Jubilee Metals Group
Jubilee Metals Group Plc

Jubilee Metals Group plc (LON:JLP) is an industry leading metal recovery business focussed on the retreatment and metals recovery from mine tailings, waste, slag, slurry and other secondary materials generated from mining operations.

The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals (‘PGMs’), chrome, lead, zinc, vanadium, copper and cobalt.

Jubilee Metals Group plc

Strategy

  • Secure low risk, low capital intensive, long-term commodity production from mine surface waste materials with reduced risk and capital outlay when compared to traditional mining techniques
  • Strategically partner with mining companies and governments to develop and implement metal recovery projects from mine waste
  • Utilise advanced environmentally sustainable metal recovery techniques, ensuring a zero-effluent policy
  • Implement proven and cutting-edge metallurgical processing solutions to recover metals from historical and current mine discard material
  • Diversify earnings through exposure to multiple commodities and widening geographic footprint

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Jubilee Metals Group Copper Expansion, Power Stability, and Strategic Growth in Zambia (Video)

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Jubilee Metals Group

Jubilee Metals Group Plc share price

Fundamentals

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News

Interviews

Jubilee Metals Group CEO Leon Coetzer on Powering Growth and Expanding Copper Production in Zambia (VIDEO)

Jubilee Metals Group plc (LON:JLP) CEO Leon Coetzer joins DirectorsTalk Interviews to discuss the signing of a three-year renewable power purchase agreement with an independent hydro and solar power producer.

https://vimeo.com/1003937041

In this interview with Leon Coetzer we explore the significant strides the company is making in its copper production efforts across Zambia. Leon discusses the key drivers behind the company’s growth, the importance of a new power purchase agreement, and what shareholders can anticipate in the coming months. The conversation provides valuable insights into Jubilee Metals Group’s strategic initiatives and future outlook, highlighting the challenges and opportunities in their ongoing expansion.

Jubilee Metals Group plc is a diversified metals producer with operations in Zambia and South Africa.

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Jubilee Metals Group becoming one of the biggest chrome producers in the world (VIDEO)

Jubilee Metals Group plc (LON:JLP) CEO Leon Coetzer joins DirectorsTalk Interviews to discuss an update on the chrome joint venture in South Africa as well as an update on the expansion of its Roan Concentrator in Zambia.

Leon explains what’s been happening with regards to the PGM and chrome expansion, targeting an additional 600 000 tonnes per annum processing capacity, progressing the the Roll-out of the copper expansion strategy and what lies ahead for Jubilee over the coming months.

https://vimeo.com/856687605

Jubilee Metals Group plc (LON:JLP) is an industry leading metal recovery business focussed on retreatment and metals recovery.

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Jubilee Metals Group plc results on target, despite South African power situation (VIDEO)

Jubilee Metals Group plc (LON:JLP) CEO Leon Coetzer discusses the company’s operational update for the period ending December 31st 2022.

https://vimeo.com/799037360

Leon explains how they managed to deliver such a good set of results, considering the South African power situation at the moment, how Zambian operations were affected and how they addressed the challenge, plans for cobalt and what lies ahead for Jubilee.

Jubilee Metals Group plc (LON: JLP) is an industry leading metal recovery business focussed on retreatment and metals recovery.

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Jubilee Metals Group strong results and ready to move North at scale (VIDEO)

Jubilee Metals Group plc (LON:JLP) CEO Leon Coetzer joins DirectorsTalk Interviews to discuss recent activity and strategy going forward.

https://vimeo.com/762267624

Leon talks us through the key highlights for the period ending June 2022, challenges faced and effects, what lies ahead for Jubilee and what investors can expect in the near future from the company.

Jubilee Metals Group plc (LON:JLP) is an industry leading metal recovery business focussed on the retreatment and metals recovery from mine tailings, waste, slag, slurry and other secondary materials generated from mining operations.

Read More »

Question & Answers

Jubilee Metals Group plc

Key drivers of Copper Growth and Strategic Expansion at Jubilee Metals (LON:JLP)

Jubilee Metals Group plc (LON:JLP) Chief Executive Officer Leon Coetzer caught up with DirectorsTalk for an exclusive interview to discuss key drivers of growth, the importance of securing private power, and what we can expect from the group over the coming months.

