Business
Half-Yearly Financial Report to 31 December 2022
Half-Yearly Financial Report to 31 December 2022.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \n \n \n Jubilee Metals Group PLC\n \n \n \n \n Registration number (4459850)\n \n \n \n \n Altx share code: JBL\n \n \n \n \n AIM share code: JLP\n \n \n \n \n ISIN: GB0031852162\n \n \n \n \n (\"Jubilee\" or \"the Company\" or \"the Group\")\n \n \n \n \n \n \n \n \n \n Dissemination of a Regulatory Announcement that contains inside information according to UK Market Abuse Regulations. Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.\n \n \n \n \n \n \n \n \n \n Unaudited Condensed Half-Yearly Financial Report for the six months to 31 December 2022\n \n \n \n Jubilee Metals Group PLC (AIM: JLP; Altx: JBL), a leader in diversified metals processing, with operations in Africa, today publishes its condensed unaudited Half-Yearly Financial Report for the six-month period ended 31 December 2022 (\"H1 FY2023\").\n \n \n Overview\n \n \n Financials\n \n \n §\n Group Revenue of £63.1 m (H1 FY2022: £63.3 m)\n \n \n o \n Revenue contribution from combined PGM and chrome sales of £58 m and copper sales of £5.1 m\n \n \n o \n PGM basket price US$\n 1 453/oz down 11%, partially offset by PGM operational cost management and production output\n \n \n o \n Realised copper price US$\n 6 893/t down 28% on H1 FY2022 with strong market recovery post period\n \n \n §\n EBITDA of £10.3 m (H1 FY2022: £13.7 m)\n \n \n §\n Adjusted EBITDA of £11.8 m (H1 FY2022: £14.9 m)\n \n \n §\n Operating expenses of £9.7 m (H1 FY2022: £10.9 m)\n \n \n §\n Strong net cash flows from operating activities of £16.9 m (H1 FY2022: £2.3 m)\n \n \n §\n Continued investment of\n £24.1 m (US$28.4 m) in copper and cobalt expansions\n \n \n §\n Closing cash position of £11.7 m (30 June 2022:\n £16 m)\n \n \n \n Operations\n \n \n \n §\n Lost time injury frequency rate (LTIFR) of 1.0 in South Africa; LTIFR of 2.9 in Zambia\n \n \n o \n Regrettable safety incident, related to an engineering service provider that sadly resulted in a fatality\n \n \n o \n Decisive action taken to take a more direct safety management role of service providers\n \n \n §\n Strong operational performance from the South African PGM and chrome operations despite initial impact of power outages\n \n \n §\n PGM oper...