Proactiveinvestors United Kingdom Jubilee Metals Group https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Jubilee Metals Group RSS feed en Sat, 19 Jan 2019 05:01:50 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Jubilee Metals surges as quarterly earnings jump 13% ]]> https://www.proactiveinvestors.co.uk/companies/news/212780/jubilee-metals-surges-as-quarterly-earnings-jump-13-212780.html Jubilee Metals Group PLC (LON:JLP) shares surged in mid-morning Thursday after its combined quarterly earnings jumped 13%.

In an operations update for the fourth quarter, the metals miner reported that operational earnings had risen to £2.17mln, while its Hernic operation in South Africa had set a new quarterly production record delivering a 4% rise in platinum group metals (PGM) delivered to 6,279 ounces.

READ: Jubilee Metals begins production at PlatCro and commissioning of fine chrome operation at DCM

The firm also said it had commenced commissioning at its DCM fine chrome project in the country and was delivering high-grade chrome concentrate to target.

Jubilee said production rates at the site had been reduced to facilitate the integration of a new fine chrome recovery plant but expected them to be ramped-up to the plant capacity of 25,000 tonnes per month in the near future.

For the fourth quarter, DCM produced 8,958 ounces of chrome concentrate, up from 8,053 in the third quarter.

For its PlatCro PGM operation, Jubilee said it had commissioned a hydro-mining and dewatering plant during the quarter and expected to begin delivering PGM rich material to the Eland Platinum concentrator during January.

The company added that the reclamation and dewatering plant would facilitate the ramp-up of deliveries to the Eland concentrator and was targeting a rate of between 50,000-60,000 tonnes of platinum-rich material per month.

Leon Coetzer, chief executive of Jubilee, said the company had delivered the improved performance in a period that is “generally challenged” by the festive season.

“I am particularly pleased with the commissioning of our advanced fine chrome plant at DCM, which is delivering chrome concentrate to target specifications since early January. The fine chrome plant is targeting the recovery of chrome from the approximate 620 000 tonnes of chrome material contained in the existing DCM tailings. We intend to implement this technology into all our other operations in the near future” he added.

Jubilee shares were up 7.1% at 2.6p.

]]>
Thu, 17 Jan 2019 10:54:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212780/jubilee-metals-surges-as-quarterly-earnings-jump-13-212780.html
<![CDATA[RNS press release - Quarterly Operations Update Q4 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20190117083004_13937967/ Thu, 17 Jan 2019 08:30:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20190117083004_13937967/ <![CDATA[RNS press release - TR-1: Notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181218123831_13908108/ Tue, 18 Dec 2018 12:38:31 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181218123831_13908108/ <![CDATA[RNS press release - TR-1: notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181218083002_13907582/ Tue, 18 Dec 2018 08:30:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181218083002_13907582/ <![CDATA[News - Jubilee Metals begins production at PlatCro and commissioning of fine chrome operation at DCM ]]> https://www.proactiveinvestors.co.uk/companies/news/211310/jubilee-metals-begins-production-at-platcro-and-commissioning-of-fine-chrome-operation-at-dcm-211310.html Jubilee Metals Group PLC (LON:JLP) has begun the commissioning of fine chrome operations at its PlatCro and DCM projects in South Africa.

The AIM-listed firm said PlatCro’s pre-classification and dewatering circuit had begun production of platinum group metals (PGM) rich material for refining at the Eland Platinum plant owned by PGM producer Northam Platinum.

WATCH: Jubilee Metals' Leon Coetzer on significant chrome acquisition

Production at the project is to be ramped up to a target of 60,000 tonnes per month of PGM material, more than doubling Jubilee’s current processing rate.

At DCM, the firm said its fine chrome plant had begun commissioning, with production to be ramped up to 25,000 tonnes per month of additional capacity over the next 4 weeks and targeting production of 8,000 tonnes per month of fine chrome concentrate.

The news follows an announcement earlier this month that Jubilee was acquiring rights to all the chrome at the PlatCro project, having previously controlled the platinum group elements, for £8.6mln.

READ: Jubilee Metals Group acquires major producing chrome operation

Leon Coetzer, chief executive of Jubilee Metals, said the company intended to integrate the PlatCro chrome operation into its current PGM project, which would streamline costs and “optimise metal earnings”.

He added that the fine chrome plant at DCM would enable to company to “target the recovery of the fine chrome element of existing mine waste material”, which in turn would open “tremendous opportunities to Jubilee for further growth in the chrome industry”.

