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PGM operation achieves record production

Jubilee Metals Hernic project achieves record production of 2 101 PGM ounces for the month of May with Q2 2018 already touching 4 000 PGM ounces in the first two months.

The production rate during the first two months of Q2 2018 continues to show a significant increase in PGM ounces compared with the previous quarter.

Production during May 2018 has set a new record high for the operation of 2 101 oz, an increase of 12% on the previous reported high.

The ounces produced to date for Q2 2018 equals 3 972 with a target being set of 6 000 oz for the full quarter (equates to a targeted growth of 22.5% quarter-on-quarter).

The corresponding financial numbers for the quarter-to-date is yet to be finalised.

“I am particularly pleased with the performance of our Hernic operation,” comments Jubilee Metals CEO Leon Coetzer.

“The Hernic operation continues to set new benchmarks quarter on quarter with May setting a new record high delivering an impressive 2101 PGM ounces.

“At the current production rates we are expecting to increase the production of PGM ounces by more than 20% during Q2 2018 compared with Q1 2018,” he adds.

Projects in Jubilee Metals’ portfolio

PlatCro platinum project (South Africa) –  Jubilee Metals executed a processing agreement with Northam Platinum’s Eland platinum operation to process the PlatCro PGM material as announced in April 2018.

The project targets the processing of 60 000 tonnes of PGM material per month equating to the production of approximately 2 800 PGM ounces per month.

Jubilee has awarded the transport contract for the delivery of the PGM material and the first delivery to Northam Platinum is expected to commence during June 2018.

Kabwe Zinc, Lead and Vanadium Project (Zambia) – The Jubilee Metals and BMR teams are hard at work with the construction of the Kabwe project in Zambia.

The initial construction focus is on the zinc primary leach recovery circuit. The lead and vanadium project schedule will be concluded following completion of the circuit  optimisation work currently undertaken by Jubilee Metals.

The circuit optimisation test work by Jubilee’s research and development team includes work to evaluate the optimal product purity specifications.

“We have awarded the transport contract to commence with the delivery of our PlatCro PGM material to Northam Platinum for the recovery of the PGM’s,” notes Coetzer.

“The construction of our Kabwe project is underway following the reinstatement of the mining licence by the Zambian authorities.

“Our initial focus is on the implementation of the zinc recovery circuit.

“I will provide further details and clarity on the project following my presentation to the Zambian Mining Department later this month.

“At DCM we have commenced with the implementation of the hydro-mining circuit to replace the mechanical reclamation of the tailings material.

“This switch-over forms part of the installation of the integrated fine chrome recovery circuit which is the pre-cursor to the platinum recovery circuit at DCM.” he explains.