Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF) chief executive Leon Coetzer said it had delivered a strong operational performance in the first quarter of its current financial year and is on track to hit guidance for the full 12 months.
Chrome concentrate output in the three months to end September 2023 was 344,000 tonnes (t), said the tailings processing specialist, with platinum group metals at 10,110oz and copper cathode 934t.
Revenue per tonne of chrome was flat at US$85, with platinum up slightly and copper down. Production costs were up slightly across all three metals.
Coetzer added: “Our robust operational performance was supported by new long-term supply agreements which allocate higher quality feed material to our operations, allowing us to better leverage our current production capacity, and affirm our growth trajectory in chrome concentrate, PGMs, and copper.
"With the Thutse chrome project performing to expectation and offering further growth potential with the addition of Jubilee's 9th chrome module, we anticipate consistent growth in chrome and PGMs.”
Guidance for the year to June 2024 remains 1.45 million tonnes of chrome concentrate, 42,000 PGM ounces and 5,850 tonnes of copper weighted to the second half of the financial year.