Business
Six Month Operations Update
Six Month Operations Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 7351S\n Jubilee Metals Group PLC\n 13 July 2020\n \n \n \n Jubilee Metals Group PLC\n (\"Jubilee\" or the \"Company\")\n \n Registration number (4459850)\n \n \n AltX share code: JBL\n \n \n AIM share code: JLP\n \n \n ISIN: GB0031852162\n \n \n \n \n \n \n Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).\n \n 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 Six Month Operations Update \n \n \n H1 2020\n \n \n \n \n \n Jubilee, the AIM and Altx traded metals processing company, is pleased to announce its unaudited operational results for the six month period ended 30 June 2020 (\"H1 2020\"). \n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n Jubilee delivers sixth consecutive six-monthly period of double digit growth with a 54% increase in combined\n \n \n 1\n \n \n H1 2020 operational earnings to GBP 12.8 million (74% increase to ZAR 266.5 million) from H2 2019 \n \n \n · \n Earnings growth achieved notwithstanding the loss of the equivalent of approximately 2 months' of operational time due to restrictions under COVID-19 regulations\n \n \n · \n 18% increase in combined\n \n \n 1\n \n \n H1 2020 revenue to GBP 29.4 million (33% increase to ZAR 615 million) from H2 2019\n \n \n · \n Jubilee's cash position increased to GBP \n 10.8 million (ZAR 230.5 million) \n \n \n · \n Jubilee's increased cash position was maintained despite settling of the final payment of GBP 1.4 (ZAR 30.6 million) for the acquisition of additional PGM and chrome rights, as well as settling historical debt of GBP 2.5 million (ZAR 53.9 million) while maintaining the capitalisation of the Zambian Sable Refinery \n \n \n · \n All operations have returned to 100% capacity while maintaining strict health and safety measures \n \n \n · \n Jubilee commenced production of both copper cathode and cobalt concentrate at its Sable Refinery \n \n \n · \n Jubilee secures the rights to \n approximately 150 million tonnes of copper containing surface tailings targeted to be refined at the Sable Refinery\n \n \n \n · \n Jubilee targets to reach 25 000 tonnes o...