Jubilee Platinum PLC, One for tomorrow!!! Options

[Nosedive]

I am holding already, since the RNS on Thursday announcing the Platinum and Gold find in SA (see below)

There is another drilling report on Madagascar next month

Why tomorrow?

This stock is so undervalued now! It went up 21% on Friday but you have not missed the boat. The market has to catch up on this large find.

Estimates on what the SP target is range from 80p to 250p but one thing is certain its worth more than 50p so a buy in now can't fail to produce profit.

Please DYOR but I have added 40% and intend to add again tomorrow.

90p Target price in the short term but might hold longer depending on other news

Nosedive

====================================================
RNS:

10 March 2005



AIM: JLP



JUBILEE PLATINUM PLC

('Jubilee' or 'the Company')

Drilling Intersects Merensky Reef on Tjate Project



Highlights



- Drilling intersects Merensky reef on Tjate Project in the Bushveld
Complex of South Africa


- High grade of 7.78g/t platinum group elements ('PGEs') plus gold (Au)
over a 1 metre reef width


- Platinum (Pt) to palladium (Pd) ratio of 1.8 to 1


- Associated 0.33% nickel and 0.19% copper grades


- In situ value of reef estimated at US$223 per ton rock at today's metal
prices


Jubilee and its partners in Tjate Platinum Corporation (Pty) Ltd ('Tjate') are
pleased to announce significant results from the first diamond drill hole DT1 on
Tjate's 2,162 hectare Dsjate farm 249 KT. Hole DT1 intersected the Merensky
reef (MR) at 868.5 metres. The assay results indicate a weighted average grade
of 7.78g/t 3PGE + gold - sometimes referred to as 4E - over a 1.0 metre reef
width, with associated 0.33 % nickel and 0.19 % copper. The indicated in-situ
value of this intersection is estimated at US$223 per ton of rock at today's
metal prices..


The weighted averages for the individual metals and in-situ values over the reef
section (868.46 metres to 869.45 metres) are as follows:



Platinum Palladium Rhodium Gold Nickel Copper

Assay 4.45g/t 2.49g/t 0.22g/t 0.62g/t 0.33% 0.19%

US$/t rock 125 17 11 9 55 6


Colin Bird, CEO of Jubilee/Tjate, said 'This is a milestone result in relation
to our Tjate acquisition, which provides Jubilee with a strategic interest in
what is believed to be one of the largest unmined blocks of PGMs in the world
close to infrastructure and mature mining operations. The grade and thickness
of the reef intersected confirms third-party predictions that the Tjate area
contains PGM values consistent with other operations in the area. We now intend
aggressively to continue the drilling programme in order to advance towards
feasibility study. The partners in Tjate have worked well together to establish
an early success for the first quarter.'


Vincent Phaala, Chairman of Tjate, said 'I am delighted that after completion of
legal formalities, the board and operators have moved so quickly to achieve
significant drilling results. We believe the Tjate farms represent a
world-class PGM resource and our tripartite alliance is an excellent example of
economic empowerment working to the good of all the parties.'


Jubilee, as project manager, elected to drill hole DT1 considerably downdip of
and stepped out from the eastern boundary of the farm to establish continuity of
reef, which the directors' believe subcrops at around the 650 metre contour at
the eastern boundary. The Dsjate farm is one of three contiguous farms in the
Tjate project, which comprises 5,143 hectares in total. The directors believe,
as advised, that the three farms are all underlain by the Merensky and the UG2
chromitite reefs.


From the depth of the intersection, and on the assumption that the reef
subcrops at a 650 metre contour at the eastern boundary, the directors believe
that the Merensky reef may dip flatter - at around 7 to 8 degrees to the west -
than that stated in the key assumptions and property description below. The
drilling results overall are consistent with, if not better than, those stated
in the key assumptions below: the 3PGE +Au grade reported for the Merensky is
higher than that stated below for 5PGE + Au.


Drilling of hole DT1 is continuing towards the projected UG2 chromitite reef,
the second PGE bearing reef in the stratigraphic sequence. Intersection of this
reef is expected in about two weeks, at some 350 metres below the Merensky reef,
and the results will be reported as soon as they are received. The Company
intends to wedge up to three deflection holes (about 100 metres) per reef to
allow multiple intersections on the reef from the 'mother' hole and so confirm
the immediate reef extension, grade and thickness from the initial intersection.


Jubilee has a strategic 25% stake in Tjate, together with an earn-in right to a
further 10% interest by expending ZAR14 million towards a bankable feasibility
study. The drilling programme is the first step in the feasibility study, which
will determine the potential mine size, capital cost of development and
operating costs. Jubilee is the project manager.


