Jubilee Metals Share Discussion Threads

[1madmarky] 09/5/2019 08:43

No- it's just the information was already known to the market as we were given Jan and Feb numbers. So those that were saying we needed the quarterlies to move on were wrong. Enough info was in the market already the quarterlies have just confirmed what was already known. It's a good update and shows we will continue quarter on quarter improvements for atleast another 4 quarters.

[bookwormrobert] 09/5/2019 08:41

The share price drop is just the "sell on news" brigade. They'll be gone soon.

[boris cobaka] 09/5/2019 08:41

Sell on news expected to a degree - the interesting bit will be how far it falls back...

[boris cobaka] 09/5/2019 08:40

Very strong set of numbers and as someone said above it's moving swiftly in the right direction. More revenue streams yet to come or to achieve maximum capacity.

And the best news!
I know I've been banging on about gold beginning the second leg of a new bull market well it finally is about to 'lift off'

$1291 level to watch - and then the biggie $1375
Gl.

[kennyp52] 09/5/2019 08:36

Something stinks !

[alpal2] 09/5/2019 08:34

What was so awful about the results that some are selling at below yesterday's price?

[freedom97] 09/5/2019 08:32

Note:

"Following completion of the acquisition of the PlatCro chrome operation in mid-January 2019, the Company has successfully phased in management and operational control over the project. The chrome operation has already contributed positively to the group chrome earnings ahead of projections as the Company continues to drive efficiencies and enhance performance.


Importantly, Q2 2019 will be the first full quarter for this operation, and a more detailed operational and financial performance will be provided in the half yearly update, which the Company believes will be more reflective of the potential of this operation. The PlatCro PGM project is expected to commence with the production of platinum and palladium rich concentrates during Q2 2019, and holds the potential to double Jubilee's current PGM ounce production over the life of the project."

[tel5] 09/5/2019 08:25

QUARTERLY OPERATIONS UPDATE Q1 2019
Thu 09 May 2019 07:00
RNS Number : 4407Y
Jubilee Metals Group PLC
09 May 2019

Jubilee Metals Group PLC

Registration number (4459850)

AltX share code: JBL

AIM share code: JLP

ISIN: GB0031852162



Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).



Jubilee Metals Group PLC


Quarterly Operations Update Q1 2019



Jubilee Metals Group ("Jubilee" or the "Company"), the AIM and AltX traded metals processing company, is pleased to announce its operational update for Q1 2019.



Highlights



· 57% increase in quarterly operational earnings to GBP 3.22 million (ZAR 58.85 million)

· 54% increase in combined quarterly revenue up to GBP 6.56 million (ZAR 119.90 million)

· PlatCro chrome acquisition completed and contributing to Company earnings ahead of projections

· PlatCro PGM* project (platinum and palladium dominant) targeted to commence with production in Q2 2019

· First chrome concentrate from DCM fine chrome project delivered to market with production ramp up expected to reach full design capacity of 25 000 tonnes per month in Q2 2019

· Exposure to wider commodity basket, including chrome, PGMs, vanadium, zinc and lead

· Increased backing from institutional investors secured to complete funding for the Kabwe project

· Successful secondary placement of all Jubilee shares held by BMR Group PLC to institutional investors

* 6 Element Platinum Group Metals including platinum, palladium, rhodium, ruthenium, osmium and gold



Leon Coetzer, Chief Executive Officer, says:



"The period has been exceptional for Jubilee, showcasing the implementation of our stated mission to grow our earnings base, while maintaining strong margins and diversifying our operational footprint into base metals and across a number of mining jurisdictions.



The team delivered strong earnings growth breaching GBP 3 million while simultaneously implementing the PlatCro chrome transaction to increase our chrome operational footprint and successfully securing the funding for the implementation of our Zambian Kabwe project. This performance was achieved despite a notoriously slow operational period in January.



Our DCM fine chrome project is a remarkable achievement, delivering its first saleable chrome concentrate to the market. I look forward to the team achieving full design throughputs on the back of this success during the next period. "



Consolidated operational financial review for Q1 2019



Q1 2019 has seen continued delivery by the Jubilee team bringing into operation a further two projects, with the acquisition of the PlatCro chrome operation and the commissioning of the DCM fine chrome project.



This strong performance is expected to continue in Q2 2019 as the PlatCro PGM project is brought into production at a targeted processing rate of 60 000 tonnes per month and the acceleration of the Kabwe vanadium, zinc and lead project, following the recent acquisition of the Sable Zinc Kabwe Limited ("Sable Refinery") refinery in Zambia.



