StockMarketWire.com - Jubilee Metals swung to an annual profit on a sharp uptick in revenue as production was bolstered by better-than-expected output at the newly acquired Windsor operations.

For the year ended 30 June 2019, the company reported a pre-tax profit of £7.9m from a loss of £2.4m on-year as revenue increased by 66.83% to £23.59m.

Inyoni operations delivered a record production of 23, 847 ounces, up from 17, 354 ounces, generating revenue of £14.90m, up from £ 9.52m, and the Windsor operations delivered 149, 272 tonnes of chrome concentrate since January 2019, generating revenue of £ 5.75m.

'Windsor operations, which commenced operations in late August 2019 and exceeded expectations by delivering 5 337 PGM ounces for the month of September 2019 alone, which is more than double that of the PGM ounces produced from the Inyoni operations,' The company said.



At 9:02am: [LON:JLP] Jubilee Platinum PLC share price was +0.33p at 4.65p



Story provided by StockMarketWire.com