The key assumptions currently valid for the farms are as follows:


Property: Three contiguous farms: Dsjate 249KT; Fernkloof 539KS;
and Quartzhill 542KS


Property Area: Total 5143 ha: Dsjate (2,162 ha); Fernkloof (1,317 ha); and
Quartzhill (1,664 ha)

Property Location: On the eastern limb of the Bushveld Complex and immediately
downdip of Anglo Platinum's Twickenham and Impala Platinum's
Marula mines


PGM bearing reefs present: Merensky and UG2 Chromitite


Inferred Resource tonnage: 282 million tonnes


Inferred Resource grade: 7.25g/t (5PGM+Au) Merensky and UG2 weighted average
6.62g/t (5PGM+Au) for Merensky alone
Inferred Resource metal: 65.8 million oz (5PGM+Au)

Inferred attributable to Jubilee: 22.8 million oz (5PGM+Au) - after earn-in

Attributable valuation in situ: $13 billion
Basis per oz: Platinum $850; Palladium $180;
Rhodium $1500; Iridium $150;
Ruthenium $50; Au $400

Attributable market valuation: $171 million - based on l a market
valuation $7.50/oz


Property Description


The Tjate farms are largely underlain by rocks of the Main Zone of the Bushveld
Complex that dip gently around 11o to 13o towards the west.



Anglo Platinum is known to have drilled three diamond boreholes on the Dsjate
property and intersected the Merensky and UG2 chromitite reefs.



The outcrops of the two reefs are well mapped and the directors of Jubilee are
advised that there is little doubt that the three properties are underlain by
these economically important reef units.

This post has been edited by Nosedive: Mar 13 2005, 17:48

[Nosedive]

Tipsheet

"Peter Shearlock in his Small Cap stock tips has backed them in the following snipet.

"Jubilee – worth four times this price

The Jubilee Platinum share price shot up on Thursday and Friday, cementing a gain of just over 10p on the week to 38.75p. I would not normally rush into a share after such a run, but on this occasion it is merited.

On Thursday, Jubilee announced the results of the first drilling on its newly acquired Tjate platinum prospect in South Africa’s eastern Bushveld. Not only is the prospect located right on top of a continuation of the platinum-bearing Merensky reef but the platinum-bearing vein encountered is a good metre wide. Jubilee’s Colin Bird suggested the value of the find in the ground was $223 per ton of rock. That prompted the analysts to do the maths on what Tjate could be worth per Jubilee share. At Fiske & Co, they have come up with a figure of 150p.

Jubilee is a small company. Even after the run-up last week, it is capitalised at under £25 million. The impact of a decent find is therefore all the more marked. Just how good this find is we will not know for some time, though, on inferred reserves of 65.8 million ounces of platinum group metals (PGM) and some gold, Bird reckons Jubilee’s stake is worth $171 million at $7.50 an ounce. For reference, platinum fetches $870 an ounce at present, palladium $200.

More information should emerge in two to three weeks’ time. The company is continuing to drill on down in the hope of intersecting the region’s second major reef, known as UG2. This lies 350 metres below the Merensky reef.

In addition to Tjate, Jubilee has two other prospects in South Africa and a number of PGM and gold targets in Madagascar. The Londokomanana concession in Madagascar has already yielded encouraging PGM results. It is rumoured there is a major mining company that wants to farm in to the project. The gold prospect also looks exciting. A number of chip samples have thrown up massive grades of gold, though that does not necessarily mean there is a commercial find.

Things can still go wrong. But the balance of probabilities has swung dramatically in favour of a PGM mine in the past week. Despite the rise in the share price, it is still worth picking up some Jubilee at the current level with a view to following progress over the coming year or so. It could be an exciting time."

Nosedive

[Nosedive]

Starting up again and Madagasca result due this month. Volume building slowly and up nicely today

Nosey

[Nosedive]

Up slightly today, drilling report on Madagascar due in April so must be close

[demo]

two weeks old but always nice to see people adding:

Jubilee Platinum PLC
12 April 2005

AIM: JLP



JUBILEE PLATINUM PLC

('Jubilee' or 'the Company')

Holding In Company



The Board of Jubilee Platinum plc (the 'Company') received notification today,
in accordance with part IV of the Companies Act 1985, that there has been a
change in the holding of Fidelity Management and Research Company (FMRCO) in the
company's equity. Prior to the change, FMRCO held 4,475,000 shares
(representing 6.40% of the company's share capital). FMRCO currently own
5,337,821 shares in Jubilee Platinum plc, representing 7.63% of the issued
share capital of the company.

[Nosedive]

The 'find' that we heard about on March 10th RNS was considered to be nothing to what they 'think' is in the Madagascar project:

Jubilee announces findings from the geophysical survey on its Londokomanana concession in Madagascar, where it has recorded to date encouraging nickel, copper, platinum group metals (“PGM”) and gold values.

Colin Bird, CEO of Jubilee, said ”In progressing the logical process of geophysics following
geochemical sampling , these results confirm the potential size and continuity of
mineralisation as well as the appropriate and effective nature of gravity and IP-based
surveying as an exploration tool in this location. Our Londokomanana project is
demonstrating 22 kilometres of a highly prospective thick-width system. The more work we
do on Londokomanana, the more we see the project developing as a potentially world-class
nickel-copper-platinum deposit.”

