recovery of metals at a low cost. It is part of Jubilee's wider project located in the Western Bushveld Complex, where the Company is already processing chrome at Windsor Chrome, one of South Africa's largest chrome recovery facilities. The Company has a distinct expansion plan aimed at utilising its team, diversifying commodity and jurisdictional exposure to build cash flow and maximise the international opportunity particularly with the increasing environmental obligations faced by mining companies.


    United Kingdom

    5 September 2019
     
  5. Groucho

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    LSE moneyhawk - Platinum Price

    Interesting article from earlier this year, discussing the longer term platinum price.

    https://investinghaven.com/commodities-gold/platinum-price-forecast-2019/

    They believe once above $900/oz for 3 consecutive months the price target becomes of $1190 USD/oz, which further down in the article they say may happen towards the end of the year. IF that happens, then very bullish on next year with $1800/oz possible.

    So far its on track with what they predicted, so its worth keeping an eye on it if the price remains above $900/oz over the next few months.

    Possibly very good timing for us to be bringing windsor on line, and just in time to benefit from a big price jump by the end of the year.
     
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    17 September 2019

    Jubilee Metals Group PLC

    ("Jubilee" or "the Company")

    Registration number (4459850)
    AltX share code: JBL
    AIM share code: JLP
    ISIN: GB0031852162



    Kabwe Multi-Metal Processing Project Update


    Jubilee Metals Group Plc ("Jubilee"), the AIM and Altx traded metals processing company, is pleased to provide an update on its Kabwe Project ("Kabwe" or "the Project") in Zambia. Kabwe, combined with Jubilee's recently acquired multi-metal Sable Refinery (previously referred to as Sable Zinc Refinery), which acts as a central processing facility for third party material in the region, gives access to a current resource comprising of an estimated 6.4 million tonnes (3.2 million JORC compliant) of surface waste assets containing 356,843 tonnes of zinc, 351,386 tonnes of lead and 1.26% equivalent vanadium pentoxide. The Project establishes Jubilee's fully integrated multi-metal recovery and refining operational footprint in Zambia, brings the number of operational projects to five and marks the next stage of the Company's international roll out and widening commodity exposure.


    Highlights:

    Copper
    • The existing copper leaching circuit has been brought on-line to process historical copper tailings as well as third party sourced run of mine material, targeting the first plated copper cathode metal production during early Q4 2019
    • The ramp-up of the copper circuit remains on track targeting 250 tonnes of plated copper cathode per month during Q1 2020, before stepping up to reach 400 tonnes per month from Q2 2020 resulting in early project cash flows during the construction of the zinc and vanadium refining circuits
    • The Project continues to receive keen interests from small to medium mining operations offering third party copper material for further refining, which is in-line with the vision of establishing Sable Refinery as a preferred regional refining hub

    Zinc and Vanadium
    • The zinc and vanadium circuit is primarily constructed for the processing of the Kabwe tailings material, targeting the production of 8,000 tonnes of zinc and 1,500 tonnes of vanadium pent oxide per annum
    • Completion of the zinc circuit remains on track for Q2 2020 with the vanadium circuit following during Q3 2020

    The Kabwe Project
    • The Company is fully funded to execute the Project
    • The Project demonstrates Jubilee’s commitment and capability to the responsible reprocessing of mine waste to reduce and contain the environmental impacts of historical mine waste
    • The Project serves as an entry point for Jubilee to further discussions and test work on multiple additional potential waste reprocessing projects in Zambia
    • The lead circuit will follow after stabilisation of the zinc and vanadium circuit

    Leon Coetzer, Chief Executive Officer, says: "We have hit the ground running since acquiring the Sable Refinery and the commencement of operations is a major step towards the implementation of the Project. Kabwe represents an ideal example of where we can implement our bespoke multi-metal recovery processes to generate significant returns on capital investment, in tandem with addressing the environmental challenges caused by the historic tailings in the area.

    "Our work onsite and offsite, which includes funding to establish metallurgical centres of excellence in the country, establishes our operational footprint in Zambia and demonstrates our commitment to local business and the environment.

