Jubilee in talks over R255m debt facility

Following dual-listed Jubilee Platinum’s announcement that it is in advanced talks for a debt facility to fund the bulk of the R346-million needed to bring its two surface platinum processing plants into operation, the mine-to-metals specialist’s JSE share price on Tuesday afternoon contracted nearly 8% from an earlier 10% surge, before stabilising at around 90c a share. Jubilee, in a market update to shareholders following the rise in the share price, confirmed that it had sought a R255-million debt funding facility with a major financial institution, with the funding shortfall expected to be covered by the proceeds of the sale of its nonplatinum assets.