Nosedive

[Nosedive]

Jubilee Platinum PLC
27 April 2005

27 April 2005



AIM: JLP



JUBILEE PLATINUM PLC

('Jubilee' or 'the Company')



Drilling Intersects UG2 Chromitite Reef on Tjate Project





Highlights



- Drilling intersects the UG2 Chromitite reef on Tjate Project in the
Bushveld Complex of South Africa



- High grade of 6.29g/t platinum group elements ('PGEs') plus gold
(Au)over 0.81 metre (apparent) reef width



- Platinum (Pt) to palladium (Pd) ratio of 1.3 to 1



- In-situ value of reef estimated at US$137 per ton rock at current metal
prices



Jubilee and its partners in Tjate Platinum Corporation (Pty) Ltd ('Tjate') today
announce further significant drill results from the first diamond drill hole DT1
on Tjate's 2,162 hectare Dsjate farm 249 KT. Following the intersection of the
Merensky reef at 868.5 metres (announced 10 March 2005), continued drilling of
hole DT1 intersected the UG2 Chromitite reef (UG2) at 1247.4 metres. The assay
results of the mother hole intersection indicate a weighted average grade of
6.29 g/t 3PGE + gold - sometimes referred to as 4E - over 0.81 metre (apparent)
reef width. The in-situ 4E value of this intersection is estimated at US$137per
ton of rock at current metal prices (as calculated on 22 April 2005).



The weighted averages for the individual metals and in-situ values over the reef
section (1247.59 metres to 1248.40 metres) are as follows:



Platinum Palladium Rhodium Gold

Assay g/t 3.09 2.44 0.68 0.08

US$/t rock 87 16 33 1



Colin Bird, CEO of Jubilee/Tjate, said 'We are very pleased that the results
achieved from this further drilling are again up to expectations. The grade and
thickness of the UG2 Reef intersection continues to confirm third-party
predictions that the Tjate area contains PGM values consistent with other
operations in the area. We have carried out three deflections: two on the
Merensky Reef and one on the UG2 Reef and will report the results of these as
soon as they become available.'



Vincent Phaahla, Chairman of Tjate, commented, 'I am most encouraged by the
continued drilling success, which confirms my long held conviction of the
property's potential. The results further strengthen my belief that the Tjate
farms represent a world-class PGM resource. We will now accelerate the drilling
programme to generate the necessary parameters for a pre feasibility study.'



Jubilee, as project manager, has decided to drill hole DT2 updip of hole DT1 to
establish continuity of reef, which the directors' believe subcrops at around
the 650 metre contour at the eastern boundary. The Dsjate farm is one of three
contiguous farms in the Tjate project, which comprises 5,143 hectares in total.
The directors believe, as advised, that the three farms are all underlain by the
Merensky and the UG2 chromitite reefs.



Jubilee has a 25% stake in Tjate, together with an earn-in right to a further
10% interest by expending ZAR14 million towards a bankable feasibility study.
The drilling programme is the first step in the feasibility study, which will
determine the potential mine size, capital cost of development and operating
costs.




For further information please contact:

Colin Bird Cathy Malins / Annabel Leather

Jubilee Platinum plc Parkgreen Communications Ltd

Tel: 07768 397 627 Tel +44 20 7493 3713


This information is provided by RNS
The company news service from the London Stock Exchange

[Nosedive]

Jubilee Platinum PLC
19 May 2005

AIM: JLP

JUBILEE PLATINUM PLC
('Jubilee' or 'the Company')


Deflection Results and Summary of Total Hole DT1 from Dsjate farm


Jubilee and its partners in Tjate Platinum Corporation (Pty) Ltd ('Tjate') today
announce the full results from the first diamond drill hole DT1 on Tjate's 2,162
hectare Dsjate farm 249 KT in the Bushveld Complex of South Africa.


Highlights:

• Deflection 1 on the Merensky Reef assayed 7.37g/t 3PGE (platinum group
elements) plus Au (gold) over an apparent width of 110cm

• Deflection 2 on the Merensky Reef assayed 10.95g/t (3PGE +Au) over
apparent width of 139cm

• The three intersections (motherhole plus deflections) assayed a weighted
average grade of 8.91g/t (3PGE+Au) over an apparent width of 116cm with
associated 0.33% nickel and 0.16% copper

• At today's metal prices the in-situ Merensky Reef is valued at US$235/t rock

• The deflection drilled in the UG2 chromitite reef ('UG2') assayed 5.89 g/t
(3PGE+Au) over an apparent width of 104cm

• The two UG2 intersections (motherhole plus the deflection) assayed a
weighted average grade of 6.01 g/t (3PGE+Au) over an apparent width of 93cm

• At today's metal prices the in-situ UG2 is valued at US$123/t rock

Colin Bird, CEO of Jubilee and CEO and Project Manager of Tjate said 'These
results are very pleasing in terms of both grade and width, which have more than
matched our expectations. There appears to be some degree of variability in
grade and width particularly in the Merensky Reef, a feature that may be a
characteristic of the reef in the region. Drilling of our second hole DT2,
up-dip of DT1, is well underway and total hole results as above will be reported
as soon as they become available. With further data capture we will commence
pre-feasibility studies in the summer.'


