# Jubilee Metals Group PLC Q&A: Project Status Update (LON:JLP)

- Link: https://www.directorstalkinterviews.com/jubilee-metals-group-plc-qa-project-status-update-lonjlp/412752792
- Published: 2018-06-13T12:47:58+01:00
- Author: Amilia Stone

**[Jubilee Metals Group](https://www.directorstalkinterviews.com/company/jubilee-metals-group-plc/jlp.l)
PLC** ([LON:JLP](https://www.directorstalkinterviews.com/company/jubilee-metals-group-plc/jlp.l))
Chief Executive Officer Leon Coetzer caught up with DirectorsTalk for an exclusive
interview to discuss their recent project status update.

 

**Q1: It looks like the Hernic operation if performing well, can we expect this 
type of performance to continue or even improve further?**

**A1**: The results for this last month, released last week, has been particularly
pleasing, for our company to break through that magical 2,000 ounces sold in a month
was a target we had set for the first quarter of 2018 and happy to have reach that.
We absolutely expect to not only repeat those results going forward, but very much
a company to achieve the 2,500 ounces sold in a month as our absolute target in 
the very near future.

 

**Q2: In your recent update, you spoke of the PlatCro project starting with the 
transport contract awarded, could you explain more about what the PlatCro project
is?**

**A2**: The PlatCro project is an entity where, we as Jubilee Metals, acquired the
PGM rights to the material by paying upfront for any related PGM charges and royalty
charges. At the time when we announced the transaction, we were estimating that 
we would have access to approximately 1.5 million tonnes of material, platinum-containing
material, but since the announcement this material has continued to grow and it 
is now on close to touching 2 million tonnes of material already available.

We entered into an agreement with Northam Platinum, the world’s largest producer
to share a process facility very closely located to this material so that avoided
the need for Jubilee to invest any capital in the project and also brought forward
our ability to start recovering these materials.

So, we’ve awarded the contracts and we have started transporting material to the
Northam facility, the Northam facility is currently being upgraded and we are expecting
to start recovering platinum there in February as we ramp up this 60,000 tonnes 
that we’ll be processing a month which will make that growing Northam relationship
project larger than even the Hernic project.

 

**Q3: In yesterday’s announcement, you state that you’ve placed the Jubilee shares
that are being held by BMR to settle creditors, could you expand on this a little?**

**A3**: That was a very nice outcome. Jubilee agreed, I agreed, with BMR that we
would allow them to utilise some of the Jubilee shares that they have held to place
those shares back into the market to address some historical cursors that we had
approved with BMR and these cursors specifically selected to avoid these cursors
causing any frustration on the good progress we’re making with the Zambian based
Kabwe project. We agreed that BMR might use those shares on one condition, that 
was that Jubilee had the right to manage and place those shares into the market 
and particularly able to take these loose shares and place them into long-term institutional
holding.

I’m very thankful for the support we received and also very encouraging to have 
received such overwhelming support from institutions who believe in what we’re delivering
and believe in our story and how we’re growing the company so very encouraged by
that outcome.

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