In early trading Monday, Jubilee shares were up 1% at 2.4p.

]]>
Mon, 17 Dec 2018 08:34:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211310/jubilee-metals-begins-production-at-platcro-and-commissioning-of-fine-chrome-operation-at-dcm-211310.html
<![CDATA[RNS press release - Commissioning of fine chrome operation commences ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181217070005_13905276/ Mon, 17 Dec 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181217070005_13905276/ <![CDATA[Media files - Jubilee Metals' Leon Coetzer on significant chrome acquisition ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11583/jubilee-metals--leon-coetzer-on-significant-chrome-acquisition-11583.html Tue, 11 Dec 2018 15:04:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11583/jubilee-metals--leon-coetzer-on-significant-chrome-acquisition-11583.html <![CDATA[News - Jubilee Metals Group has plenty of exposure to high-flying metals like palladium and vanadium ]]> https://www.proactiveinvestors.co.uk/companies/news/210865/jubilee-metals-group-has-plenty-of-exposure-to-high-flying-metals-like-palladium-and-vanadium-210865.html The palladium price has been on a tear of late, even briefly surpassing even gold as the world’s most valuable metal by ounce.

The price has since dropped away slightly, but even so this strength gives the lie to the idea that the days of generating real upside from platinum group metals are over.

To be sure, the platinum price has been weak for a long time now, but companies like Jubilee Metals Group PLC (LON:JLP) which have a high component of palladium production are enjoying a significant earnings uplift.

“Around 40% of what we make is palladium,” says Jubilee’s chief executive Leon Coetzer. “It’s a massive component of our earnings.”

Jubilee has in recent years created a nice line for itself in extracting platinum group metals from old waste dumps in South Africa. In particular, feed is provided by the Hernic and DCM mines, where the primary product is chrome and the processing of PGMs has often had a secondary priority.

Jubilee extracts the PGMs from the waste dumps using an in-house expertise that has been many long years in the making, and which is now paying off big time. All told, in the most recent quarter for which figures are available, Jubilee was able to generate revenues of almost £3.5mln from the extraction of palladium, platinum and chrome from dumps at Hernic alone.

With DCM thrown in, and with the new PlatCro operations about to start providing a handsome contribution from all three metals too, the earnings profile of the company is about to undergo a radical transformation.

But what of the vanadium?

This is at an earlier stage and represents something of a departure for the company, in that it lies outside of South Africa.

Jubilee has made the Kabwe project in Zambia its first port of call on what looks likely to be an ongoing process of international expansion, as the company’s expertise in waste processing and in particular in dealing with finely ground ore spreads further afield.

At Kabwe Jubilee has managed to acquire a highly attractive zinc operation on very reasonable terms, and it also has a significant vanadium component thrown in.

“Kabwe looks pretty big,” says Coetzer.

“It has zinc, lead and vanadium. Even if it was purely a zinc project it would be reasonable in terms of its economics. Add lead and the return goes up dramatically. But if you add in the vanadium it blows out the lights.”

The vanadium grades are significant at between 0.6% and 1.1% on surface, and helped along by vanadium’s status as the best performing metal of recent months, the project certainly looks set for development.

There is existing plant nearby, owned by a well-known major company, and if Jubilee can get its hands on that, then construction could be cut from the currently envisaged 14 months to a matter of just three or four months.

What’s more, using the existing plant would boost output capacity significantly.

So, there’s much to play for as Jubilee Metals Group enters the new year. The cash flow is rising exponentially by the day, new projects are coming on stream and Coetzer and his chairman Colin Bird are on the lookout for more deals.

“Our next big goal is now let’s engage the likes of Anglo American and Vedanta with our expertise,” says Coetzer. “We’ll tell them that their waste is a first class asset that’s just been forgotten.”

]]>
Tue, 11 Dec 2018 11:01:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210865/jubilee-metals-group-has-plenty-of-exposure-to-high-flying-metals-like-palladium-and-vanadium-210865.html
<![CDATA[News - Jubilee Metals Group acquires major producing chrome operation ]]> https://www.proactiveinvestors.co.uk/companies/news/210846/jubilee-metals-group-acquires-major-producing-chrome-operation-210846.html Jubilee Metals Group PLC (LON:JLP) is acquiring rights to all the chrome at the PlatCro project in South Africa, where it already controls the platinum group elements.

