25 May 2012

Jubilee Platinum in £4.2m funding

13/10/2011 Robert Tyerman

South Africa-focused Jubilee Platinum (JLP) is raising £4.22 million at 14p to fund its projects. The AIM-quoted company is using house broker FinnCap to secure money.

London-based Jubilee, steered by the entrepreneurial Colin Bird, also indicates an unnamed 'major mining company' has offered to pay the equivalent of £5.95 million for a platinum project, Quartzhill Farm, owned by Tjate Platinum Corporation, where Jubilee has a significant stake. Jubilee shares, floated at 16p nine years ago, have fluctuated between 35p and 11.88p over the past year and now stand at 13p, up 0.63p today, valuing the company at £33.5 million.

They are speculative.

Tags: AIM market, Colin Bird, Platinum, South Africa, Tjate

Sector: Mining

Companies: Jubilee Platinum

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