The detailed drill results are shown below:

Merensky Reef
Apparent 3PGE+Au Pt Pd Rh Au Ni Cu
width (cm) g/t g/t g/t g/t g/t % %

Motherhole DT1 99 7.78 4.45 2.49 0.22 0.62 0.33 0.19
First deflection 110 7.37 4.36 2.30 0.19 0.52 0.24 0.05
Second deflection 139 10.95 5.98 3.64 0.28 1.05 0.34 0.25

Weighted average 116 8.91 5.03 2.89 0.23 0.76 0.33 0.16



UG2 Chromitite Reef



Apparent 3PGE+Au Pt Pd Rh Au
width (cm) g/t g/t g/t g/t g/t

Motherhole 96 5.40 2.64 2.10 0.58 0.08
Deflection 90 6.66 2.98 2.95 0.63 0.10

Weighted average 0.93 6.01 2.80 2.51 0.60 0.10





The two deflection holes in the Merensky Reef are particularly interesting in
that mineralisation persisted over 3m with overall grades respectively of 4.20g/
t and 5.59g/t 3PGE+Au. Mining over such widths, together with reported low reef
dips of about 5 to 7 degrees, would potentially form a relatively low cost
operation.



The Dsjate farm is one of three contiguous farms in the Tjate project, which
comprises 5,143 hectares in total.



Jubilee has a 25% stake in Tjate, together with an earn-in right to a further
10% interest by expending ZAR14 million towards a bankable feasibility study.

[Nosedive]

Jubilee Platinum PLC
21 June 2005

21 June 2005



AIM: JLP

JUBILEE PLATINUM PLC
('Jubilee' or 'the Company')



Jubilee Completes Geophysics and Commissions Drilling On Promising Targets at
its Londokomanana Concession in Madagascar



Jubilee announces today the results of an induced polarisation ('IP') geophysics
programme over its platinum group metals ('PGM') -nickel ('Ni') -copper ('Cu')
Lavatrafo property in the Londokomanana region of the Mahajanga province,
Madagascar. This programme, comprising of gradient and dipole-dipole ('DPDP')
array surveys undertaken by Spectral Geophysics Ltd, is a follow-up of the
gravity survey programme over the same area announced on 28 January 2005. The
survey commenced in May 2005 and field work terminated on 11th June 2005.



Significant highlights, indications and inferences arising from the survey were:



• a geological model is developing whereby the previously identified
PGM-Ni-Cu mineralisation in Lavatrafo is located at the contact between zones
of near zero chargeability and high chargeability respectively (as derived
from gradient array IP);



• that the DPDP array chargeability anomaly correlates directly with the
high PGM-Ni-Cu values obtained in trenching by Jubilee and with associated
disseminated sulphides intersected in an earlier but believed to be incomplete
drilling by the Bureau de Recherche Geologiques et Minieres (BRGM);



• that applying the above geological model, based on the mineralisation
and geophysics identified in the Antsahabe region which are now believed to be
similar to that at Lavatrafo, leads to a potential for some 27 kilometres of
PGM-Ni-Cu mineralisation.



Colin Bird, CEO of Jubilee, said: 'This was a very productive geophysics
programme as we believe we now have a better understanding of the mineralisation
in Londokomanana and our analysis indicates the potential for at least 27
kilometres of PGM-nickel-copper mineralisation. This moves the project towards
being a world-class resource. We have reached an important stage for our first
Madagascan project and on the basis of our model have commissioned a 2000 metre
drilling programme to commence immediately.'



Cas Lotter, managing director of Spectral Geophysics, reports as follows:



'The results of an orientation DPDP array IP survey conducted over BRGM borehole
LVF C8, indicated that the intersection of high PGM grades is located at the
contact between zones of practically zero chargeability and high chargeability.
The IP response is diagnostic to the extent that gradient array IP was used to
map 5.5 kilometres of contact zone, distributed over four NNW-SSE striking
ultramafic 'packages' or lenses.



'The disseminated sulphides intersected at the bottom of LVF C8 correlate
directly with high DPDP chargeability values. Quantitative modelling of the
DPDP data indicates that the borehole did not completely penetrate the
chargeable body. The high Cu-Ni values obtained in a trench dug along the trace
of LVF C8 can be directly correlated with the derived body of high
chargeability.



'Similar DPDP array responses were obtained over the contact zones of all four
of the ultramafic lenses investigated. In some cases both the western and
eastern contact zones appear to be prospective for disseminated sulphides.



'A number of isolated zones of high chargeability were detected at depth,
outside the ultramafic lenses. The sources of these anomalies will be drill
tested during the forthcoming drilling project.



