JUBILEE METALS GROUP PLC PRESENTATION DECEMBER 2018
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JUBILEE METALS GROUP PLC PRESENTATION
DECEMBER 2018
Summary Jubilee Metals Group(“Jubilee”) is a London and Johannesburg listed mine waste processing and metals recovery company, with projects in South Africa and Zambia. Jubilee is raising project finance capital for the commissioningof the Kabwe Lead, Zinc and Vanadium recovery project in Kabwe, Zambia as well as a Platinum and Chrome Project in South Africa This document provides an overview of Jubilee, the Kabwe project and the proposed funding structure
Jubilee Metals Group Metals Recovery Company Jubilee Metals Group PLC (AIM:JLP; JSE:JBL) is an industry acknowledged expert mine waste retreatment solutions provider, specialising in mineral recovery from tailings, slag, slurry and other secondary material produced by mining. Jubilee has demonstrated a recovery skills base in the mine waste retreatment industry. This skill base has taken Jubilee into the board rooms of major mining houses, discussing their waste problems and potential benefits of retreatment. Jubilee has the in-house ability to design, build and operate recovery plants and optimisation solutions for mining majors. Proven success in the South African Chrome and PGM industry, working with Mitsubishi, Northam, Lonmin and other operators.
Existing Projects
Positioning:
Hernic and Chemstof Mine Dilokong Chrome Mine
H ernic
The world’s largest platinum processing
facility of chrome tailings with a targeted
average of 55 000 tonnes per month processing
capacity
3.3 million tonnes of platinum rich material at surface growing
at 17 000 tonnes per month
Total Investment to construct processingunit of GBP 13 million
Keyprojectmilestones:
• Concluded construction January 2017 • First Chrome production February 2017
• First Platinum production March 2017 • Positive project earnings from June 2017
Dilokong Chrome and Platinum Chrome tailings recovery circuit with and average monthly processing capacity of 45 000 tonnes 1000 000 tonnes of enriched platinum material at surface Commissioning a state of the art fine chrome recovery circuit in Q4 2018 capable of processing 25 000 tonnes per month of fine chrome Key projectmile stones: • First Chrome production March 2016 • Positive project earnings from June 2016
Dilokong Chrome and Platinum
PlatCro Platinum and Chrome Jubilee secures all PGM and Chrome rights of existing surface material and future material PlatCro is strategically located along the platinum and Chrome rich western limb of South Africa PlatCro currently holds 960 000 tonnes per annum processing facility
PlatCro Platinum Project
1 850 000 tonnes of Platinum rich material at surface and all future arisings
Processing agreement executed with currently growing at approximately 12 000 tonnes per month
Northam Platinum to recover PGMs at their Containing estimated 2.7 g/t 4E PGMs before further upgrade through
Eland Platinum recovery circuit Chrome removal.
Project targeting processing rate of 60 000 tonnes per month. Project Targeting production of 30 000 PGM oz per annum
will commence processing material from February 2019PlatCro Chrome Project
Processing capacity of 960 000 tonnes per annum from existing infrastructure
Plant capacity utilised to process:
• Existing on-site tailings
• 3rd party run of mine ore
Jubilee targets to enhance processing technology and capacity in excess of 1mil tonnes per annumJBL Recent Financial Highlights – Financial Year Ending June 2018 •Combined project revenue up 44.14 % to £ 14.14 million (ZAR 245.53 million) [2017: £ 9.81 million (ZAR 166.97 million)] •Combined project attributable earnings up 206 % to £ 5.03 million (ZAR 86.80 million) [2017: £ 1.64 million (ZAR 28.20 million)]
Jubilee Project Performance
HERNIC DCM
3500 7000 1400000 16000
3000 6000 14000
1200000
12000
2500 5000 1000000
10000
TONNES PRODUCED
PGM OUNCES
2000 4000 800000
GBP'000S
GBP'000S
8000
1500 3000 600000
6000
1000 2000 400000
4000
500 1000 200000
2000
0 0 0 0
Q3 2017 Q4 2017 Q1 2018 Q2 2018
Q3 2017 Q4 2017 Q1 2018 Q2 2018
Project Revenue Jubilee Attributable Earnings PGM Ounces Delivered Project Revenue Jubilee Project Earnings Tonnes ProducedKabwe Project
Kabwe Social and I ndustrial
Social Responsible Investment
Design Principles:
Zero effluent facility ensuring no further contamination of soil or water
Implementation of a hydro mining solution, rather than the less expansive option of mechanical mining, specifically to
suppress airborne dust in the area
Upgrade of process flow sheet to avoid the addition of any chloride based salts, to avoid contamination of water systems
Segregation of zinc and lead refinery to specifically contain all lead potential exposure to environment and people
All lead final residues contained in fully lined facility
Capital effect: Approximately US$4.3 mil
Support to Artisanal Mining:
