Business
Six Monthly Operations Update
Six Monthly Operations Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 1294B Jubilee Metals Group PLC 28 January 2020 \n\nJubilee Metals Group PLC\nRegistration number (4459850)\nAltX share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n \nDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)\n \nJubilee Metals Group PLC\nSix Monthly Operations Update \n \nJubilee Metals Group (\"Jubilee\" or the \"Company\"), the AIM and Altx traded metals processing company, is pleased to announce its unaudited operational results for the six month period ended 31 December 2019 (\"H2 2019\"). \n \n \nHighlights\n \n· 74% increase in combined H2 2019 revenue to GBP 25 million (ZAR 462 million) from H1 2019\n· 47% increase in combined H2 2019 operational earnings to GBP 8 million (ZAR 154 million) from H1 2019\n· Jubilee completed the acquisition of the Sable Refinery in Zambia and produced first copper metal in November 2019 while commencing with the construction of the zinc refinery circuit \n· Inyoni Operations acquired 100% of current PGM* surface tailings estimated at 3.33 million tonnes as well as future PGMs tails, extending the project life and taking full control of all operational aspects and gaining 100% economic rights \n· Inyoni Operations secured rights to all chrome contained in estimated 3.33 million tonnes of surface tailings and produced first chrome concentrate for own sales in November 2019\nPGM Operations\n· PGM revenue up 107% to GBP 16 million (ZAR 298 million)\n· PGM operational earnings doubled to GBP 8 million (ZAR 150 million) \n· PGM ounces delivered up 82% to 21 082 ounces\n· Windsor PGM Operations brought on-line end August 2019 and concluding ramp-up to reach full operational capacity in November 2019\n· Windsor PGM Operations almost doubles budgeted capacity to reach processing rate of 100 000 tonnes per month\n· Combined PGM processing capacity expanded 3 fold to 170 000 tonnes per month targeting 6 000 PGM ounces per month.\nChrome Operations\n· Windsor Chrome Operations successfully replaced the last remaining legacy tolli...