'The results at Lavatrafo have also led to a better understanding of the
geophysical response obtained in the MAB* area. A number of areas, which were
previously not considered for follow-up, have been selected for more detailed
investigation, based on the Lavatrafo results.'



* MAB Mavoandro-Antsahabe-Borokely



Spectral Geophysics, a geophysical consulting and contracting company based in
Gaborone, Botswana, has more than 20 clients, including Rio Tinto, BHP Billiton
and Barrick Gold, and extensive experience throughout Africa.



The Londokomanana project is located approximately 150 kilometres north of the
Madagascan capital Antananarivo.

[Nosedive]

AFX


LONDON (AFX) - Jubilee Platinum PLC said it has commissioned a 2000 metre drilling programme to start immediately on its Londokomanana Concession in Madagascar after completing a 'very productive' geophysics programme.

Chief executive Colin Bird said analysis indicates the potential for at least 27 kilometres of PGM-nickel-copper mineralisation. This moves the project towards being a world-class resource, he said.

[nimzoi]

Despite all the "good news" they are now only 33 ish. Any idea why?

[Nosedive]

Takes time to get noticed nimzoi and they are not producing yet but word around the city is good and they are now tipped in IC etc.

If you want to get in at the bottom though you have to take your chance that a company like this will get on some radars and this one is certainly getting noticed now. Ticking up nicely as I type and I reckon 40p plus within two weeks

Nosedive

[Nosedive]

Unless Rio Tinto in the next canyon make JLP an offer... then we will see the SP move

Nosey

[Nosedive]

Despite the flat trend with this share, I am still optimistic that this will pay handsomely. The news has only been good and they are drilling away there in South Africa and Madagascar. I predict that before the end of this year this will rocket.

However patience is required with this one.

Don't hold - yet
Nosedive

[demo]

I think you're optimism is justified ND, and i'm already in - but like you say there's not alot of fireworks at the moment, then again everything is pointing to a healthy rise at somepoint, it's not if, it's when!

[Nosedive]

Agreed Demo I am not holding at the moment but I hope to have cash to get in before the inevitable RNS on Tjate.

It will be too late once it breaks

Nosey

[Iainmac23]

Thought i would try and get the discussion on JLP back up and running. Since the last post a lot has happend.I have been holding since April 2005 and have watched this one all the way.To many RNS announcments to post, but look back through them and you will see how exciting a share this is.Still feel their is more left in the tank for JLP and would be good to know if there are any other holders on the forum.

But please DYOR

[lob_on]

i have been lurking on here for a very long time and have made this my biggest hold.
just wondered what papalpower thinks about this share?

as i had a great return from achl 30% (sold now 1.72)and in eka (still holding) . as i see it these are a very early eka with interesting neighbour bhp billiton eyeing up jlp. who have first option on jlp piece of the action. think they have that option till april.
they have loads of similarities to eka but not the sp just yet!!

[LordGnome]

Still holding and made this one of my picks for Saucepan's share competition for 2006. This is a firm hold for me with a long way to run. A positive RNS about a tie-up with BHP could put this into orbit by the end of April. Exciting times - wish I had a whole lot more!

[lob_on]

yeah i got myself tied up with stuff i , hopefully will take off!


eka
ebt
csh
mrp
scr
jlp
doo

[lob_on]

nice little 5% rise today

[Red Ninja]

S.African Implats, Miners Swept Higher on Lonmin
Fri Feb 17, 2006 6:08 PM GMT

JOHANNESBURG (Reuters) - South Africa's Impala Platinum (IMPJ.J: Quote, Profile, Research) stormed higher on Friday, leading a rally in South African mining stocks as investors bet on a surge in takeover activity.

The gains were sparked after platinum miner Lonmin (LMI.L: Quote, Profile, Research) (LONJ.J: Quote, Profile, Research) said it had been approached with a possible bid and its shares rocketed 28.6 percent to 285 rand.

"The Lonmin deal has triggered a massive pile-in as everybody tries to second-guess who will be next on somebody else's shopping list," said Ryan Wibberley at Investec Securities.

Implats, the world's second biggest platinum producer, soared 15.4 percent to close at a fresh all-time high of 1,160 rand while top-ranking Anglo Platinum (AMSJ.J: Quote, Profile, Research) surged 9.8 percent to finish at 505 rand.

Wibberley said Implats was probably not a bid target, but got caught up in the excitement. "We think it's unlikely, Impala is just being swept up in it," he said.

More likely consolidation targets were smaller players such as Aquarius Platinum (AQP.L: Quote, Profile, Research)(AQPJ.J: Quote, Profile, Research) and Northam Platinum (NHMJ.J: Quote, Profile, Research), which shot up 7.7 percent to 70 rand and 8.5 percent to 28 rand respectively.

Traders and analysts said market dynamics also played a part, since recent declines in mining stocks had gone too far.

"The market's volatility has been huge and we've become oversold so the market was poised for a rally and needed some news and some trigger," said Ferdi Heyneke, portfolio manager at AfriFocus Securities.

Some players who had taken short positions hoping for further declines were probably caught on the wrong side of the market, Wibberley said.

