Jubilee Platinum in advanced talks over project financing

4th Aug 2015 14:13

(ShareCast News) - Jubilee Platinum confirmed on Tuesday it is in advanced talks with a major financial institution to secure the financing required to bring its two surface platinum processing plants in South Africa into operation.The company said the debt funding of around £12.9m before financing costs has received credit approval, in principal, from the targeted major financial institution, but there is no guarantee it will be successfully completed.Chief executive Leon Coetzer said: "The company continues to drive hard the time lines of both Platinum Surface Projects aim for the commissioning of both project in June 2016."At 1317 BST, shares were up 7% at 4.95p.