Production and Smelting Agreement

 

TIDMBRR TIDMJLP 
 
RNS Number : 4829S 
Braemore Resources PLC 
19 May 2009 
 

BRAEMORE RESOURCES PLC 
("Braemore") 
 
 
JUBILEE PLATINUM PLC 
("Jubilee") 
 
 
 
 
Braemore Resources and Jubilee Platinum announce production and smelting 
agreement 
 
 
Braemore (AIM: BRR / JSE BRE) and Jubilee (AIM: JLP / JSE: JBL) are pleased to 
announce that they have entered into a binding Heads of Agreement ("the 
Agreement"). Braemore will provide smelting and refining facilities as part of 
its commercialisation strategy to process platinum group element ("PGE") 
concentrates, the source of which Jubilee has the rights to recover. 
Highlights 
  *  Braemore's ConRoast technology will be applied to Jubilee's PGE concentrate from 
  tailings 
 
 
 
  *  ConRoast technology will add significantly more value to Jubilee's PGE 
  concentrate than conventional current PGE smelting and refining practice 
 
 
 
  *  Exploiting synergies between Jubilee's PGE production and Braemore's refining 
  technology will provide the critical mass necessary to commercialise the venture 
 
 
 
  *  A special purpose trading vehicle will be formed to execute this binding 
  agreement 
 
 
 
This Agreement provides a vehicle for Braemore and Jubilee to exploit the 
synergies between these two junior platinum companies and further demonstrates 
the commercial viability of the Braemore offering. The value of PGE concentrates 
from tailings will be enhanced by ensuring exposure to downstream beneficiation 
and upside value.  The management of Braemore and Jubilee believe that this 
technology will provide considerable enhancement to overall the smelting and 
refining of PGE concentrates as opposed to the conventional route. 
Leon Coetzer, CEO of Braemore, said: "This is a new dawn in Braemore's 
evolution. We are no longer a technology or development company, the 
acceleration of ConRoast's commercialisation is now well underway." 
Colin Bird, CEO of Jubilee, commented: "This agreement is a key step in ensuring 
we maximise returns across the mining process for Jubilee shareholders and we 
see the Jubilee-Braemore alliance as an important step for our short term 
production mission." 
 
Enquiries: 
 
 
+------------------------+---------------------------+-------------------------+ 
| Colin Bird             | Leon Coetzer              | Andrew Sarosi           | 
| Jubilee Platinum plc   | Braemore Resources        | Jubilee Platinum plc    | 
| Tel [phone]    | Tel + 27 (0) 11 557 6413  | Tel [phone] | 
| 2155                   |                           |                         | 
|                        |                           |                         | 
+------------------------+---------------------------+-------------------------+ 
| Nicola Taylor          | Matthew Robinson/Rose     | Dennis Tucker           | 
| Russell and Associates | Herbert, FinnCap          | Qinisele Resources      | 
| Tel [phone]     | Tel [phone]  | Tel [phone] | 
| 3924                   |                           |                         | 
|                        |                           |                         | 
+------------------------+---------------------------+-------------------------+ 
| Brian Chistie/Leonard  |  James Joyce              | Suzanne Johnson-Walsh   | 
| Eiser                  | WH Ireland                | Bishopsgate             | 
| Sasfin Capital         | Tel [phone]  | Communications          | 
| Tel [phone]     |                           | Tel [phone]     | 
| 7500                   |                           | 3350                    | 
+------------------------+---------------------------+-------------------------+ 
| Louise Goodeve/Leah    |                           |                         | 
| Kramer                 |                           |                         | 
| Walbrook PR            |                           |                         | 
| Tel [phone]    |                           |                         | 
| 8780                   |                           |                         | 
+------------------------+---------------------------+-------------------------+ 
 
 
 
 
Notes to editors: 
 
 
Braemore Resources 
Braemore Resources offers investors an attractive opportunity to enter into the 
PGMs and nickel business, initially through the mid-stream processing of these 
metals and, in time, through mine-to-market production opportunities. Braemore 
Resources is principally involved in evaluating, establishing and operating 
independent facilities for the roasting, smelting and refining of concentrates 
containing PGM and associated base metals and for the reclamation and processing 
of sulphide nickel tailings. Diversified both geographically and in terms of 
product, the company is located in two key mining regions - Braemore Nickel in 
Western Australia and Braemore Platinum in South Africa. Braemore's access to 
proprietary technology, and in particular the Mintek ConRoast technology, which 
has successfully operated at test plant level, makes the company well-positioned 
to become a significant player in the burgeoning South African PGMs sector, 
offering a more cost-effective, environmentally friendly and accessible smelting 
option to many junior mining companies. Unlike conventional smelters, ConRoast 
is unaffected by the high-chrome content ores, which are increasingly being 
mined. 
 
 
Braemore's management team, in South Africa and Australia, brings with them 
impressive credentials in their respective sectors, combined with a Board that 
has experience in metals processing, financial and commodities markets. 
 
 
Jubilee Platinum 
Jubilee Platinum plc is a mining exploration and development company with a 
focus on platinum group elements and nickel/copper. 
 
 
Jubilee is in an unincorporated joint venture ("UJV"),  through its 65% owned 
subsidiary Maude Mining and Exploration (Pty) Ltd with Benhaus Mining (Pty) Ltd, 
in respect of its Bokfontein and Elandsdrfit farms, and PGE bearing dump 
tailings located in the western limb of the Bushveld complex. Maude holds a 
54.5% stake and Benhaus a 45.5% stake in the UJV. The UJV presents the 
opportunity for both primary mining for chrome coupled with tailings 
re-treatment for PGEs. 
 
 
The Company's prime asset in South Africa is the Tjate project, in which it has 
a 63 % beneficial interest. The project covers some 5140 hectares and is downdip 
of existing Anglo Platinum's Twickenham and Impala Platinum's Marula operations. 
The project's exploration area has been independently estimated to be a target 
for potentially some 65 million oz (41 million oz attributable) of PGEs and gold 
net of geological losses. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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