"When it turned so quickly and so dramatically, I think there was a short squeeze, that is part of the reason why it is up so ridiculously."

Investors scrambled after most mining stocks, including gold producers such as Harmony Gold, which raced 8.3 percent higher to 94.59 rand and iron ore producer Kumba (KMBJ.J: Quote, Profile, Research), which jumped 7.4 percent to 110 rand.

Kumba, Africa's biggest iron ore producer, posted a more than tripling in 2005 headline earnings per share on Friday on the back of record sales and buoyant metal prices.

Diversified mining groups also joined the party, with Anglo American (AGLJ.J: Quote, Profile, Research) skating 7.3 percent higher to 226 rand and the world's biggest miner BHP Billiton (BILJ.J: Quote, Profile, Research) pushing up 5.6 percent to 105 rand.

Even gold producer Western Areas (WARJ.J: Quote, Profile, Research), which posted a fourth quarter loss on Friday after a profit in the previous quarter, skipped 6.8 percent higher to 39.50 rand.

In the minus column, health insurer Discovery (DSYJ.J: Quote, Profile, Research) slipped 0.6 percent weaker to 24.85 rand after it said first-half headline earning per share would fall by up to 20 percent due to a tax charge on a recent black economic empowerment deal.

But the few losers failed to dent the overall market.

The top 40 index <.JTOPI> of blue chips marched 4.3 percent higher to 17,484.22 points, the biggest percentage gain in over three years -- since December 2002 -- according to Reuters data.

The all share index <.JALSH> gained 3.88 percent to 19,389.32 points.

[Red Ninja]

JLP to explore another Platinum prospect :-

                          JUBILEE PLATINUM PLC
                          ('Jubilee' or 'the Company')

        Jubilee Acquires 70% Option in Prospective New Platinum Project


Jubilee today announces that it has agreed terms for a Joint Venture with MSA
Projects (Pty) Ltd ('MSA'), which will allow the Company to earn a minimum of
70% interest in the prospective Grass Valley Platreef project in the northern
limb of the Bushveld Complex. The earn-in option is valid over a period of 33
months, mainly through the funding of exploration by its wholly owned subsidiary
Windsor Platinum Investments (Pty) Limited ('Windsor') and the staged issuing of
Windsor shares to MSA.


Highlights

•    Jubilee acquires option to earn-in to a 70% interest in the Grass Valley
    platinum group metal (PGM) project in the northern limb of the Bushveld
    Complex

•    The 663 hectares project, represents possibly the last remaining
    untested block of Platreef ground in the Bushveld Complex

•    Five kilometres of potential Platreef identified in outcrop

•    The project is located between exploration successes including the War
    Springs, Rooipoort and Volspruit deposits

•    Open-pittable PGM deposits predominate on the Platreef

•    The project has Prospecting Rights and is drill ready

The terms of the Joint Venture give Windsor the right to undertake an
exploration programme including drilling, for which prior to commencement
Windsor will pay MSA ZAR140,000 and Jubilee will grant MSA a five-year option,
from date of the issue of the prospecting right, to subscribe for 500,000 shares
in Jubilee at the share price plus 15% prevailing at the time of subscription.
After commencement of exploration, Windsor will earn-in to up to a 70% interest
in the project by funding the programme in stages and by the issuance of Windsor
shares to MSA. The issue of Windsor shares to MSA will depend on the level of
exploration funding committed by Windsor and the technical/commercial success of
the various exploration stages.  MSA will have the right to convert the Windsor
shares to Jubilee shares up to a maximum of 5,500,000 Jubilee shares.

Jubilee and MSA support both the philosophy and intentions of the Mineral and
Petroleum Resources Development Act (MPRDA) and the Mining Charter of South
Africa and the agreement makes provision for a suitably qualified Black Economic
Empowerment partner.

Colin Bird, Chief Executive for Jubilee said:  'This position is a major step
towards securing an open-pittable resource in the northern limb of the Bushveld
Complex. The strike length of this resource is considerable and we intend to
progress work on this target quickly. Soil geochemistry on the property and the
mineralisation on the surrounding farms indicate a drill ready target. The
shares issued to MSA will be against project success and thus for the Company
there is significant mitigation of both technical and financial risk.'

The 663 hectares Grass Valley Platreef project, which represents possibly the
last remaining untested block of Platreef ground in the Bushveld, is situated
just south of Mokopane (formerly Potgietersrus), squarely between the Platinum
Group Metals' War Springs deposit, Caledonia's Rooipoort deposit and the Pan
Palladium Volspruit deposit.

Approximately 5 kilometres of potential Platreef outcrop have been identified
through a geochemical soil-sampling programme undertaken by MSA during 2004. A
comprehensive diamond-drilling programme is currently being designed to drill
test these anomalies and will form the basis of initial resource estimates. The
initial phase of diamond drilling is planned to start during the first quarter
of 2006.