Q1: Leon, with copper production starting to show its upward momentum now, what are the key drivers of this growth?

A1: Yes, at the copper side in Zambia, we certainly are seeing the results of a big effort that’s gone into bringing the copper production into production, of course, and then increasing it. We have three key drivers in Zambia as we drive to expand that copper production up to that target, we’ve told the market of 25,000 tonnes of copper.

It comes from three sources:

  • We’ve got our previously processed or historically processed material, which is a combination of tailings and waste products that we process.
  • We’ve got our previously mined products, which are material that’s been mined and dumped prior to being processed
  • We have the exciting area that’s developing really rapidly and this is the area where we are mining material that are very close to surface through an open-pit access.

This area of which Project Munkoyo was the first we announced, we announced Project G, and we are in negotiations and discussions to secure many more of these opportunities.

So, the resource availability, coupled to the fact that we have solved the processing solution to extract this copper, that’s the key driver that’s now coming through in our results. And putting pressure at the right place, and that is our processing capacity, as we now look to expand that footprint to drive our copper output in Zambia.

Q2: Why is the new Private Power Purchase Agreement such an important step towards achieving your growth?

A2: Zambia has taught us a couple of dear lessons, one being infrastructure and availability of power.

When we started out in Zambia and we constructed the first phase of our own project, we were hit with several power outages and a lack of available power. At the moment, Zambia is facing a severe drought. The country of Zambia generates most of its power through hydropower and therefore is coupled to the amount of water availability and to ensure that we have a strategy where we are expanding our operational footprint, it soon became very clear that we cannot pursue such a strategy in the absence of secured power.

It is why we pursued so aggressively to secure private power to supplement the power being supplied via the government’s ZESCO utility. So, we don’t only serve our current operational need, but we also serve our expected expansion over the coming year as we step up our processing capacity, a vital key ingredient to success in Zambia.

Q3: What could we expect from Jubilee Metals over the coming months?

A3: Well, hopefully what we will deliver to our shareholders is this constant upward momentum in our production output. We’ve got the Munkoyo project coming full on stream, we’ve got Project G, a mining project, coming full on stream, we’ve announced Roan being commissioned and now being ramped up.

As these three projects expand and deliver the results, we expect a significant step up in copper output. I look forward to that potential of upward revising our estimates for the year as these three projects coming on full stream now.

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Jubilee Metals Group plc

Jubilee Metals showing return of investment through growth of earnings (LON:JLP)

Jubilee Metals Group plc (LON:JLP) Chief Executive Officer Leon Coetzer caught up with DirectorsTalk for an exclusive interview to discuss their operational update, weathering the storm well in global markets and what investors can expect over the coming months.

Q1: Leon, Jubilee Metals has updated the market this morning. What were the key points in your opinion during the six month period for H2?

A1: I think the results as they show for us this past period was a massive period of delivering on two very significant strategies.

The one being in South Africa, where we completed the very large upgrade and rebuild of our South African PGM platinum group metals and chrome operations, where we expanded that operational footprint on the platinum side by nearly 45% and on the Chrome side, nearly doubling it. The chrome operations to where we are today, we target 1.2 million tonnes of chrome concentrate, making us one of the world’s biggest chrome producers with no mine. We are just a company who process waste or perceived waste and our PGM business has grown to 45,000 ounces from our own facilities.

I think that’s a very important point quite often missed by the market that previously we produced our platinum group metals, some of it’s going through our operations and a very large portion being processed through joint venture agreements, where we sacrificed high inefficiencies and cost and massively dilutive earning on that. We had taken the decision to rather expand our operations so that going forward all our production will be through our South African, our own operations. All of that was brought online during March of this year so this past six months period was only exposed roughly about three to four months of this new large facility, but already the results are coming through.

I think key results if had to pick them out is the sheer drop in our unit cost to produce a single platinum group metal basket ounce that, that basket ounce of platinum, palladium, rhodium etc. We dropped nearly 32% in cost to produce an ounce during a time when there’s inflation pressures on power, water, diesel etc and that stems from the significant increase in efficiencies we get in the scale of our operations. Of course our chrome operation, which is a by-product, we make chrome as a by-product to subsidise the operation of our platinum group metals and that expansion ensures that the subsidising of our platinum group metals all work together to reduce our unit costs to a record low for Jubilee and in fact, probably for the industry. That bodes extremely well for the next 12 months period, as we now expose the 12 months to this new operation.