The operation is already in production and is currently processing 75,000 tonnes of ore per month from a resource base of over 1.8mln tonnes.

READ: PGM and chrome production from Jubilee Metals is now generating more revenue per year than its market valuation

It will more than double Jubilee's existing chrome processing capacity

The consideration is £8.6 million.

"This transaction repositions Jubilee in the chrome/platinum arena in South Africa,” said chief executive Leon Coetzer. 

“Our integrated processing hub offers leading processing access to the various independent mines free of the capital and regulatory burden associated with own build. With the integration of our PlatCro PGM project, we anticipate the processing of 65 000 tonnes of PGM rich materials and 80,000 tonnes of chrome materials per month of processing capacity.”

The PlatCro chrome operation currently achieves annual earnings from chrome alone in excess of US$5.5mln before the contribution of PGMs, and will add further strength to Jubilee’s ever-expanding revenue stream.

“I am particularly pleased that this acquisition has been enabled by our current cash and project finance, with minimal dilution to our shareholders," added Coetzer.

The project will be funded via secured project financing to the value of  US$6mln, a cash payment of US$2.83mln, and the issue of just over 52mln new Jubilee shares at a price of 2.5p.

 

]]>
Mon, 10 Dec 2018 08:21:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210846/jubilee-metals-group-acquires-major-producing-chrome-operation-210846.html
<![CDATA[RNS press release - Jubilee acquires major Chrome Processing Operation ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181210071535_13897154/ Mon, 10 Dec 2018 07:15:35 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181210071535_13897154/ <![CDATA[RNS press release - Results of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181206130002_13894436/ Thu, 06 Dec 2018 13:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181206130002_13894436/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181204070211_13890001/ Tue, 04 Dec 2018 07:02:11 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181204070211_13890001/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181204070114_13889994/ Tue, 04 Dec 2018 07:01:14 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181204070114_13889994/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181203164046_13889652/ Mon, 03 Dec 2018 16:40:46 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181203164046_13889652/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181203163522_13889641/ Mon, 03 Dec 2018 16:35:22 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181203163522_13889641/ <![CDATA[News - PGM and chrome production from Jubilee Metals is now generating more revenue per year than its market valuation ]]> https://www.proactiveinvestors.co.uk/companies/news/210242/pgm-and-chrome-production-from-jubilee-metals-is-now-generating-more-revenue-per-year-than-its-market-valuation-210242.html There’s a straightforward financial dynamic about Jubilee Metals Group PLC (LON:JLP) that the market hasn’t woken up to yet, according to chairman Colin Bird.

The company is generating around US$700,000 per month in operating cash flow from the treatment of old ore from South African platinum and chrome mines.

At the Hernic operation the most recent numbers show the company exceeding expectations by passing through a monthly production rate of 2,500 ounces of platinum group metals, including rhodium and palladium which have benefitted from strong prices this year.

Meanwhile, chrome production at the nearby DCM project is steady at around 9,500 tonnes of chromite per quarter while an expansion build out completes.

Thereafter production should rise “dramatically” according to company literature, after the new fines recovery plant is completed.

And that’s not all the growth that’s on offer either.

The first material from Jubilee’s Platcro project has now been delivered to the Eland operation owned by Northam Platinum (JSE:NHM) as part of a plan to build up an inventory of 200,000 tonnes of platinum rich material. Early in 2019, the processing of this material will begin, and the revenue from the resultant platinum will add yet another income stream.

And if that wasn’t enough, following on behind is the recently acquired Kabwe project in Zambia, which holds a significant lead, zinc and vanadium resource. Here, Jubilee is currently building in processing circuits to cater for each metal and expects first production in the second quarter of 2019.

With all this going on, it’s not surprising that some market watchers confidently predict that Jubilee’s earnings could go as high as US$60mln per year in a relatively short time.

Set against the current market capitalisation of £29mln, that’s quite a thought.

Some punters are already waking up early. There’s been a slight uptick lately ahead of a new round of London marketing that’s on its way. The shares rose by nearly 10% on 29th November, and with Bird and Jubilee’s chief executive Leon Coetzer now turning their minds seriously to promotion and getting the story out there could be more to come.

To date, the focus has been primarily on driving the company forward at a project level. After all, it’s not easy to make money in the current mining market, and it’s even less easy to build a company with such an attractive growth profile.

With that job done, it’s now time to get out and tell people about it.

“Not many people appreciate the shear magnitude of the waste created by centuries of mining in Southern Africa,” says Coetzer.

