Jubilee Platinum PLC (LON:JLP) shares went north as it reported a 108.22% increase in revenues from chromite sales in the third quarter compared to the second and said it was close to sealing another acquisition.
The increased revenues come from the group's Dilokong Chrome mine tailings project in South Africa.
Chromite concentrate output was up around 88% to 28,559 tons for the three months, compared with the preceding quarter, which led to revenue of £2.09mln for the quarter.
Earnings attributable to the firm was up 94.73% to £0.888mln against the second quarter.
Jubilee's chief executive Leon Coetzer told investors: "The operating results are very satisfactory and show increasing performance quarter on quarter which is reflected in our financial performance."
He added that Jubilee continued to pursue projects in a bid to increase its cash flow.
"We are confident that we will shortly conclude a further acquisition with discussions progressing favourably in other areas of acquisition and joint venture," he said.
Meanwhile, construction of the 660 000 tons a year platinum and chromite processing plant continues to progress on schedule, and is targeting commissioning in December this year.
Capital expenditure to end September was £7.45 million, which is equivalent of 71% of total projected capital.
Shares added 4.23% to 3.7p.