Of course, it didn’t stop there. Simultaneously, we constructed built and commissioned our Southern Copper Refining Strategy now in operation in Zambia where we launched that integrated facility from a copper concentrated integrated into a copper refinery to make cathode where this capacity the system holds is starting 12,000 tonnes of copper cathode per annum. That was completed, commissioned, and brought into operation during June and July of this year, stepping up to reach roughly about now really 90% of its design capacities this week. That again, bodes really well for the next 12 months as the next 12 months we’ll see the impact of the large South African operations and the results, as well as the copper operations coming through.

Of course, we told the market that also in the background, there’s another significant potential hovering and that is the upscale of our cobalt circuit so we are targeting to get to a position where the company over this 12 months period will be producing earnings from chrome, platinum group metals, copper, and cobalt, delivering on this diversified metals producer that we promised our investors and shareholders we would deliver.

Q2: The company seems to have weathered the storm in global markets really well. Does this position you better than others in your space?

A2: Well, I think the one key thing that this world has taught us is that unit cost and control of cost is vital, margin management is vital, we can’t manage the metal prices in the market that we get but we certainly can manage our cost and unit cost.

I think if you look at our results in what we’ve achieved over the past six months as these new operations have come into being, our unit cost operations speak for themselves but we’ve ensured a very solid margin, in fact, growth in margin, even when metal prices are pulling back. Yes, that bodes particularly well for the business, that puts us in a position to capitalise from that strength, to look at other opportunities during these times that could add value to our group.

Q3: I think you’ve touched on this already, but with so much going on, what can investors look forward to from Jubilee Metals over the coming months?

A3: I think the key thing now is with this very large investment programme, nearly £60 million going into operation, most of it from our own cash. What investors can now look forward to is the returns on that investment, the returns from this very large commissioned operational South African business in chrome and PGMs and equally the returns now to come through in Zambian copper business and operations with the cobalt being added.

I think that is what investors should expect from us, to really show that return of that investment through the growth of our earnings and operations over the next period.

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investing

Premier Miton Trust seeking to generate a good and growing income for clients over the longer term (LON:PMI)

Premier Miton Investors plc (LON:PMI) Head of Equities Gervais Williams caught up with DirectorsTalk for an exclusive interview to discuss his view on the markets throughout 2022, the outlook for Miton UK Microcap Trust and the Diverse Income Trust and the reasoning behind picking some of the largest holdings in the portfolios.

Q1: As we start the new year, what’s your view on the markets and the various forces at play throughout 2022?

A1: I think when we look back over the last couple of years, we’ve seen some major economic challenges; we’ve had the pandemic, we’ve had a global recession, we’ve seen some inflationary pressures recovering but what has happened is actually equity markets have performed very strongly. I think that’s really down to a very substantial amount of financial stimulus and indeed low interest rates through the period.

I think going forward into 2022, I think we’re going to find that some of those tailwinds come to an end and indeed we might find markets a little more unsettled. It may be that inflation remains a little bit more persistent than we would like, it may be that the cost of labour begins to increase and remains a more significant bearing on costs, it may be that the cost of debt also is harder than it has been for some years.

So, from that point of view, I think we’ve got a slightly mixed pattern going forward, I think markets will struggle to deliver the returns they’ve delivered in the last couple of years.

Q2: Now, you personally manage two investment trusts, the Miton UK Microcap Trust plc (LON:MINI) and the Diverse Income Trust plc (LON:DIVI). Given your views on the outlook, why do you think investors may be interested in your funds at this time?

A2: What’s been interesting about the last decade or two really is that we’ve seen a very long period of very strong growth, from China in particular, world growth has been relatively good and that’s meant that earnings growth across many businesses has been pretty good over the last 10 or 20 years.

