Jubilee Metals' : value rockets as production, cash and profits all surge higher

The company's expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals ('PGMs'), chrome, lead, zinc, vanadium, copper and cobalt.

Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF)reported higher revenue, lower profit but stable cash flow as it navigated a year when the basket of platinum group metals (PGM) prices dropped sharply.

The company countered the fall in PGM prices by expanding its chrome operations into higher-margin offtake agreements, resulting in a £12.5 million cash position at year end and strong cash generation of £31 million.

Record productionof PGM, chrome and copper in the year to June led to revenue from operations increasing 1% to £142 million (down 8% in dollar terms to US$171 million) with growth in USD chrome revenue mostly offsetting the market price effect on PGM sales.

The average PGM basket prices decreased 22% to US$1,262.

Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF)'s share price nudged 3% higher in early trading after an upbeat operational update.

Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF)is on an "exciting growth path", according to chief executive Leon Coetzer, as the metals group updated on its chrome joint venture in South Africa and the growth of its Roan Concentrator in Zambia.

On the former, the company said it has successfully upgraded and commissioned a brownfield processing facility on the western limb of the Bushveld Complex, achieving its targeted operational output.

Jubilee Metals Group PLC(AIM:JLP,FRA:JI5,JSE:JBL,OTC:JUBPF) has done "a great bit of business" according to stockbroker WH Ireland, which sees a compelling investment case for the miner following its latest deal.

The company today announced it has agreed to work with Mopani Copper Mines PLC, a subsidiary of ZCCM Investment Holdings PLC, to create additional copper and cobalt refining capacity in Zambia.

Under the project, Jubilee will be able to refine the copper and cobalt concentrate produced at its Kitwe and Luanshya copper and cobalt tailings in Mopani's processing facilities.

Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF)CEO Leon Coetzer speaks to Proactive's Thomas Warner after releasing an update on the metal recovery business' chrome joint venture in South Africa as well as an update on the expansion of its Roan Concentrator in Zambia.

Coetzer talks through the company's progress and achievements over the six months since the most recent update, highlighting the expansion of the company's South African chrome operations, which exceeded expectations by adding 60,000 tonnes of capacity in just four months. The expansion is projected to boost group revenues by approximately $45 million.

Coetzer also discusses the company's strides in the copper sector, particularly its groundbreaking waste-to-copper project in Zambia. The southern copper refinery is on track, and Jubilee Metals is scaling up its efforts to extract copper from historical tailings, a strategy poised to yield substantial results.

Add related topics to MyProactive

This record is published on behalf of Jubilee Metals Group PLC, which is a paid client of ProactiveInvestors. You understand that ProactiveInvestors receives either monetary or...

ProactiveInvestors is a publisher. You understand and agree that no content in this record or published on ProactiveInvestors' website (the "Site") constitutes a...