REG - Jubilee Metals Group - Operational Update Q3 FY2025

Jubilee MetalsAnnouncement

16/04/2025 07:00

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RNS Number : 1612F  Jubilee Metals Group PLC  16 April 2025

Jubilee Metals Group Plc

Registration number (4459850)

AIM share code: JLP

Altx share code: JBL

ISIN: GB0031852162

("Jubilee" or "Company" or "Group")

 

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Operational Update South Africa

Q3 FY2025

Jubilee, a diversified metals producer with operations in South Africa and
Zambia, today publishes its South Africa operational and project update for
the third quarter ended 31 March 2025 (Q3 FY2025), reflecting a strong nine
months to 31 March 2025, putting the division on track to exceed performance
targets for the financial year to 30 June 2025.

Highlights

 §   South Africa reported Lost Time Frequency Injury Rate of 1.40 (Q3 FY2024:
     1.45) with no classified injuries reported.
 §   Chrome concentrate production for Q3 FY2025 up 10.7% to 452 561t (Q3 FY2024:
     408 710t).
 §   Year to date production for the nine months to 31 March 2025 reached
     1 427 220t, up 26.7% from 1 126 506t for the comparative nine months ended
     31 March 2024, with revised guidance increased to 1 850 000t of chrome
     concentrate for the financial year ending 30 June 2025.
 §   The new chrome processing modules built at Thutse are expected to contribute
     significantly to the production performance of chrome during the remainder of
     H2 FY2025.
 §   6E Platinum Group Metals* (PGM) production reached 11 171 oz for Q3 FY2025 up
     34.0% from the previous quarter (Q3 FY2024: 8 339 oz).
 §   Year to date PGM production reached 29 606 oz, up 3.6% from 28 583 oz for
     the comparative nine months ended 31 March 2024, with revised guidance
     increased to 38 000 oz of PGM production for the financial year ending 30
     June 2025.
 §   Post period end, as announced on 9 April 2025, the Company entered into a
     joint partnership agreement to commence processing of surplus PGM feed stock.

 

*  6E PGM - Platinum, palladium, rhodium, ruthenium, iridium and gold

South Africa production guidance for FY2025

§ Chrome concentrate Revised production guidance of 1.85Mt (previously
1.65Mt).

§ PGM Revised production guidance of 38 000 oz (previously 36 000 oz).

Statement from Leon Coetzer, Jubilee CEO:

"I am pleased with the solid set of production numbers that our well embedded
South African operations have produced for both the March 2025 quarter and
also the first nine months of the financial year to 30 June 2025.

The successful implementation of the Thutse project in partnership with the
resource owner has increased the original chrome concentrate guidance by 12%
to 1.85 million tonnes for the FY2025 period. Our Inyoni PGM plant continues
to operate at full capacity and improved input PGM grades together with the
recently announced joint partnership agreement to process excess PGM feed
stock, have increased the original guidance by just under 6% to 38 000 PGM oz.

The PGM joint partnership agreement, which targets the processing of the
increasing PGM feed stocks due to our expanding chrome operations, affords us
the opportunity to expand our PGM production capacity by an approximate 30%
without the need of spending any capital."

Production performance Q3 FY2025

The table below presents the unaudited operational production performance of
South Africa for Q3 FY2025:

 OPERATIONAL PERFORMANCE          Q3 FY2025  Q3 FY2024  % change  9m to 31 March  2025   9m to 31 March 2024  % change
 SOUTH AFRICA
 Production
  Chrome                  tonnes  452 561    408 710    10.7%     1 427 220              1 126 506            26.7%
  PGM                     Oz      11 171     8 339      34.0%     29 606                 28 583               3.6%

 

16 April 2025

 

For further information visit www.jubileemetalsgroup.com
(http://www.jubileemetalsgroup.com) , follow Jubilee on X (@Jubilee_Metals) or
contact:

Jubilee Metals Group PLC

Leon Coetzer (CEO)/Jonathan Morley-Kirk (FD)

Tel: +27 (0) 11 465 1913 / Tel: +44 (0) 7797 775546

 

Nominated Adviser - SPARK Advisory Partners Limited

Andrew Emmott/James Keeshan

Tel: +44 (0) 20 3368 3555

 

PR & IR Adviser - Tavistock

Jos Simson/Gareth Tredway

Tel: +44 (0) 207 920 3150

 

Joint Broker - RBC Capital Markets

Farid Dadashev/Jamil Miah

Tel +44 (0) 20 7653 4000

 

Joint Broker - Zeus Capital

Harry Ansell/Katy Mitchell

Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618

 

JSE Sponsor - Questco Corporate Advisory Proprietary Limited

Alison McLaren

Tel: +27 63 482 3802

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