Jubilee Platinum's exploration expenditure halved in 2006 as investment was shared with its joint venture partners.

The firm is currently undertaking exploratory work at its flagship Tjate mine in conjunction with Impala Platinum, which once fully operational is expected to produce 262,000 ounces of platinum group metals and gold annually.

News of developments at the Tjate project came as Jubilee Platinum announced that it recorded losses of R25 million during 2006, compared with R10.6 million for 2005. The performance equates to a loss of 28 cents per share - up from a loss of 11.92 cents for the previous year, Mining Weekly reports.

The firm's performance was hit by a one-off charge for its listing on the Johannesburg Stock Exchange and a further share-based accounting charge.

Earlier this month, Jubilee Platinum and its joint venture partners Impala Platinum confirmed the approval of a budget of $8.96 million for phase two exploration at the Ambodilafa nickel, copper and platinum project in Madagascar. Previously, Impala Platinum had been providing full funding.

Sources:

Jubilee widens loss on once-off costs, 17/09/07
http://www.miningweekly.co.za/article.php?a_id=116941

Funding for Phase Two Exploration at Ambodilafa Project, Madagascar
http://www.jubileeplatinum.com/releases/ambodilafa_phase2_exploration_060807.pdf

Ÿ Adfero Ltd