Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Jubilee Platinum reports earnings growth as output at Hernic mine continues to ramp up

The Hernic project is one of the lowest cost platinum producers in the industry, said Jubilee Platinum's chief Leon Coetzer
The solid operational performance in October is expected to continue over the next quarter

Jubilee Platinum PLC (LON:JLP) delivered revenue and earnings growth from the Hernic mine in October as platinum production continued to ramp up.

Revenue from the South Africa project rose 18% to £760,000 compared to a month ago on the back of a 22% month-on-month gain in production to 1,427 ounces of platinum (PGM).

Project earnings grew 47% month-on-month to £370,000 as unit cost per PGM fell to US$406 from US$449 in September.

READ: Jubilee Platinum gets profits boost as Hernic in South Africa ramps up

"The Hernic project continues to deliver excellent results as we step up the throughput during the final optimisation of the operation,” said chief executive Leon Coetzer.

“Our October results illustrate the significant improvement in operational performance during this optimisation phase, which we expect to continue over the next quarter.

WATCH: Jubilee Platinum anticipating production ramp up at Hernic to continue into Q4

“I am particularly delighted by the earnings margin that the project is already achieving with a unit cost of only US$406 making the Hernic project one of the lowest cost PGM producers in the industry."   

View full JLP profile View Profile

Jubilee Metals Group Timeline

Related Articles

July 28 2018
Jaxon said the first phase of fieldwork included geological mapping and sampling the Red Spring area, located within the Hazelton Property.
August 08 2018
Eurasia Mining has an enviable position in Russia platinum and platinum group metals

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use