2nd Oct 2013 10:10
LONDON (Alliance News) - Jubilee Platinum PLC Wednesday said that its subsidiary, Tjate Platinum Corporation, has received acceptance from the South African Department of Mineral Resources for its mining rights application for the Tjate Platinum Mine Project.
Jubilee is now in discussions with Tjate over a scoping report and Environmental Management Programme, required to move forward the site in South Africa.
Jubilee Platinum also announced that it has made an application to AIM to list an aggregate of 12.6 million shares, of which 11.0 million would go to Corridor Mining Resources (Pty) Limited in payment for its acquisition, announced late last year, of the right to process platinum group metals from CMR for the Dilokong Chrome Mine tailings. Another 1.6 million will go to financier YA Global Master SPV.
The company said it is now in a position to ramp-up production over the coming months at the Dilokong Chrome Mine, and the Tjate Platinum Mine will be developed over the long term for the company.
Jubilee Platinum shares were down 0.6% to 5.09 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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