22/02/2007
Jubilee Platinum says it has found ‘substantial’ nickel and copper mineralisation at Ambodilafa in Madagascar.
AIM-quoted Jubilee, which is also working on platinum group metals projects in South Africa’s Bushveld, says it has intersected ‘semi-massive to massive’ nickel and copper sulphide mineralisation in its third diamond drill hole at the Ambodilafa prospect. The company says the mineralisation was found to persist ‘generally but not continuously’ from a depth of 24 metres to 220 metres and included intersections of 1.29 per cent nickel, 0.76 per cent copper and 0.05 per cent cobalt, with gross metal values ranging from $241 to $515 (£120 to £257) a tonne.
Chief executive officer Colin Bird enthuse: ‘We have now identified a highly prospective target.’ Impala Platinum, the world’s second-largest platinum producer, has an exclusive option to pay the equivalent of £2.5 million towards exploring Ambodilafa in return for 51 per cent of the project, while Japanese metal trader Mitsubishi is putting £8 million into Jubilee’s platinum subsidiary.
Recommended by Growth Company Investor at 26p in 2005 and again in December at 66.25p, Jubilee shares were 0.25p up this morning at 89.25p, valuing the company at £71 million. Hold on.
Related Articles:
|
| 11/08/2008
|
| 16/05/2008
|
| 15/05/2008
|
| 14/05/2008
|
| 14/05/2008
|
People who read this article also read ...
|
| 22/10/2007
|
| 11/10/2007
|
| 03/08/2007
|
| 22/02/2007
|
| 06/08/2004
|
| AIM | £12.29m |
11.25p
|
-0.25p
|
|
| Other company articles: |
| 11/08/2008 |
| 21/02/2008 |
| 08/02/2008 |
| 18/01/2008 |
| 16/11/2007 |
