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

Jubilee Platinum revenues soar as South Africa operations come on-stream

Jubilee has chrome and platinum reprocessing plants at the Hernic and Dilokong mines
picture of platinum waste
Jubilee has two reprocessing plants at mines in South Africa

Rising production from its two tailings operations in South Africa sent annual revenues soaring at Jubilee Platinum PLC (LON:JLP).

Turnover rose to £9.47mln (£1.47mln) in the year to June, while losses before impairments were reduced to £2.1mln from £3.41mln.

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

Jubilee has chrome and platinum reprocessing plants at the Hernic and Dilokong mines.

Nearly of all the sales in the year (£9.37mln) came from Dilokong, which contributed for a full year.

The Hernic operation, meanwhile, generated first sales of £430,000 in the final quarter.

Since the year end, Jubilee has already announced production at Hernic trebled in the quarter to September.  

READ: Jubilee Platinum enters lead and zinc recovery venture in Zambia

The junior added it has decided to write down the value of its nickel assets in Australia due to the ongoing dispute with BHP Billiton.

The cost of that and other one-offs meant a statutory loss before tax of £20.4mln.

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