    "With our experience we can deliver both results quickly. We have rapid development timelines aiming to produce first copper cathode in Q4 2019, with first zinc concentrates and commercial grade vanadium products in Q2 2020 and early Q3 2020. Lead concentrates will follow the completion of the zinc and vanadium circuit with first production targeted for Q4 2020. The Kabwe project is expected to deliver strong operational margins on the back of a multi metal recovery strategy delivered at a single refinery.

    "Zambia has a rich history of copper mining and a huge amount of potential in the mining waste processing space. The acquisition of Kabwe acts as both an entry point for Jubilee into the country, and a potentially highly profitable operation on which to base further acquisitions as we look to establish further centres of processing excellence within Zambia, which target processing of a variety of surface assets, all the while fulfilling local environmental obligations.

    "I am extremely excited by the progress we are making at Kabwe, which demonstrates to shareholders our ability to implement our strategy of diversifying earnings across multiple commodities and jurisdictions. We are making progress across the portfolio highlighted by the recent update on bringing into operation of the Windsor PGM Project in South Africa which doubles our PGM processing capacity to approximately 60,000 ounces per annum. We reported a 75% increase in combined H1 2019 revenue to GBP 14.36 million and a 47% increase in combined H1 2019 operational earnings to GBP 5.64 million, and with the addition of Kabwe, the continued developments across the portfolio and a strong cash position, I look forward to increasing revenues and delivering shareholder value."



    The Kabwe Project

    Background

    As announced on 23 August 2019, Jubilee now owns the Sable Refinery and has commenced the copper refining operation while fast tracking the implementation of the recovery project for zinc, lead and vanadium in the surface tailings which lie adjacent to the Refinery.

    The Kabwe mine operated continuously for 88 years until closure in 1994 and was regarded as one of the famous mines in Africa. The tailings from the processing operations were discarded at site, but without the proper containment infrastructure both from an air and ground water pollution point of view, which has created environmental problems to the surrounding population. This situation is ideal for the Jubilee team to exploit through implementing its processing operations to create value from the metal rich tailings, while alleviating the environmental issues. Importantly, with relevance to the environmental improvement of the site, the long-term tailings footprint at the site will be greatly reduced. The processing will result in the reduction in tailings material, with all residue produced from reprocessing to be deposited and any run off contained according to current health and safety regulations, significantly reducing the environmental hazard posed by the historical tailings.


    Research, Development and Testwork

    The Company recognised the opportunity to utilise its proprietary metals processing solutions, developed by its process design and research team, to initiate economically viable options to process saleable copper, zinc, lead and vanadium. The studies have been based on solving the environmental legacy while releasing the value of the in-situ metal.


    Copper/Cobalt Production

    In addition to processing historic zinc, lead and vanadium tailings, Jubilee has commissioned the copper leaching circuit to treat existing copper tailings, with the objective to produce plated copper cathode. Physical separation equipment is also being installed to recover cobalt from the copper tailings material, with targeted production in early Q4 2019.


    Third Party Material Processing

    Third party material will only be considered if it offers the potential to further enhance project earnings. Jubilee has received keen indicative interests from both copper and zinc, small and medium scale mining ventures for further refining of their mine material. These additional sources of throughput have the potential to further extend the Project life beyond the 12 year life offered from existing tails alone.


    Corporate Social Responsibility

    Jubilee has joined the Zambia Mining and Environmental Remediation and Improvement Project ("ZMERIP"), a government initiative to reduce environmental health risks to the local population in critically polluted mining areas in Zambia, including the Kabwe municipality. The Company is working on remediation activities and improving environmental activities.

    The Company is committed to creating employment and business opportunities in the Kabwe municipality.


    Bolstering the Team

    Jubilee has deployed a senior management team to the integrated Kabwe Project to further strengthen its existing team of 110 employees at Kabwe. The Company is expecting the team to grow to 200 individuals at full project capacities.


