Jubilee posts stronger interim results
JOHANNESBURG (miningweekly.com) – Noting that its financial results for the six months to December 31, reflected its transformation and continued strong growth in establishing itself as a significant metals producer, dual-listed Jubilee Platinum on Thursday posted a significant increase in gross profit to £900 000, up from the prior year’s £6 100.
CEO Leon Coetzer attributed the growth to the sale of its Middelburg Operations and the acquisition of three platinum surface processing projects, which now set the company on a path of reaching production capacity in excess of 1.14-million tonnes a year.
“The award of the Tjate mining right further emphasised the progress made in the implementation of Jubilee's business model of establishing a fully integrated mines-to-metals company,” he said.
Jubilee further reported accelerated capital investment in its surface processing projects, with capital expenditure of £11.18-million invested for the six months under review.
Income received by Jubilee from its Dikolong chrome mine (DCM) amounted to £1.36-million, which comprised operational earnings from the DCM project for the period under review of £980 000 and working capital loan repayment of £380 000 by DCM to Jubilee.
Operating costs for the period, excluding depreciation and amortisation, fell 37% to £1.10-million compared with the comparative period.
Meanwhile, Jubilee noted that the group’s loss for the period from continuing operations decreased by 68.65% to £530 000, while group loss a share for the period from continuing operations were down 78% to 0.05p.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation