Business
Quarterly Operations Update
Quarterly Operations Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 3599D Jubilee Metals Group PLC 30 January 2018 \n\nJubilee Metals Group Plc\n (\"Registration number: 4459850\") \nAIM share code: JLP \nAltX share code: JBL\nISIN: GB0031852162 \n (\"Jubilee\" or \"the Company\")\n \nQuarterly Operations Update \n \nJubilee is pleased to announce an operations update for its metals recovery division, Jubilee Processing Proprietary Limited (\"JPL\") for Q4 2017. \nHighlights \n· Hernic operational earnings increased 94 % to GBP 0.97 million (ZAR 17.47 million) (Q3 2017: GBP 0.50 million (ZAR 8.60 million))\n· Hernic unit cost per PGM ounce produced reduced to USD 382 (Q3 2017: USD 476)\n· Hernic PGM1 production up 31 % to 3 755 ounces (Q3 2017: 2 874 ounces)\n· Hernic project revenue up 33 % to GBP 2.05 million (ZAR 37.01 million) (Q3 2017: GBP 1.54 million (ZAR 26.58 million))\n· JPL operations revenue up 24 % to GBP 3.30 million (ZAR 59.87 million) (Q3 2017: GBP 2.67 million (ZAR 46.11 million))\n· JPL operations earnings up 43 % to GBP 1.22 million (ZAR 22.12 million) (Q3 2017: GBP 0.85 million (ZAR 14.73 million))\n1 = Platinum Group Metals (6E platinum, palladium, rhodium, iridium, osmium, and gold)\n \nLeon Coetzer, Chief Executive commented: \n\"The Jubilee team has delivered an exceptional performance despite the traditional operational slowdown over the festive period. \nOur Hernic operation has continued to deliver significant operational improvements quarter on quarter, this despite the budgeted increased maintenance and operational slow down over the festive period.\nWe have implemented necessary process upgrades at our DCM operations to allow for a more flexible operation to expand the processing of 3rd party material. We will also be implementing operational efficiency enhancements developed by our in-house technical teams. I look forward to rolling-out these enhancements across our project portfolio.\nOur due diligence on the Kabwe project is progressing well with the second round of leach tests concluded, which have confirmed the high recoverability of the lead, zinc and vanadium contained in the surface resource. I expect to receive the metal refining results shortly and th...