The table below presents the operational revenue and earnings performance for Q1 2019.



PGM
Project revenue (GBP'000)

Project revenue (ZAR'000)1

Jubilee attributable earnings (GBP'000)

Jubilee attributable earnings (ZAR'000)

Q4 2018

3,737

68,807

2,173

40,078

Q1 2019

3,443

62,959

1,908

34,993



CHROME

Project revenue (GBP'000)

Project revenue (ZAR'000)1

Jubilee attributable earnings (GBP'000)

Jubilee attributable earnings (ZAR'000)

Q4 2018

534

9,840

(123)

(2,267)

Q1 2019

3,117

56,945

1,309

23,854



COMBINED

Project revenue (GBP'000)

Project revenue (ZAR'000)1

Jubilee attributable earnings (GBP'000)

Jubilee attributable earnings (ZAR'000)

Q4 2018

4,271

78,647

2,049

37,811

Q1 2019

6,560

119,904

3,216

28,847



1 = Average monthly conversion rates used



Reporting timetable going forward

With the rapidly widening project footprint in terms of mining jurisdictions, and commodity basket, as well as an active expansion plan, the Board has, in consultation with a number of major shareholders, concluded that it will in future present a more detailed consolidated operational and financial review on a six monthly period while continuing with a more frequent project update. As the business continues to mature, the Board believes this will provide shareholders with a more detailed view of the Company's operational and project performance.



PlatCro operations - chrome, platinum and palladium (South Africa)



Following completion of the acquisition of the PlatCro chrome operation in mid-January 2019, the Company has successfully phased in management and operational control over the project. The chrome operation has already contributed positively to the group chrome earnings ahead of projections as the Company continues to drive efficiencies and enhance performance.



Importantly, Q2 2019 will be the first full quarter for this operation, and a more detailed operational and financial performance will be provided in the half yearly update, which the Company believes will be more reflective of the potential of this operation. The PlatCro PGM project is expected to commence with the production of platinum and palladium rich concentrates during Q2 2019, and holds the potential to double Jubilee's current PGM ounce production over the life of the project.



Hernic PGM operations - platinum and chrome (South Africa)



The Hernic PGM operation maintained a strong performance despite the power outages suffered during February and the delay in reaching full operational levels following the festive period which affected the supply of feed material during January 2019. The operations have returned to full operational levels producing in excess of 2 000 PGM ounces for April 2019.

The Company maintained the operation's low cost base producing at below USD400 per PGM ounce sold, to achieve an attributable project earnings for the quarter at GBP 1.91 million (ZAR 35 million).



DCM operation - chrome (South Africa)

Jubilee's ground breaking DCM fine chrome recovery plant, constructed during Q4 2018, has successfully advanced its commissioning phase during Q1 2019, with the first chrome concentrate being produced to target concentrate grades in January 2019 and delivered to market.



The production rate continues to be ramped up with design throughput rates of 25 000 tonnes per month expected to be reached during early Q2 2019. This new fine chrome recovery plant is a significant milestone for Jubilee as it demonstrates to the industry the recoverability of fine chrome at saleable concentrate grades.



Kabwe operation - zinc, lead and vanadium (Zambia)



As previously announced on 21 March 2019, Jubilee has entered into an agreement with two subsidiaries of Glencore plc (the "Agreement") to acquire Sable Zinc Kabwe Limited (the "Sable Refinery") in Zambia (the "Acquisition").



Closing of the Acquisition is conditional upon the fulfilment of certain conditions precedent as contained in the Agreement, including the approval of the Acquisition under the Zambian Competition Act. Jubilee has submitted its application for the approval of the Acquisition to the Zambian Competition and Consumer Protection Commission (the "Commission") and has had positive engagements with the Commission to further its review of the application.



During this interim period, Jubilee's project team has been granted access to the Sable Refinery to refine the implementation plan with a view to integrating Jubilee's vanadium, zinc and lead refining process with the existing operations at the Sable Refinery once the condition relating to the Approval by the Commission as noted above has been satisfied.



Jubilee has entered into discussions with various potential suppliers of run of mine zinc rich material within the Kabwe region. The supply of such high grade zinc material offers the potential to increase the targeted zinc refining capacity in addition to the targeted Kabwe surface material. Jubilee would only consider such processing opportunities if they are value accretive and further enhances project operating margins. Each of these opportunities are carefully considered both commercially and technically by Jubilee and ranked based on potential value addition to the Kabwe Project.



