Jubilee Metals Group PLC
LSE:JLP
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Jubilee Metals Group PLC
LSE:JLP
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Jubilee Metals Group PLC
Jubilee Metals Group Plc is a platinum focused mining and exploration company, which engages in the exploration and exploitation of natural resources. The firm focuses on the retreatment and metals recovery from mine tailings, waste, slag, slurry and other secondary materials generated from mining operations. The firm's segments include Metals Processing, Business Development, Exploration and Corporate. The Metals Processing of PGM, chrome and copper-containing materials. The Business Development is focused on the development and implementation of process solutions, specifically targeting both liquid and solid waste streams from mine processes. This includes existing pilot operations as part of the process development cycle to provide mature solutions which include extractive-metallurgy, pyro-metallurgy and hydro-metallurgy. The Company’s operations span across five countries, South Africa, Australia, Mauritius, Zambia and the United.
Jubilee Metals Group Plc is a platinum focused mining and exploration company, which engages in the exploration and exploitation of natural resources. The firm focuses on the retreatment and metals recovery from mine tailings, waste, slag, slurry and other secondary materials generated from mining operations. The firm's segments include Metals Processing, Business Development, Exploration and Corporate. The Metals Processing of PGM, chrome and copper-containing materials. The Business Development is focused on the development and implementation of process solutions, specifically targeting both liquid and solid waste streams from mine processes. This includes existing pilot operations as part of the process development cycle to provide mature solutions which include extractive-metallurgy, pyro-metallurgy and hydro-metallurgy. The Company’s operations span across five countries, South Africa, Australia, Mauritius, Zambia and the United.
Accounting focus: Management spent most of the call explaining how the interim accounts were prepared, especially the treatment of South Africa as a disposal group and discontinued activity under IFRS.
Going concern: Management said they believe Jubilee remains a going concern, and noted that the annual audit opinion and directors’ evaluation have not changed.
One Chrome: The $90 million receivable from One Chrome remains on track, with $25 million already received on time and no impairment review triggered so far.
South Africa: Chrome operations were hurt by a strong rand, while PGM prices rose sharply; together, the South African businesses still produced a $4.5 million net loss for the 6 months.
Zambia: Zambia performed in line with internal expectations, but management said results would have been better if production had reached a higher level; rain was a headwind and a centrifuge is due online soon.
Cost risks: Sulfuric acid availability and rising diesel-linked transport costs were flagged as near-term concerns, and management is still working on a better financing structure in Zambia.