    Project Timelines

    The copper circuit has been brought into operation with the first production of plated copper cathode metal targeted for early Q4 2019. The copper circuit during phase 1 of the project holds the capacity to produce 250 tonnes of plated copper cathode metal per month before increasing capacity during Q2 2020 to 400 tonnes per month. The zinc and vanadium circuit has commenced construction with the first zinc concentrate and commercial grade vanadium products in Q2 & Q3 2020. The zinc and vanadium circuit capacity during phase 2 of the project holds the capacity to produce 8,000 tonnes of zinc and 1,500 tonnes of vanadium pent oxide per annum. The lead circuit will follow once both the zinc and vanadium circuit has reached stable operations and the first lead concentrate is targeted for Q4 2020.

    **ENDS**

    17 September 2019
     
    Last edited: Sep 17, 2019
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    Small Caps Portfolio - Jubilee Metals part 1


    Small Caps Portfolio - Jubilee Metals part 2
     
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    24 September 2019

    Jubilee Metals Group PLC
    ("Jubilee" or "the Company")
    Registration number (4459850)
    AltX share code: JBL
    AIM share code: JLP
    ISIN: GB0031852162


    New Corporate Presentation


    Jubilee Metals Group Plc ("Jubilee"), the AIM and Altx traded metals processing company, is pleased to announce that the Company's new corporate presentation can be viewed on its website at http://bit.ly/2lUgIFH.
     
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    3 October 2019

    Galileo Resources Plc

    ("Galileo" or "the Company")

    Progress in negotiating Offtake Agreement for Star Zinc ore

    Galileo is pleased to provide an update, further to its announcement of 1 May 2019, on its ongoing negotiations targeting a zinc ore (Ore) offtake agreement (the "Agreement") between Jubilee Metal Group plc's ("JMG") Kabwe zinc refinery in Zambia ( the Refinery) and the Company's Zambian Star Zinc and Kashitu projects (the Projects).


    Highlights

    · Ore supply for up to 60 000t tonnes (t) ore per annum

    · Ore grade supplied not less than 14% Zn

    · Payability to be consistent with similar offtake agreements in the zinc market, typically based on a sliding scale against grade and price

    · Three-year term supply, renewable by mutual agreement

    · Mining targeted to commence Q2 2020, subject to availability of further funding and grant of mining right including environmental permit.

    · Contribution of silver and germanium from Star Zinc ore to be further assessed

    · Amenability and suitability of Kashitu material for the Refinery to be tested on site, in particular the recoverability of vanadium, the presence of which has been identified historically on Kashitu.


    Colin Bird CEO said: "Negotiations are advancing satisfactorily towards an industry normal arrangement and allows us to do the necessary administration and planning to bring the Projects into production. The Projects offer the potential to provide consistent quantity and quality of Ore to the Refinery. Furthermore, the suitability of the potentially much larger Kashitu deposit and its vanadium content offers the opportunity of a long term sustainable ore supply . We look forward to concluding the arrangements and commencing exploration and then commencing testing on Kashitu as soon as practicable whilst advancing Star Zinc to production status .


    Background

    JMG secured the Sable Zinc Refinery in Zambia as part of their integrated Kabwe Project to bring to account the Kabwe surface tailings material containing zinc, vanadium and lead. JMG is currently capitalising the refinery with the aim of commissioning a dedicated zinc, vanadium and lead refinery circuit in addition to the existing copper circuit. The addition of the zinc and vanadium circuit offers the potential to refine the zinc ore from both the Star Zinc and Kashitu Zinc projects. Under the terms of the agreement entered into between JMG and BMR Group Plc (31/08/2017), JMG holds the first right to the processing of the mined material at the Star Zinc and Kashitu projects.
    Galileo and JMG have entered into discussions to conclude the terms of such a potential offtake agreement which is to be based on standard industry terms and will consider among other things, availability of refinery capacity, ore supply quantity, grade and payability.
    Such an offtake agreement offers mutual strategic benefits with the Projects potentially accessing a nearby refinery while the Refinery would benefit from a long term ore supply. The potential vanadium content offered by the Kashitu Zinc project is of particular interest and the parties have agreed to collaborate more closely to determine a suitable processing solution.

    The Company will make a further announcement once the terms of the Agreement have been finalised between the parties.
     
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