“But there’s a common theme in the industry now: let’s extract every ounce of value we can out of the blood and sweat it took to bring the metal to the surface.”

And now that the African foundation stone of the company has been laid, Coetzer and Bird are looking up to Europe and beyond for the next opportunity. Because these are entrepreneurs now supported by significant and growing cash flow – they’ve shown an appetite for deal-making and an ability successfully to conclude transactions.

They are unlikely to rest on their laurels, so expect plenty of newsflow in the weeks and months ahead.

 

]]>
Fri, 30 Nov 2018 09:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210242/pgm-and-chrome-production-from-jubilee-metals-is-now-generating-more-revenue-per-year-than-its-market-valuation-210242.html
<![CDATA[RNS press release - Jubilee Live Interactive Webcast ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181128133005_13883889/ Wed, 28 Nov 2018 13:30:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181128133005_13883889/ <![CDATA[RNS press release - Audited results for the year ended 30 June 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181114144001_13867120/ Wed, 14 Nov 2018 14:40:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181114144001_13867120/ <![CDATA[RNS press release - Market Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181105080003_13854646/ Mon, 05 Nov 2018 08:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181105080003_13854646/ <![CDATA[RNS press release - Quarterly Operations Update Q3 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181017093001_13832090/ Wed, 17 Oct 2018 09:30:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20181017093001_13832090/ <![CDATA[RNS press release - Jubilee gains full control of the Kabwe Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180806104618_13744943/ Mon, 06 Aug 2018 10:46:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180806104618_13744943/ <![CDATA[RNS press release - Clarification on BMR Group PLC & the Kabwe Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180803070002_13742406/ Fri, 03 Aug 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180803070002_13742406/ <![CDATA[RNS press release - Quarterly Operations Update Q2 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180719070002_13723269/ Thu, 19 Jul 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180719070002_13723269/ <![CDATA[RNS press release - Kabwe Project Status Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180702070005_13700554/ Mon, 02 Jul 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180702070005_13700554/ <![CDATA[RNS press release - Board Changes ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180621150004_13689166/ Thu, 21 Jun 2018 15:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180621150004_13689166/ <![CDATA[RNS press release - TR-1: notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180612140257_13676603/ Tue, 12 Jun 2018 14:02:57 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180612140257_13676603/ <![CDATA[RNS press release - Placement of BMR Shares fully executed ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180611083006_13674120/ Mon, 11 Jun 2018 08:30:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180611083006_13674120/ <![CDATA[RNS press release - Projects Status Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180607070006_13670094/ Thu, 07 Jun 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180607070006_13670094/ <![CDATA[News - Jubilee Metals expects to make Kabwe presentation to Zambian Mining Ministry this month ]]> https://www.proactiveinvestors.co.uk/companies/news/198195/jubilee-metals-expects-to-make-kabwe-presentation-to-zambian-mining-ministry-this-month-198195.html Jubilee Metals Group PLC (LON:BMR) has helped out its joint venture partner BMR’s efforts to resolve the settlement of approved past creditors.

Jubilee, which is working with BMR on the Kabwe project in Zambia, has agreed to allow BMR to hand over some of its Jubilee shares to settle around US$800,000 (roughly £597,000) in debts, thus waiving a “lock in” agreement pertaining to BMR’s Jubilee stake.

READ: Jubilee Metals to buy 29% stake in Kabwe JV partner BMR for £2.8mln​

"We are making excellent progress on the Kabwe project with the construction of the primary leach circuit well underway. Final tests on the ore handling systems are expected to conclude shortly to confirm equipment selection,” said Leon Coetzer, the chief executive officer of Jubilee.

“Further details on the project will be released following the project presentation to the Zambian Mining Ministry expected to be held on or before 20 June 2018,” he added.

Shares in Jubilee fell 0.15p to 2.58p on news of the waiving of the lock-in period.

]]>
Mon, 04 Jun 2018 13:51:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198195/jubilee-metals-expects-to-make-kabwe-presentation-to-zambian-mining-ministry-this-month-198195.html
<![CDATA[RNS press release - Kabwe and BMR Group PLC ("BMR") Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180604091501_13665375/ Mon, 04 Jun 2018 09:15:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180604091501_13665375/ <![CDATA[News - Jubilee Metals executes Kabwe agreement with BMR ]]> https://www.proactiveinvestors.co.uk/companies/news/196229/jubilee-metals-executes-kabwe-agreement-with-bmr-196229.html Jubilee Metals Group PLC (LON:JLP) has executed the shareholders' and operating agreement with BMR Group PLC (LON:BMR) for the Kabwe project in Zambia.

