Business
Quarterly Operations and Financial update
Quarterly Operations and Financial update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 7809M Jubilee Platinum PLC 21 July 2014 \n\nRegistration number (4459850) \nAltX share code: JBL\nAIM share code: JLP \nISIN: GB0031852162 \n \n \n21 July 2014\n \nJubilee Platinum PLC\n(\"Jubilee\" or the \"Company\")\nQuarterly Operations and Financial update\n \nJubilee, the AIM-quoted and AltX quoted Mine-to-Metals specialist, is pleased to announce an operations and financial update for the Middelburg operations (\"Middelburg\") for the second quarter of 2014 (Q2). The Company is also updating shareholders regarding the sale of the Quartzhill property owned by Tjate platinum Corporation Pty Ltd (\"Tjate\").\nHighlights\n· Unaudited revenue for Middelburg up 44.89% Q2 on Q1\n· Unaudited gross profit for Middelburg up 11.14% for Q2 and exceeding the targeted 38.00% \n· Unaudited net loss for Middelburg Q1 of ZAR 2.691 million (GBP 0.151 million) converted to a net profit of ZAR 1.247 million (GBP0.070 million) in Q2 \n· Production up 47%\n· Platinum smelting targeted for Q3 2014\n \n \nLeon Coetzer, CEO of Jubilee, says:\n\"The Company continues to make significant progress in all of its current and projected activities. The final hurdle for the submission of the Environmental Management Program, as part of the Tjate mining right application, has been overcome and submission is targeted for the end of July 2014 which will conclude the submission requirements by the Department of Mineral Resources. We are working closely together with Anglo Platinum for the conclusion of the sale of Quartzhill, linked to the Tjate mining right.\"\n\"The Company is meeting all the challenges presented by the current operating environment and remains fully confident in the developing busines...