4th Aug 2015 12:05
LONDON (Alliance News) - Jubilee Platinum PLC noted the rise in its share price during morning trade on Tuesday and said it is close to securing project financing for its two surface platinum processing plants in South Africa.
Jubilee said the ZAR255 million facility, around GBP12.9 million, has received credit approval from its unnamed lender, but said there is no guarantee the funding will be successfully completed.
"The company continues to drive hard the timelines of both platinum surface projects aim for the commissioning of both project in June 2016," said Leon Coetzer, Jubilee's chief executive.
Shares in Jubilee were up 1.6% to 4.70 pence on Tuesday, coming off their intraday - and new 52-week - high of 5.45p after the company's announcement.
By Sam Unsted; [email protected]; @SamUAtAlliance
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