Acquires 100% ownership of Pollux

JUBILEE Platinum has acquired 100 percent ownership of subsidiary Pollux, the holder of the platinum group metals recovery right for the Dilokong Chrome Mine in Limpopo. The dual-listed firm said yesterday it had taken full ownership after entering into a Sale of Shares Agreement with Emerald Panther Investments 48 Proprietary to acquire its entire holding or R3.5 million worth in shares. Jubilee chief Leon Coetzer said: “The resultant increase in the DCM Platinum Recovery Project offers tremendous upside value and it is opportune to be able to maximise beneficial interest in Pollux at this stage of the project. Shares rose 4.35 percent to close at 24 cents yesterday. – Dineo Faku