The company, which changed its name in December, achieved a jump in 2017 revenue on the back of rising output from its two tailings operations in South Africa.
Turnover rose to £9.47mln (£1.47mln) in the year to June and losses before impairments narrowed to £2.1mln from £3.41mln.
Jubilee has chrome and platinum reprocessing plants at the Hernic and Dilokong mines in South Africa.
Dilokong was the main contributor to overall sales last year (£9.37mln), while Hernic generated first sales of £430,000 in the final quarter.
Hernic continues to deliver results
Since year end, production has continued to grow at Hernic, rising to 2,874 ounces of platinum (PGM) in the three months to September, compared to 808oz in the previous quarter.
In a brief update on Hernic in January 2018, Jubilee said it expects PGM production growth of more than 25% quarter-on-quarter in the fourth quarter.
Jubilee enters lead and zinc recovery joint venture
In October the company entered a joint venture with BMR Group to target the recovery of lead, zinc and vanadium at the Kabwe project in Zambia.
The partners aim to deliver commercial production of lead and zinc this year.
“This transaction is in line with our mission to take our brand and expertise across country borders and commodities,” said chief executive Leon Coetzer.
“This project is meaningful in scope, diversity and potential contribution to the Company's earnings. The Kabwe project offers immediate unencumbered access to a large surface stock rich in lead, zinc and vanadium created from historical mining and processing activities.”
Jubilee buys stake in BMR
Jubilee in January said it would buy a 29.01% stake in BMR for £500,000 in cash and 63,166,969 Jubilee shares worth £2.3mln.
The deal will raise Jubilee's effective interest in Kabwe to 57.41%, subject to its election to execute the project.
"This strategic acquisition is consistent with our stated mission to take our brand into low risk surface projects in other commodities and other countries,” Coetzer said.
“The acquisition secures Jubilee the right to a significantly increased effective interest in the Kabwe project which is dependent only on our decision to progress the Kabwe project, which remains subject to the completion of our due diligence.”
Project funding in place
Jubilee is well funded to carry out its plans this year.
In August of last year it told investors it had executed a US$50mln project funding agreement to support its metals recovery business.
Pre-approved debt funding is being injected at project level directly, by investment group RiverFort Capital Group. The funding commitment is for an initial 33-month period.
The company has highlighted that the deal is structured at project level to minimise dilution and enhance shareholder value.