https://www.miningweekly.com
Financial|Platinum|PROJECT|Projects|Operations
Financial|Platinum|PROJECT|Projects|Operations
financial|platinum|project|projects|operations

Jubilee achieves positive results in interim period

28th March 2019

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

AltX- and Aim-listed Jubilee Metals Group on Thursday posted a lift in earnings for the six months ended December 31, as the Hernic operations, in Limpopo, continued to deliver strong operational and financial results.

The group achieved earnings a share of 0.06p during the half-year under review, compared with the loss a share of 0.025p in the comparative period in 2017.

“This interim period has delivered exceptional results with much activity settling down developed projects, negotiating new projects, raising the necessary finance and increasing production productivity,” Jubilee nonexecutive chairperson Colin Bird said in an update to shareholders.

Jubilee reported profit for the period of £760 000, a 274% surge on the loss of £440 000 during the interim period the year before, while gross profit jumped 71% to £4.04-million.

Revenue was up 39% to £8.33-million during the six months to December 31, while cash generated from operations increased more than fourfold to £1.17-million.

“The results for the period under review highlight Jubilee’s continued growth in earnings as Hernic continues to deliver strong operational and financial results, which will be further supported by the acquisition of the PlatCro chrome operations and the commissioning of the Dilokong Chrome Mine (DCM) fine chrome project,” he said.

During the six months to December 31, the company’s platinum group metals (PGMs) production increased by 85% to 12 288 oz, compared with the 6 629 oz achieved in the comparative period the year before.

PGMs revenue increased by 98% to £7.09-million, while PGMs operational earnings were up 180% to £4.09-million.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.128 0.164s - 103pq - 2rq
Subscribe Now