One such potential supplier of zinc ore includes Star Zinc a company in partnership with Galileo Resources PLC ("Galileo"). Jubilee is in discussions with Galileo to evaluate the pre-classification at source of a high grade zinc stream which would be suitable for further refining at Jubilee.

General


Jubilee is pleased to announce that the Company has successfully facilitated the placement of all Jubilee shares held by BMR Group PLC ("BMR") with a large institutional investment fund. BMR no longer has an interest in the ordinary share capital of Jubilee. This relates to the 2018 transaction whereby Jubilee acquired 29.01% of BMR as announced on 15 January 2018. The acquisition consideration at the time was satisfied through a combination of cash and the issue of new Jubilee shares.



United Kingdom

9 May 2019

Contacts

Jubilee Metals Group PLC

Colin Bird/Leon Coetzer
Tel [phone] / Tel [phone]


Nominated Adviser

SPARK Advisory Partners Limited
Andrew Emmott/Vassil Kirtchev
Tel: [phone]

Broker

Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel [phone]

JSE Sponsor

Sasfin Capital (a member of the Sasfin group)

Sharon Owens
Tel [phone]


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END


UPDBCGDUUBGBGCI

[freedom97] 09/5/2019 08:22

Great news, that there won't be any overhang from BMR selling its JLP shares, as many thought they were selling in open market. Most likely it was Canaccord (see 5 May RNS) that bought BMR remaining shares.

We should see a boost to earnings in next QTR and ongoing qtrs.

Well done Jubilee Team!

[bookwormrobert] 09/5/2019 08:20

Hi Goldi!
I read your posts on here with great interest and value your opinion.
Still, I'm not QUITE sure how you can be disappointed with a 57% QonQ growth in earnings and a 54% QonQ growth in revenue. I was expecting earnings of 3m, so I'm pretty happy with today's numbers.
Perhaps the best news in the RNS is that there is still room for further growth in Q2 and Q3 from the completed ramp-up at DCM, the start of PGM operations at Platcro/Eland, and no more power cuts at Hernic.
And then Kabwe / Sable should come online in Q4. Jubilee is most definitely headed upwards!

[plat hunter] 09/5/2019 08:15

Bill save your effort and filter him, he lost his shirt on BMR and has stalked JLP and JLP holders ever since.

I think he's struggling with an adjustment disorder following the obvious effect on his lifestyle that losing a skinful would have.

[billthebank] 09/5/2019 08:13

I have no time for posters with fowl language at al with one liners.Absolutely zero. Great quarterlycstats and going forward even more is coming.So pleased to remain invested. Confirmation that BMR is out is great news too.What is not to like about today's news.Holding strong and long here!!!

[sharenotes] 09/5/2019 08:13

Goldi, I can appreciate your disappointment considering your expectation. In contrast to your viewpoint I am encouraged by the earnings with all the ‘events’ in Q1 (2019). If I recall correctly, sleveen predicted earnings of £2.8M and I was in the sub £3M camp. Retuning to expectation, the growth in earnings is on a positive trajectory and that is just fine by me. Well done JLP.

[deme1] 09/5/2019 08:11

sell on news brigade

[kryptonsnake] 09/5/2019 08:02

time to slam the short on. BMR all out. That's a sign to sell

LOLsss

[1madmarky] 09/5/2019 08:01

Up she goes :-)

[1madmarky] 09/5/2019 07:53

The market markers like the update

[mirabeau] 09/5/2019 07:50

Earnings figures are subject to a multitude of adjustments and revisions so must be treated with a degree of caution. Cash-flow stats are without question the most important parameter of a company's fundamental health

[deme1] 09/5/2019 07:48

do we know who have take the bmr shares yet?

[replicas1967] 09/5/2019 07:48

4p today then !

[1madmarky] 09/5/2019 07:43

Pretty impressive gross margin as well, just shy of 50%

57% increase in quarterly operational earnings to GBP 3.22 million (ZAR 58.85 million) 
   --    54% increase in combined quarterly revenue up  to GBP 6.56 million (ZAR 119.90 million)

[goingforarun] 09/5/2019 07:42

Let’s go for 4p now!

[mirabeau] 09/5/2019 07:40

Marked up heavily

[plat hunter] 09/5/2019 07:39

Well that was quantock them taking BMR's share I guess.Atleast they're out now and no longer our problem.Everything else appears as expected and the move to 6 monthly is a good one imo. Will steady the ship on here for sure."The only way is up...Baby, for you and me, yeahhh'

[1madmarky] 09/5/2019 07:33

Goldi... more than 2000oz from hernic in April