The two companies had the licence for the project reinstated earlier in the month, with Jubilee to be the operator and developer.

READ: Jubilee Metals executes processing agreement with Northam Platinum

Jubilee will provide £2mln for an effective 40% direct ownership of Kabwe in addition to holding 29.01% of BMR. 

The plan at Kabwe is to extract lead, zinc and vanadium from surface tailings left by the historical mine.

Leon Coetzer, Jubilee’s chief executive, said the next step is the project business plan and the presentation of the execution plan to the Zambian authorities.

The agreement with BMR calls for the final business and execution plan to be approved by June 15.

“We will continue with site preparation work and confirming equipment specifications during this time.”

]]>
Wed, 02 May 2018 08:45:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/196229/jubilee-metals-executes-kabwe-agreement-with-bmr-196229.html
<![CDATA[RNS press release - Jubilee Executes Kabwe Project Agreements ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180502070014_13626602/ Wed, 02 May 2018 07:00:14 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180502070014_13626602/ <![CDATA[News - Jubilee Metals executes processing agreement with Northam Platinum ]]> https://www.proactiveinvestors.co.uk/companies/news/195222/jubilee-metals-executes-processing-agreement-with-northam-platinum-195222.html Jubilee Metals Group PLC (LON:JLP) said it has executed a processing agreement with Northam Platinum subsidiary Eland Platinum.

The AIM-listed miner said the agreement involves Northam funding the refurbishment of its platinum recovery circuit, including an existing recovery plant, to which Jubilee would begin transporting platinum rich material for processing from June 2018.

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

Processing will target a minimum rate of 60,000 tonnes per month of platinum rich PlatCro material at a fixed processing cost, producing an estimated 2,800 ounces of platinum group metals (PGM) per month from February 2019.

Jubilee added that revenue from the sale of PGM concentrate, estimated at around US$2.4mln per month at current commodity prices, would be shared in an agreed earning split, in which the group said it would retain a “significant majority of the earnings”.

Leon Coetzer, Jubilee Metals' chief executive, said: "I am pleased to announce our processing agreement with Northam. The structure of the agreement captures the intent of both companies to develop a lucrative partnership in the processing of PGM and chrome rich material. It also opens the door to grow our partnership to engage in similar further opportunities with one of the world's largest platinum producers.”

]]>
Wed, 18 Apr 2018 07:33:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/195222/jubilee-metals-executes-processing-agreement-with-northam-platinum-195222.html
<![CDATA[RNS press release - Jubilee Executes Processing Agreement ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180418070002_13608387/ Wed, 18 Apr 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180418070002_13608387/ <![CDATA[News - Jubilee Metals boosts quarterly platinum group metals production by 30% at Hernic ]]> https://www.proactiveinvestors.co.uk/companies/news/195126/jubilee-metals-boosts-quarterly-platinum-group-metals-production-by-30-at-hernic-195126.html 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."

 

 

]]>
Tue, 17 Apr 2018 08:28:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/195126/jubilee-metals-boosts-quarterly-platinum-group-metals-production-by-30-at-hernic-195126.html
<![CDATA[RNS press release - Quarterly Operations Update & Tjate Share Issue ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180417070005_13606647/ Tue, 17 Apr 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180417070005_13606647/ <![CDATA[News - Jubilee Metals and BMR get Kabwe licence reinstated ]]> https://www.proactiveinvestors.co.uk/companies/news/194311/jubilee-metals-and-bmr-get-kabwe-licence-reinstated-194311.html Jubilee Metals Group PLC (LON:JLP) and its partner BMR Group PLC (LON:BMR) have had their licence at the Kabwe project in Zambia restored, paving the way for development work to start.

Conditions attached to the licence reinstatement are that construction of the processing plant starts within 3 months, it is commissioned by 30 September and first production is achieved by end 2018.

READ: Jubilee Metals feels the benefit of the ramp-up at Hernic project

A lead, zinc and vanadium recovery circuit is part of the accelerated development programme.

Leon Coetzer, Jubilee’s chief executive, said the decision recognised the work already performed on the project and its readiness, while the partners were confident the conditions of the restated licence can be met.

In early trading, Jubilee Metals' shares were sharply higher at 3.02p.

