Business
Interim Financial Report 6 Months to December 2024
Interim Financial Report 6 Months to December 2024.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n\nJubilee Metals Group PLC\nRegistration number: 4459850\nAIM share code: JLP\nAltx share code: JBL\nISIN: GB0031852162\n('Jubilee' or 'the Company' or 'the Group')\n \nDissemination 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 \nUnaudited interim financial report for the six months ended 31 December 2024\nJubilee, a diversified metals processor in Africa, with copper operations in Zambia and also chrome and PGM operations in South Africa, is pleased to announce its unaudited interim financial report for the six months ended 31 December 2024 (H1 FY2025).\nHighlights\nSafety\n\n\n\n\n§ Zambia reported a Lost Time Frequency Injury Rate (LTFIR) of 0.65 (H1 FY2024: 0.61).\n\n\n\n\n§ South Africa reported a LTFIR rate of 1.45, an improvement from 2.41 for H1 FY2024.\n\n\n\n\nFinancial \nGroup\n\n\n\n\n§ Group revenue up 51.0% to US$141.5 million (H1 FY2024: US$93.7 million) driven mainly by increased production of chrome concentrates during the period.\n\n\n\n\n§ Group EBITDA (earnings before interest, tax, depreciation and amortisation) down 6.8% to US$13.6million (H1 FY2024: US$14.6 million) impacted by softer chrome prices during the period.\n\n\n\n\n§ Invested US$17.8 million (H1 FY2024: US$16.8 million) in the expansion of its copper and chrome operations.\n\n\n\n\n§ Cash of US$8.4 million at the end of the period (30 June 2024: US$19.3 million).\n\n\n\n\n \nZambia\n\n\n\n\n§ Copper revenue up 5.1% to US$8.3 million (H1 FY2025 US$7.9 million).\n\n\n\n\n§ Copper cost per tonne increased by 30.6% to US$5 948/t (H1 FY2024: US$4 554/t), due mainly to a once off contractual adjustment of US$573/t (accounting for 12.6% of the increase) to the price of copper ore purchased during the period and the impact of plant stoppages due to power constraints.\n\n\n\n\n§ Copper gross profit down 88.0% to US$0.3 million (down 53.6% excluding the once off contractual adjustment) (H1 FY2024: US$2.5 million) driven mainly by the commissioning of Roan operations and subsequent stoppage due to power interruptions.\n\n\n\n\n§ Copper gross profit margin of 3.9% (14.0% excludi...