Jubilee Platinum has announced plans to raise £11 million to fund its bankable feasibility study at its Tjate operations.

The junior platinum miner, which is listed on the JSE, is preparing to raise the money through the placement of 13 million shares.

The listing, which is expected to take place on November 12th, will equate to 14.8 per cent of the company's current issued share capital, Mining Weekly reports.

Jubilee Platinum explained that the money raised would be put into the bankable feasibility study at its Tjate project, which the company believes can offer a resource of 65 million ounces of platinum group metals (pgms) and gold.

It is understood that the mining firm will place the shares at an issue price of R12.50 per share on the JSE, while placing them at 89p a share on the Aim market on the LSE.

Source:

Jubilee Platinum will raise £11m to fund Tjate bankable study, 7/11/07
http://www.miningweekly.co.za/article.php?a_id=120712

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