Business
Interim Results ended 31 December 2012
Interim Results ended 31 December 2012.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 2211B Jubilee Platinum PLC 28 March 2013 \n \n\nRegistration number (4459850) \nJSE share code: JBL\nAIM share code: JLP \nISIN: GB0031852162 \n 28 March 2013 \n \n \nJubilee Platinum PLC\n(\"Jubilee\" or the \"Company\")\n \nREVIEWED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2012\n \n \nThe directors of JSE listed and AIM traded Jubilee, the 'Mine-to-Metals' exploration and development company, are pleased to announce the reviewed interim results for the six months ended 31 December 2012.\n \nFINANCIAL HIGHLIGHTS\n \n• Revenues continue to improve in-line with the ramp-up of the smelter operations. Revenue increased by 61.5% to £2.1 million for the half year under review compared to the equivalent period in 2011 financials (£1.3 million 2011).\n \n• Gross profit increased to £750.000 which reflects the increased throughput achieved at the operations over the period under review (£214.000 2011).\n \n• Sale of electricity commenced on 23 December 2012. The impact on the Company's income statement of the private sale of 5.1MW of electricity will only be fully reflected in the next financial period of the Company.\n \nOPERATIONAL HIGHLIGHTS\n \n• The Company secured the rights to recover platinum group-elements (PGEs) from an estimated 800.000 tonnes of PGE-bearing chromite tailings (\"Tailings\") and from current arisings on the Dilokong Chromite Mine in the Eastern Bushveld of South Africa.\n \n• The Company's subsidiary Pollux Investment Holdings (Pty) Limited (\"Pollux\") formalised a binding and exclusive memorandum of understanding with Phokathaba Platinum (Pty) Limited (\"Phokathaba\") to process the Tailings in its nearby Smokey Hills mine concentrator. Phokathaba is a subsidiary of the Australian Stock Exchange (\"ASX\")-listed Platinum Australia Limited (\"PLA\"), which ...