Braemore Resources and Jubilee Platinum announce production and smelting agreement

Braemore and Jubilee are pleased to announce that they have entered into a binding Heads of Agreement. Braemore will provide smelting and refining facilities as part of its commercialisation strategy to process platinum group element 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.”