Jubilee Platinum said it had acquired a producing chrome operation in South Africa from PlatCro Minerals for £8.6m.

The deal would be funded via a cash payment of $2.8m, securing product financing of $6.0m and the issue of around 52.5m new Jubilee shares at 2.5p each.

'This transaction repositions Jubilee in the chrome and platinum arena in South Africa,' chief executive Leon Coetzer said.

'The acquisition comes along with intellectual property rights and rights to the existing surface material already exceeding 1.8m tonnes.'


At 1:51pm: (LON:JLP) Jubilee Platinum PLC share price was -0.2p at 2.45p