Jubilee swings to interim profit and sees more coming

Jubilee Metals expects its leap into an interim profit to continue for the balance of its financial year as new projects are ramped up, adding to its successful Hernic platinum group metals and chrome recovery operations.

PGM output from its Hernic project rose to 12,288oz from 6,629oz, contributing R130m towards Jubilee’s total revenue of R144m. Group revenue was up 39% compared with the same period a year earlier. “Further earnings growth drivers are targeted in the near term with the acceleration in deliveries of its platinum material to Northam,” he said.

PlatCro, which is a chrome-tailings retreatment operation Jubilee bought in January, is strategically placed near Brits and chrome-generating businesses.

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