The Platreef is a wide platinum bearing reef occurring along approximately 100
kilometres of outcrop on the northern limb of the Bushveld Complex. This open
pittable reef zone has been the focus of significant and well publicised
exploration during the past five years, with companies such as Angloplats,
Anooraq, Ivanhoe, Platinum Group Metals, Pan Palladium and Caledonia having
embarked on extensive and successful drilling programmes in the zone.

One of the major benefits of this wide reef zone in general is that, in addition
to significant contained platinum and palladium, there is also substantial
associated nickel and copper credits, making the Platreef an exciting, low-cost,
polymetallic prospect.

[Red Ninja]

"Jubilee Platinum can't seem to sit still. The latest deal put together by chief executive Colin Bird gives the company exposure to what's known as the "northern limb" of South Africa's prodigious platinum producing Bushveld region. This is on top of its projects on both the west and the eastern limbs, and its involvement in opening up a new platinum province in Madagascar.

The new project at Grass Valley in South Africa looks decent enough, although early stage. Platinum mineralisation is at the surface and, according to Mr Bird, the whole area might yield up to 4m-5m ounces. And with platinum prices riding high and bid speculation rife among the majors, there's no better time to be picking up new assets. As far as Jubilee is concerned, though, what's really generating the interest is the Madagascar property, where the company has a sizeable landholding. A joint-venture deal there looks likely sooner rather than later. In the meantime, the company has managed to generate an unlikely profit - booked as a result of an investment by South Africa's New Africa Mining Fund - which, under the terms of South African law, initially took the form of a loan. Post the period-end, Jubilee raised £1.5m through a convertible loan note, exercisable at 70p a share and carrying an 8 per cent coupon, which increased its cash pile to £5.3m."

IC VIEW - FAIRLY PRICED

[Red Ninja]

Resource Investor speculates :-

Jubilee May Be on the Cusp of Something Major in Madagascar

By Stephen Clayson
09 Mar 2006 at 03:00 PM EST


LONDON (ResourceInvestor.com) --Jubilee Platinum [AIM:JLP] was one of the first companies to begin exploring Madagascar’s mineral potential, which had until recently been rendered off limits by the Indian Ocean island’s politics. Even though others have since moved in, Jubilee’s early presence has allowed it to get its hands on some prime ground, the substantial potential of which is now becoming apparent. 

Jubilee has three projects in Madagascar, Londokomanana, Ambodilafa and Lanjanina, all predicated on PGM-nickel-copper prospectivity. The most advanced of these, Londokomanana, is currently undergoing early stage drill testing. The three holes drilled so far have resulted in excellent grades, the best hole yielding a 2.21% copper equivalent figure after assays for copper, nickel, platinum, palladium and gold. The intersections from these three holes have been broad and shallow, indicating that Londokomanana could be a candidate for low cost bulk mining methods.

 


But it is the Ambodilafa project that perhaps looks most promising. A recent aeromagnetic survey, funded, somewhat tellingly, by BHP Billiton, outlined clearly a 2km by 4km anomaly, and the hope for Jubilee is that this represents a very large deposit. The prize being sought is the same at Ambodilafa as at Londokomanana; shallow depth and broad intersections translating to the low cost bulk mining of high value ore.

Jubilee is now at something of a crossroads as regards Ambodilafa. To test such a large anomaly expeditiously requires a lot of expenditure, and although this has the potential to add a great deal of value to the project, it also constitutes a sizable risk to a smallish company. This is because funds would have to be diverted to Ambodilafa from Jubilee’s other projects, meaning that disappointing results, almost always damaging to the market reputation of a junior, would be an especially severe setback.

However, such disappointment would be a mere trifle to a major, and hence Jubilee finds itself in a quandary. It could defray some of this risk by bringing a major as a joint venture partner, quite possibly BHP Billiton [NYSE:BHP; LSE:BLT] given the interest already shown by that particular major, in order to fund drill testing of the Ambodilafa anomaly, but by doing so would give away some of the project’s upside potential.

But there is another way. Jubilee could raise funds by spinning out Ambodilafa, Londokomanana and Lanjanina into a new listed vehicle in which it would maintain a sizable stake, preferably a majority. Jubilee’s shareholders would benefit from the extra fundraising capacity that a separate listed vehicle would bring, and by being to an extent insulated from the risks of the Madagascan projects whilst retaining overall control of them.

This is a strategy that is rightly in vogue, and is something that Jubilee should consider. Of course though, one of the majors could at any time mount a takeover bid for Jubilee or indeed for such an exploration vehicle, and some shareholders would view this as a good thing, providing them as it would with a tidy exit.

An outcome like this might even become more likely if Jubilee were to spin out its Madagascan interests, as it would allow a major to cherry pick these assets, which are exactly the sort of thing that the majors are currently interested in, as opposed to being landed with Jubilee’s other projects, which whilst having their virtues, are not of the same allure. 