I think when you combine that with this surge of low cost goods, which has come into countries like the UK and other developed markets and we’ve seen that offsetting any inflation pressures, it’s meant that interest rates, and particularly long dated bond yields, have moved to very low levels i.e. the valuation of bonds has moved to very high levels and that’s driven up the valuation of assets.

So I think the long period of rising earnings and more favourable valuation metrics has been a very good period when actually all stock markets around the world pretty much have had a pretty good period of returns.

I think going forward, I think those tailwinds are coming to an end and I think that markets themselves may not produce much return. I think this is probably a time when active managers are selecting stocks to enhance return and the management of risk so there’s less downside risk potentially in some of the funds is particularly important and I think that’s going to become a more relevant factor in selecting funds for the future.

Q3: Just looking across some of your larger holdings, you’ve had a fantastic track record of picking stocks that deliver strong share price performance. Some of the largest holdings; K3 Capital, Kenmare Resources, Jubilee Metals and recently IPO’d Saietta Group, can you talk us through the reasoning behind picking those stocks?

A3: The main issue is that when we select stocks, we look for stocks which are going to generate abnormal cash surpluses. If we’re lucky enough to pick correctly, then those companies, as they generate that cash, pay not just good dividends but growing dividends. It’s a feature of the Diverse Income Trust that we’re seeking to generate a good and growing income for clients over the longer term.

In the case of K3 Capital (LON:K3C), it’s not just that the company has been successful but what’s interesting as a quoted company, they were able to make acquisitions at difficult times, they’re made two or three acquisitions, which they described as transformational back in July of 2020. Clearly the markets were lower, they had two issues from shares at a lower level, but what’s been interesting is that subsequently those companies have actually generated enhanced cash for the business as a whole. That’s meant that dividend growth has been very strong and the share prices have tended to perform for that reason.

Kenmare Resources (LON:KMR) is a different example. Kenmare is a mining business, it’s involved in ilmenite and ilmenite is the core ingredient in paint. It’s a fairly stable market but they’ve been investing for many years to bring their new ilmenite mine on stream, it’s in Africa, and most particularly as that’s come on stream, a lot of the return on the investment they’ve been making a lot 15 years has come through. That company, again, has generated plentiful surplus cash and has seen dividend growth and share price performance as a result of that.

Taking a look at some of the smaller companies you mentioned, things like Jubilee Metals (LON:JLP) and Saietta Group (LON:SED).

Jubilee is a company which has been overlooked for many years, it’s been a company which has been taking a previous old mining tailings. These are mines which might have been operating perhaps 50 or 60 years ago and whilst in those days they took out as much metal as they could, they’ve still got quite a lot of metal in those oars. Clearly, they’re slightly polluting in that they’ve got heavy metals and they’re on surface so they go around various countries in Africa, Zambia, South Africa, they take those old ore dumps and they refine the metals out of them. That tends to clean up the sites, it generates a very substantial cash balance for them and that’s been interesting in that that company itself has also benefited from the rise in commodity prices over the last couple of years. So, generally again, very substantial cashback payback on previous returns and that in time, we expect to be reflected in dividends.

Saietta is a slightly earlier stage business, it’s a business which was listed in the middle of last year, middle of 2021. It’s a business which is involved in electric motors, specifically it’s a business where we believe that it’s electric motor could be very applicable, particularly to some of the developing markets such as India. As you know, India and other developing markets often have a problem with smog in the centre of their cities and that’s particularly related to the use of moped engines. The Saietta engine looks as though it could be well positioned to help the local moped manufacturers to manufacture electric engine, obviously less smog. Most particularly, as that starts to come through, then we believe that it’ll generate both substantial cash.

Once again, though, it’s worth emphasizing that they were lucky enough being a quoted company to take advantage to the weakness of others. As you know, Evergrande, the Chinese company has had financial problems and they actually bought a competitor of Saietta some years ago and Saietta have actually been able to acquire that from Evergrande for a very low entry price, much, much lower than the price that Evergrande paid for it. So, they’ve improved their market position by buying an asset from a distressed seller at a very low entry price, again, hopefully enhancing of not just growth prospects but also ability to generate cash.

Premier Miton Investors is a genuinely active investment manager offering a range of funds and investment trusts, as well as a portfolio management service, covering equity, fixed income, multi asset and absolute return investment strategies

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