Britain

Jubilee Metals shines as it swings to profit in 2019

Jubilee Metals Group PLC (LON:JLP) shined brighter on Thursday after it swung to a profit in its full-year results.

For the 12 months ended 30 June, the AIM-listed firm reported a pre-tax profit of £7.9mln compared to a £2.4mln loss in the prior year as revenues surged to £23.6mln from £14.1mln.

READ: Jubilee secures 100% control of the chrome and platinum at Inyoni, in US$16.4mln deal

Income was boosted by record production at the companys platinum group metals (PGM) project at Inyoni in South Africa, where output rose to 23,847 ounces from 17,354 in 2018.

Jubilee noted that the figures included just one full month of production at its Windsor operation, also in South Africa, which had already “exceeded expectations” for the month of September by delivering 5,337 PGM ounces, more than double thatRead More – Source