Leon Coetzer, CEO of Jubilee Metals Group (LON:JLP)
January 29, 2020
Jubilee Metals Holdings PLC (LON: JLP) Chief Executive Officer Leon Coetzer caught up with Zak Mir for an exclusive interview to discuss Jubilee’s Six Monthly Operations Update (https://www.share-talk.com/jubilee-metals-group-lonjlp-six-monthly-operations-update/) for the H2 2019 period.
It has been an exceptional period which included two transformational transactions while we maintained our growth trajectory delivering another step increase in earnings.
· 74% increase in combined H2 2019 revenue to GBP 25 million (ZAR 462 million) from H1 2019
· 47% increase in combined H2 2019 operational earnings to GBP 8 million (ZAR 154 million) from H1 2019
· Jubilee completed the acquisition of the Sable Refinery in Zambia and produced first copper metal in November 2019 while commencing with the construction of the zinc refinery circuit
· Inyoni Operations acquired 100% of current PGM* surface tailings estimated at 3.33 million tonnes as well as future PGMs tails, extending the project life and taking full control of all operational aspects and gaining 100% economic rights
· Inyoni Operations secured rights to all chrome contained in estimated 3.33 million tonnes of surface tailings and produced first chrome concentrate for own sales in November 2019
· PGM revenue up 107% to GBP 16 million (ZAR 298 million)
· PGM operational earnings doubled to GBP 8 million (ZAR 150 million)
· PGM ounces delivered up 82% to 21 082 ounces
· Windsor PGM Operations brought on-line end August 2019 and concluding ramp-up to reach full operational capacity in November 2019
· Windsor PGM Operations almost doubles budgeted capacity to reach processing rate of 100 000 tonnes per month
· Combined PGM processing capacity expanded 3 fold to 170 000 tonnes per month targeting 6 000 PGM ounces per month.
Leon Coetzer, Chief Executive Officer, says: “I am delighted to present Jubilee’s Six Monthly Operations Update for the H2 2019 period. It has been an exceptional period which included two transformational transactions while we maintained our growth trajectory delivering another step increase in earnings.
“The benefit of our multi-metal strategy has been clearly demonstrated over the period supported by our leading in-house technical and operational excellence. Our PGM operations delivered record earnings on the back of increased production and metal prices while our chrome operations showed their resolve maintaining positive earnings against much softer chrome prices delivering increased output and higher efficiencies.