Here a question to JBL from one of their shareholder and the...

Here a question to JBL from one of their shareholder and the reply from the company. Obviously JBL management dancing on the deal. As I mention before without this deal would take them 10 years before they can leave the explorer status and make any money.



I was deeply disappointed with content of the RNS issued by Jubilee yesterday. The content, ambiguity , lack of clarity and poor wording has now directly contributed to a devaluation of my stock

The BOD need to rectify the situation with a re-issued RNS as soon as possible.

Response:-
Following your query it must be noted that the clarification note contains no material change from the main announcement and simply seeks to clarify the mechanism of calculating the ratio of Jubilee shares to be issued for PLA shares as well as clarifying that the debt estimate is as expected at the end of the transaction rather than currently held in PLA . The current debt in PLA is significantly less and neither clarifications can be construed as material nor misleading to shareholders.

The market response to the announcement indicates a complete lack of appreciation of the quality of assets that have been target and the significant impact these assets have on the stated business plan of Jubilee and is something we note and take very seriously. An action plan has been undertaken to more formerly educate the shareholders on the proposed transaction and the effect of which will be in the media shortly.

In essence the transaction forms a fully integrated platinum mining company who's operations are based on shallow near surface mining operations circumventing the challenges of deep platinum mining currently challenging the industry's ability to deliver platinum profitably. This is a position that would take Jubilee many years (in excess of 5 years) to achieve from its current assets and would cost a significant multiple more than the value placed on PLA to establish the mining and processing infrastructure associated with the Smokey Hills Mine.

It means that Jubilee is able to transform itself from an exploration and smelting company to a company holding world class exploration assets in Tjate and two near surface (fully drilled) properties, complimented by a fully operational mine and processing plant together with an operational smelting plant. A feat that no other junior platinum company has achieved in the industry.

We acknowledge that a great effort has to be focussed on further communications to the market for shareholders and the market at large, to appreciate the significance of the transaction.