This leads nicely on to the question that readers will probably already be asking: if Jubilee spins out its Madagascan exploration projects, then what is it left with? The answer is that Jubilee would hang on to its South African platinum group metal (PGM) assets, the most significant of these being the Tjate property, early drilling on which has intersected both the Merensky and UG2 PGM reefs at depths and widths that may be feasible to mine. The company also recently announced the acquisition of another property on South Africa’s Platreef.

A spin out of Jubilee’s Madagascan interests could provide these and the company’s assets in South Africa with an enhanced development platform by facilitating greater concurrent expenditure in each country, and to boot would give investors the choice between being exposed to both sets of projects, or concentrating their exposure on the high impact plays in Madagascar. But even in Jubilee’s present configuration, its shareholders are endowed with significant upside potential, as well as being in line to benefit from the implementation of any of the strategic options discussed herein.

[Red Ninja]

Jubilee sposered research update :-

Jubilee Platinum

We published a major note on Jubilee on 31st January, a copy of which can be obtained by emailing stephanie@tisl.co.uk There has been little to add to that story during February but that does not mean that the story is any less exciting for that.

Run by mining veteran Colin Bird with Malcolm Burne of Golden Prospect on board as chairman, AIM listed Jubilee Platinum has potentially company making prospects in two countries but it is Madagascar where the real excitement lies.

On 24th February the company published results for the six months to December 31st. The loss was, as
Key Data
EPIC JLP
Share Price 66.5p
Spread 66p-67p
NMS 5,000
Market Cap. 46.3 million pounds
12 Month Range 31p - 76.5p
Market AIM
Website www.jubileeplatinum.com
Sector Mining Exploration
Contact CEO Colin Bird
0207 584 2155


expected, 274,000 pounds at an operating level. Headline numbers were distorted by one-offs. The only number that really matters was a reminder that, as at the end of February, Jubilee had net cash of 5.3 million pounds. There was nothing new to report at an operational level although three days earlier Jubilee had announced that on partnership with MSA Resources, it had acquired new PGM exploration acreage at Grass Valley in the Northern Bushveld.

In South Africa the company has a 25% increase in the Tjate Platinum Group Metals (PGM) project which will increase to 35% if Jubilee spends a further 1.2 million pounds towards a feasibility study. That study should happen this year after yet another successful hole was announced on 2nd February. The company's (unstated) intention at Tjate must be to continue its drilling to a stage where it can either sell - or co-venture the property with the owners of the producing mines on the neighbouring farms, namely Impala and Anglo. It is becoming increasingly apparent that the Tjate farm contains a structure which is both commercial in its own right but also an extension of the structures on those neighbouring farms. It is therefore very likely that a deal will be done but as each successful round of drilling is undertaken at Tjate the negotiating position of the Tjate consortium becomes stronger.

In Madagascar the newsflow is even more exciting. On the Island Jubilee has a number of permits where it has located gold (at Bebasy) but of more significant are its nickel, copper and PGM deposits notably at Londokomanana. On 4th January , Jubilee said that a drill hole at Antsahale (hole ANT1) had encountered a 48 metre wide strike with 2% copper equivalent. This is at the northern end of the Londokomanana concession and mirrors results of drill holes at the southern end, suggesting that the strike could easily be more than 20 km long and therefore commercial. More drilling is needed.

On 8th December Jubilee announced that the airborne survey conducted by BHP and paid for by BHP on Jubilee's Amodilafa prospect had detected a 40 metre thick anomaly. Subsequent work on the ground verified this finding and drilling on this prospect should now take place soon. Jubilee is now in a very strong position to conclude an attractive farm-out deal on that acreage. BHP is not the only interested party.

The prospect of a big name farm-in is looking ever more likely but, with net cash of 5.3 million pounds, Jubilee is in no rush to sell out cheaply.

Jubilee has sufficient cash to continue an aggressive drilling programme for at least another 15 months. Our initial valuation of Jubilee when we initiated coverage in December 2004, at 27.25p, was 126p per share but we have now increased that valuation to 216p per share and our stance, at 66.5p, remains "strong speculative buy''.

To meet Jubilee Platinum's senior management at Master Investor click here



Year to
30 June Sales
(million pounds) PTP
(million pounds) EPS (p) CFPS (p) DPS (p) PE Ratio Yield (%)
2005A - (0.33) (0.45) - - - -
2006E (0.75) (0.65)

[lob_on]

big end of day trades , coming in for this and up 5% on the day . well on the way to 80p tmrw.... of which i think it will open around 80p mark.

should be a fun ride and very confident of a nice success here. get on the jlp bus is leaving shortly

[Nosedive]

Ah! the one that got away :'( But could still have a lot further to go

[LordGnome]

Nosey et al. This became a bagger for me today. Believe me, there is still a long way to go and it could easily double again from here. I am staying on for the ride.

[Iainmac23]

Likewise LG this share is now reaching bagger status for me.Although there hasnt been much news recently to follow the recent jump in share price i expect a bullish trading statement very soon!Glad to have brought the discussion of this one back as i feel there is still a long way to go for JLP.

Heres Hoping Please DYOR