Jubilee Metals : continues to deliver strong operational performance

Jubilee Metals Group PLC is a global industry leading metal recovery business focussed on the retreatment and recovery of metals from mine tailings, waste, slag, slurry and other secondary materials generated from mining operations.

The company's expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals ('PGMs'), chrome, lead, zinc, vanadium, copper and cobalt.

Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF)chief executive Leon Coetzer said it had delivered astrong operational performancein 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.

Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF)has been awarded a "large" Mufulira slag processing contract through a joint venture collaboration with Mopani Copper Mines (MCM).

Through the agreement, Jubilee will process approximately 13 million tonnes of historical slag, estimated to contain 0.7% copper and 0.27% cobalt in addition to the current slag arisings.

Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF)reported higher revenue, lower profit but stable cash flow as it navigated a year when the basket of platinum group metals (PGM) prices dropped sharply.

The company countered the fall in PGM prices by expanding its chrome operations into higher-margin offtake agreements, resulting in a £12.5 million cash position at year end and strong cash generation of £31 million.

In conversation with Thomas Warner from Proactive, Leon Coetzer, CEO ofJubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF), delved into the strategic intricacies and operational updates of the company for the first quarter of its financial year.

With a focus on the impressive strides in metal recovery, specifically in the chrome and copper sectors, Coetzer provides an in-depth analysis of the company's achievements and prospects in South Africa and Zambia.

Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF)CEO Leon Coetzer speaks to Thomas Warner from Proactive after the metal recovery business published an operational update for the first quarter of its financial year.

Coetzer starts by summarising achievements in South Africa, highlighting its modular expansions and progress toward becoming one of the world's major chrome producers. The results, according to Coetzer, align with expectations.

The second vital component is their copper operations in Zambia. Coetzer emphasises their expanding copper portfolio and how the strategies in Zambia have evolved from the lessons they've learned. A key takeaway from the update is the modularity and simplicity in their expansion, thanks to their technical and development centres.