 -- Adds share price --

]]>
Thu, 05 Apr 2018 08:04:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/194311/jubilee-metals-and-bmr-get-kabwe-licence-reinstated-194311.html
<![CDATA[RNS press release - Kabwe Mining Licence Reinstated ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180405070003_13592333/ Thu, 05 Apr 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180405070003_13592333/ <![CDATA[RNS press release - Further Kabwe Project Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180329120001_13587015/ Thu, 29 Mar 2018 12:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180329120001_13587015/ <![CDATA[RNS press release - Appointment of Broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180321070008_13574750/ Wed, 21 Mar 2018 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180321070008_13574750/ <![CDATA[RNS press release - Jubilee Live Interactive Webcast ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180319134501_13572191/ Mon, 19 Mar 2018 13:45:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180319134501_13572191/ <![CDATA[News - Jubilee Metals feels the benefit of the ramp-up at Hernic project ]]> https://www.proactiveinvestors.co.uk/companies/news/192746/jubilee-metals-feels-the-benefit-of-the-ramp-up-at-hernic-project-192746.html Jubilee Metals Group PLC (LON:JLP) turned a profit before non-cash operating expenses and interest in the second half of 2017.

Profit for the period was £1.54mln versus a loss the year before of £233,000, although once operating costs, including depreciation and share-based payments are factored in the profit turned into a loss of £267,000, which still represented a significant improvement on the previous year's loss of £581,000.

Revenue rose to £5.99mln from £4.85mln, with revenue from the Hernic project in the period clocking in at £3.59mln.

READ: Jubilee Metals almost doubled quarterly earnings at Hernic platinum operation

Platinum group metals (PGM) production at the Hernic ferro chrome platinum and chrome tailings operation in the second half of 2017 was 6,629 ounces, with the unit cost per PGM ounce produced achieving a record low in the fourth quarter of US$382, making the project one of the lowest cost producers in the industry.

PGM production in the first two months of 2018 totalled 2,949 ounces.

At the Dilokong chrome mine platinum and chrome tailings operation, 26,922 tonnes of saleable chromite concentrate was produced in the reporting period.

Operational earnings attributable to Jubilee eased to £610,000 from £960,000 the year before.

“The Jubilee team has demonstrated their commitment to excellence by delivering the Hernic project in time and on-budget and ramping up the project to already achieve a unit cost per PGM ounce produced of only US$382.  These numbers demonstrate the return on investment offered by Jubilee's strategy for metals recovery from surface waste and stockpiles,” said Leon Coetzer, the chief executive officer of Jubilee.

“Jubilee's project pipeline includes further surface projects containing platinum and chrome and we have expanded our reach into Zambia by securing a position in the surface lead, zinc and vanadium project at Kabwe. We are actively pursuing further potential projects to include further metals such as cobalt and copper into our pipeline,” Coetzer said.

Shares in Jubilee opened 1% higher at 2.93p.

]]>
Wed, 07 Mar 2018 08:18:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/192746/jubilee-metals-feels-the-benefit-of-the-ramp-up-at-hernic-project-192746.html
<![CDATA[RNS press release - UNAUDITED INTERIM RESULTS 31 DECEMBER 2017 ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180307070004_13557290/ Wed, 07 Mar 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180307070004_13557290/ <![CDATA[RNS press release - Statement regarding Broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180302114501_13552908/ Fri, 02 Mar 2018 11:45:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180302114501_13552908/ <![CDATA[News - Jubilee Metals and BMR extend long-stop date on Kabwe project after notice of cancellation ]]> https://www.proactiveinvestors.co.uk/companies/news/192407/jubilee-metals-and-bmr-extend-long-stop-date-on-kabwe-project-after-notice-of-cancellation-192407.html Jubilee Metals Group PLC (LON:JLP) and its joint venture partner for the Kabwe project, BMR Group (LON:BMR), have agreed to extend the fulfilment on all conditions under their agreement from the end of February to the end of March.

The decision to extend the long-stop date comes after BMR lost its mining right for the Kabwe project in Zambia.

Jubilee said the extension will allow for the Kabwe project to remedy the cancellation of the current small scale mining licence.

READ: Jubilee Metals says “actively supporting” BMR in its appeal against notice of cancellation in Zambia

The company added that it will continue to assist BMR in its appeal against the notice of cancellation

"As previously stated we are actively supporting BMR during this process,” said Jubilee chief executive Leon Coetzer.

