Companies: JLP   

Results from one infill and one step-out hole on Jubilee Platinum’s Tjate prospect in South Africa’s Bushveld have markedly increased the known area of platinum mineralisation. The company is now targeting reserves of 65 million ounces of platinum group minerals and gold in situ.

Broker Ambrian commented: ‘The Tjate project is one of the last significant resource development opportunities on the Bushveld outside the control of a major mining group, and the high grades on the property increase its attractiveness as an acquisition target. Jubilee trades at a discount due to Tjate not yet holding a JORC-compliant resource; however, the geology of the Bushveld is well understood and the adjacent Impala and Anglo Platinum operations add confidence to the economic potential of the project. We retain our buy recommendation and price target of 124p.’

Tipped here in March 2005 at 41.5p, Jubilee has recently been a weak market following disappointment over the lack of bid developments. They remain a firm, long-term hold at the current 77.5p.

Jubilee Platinum	AIM	£12.84m	11.75p	1.00p
Click here for interactive charting
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