Currently engaging with regional authorities to offer processing and operational expertise to the sector, including health and
safety
The refinery design specifically allows for the processing of such materialKabwe Zinc, Lead and Vanadium Project Recovery of Lead, Zinc and Vanadiumfrom surface assets at Kabwe, Zambia Jubilee holds 91.1% of the Kabwe project company 6.4 million tonnes (3.5 million JORC compliant) surface material containing an Jubilee has establishmenta metallurgical centre of excellence in Kitwe as technical estimated 356 843 tonnes of Zinc and 351 386 tonnes of Lead support foot print to drive growth in Central Africa
Kabwe Key Transaction Terms Jubilee owns direct interest of 87.5% in the project and combined with indirect holdings, holds 91.1% interest in Kabwe Project Jubilee to provide initial required funding to construct required infrastructure to commence Kabwe Project. Jubilee holds option to acquire 100% of the project Capital expenditure to commence towards end of 2018 / 2019. Zinc Production to commence first, thereafter Lead and Vanadium will follow Jubilee to design, build and operate the plant BMR has right to a Royalty of 12.5% after Jubilee has secured a minimum return of 20% on its total investment
Board of Directors
Board of Directors
Colin Bird – Non-Executive Chairman
Colin is a Fellow of the Institute of Materials, Minerals and Mining and a UK Chartered Engineer. He holds a UK and South African Mine Managers Certificate for coal mines. The formative part of his
career was spent in the UK coal mining industry and thereafter he moved to the Zambian copper belt and then to South Africa to work in a management position with Anglo Coal and BP Coal. On his
return to the UK he was Technical and Operations Director of Costain Mining Ltd, which involved responsibility for Costain’s interest in the UK, Latin-America and Spain. Mr Bird has had senior
technical and operational experience in a number of commodities to include coal, nickel, gold, copper and industrial minerals.
Leon Coetzer – Chief Executive Officer
Leon is a graduate chemical engineer. Before Jubilee, he was employed for 20 years within the Anglo American PLC stable, of which 16years were spent at Anglo Platinum. His last position was
Head of Process Control and Instrumentation where he defined and managed the automation and process control strategy for Anglo Platinum. The programme has established itself as a recognised
world leader in its field. He was a member of the Executive Process Committee, the Research and Development Council, and advisor to the asset optimisation initiative at Anglo Platinum.
Throughout his career, he has managed both technical and production units of large operations, including both platinum concentrators and smelters, and was selected to partake in Anglo
American’s global leadership programme. He is a member of the advisory Board of the process engineering faculties at both the University of Pretoria and the University of Stellenbosch and is also
a member of the South African Institute of Mining and Metallurgy, and a member of the South African Institute of Directors.
Dr. Evan Kirby – Technical Director
Evan is a metallurgist with over 40 years’ experience in the mining sector. He worked for 16 years in South Africa with Impala Platinum, Rand Mines and then Rustenburg Platinum
Mines. In 1992, he moved to Australia and was employed by Minproc Engineers and then Bechtel Corporation, where he had management and technical responsibilities. In 2002, Evan established
his own consulting business, Metallurgical Management Services. He has had leading roles in numerous metals & minerals projects, including many world-class developments. His experience
base includes gold, platinum group metals, base metals, battery metals (graphite, lithium, vanadium), diamonds, coloured gemstones, and mineral sands.
Dr. Matthews Phosa – Non-Executive Vice Chairman Christopher Molefe – Non-Executive Director
Dr Mathews Phosa established the first black law firm in Nelspruit in 1981. He is a Mr Christopher Molefe was formerly the Chief Executive of Royal Bafokeng
renowned strategic and business leader who has had an immeasurable impact on Resources Pty Ltd and is presently the Non-executive Chairman of Merafe
the lives of numerous South Africans. Resources Ltd and a Non-executive Director of Capital Oil Pty Ltd. He currently
Dr Phosa sits on a number of listed company boards (Waterberg Coal Company holds Chairman positions with Bapo Ba Mogale Investments Holdings Pty Ltd,
Limited, Value Group, Jubilee Platinum) as well as a number of unlisted entities Transfrontier Capital Pty Ltd and Saldanha Bay Investment Corporation, all in
(Mathews Phosa & Associates, Hans Merensky Holdings, and du Toit Smuts & South Africa.
Mathews Phosa Attorneys). Mr Molefe has held several positions in corporate banking and industry for the
previous 20 years.Thank You
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