“Our two teams continue to work unabated as we target to finalise shortly the design parameters for the processing plant.  

“I have been encouraged by my ongoing engagement with the Zambian Mining Ministry and I have been invited to follow-up discussions with the Zambian Mining Ministry as soon as the BMR appeal has been submitted."

]]>
Thu, 01 Mar 2018 08:03:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/192407/jubilee-metals-and-bmr-extend-long-stop-date-on-kabwe-project-after-notice-of-cancellation-192407.html
<![CDATA[RNS press release - Further Kabwe Project Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180301070007_13550129/ Thu, 01 Mar 2018 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180301070007_13550129/ <![CDATA[News - Jubilee Metals says “actively supporting” BMR in its appeal against notice of cancellation in Zambia ]]> https://www.proactiveinvestors.co.uk/companies/news/192134/jubilee-metals-says-actively-supporting-bmr-in-its-appeal-against-notice-of-cancellation-in-zambia-192134.html Jubilee Metals Group PLC (LON:JLP) has noted the announcement made today by BMR Group PLC (LON:BMR) providing an update on the appeal against the notice of cancellation, announced on 7 February 2018.

The AIM-listed group said BMR also stated that following meetings between the company and directors of the Zambian Mining Ministry and Mining Cadastre, preparation of the company's appeal against the notice of cancellation, is well advanced and the formal appeal is expected to be submitted by no later than 2 March 2018.

READ: Jubilee Metals and BMR Group clarify appeal situation for Kabwe project

Leon Coetzer, Jubilee’s chief executive commented: "We are actively supporting BMR during this process. We have engaged directly with the Zambian Department of Mines to demonstrate Jubilee's commitment to providing its technical, operational and financial strength to the Kabwe project. Our engagements were well received by the Zambian Department of Mines.” 

He added: “The Zambian Department of Mines' representatives acknowledged the combined strength of the BMR and Jubilee team and recognised the significant progress made by the team towards the execution of the Kabwe project. Our engagements with the Zambian Mining Ministry afforded Jubilee the opportunity to present the Company's extensive capability in the recovery of metals from waste as well as the associated environmental improvements the projects could offer.”

Coetzer said: “Against the aforementioned it was agreed to have a follow-up discussion with the Department of Mines to further present the detail around our capabilities as well as to receive an update on the Kabwe Project.

“These discussions will follow the submission of the appeal by BMR expected to be submitted no later than the 2 March 2018."

]]>
Fri, 23 Feb 2018 15:58:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/192134/jubilee-metals-says-actively-supporting-bmr-in-its-appeal-against-notice-of-cancellation-in-zambia-192134.html
<![CDATA[RNS press release - Further Kabwe Project Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180223153507_13544627/ Fri, 23 Feb 2018 15:35:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180223153507_13544627/ <![CDATA[News - Jubilee Metals and BMR Group clarify appeal situation for Kabwe project ]]> https://www.proactiveinvestors.co.uk/companies/news/191360/jubilee-metals-and-bmr-group-clarify-appeal-situation-for-kabwe-project-191360.html Jubilee Metals Group Plc (LON:JLP), in an after market close statement, told investors that associate BMR Group now understands that it has the right to appeal at the Kabwe project.

“Jubilee will support BMR to favourably conclude this process,” the company said.

READ: Jubilee Metals works to resolve Kabwe joint venture partner's mining right termination

Earlier on Wednesday, Jubilee said “doing all things necessary” to assist BMR after the joint venture partner lost its mining right for their Kabwe joint venture project in Zambia.

Shares in BMR were suspended on Wednesday after receiving a letter from the Mining Cadastre Department of Zambia terminating its mining right for the Kabwe lead, zinc and vanadium project in the country.

READ: Jubilee Metals elects to exercise its earn-in at Kabwe

The letter was dated 19 December 2017 and, at that time it was communicated that BMR had 30 days to exercise its right of appeal.

However, according to Wednesday’s later announcement, BMR now understands that it has 30 days from 6 February 2018.

]]>
Thu, 08 Feb 2018 08:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/191360/jubilee-metals-and-bmr-group-clarify-appeal-situation-for-kabwe-project-191360.html
<![CDATA[RNS press release - Further Update re Kabwe project ]]> https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180207170047_13525417/ Wed, 07 Feb 2018 17:00:47 +0000 https://www.proactiveinvestors.co.uk/companies/rns/526/LSE20180207170047_13525417/