Jubilee Metals reports strong first-half performance across all operations; eyes future growth
–News Direct–
Jubilee Metals Group (AIM:JLP, JSE:JBL, OTC:JUBPF) CEO Leon Coetzer shares insights into the company's positive performance in the first half of the year in an interview with Proactive's Stephen Gunnion.
Despite pressure on platinum group metals (PGM) prices, Jubilee Metals experienced a robust operational and financial performance. Coetzer attributed this to a strategic shift towards focusing on chrome and copper production in South Africa and Zambia, respectively.
The company has seen significant growth in operational output and an increase in the margin per tonne of chrome. Copper production is also on the rise, with the Roan concentrator upgrade expected to significantly boost copper output.
Coetzer said Jubilee Metals remained profitable due to its diversified portfolio in critical metals and is well-positioned to benefit from any recovery in PGM prices. Coetzer highlighted a 47% increase in copper cathode and concentrate production over the half-year and discussed the impact of the Roan concentrator, which is expected to more than double current production.
Additionally, a partnership with International Resources Holding (IRH) from Abu Dhabi aims to further expand copper production in Zambia by leveraging the company's processing capabilities to target underutilized resources.
The company's balance sheet is healthy, bolstered by a 13 million oversubscribed capital raise in January. Coetzer noted that Jubilee Metals' operations in South Africa are self-funding and cash flow positive, allowing for reinvestment into the company's growth. The strategic use of modular plant rollouts in Zambia is expected to follow a similar financially positive trajectory.
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View source version on newsdirect.com: https://newsdirect.com/news/jubilee-metals-reports-strong-first-half-performance-across-all-operations-eyes-future-growth-877794987
Jubilee Metals Group PLC
COMTEX_448378829/2655/2024-02-26T10:00:31
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