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Jubilee Platinum PLC Updates On Proposed Merger Transaction With Platinum Australia Ltd


Wednesday, 16 Jan 2013 07:45am EST 

Jubilee Platinum PLC announced that with reference to the proposed business combination or merger (the Proposed Transaction) with Platinum Australia Ltd by way of a proposed Scheme of Arrangement, the Parties have agreed to extend the binding and exclusive terms of the Heads of Agreement to January 28, 2013 (Extension Period). Under the Proposed Transaction, Jubilee will secure the terms of a funding package to reinstate operations at the near surface Phokothaba Mine, currently placed under care and maintenance by Platinum Australia. Jubilee has secured indicative terms sheets for the project financing structure from financial institutions and will work towards concluding the funding structure within the Extension Period. 

Company Quote

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6:17am EST