Jubilee Platinum has reported a positive completion to its scoping study on its Tjate project for a stand-alone underground mine.

The study - covering 15 per cent of the 5,143 hectares Bushveld project - reveals a positive base case internal rate of return of 22 per cent for an initial investment of US$400 million.

It is estimated that the Tjate project will be able to produce 262,000 ounces of pgms plus gold a year.

Jubilee chief executive Colin Bird said: "We are delighted to have completed a positive scoping study for the Tjate project, which indicates a very favourable return for Tjate developed as a stand-alone mine.

"As we now move towards the preparation of a bankable feasibility study, engineering optimisation should continue to improve the project's economic returns."

He added that it was positive to note that the study is based on only 15 per cent of the whole area.

"Therefore, considerable scope exists downdip of and laterally from the current resource area and we believe there to be excellent potential for further significant production expansion."

Jubilee currently has a 48 per cent stake in the Tjate project, and an option to buy a further 15 per cent.

Sources:
JBL - Jubilee - Positive Scoping Study Completed For The Tjate Project
06/07/07
http://www.fin24.co.za/articles/displaysens.asp?articleid=358385&Ticker=JBL  

Jubilee sets out to prove second platinum mine at Tjate
07/07/07
http://www.mineweb.net/mineweb/view/mineweb/en/page35?oid=21913&sn=Detail


Ÿ Adfero Ltd