RE: General14 Nov 2019 07:54
Cut and Pasted from Jubilee metals annual results published to day....another CB company ..They are growing remarkably quickly imo....
Financial
Jubilee is now producing considerable cash, meeting its market promises and delivering its
development strategy. For the period we reported earnings of 0.48 (2018: loss of 0.18) pence per
ordinary share. We delivered strong cash flows from operating activities of £ 4.76 million (2018:
£ 0.96 million), with cash and cash equivalents tripling from year earlier, to £ 18.9 million.
Outlook
This is a truly exciting time for Jubilee Metals. We are looking at a number of acquisitions and
cash accretive investments within our portfolio, with a determination to continue the exceptional
growth shown during the financial year under review. We have a robust project pipeline and
acquisition opportunities to augment our rapid growth strategy and believe our unique positioning,
technical knowhow and team will enable us to create significant further value for shareholders.
We are mindful that growth and success can bring its own problems and we review, on a routine
basis, the risks against the business. These risks are often outside our control and as such, we are
determined to position ourselves and work diligently on all matters, which might not lead to an
enhanced cash flow, but will lead to security of tenure and community acceptance.
I conclude by thanking our Chief Executive, Leon Coetzer, who has put in extreme effort over all
fronts to achieve these results, supported by an excellent team. I also welcome our newcomers in
the various disciplines, who I have no doubt will continue to drive this Company onwards and
upwards.
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