(Alliance News) - Jubilee Metals Group PLC reported higher production for platinum group metals and copper, as it touted optimism for the future.
The London-based metal processing company with projects in South Africa and Zambia said in the first quarter that ended September 30, chrome concentrate production fell 2.2% to 336,683 tonnes from 344,315 tonnes a quarter ago.
Meanwhile, Jubilee's Inyoni asset in South Africa, which owns about one million tonnes of platinum group metals rich material, increased platinum group metals output to 10,113 ounces in the first quarter, up 8.2% from 9,350 ounces a quarter ago.
Further, Jubilee Metals said copper cathode and copper in concentrate production surged 43% to 934 tonnes from 653 tonnes quarter-on-quarter.
Chief Executive Officer Leon Coetzer said: "Our upcoming ventures, from the potential expansion of our chrome operations to our first life-of-mine copper ore off-take agreement, reinforce our strategic vision. Partnerships with companies like Mopani Copper Mines and Draslovka underscore our focus on growth and innovation. In conclusion, our improved operational margins across segments highlight our team's efforts and strategic foresight. I remain extremely optimistic about Jubilee's future and the trajectory on which the company is headed."
Jubilee Metals shares fell 0.6% to 5.47 pence each on Wednesday afternoon in London. In Johannesburg, they rose 4.1% to ZAR1.27 each.
By Tom Budszus, Alliance News reporter
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Jubilee Metals (JLP)