Jubilee Platinum has announced that it will take a secondary listing on the JSE this week.

The minerals exploration company has revealed that it is to become the exchange's second platinum listing this year and it will also be the fourth resources company to take up a listing on the JSE in the past six weeks.

Chief Executive Colin Bird explained that the reason for the listing was so that it could issue shares in South Africa to allow vendors to participate in the development of the company.

However, in an interview with Business Day, Mr Bird added that the company was not motivated by a need for additional funds, as the company currently has £5.5 million in cash.

Mr Bird added that he expects to see consolidation in the South African platinum sector during 2007, although he would not be drawn on whether he considers Jubilee Platinum to be a potential target or acquirer.

Jubilee Platinum's secondary listing on the JSE comes following the success of Eland Platinum, which listed in March earlier this year and has seen its capital raising almost five times oversubscribed.

Ÿ Adfero Ltd