Jubilee Platinum has returned to the watering hole yet again. After last year’s £5.2 million fundraising and a $10 million (£4.73 million) farm-out on its Madagascan properties, the company is now raising a further £11 million net with a placing at 89p. This will increase the capital by just less than 15 per cent. The shares responded positively to the news – rising 2p to 92.5p. That compares with a recommendation level here in March 2005 of 41.5p.

After various rumours that either Jubilee or its big Tjate platinum group metals project in South Africa’s Bushveld would be sold off to a mining major such as Impala or Anglo American, the fund-raising would suggest Jubilee intends to soldier on alone. That may be no bad thing for Tjate has the makings of a big mine. Growth Equities recently upgraded its assessment of Jubilee’s net worth to 305p a share – though that falls to about 265p after the latest placing. Jubilee remains a solid hold.

Jubilee Platinum	AIM	£11.74m	10.75p	0.00p
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Other company articles:
Encouragement for Jubilee			11/08/2008
Drilling pleases Jubilee			21/02/2008
Uranium play joins PLUS			08/02/2008
Prospects delight Jubilee Platinum			18/01/2008
Jubilee drilling extends strike at Londokomanana			16/11/2007