Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Jubilee Metals boosts quarterly platinum group metals production by 30% at Hernic

Chief executive Leon Coetzer is confident of further improvements during the second quarter
platinum
Jubilee has made a speciality of producing platinum group metals and chrome

Shares in Jubilee Metals Group PLC (LON:JLP) rose by more than 5% in early trade as the company’s Hernic operation in South Africa turned in record platinum group metals production numbers.

In March, Hernic produced 1,858 ounces of platinum, bringing to a close a healthy quarter in which total production was up 30% to 4,897 ounces.

READ: Jubilee Metals and BMR get Kabwe licence reinstated

What’s more, the unit cost per platinum group metal ounce produced was just US$434, allowing for significant margin on prevailing platinum and palladium prices.

As a result of all this, operational earnings from Hernic increased by 18% to £1.14mln.

"I am very pleased with the continued operational improvements at our Hernic operations,” said Leon Coetzer, chief executive of Jubilee. 

“I expect the second quarter of 2018 to deliver even better operational numbers as the Hernic operation continues to improve.”

He also commented on the company’s other major project, the Dilokong operation, also in South Africa, as well as operations further afield.

“Our DCM operation is going through a transitional phase as we gear up to execute the PGM project. We have temporarily suspended the processing of 3rd party ore at DCM due to continued variation in feed quality causing operational difficulties negatively impacting our production of chrome from the on-site tailings and surface waste material. It is an exciting period for Jubilee as we expand our operational reach.  Our projects team has a busy time ahead as we look to execute the PlatCro PGM project, DCM PGM project and the Kabwe project."

 

 

View full JLP profile View Profile

Jubilee Metals Group Timeline

Related Articles

1524149660_JaxonMinerals3.png
April 19 2018
Jaxon has filed notice of work applications with the relevant authority for the More Creek project
1516878599_58441.jpg
January 25 2018
Eurasia Mining has an enviable position in Russia platinum and platinum group metals
Elementos: Access latest PPT from Proactive's CEO Sessions
July 27 2017
Chris Dunks discussed tin production timeline at Proactive's CEO Sessions.

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