reports
- Hybridan Team
- Jon Levinson
Hybridan Small Cap Feast: 06/08/2025
Our daily digest of news from UK Small Caps 6th August 2025 @HybridanLLP * A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of listing and date of announcement. ****Alphabetically arranged and Closing Price on prior day to Publication. Dish of the day Admissions: Delistings: Yesterday, Marlowe (MRL.L) left AIM What’s baking in the oven? ...
- David Seers
- Paul Smith
Jubilee Metals (JLP LN) - South Africa: Operational Update - Corporate
Jubilee today provides an operational update for its Q4 and FY 2025 South African chrome and Platinum Group Metal (PGM) production. Record chrome was produced during the quarter at 506kt (up 19% from Q42024 422kt) and for the year 1.93Mt (up 25% from 1.55Mt in FY2024). PGM production was 38.6koz (36.1koz). Chrome marginally beat guidance of 1.85Mt with PGM inline with production expectations. We are guided that “with the increased chrome production, we have been able to maintain earnings in Sout...
- Hybridan Team
Hybridan Small Cap Feast: 05/06/2025
Our daily digest of news from UK Small Caps 5th June 2025 @HybridanLLP * A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) or similar announcement has been made ***Arranged by type of listing and date of announcement ****Alphabetically arranged Dish of the day Admissions: Delistings: G3 Exploration (G3E.L) has left the Main Market. What’s baking in the oven? Potential** Initial Public Offerings...
- Hybridan Team
Hybridan Small Cap Feast: 28/05/2025
28th May 2025 @HybridanLLP Status of this Note and Disclaimer This document has been provided as a general market commentary and is issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as investment advice; a recommendation; an offer to sell; nor solicitation of any offer to buy any security or other financial instrument. Nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract rel...
- David Seers
- Paul Smith
Jubilee Metals (JLP LN) - Zambian copper projects update - Corporate
Jubilee today provides an update on its metallurgical test work in Zambia. Trials on high-grade run-of-mine (ROM) material for the Roan concentrator have been completed and a long-term supply agreement put in place: this will firm up forecasts with Jubilee expecting between 240 – 360 tonnes per month (tpm) of copper units. The trials on the ROM and the transitional “waste” ore have also shown promise with recoveries of 65% copper achieved. This provides confidence in the “Large Waste Project” wi...
- David Seers
- Paul Smith
Jubilee Metals (JLP LN) - Operational update - Corporate
Jubilee today reports its South African operations update for the third quarter of Fiscal Year 2025 (ended 31 March 2025). Following the successful installation and commissioning of chrome modules at Thutse, full year guidance for chrome concentrate and PGM production has been revised upwards to exceed initial forecasts.
- David Seers
- Paul Smith
Jubilee Metals (JLP LN) - Partner secured to process growing PGM surf...
Jubilee reports today that it has reached an agreement with a South African PGM producer to process its growing PGM surface stocks. The partnership will combine Jubilee’s PGM feedstock and the technical knowhow with spare capacity at the unnamed partners processing facility, earnings will be split equally. This additional production will enhance underlying profits in the PGM division. In the absence of this agreement the chrome tailings (PGM surface stockpiles) would continue to accumulate which...
- Hybridan Team
- Jon Levinson
Hybridan Small Cap Feast: 03/04/2025
Our daily digest of news from UK Small Caps @HybridanLLP 3rd April 2025 * A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) has been announced, or it is a rumour ***Arranged by type of listing and date of announcement ****Alphabetically arranged Share prices and market capitalisations taken from the current price on the day of publication Dish of the day Admissions: Delistings: Market Movers: Sw...
- David Seers
- Paul Smith
Jubilee Metals (JLP LN) - Operational update and interims for the peri...
Jubilee today provides us with its interim figures for the period ending December 2024. Jubilee operates a Chrome-PGM division in South Africa which, while expanding, is established and a growing copper production division in Zambia. South Africa is on track to exceed original production guidance after an exceptional final quarter in Q2 of 0.52Mt of chrome concentrate (0.97Mt in H1 FY2025). Current guidance is maintained at 1.65Mt chrome for the FY2025. PGM production is also on track to meet it...
- Hybridan Team
- Jon Levinson
Hybridan Small Cap Feast: 06/02/2025
Our daily digest of news from UK Small Caps @HybridanLLP 6th February 2025 * A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) has been announced, or it is a rumour ***Arranged by type of listing and date of announcement ****Alphabetically arranged Share prices and market capitalisations taken from the current price on the day of publication Dish of the day Admissions: Delistings: What’s baking i...
- Paul Smith
Jubilee Metals (JLP LN) - Stable power and plan to accelerate copper p...
Jubilee today announce that stable power is being delivered to its Roan concentrator in Zambia. Fluctuating power caused Jubilee to shut down the plant in December and this may have an impact on copper production over the course of FY25 (ending June 2025). To help make up the shortfall Jubilee has invested to secure the rights to an initial 200kt of copper material grading approximately 1.6% copper. There is an option to increase the initial 200kt allocation with the potential to secure a long-t...
- David Seers
- Paul Smith
Jubilee Metals (JLP LN) - Operational update for H1 2025 - Corporate
Jubilee today provides an update for its first half FY 2025, ending December 31 2024. Dealing with the positives in South Africa chrome production reached record highs at 975kt (vs 718kt in the same period FY 2024) up an impressive 36% as two new chrome producing units at Thutse were commissioned with Jubilee well on its way to its 1.65Mt guidance for the Financial year. PGM production remained on track at 18.4koz (target for the year 36koz). In Zambia, Jubilee continued to deal with problems be...
Hybridan Small Cap Feast - 7 November 2024
tatus of this Note and Disclaimer This document has been provided as a general market commentary and is issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as investment advice; a recommendation; an offer to sell; nor solicitation of any offer to buy any security or other financial instrument. Nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. The in...
- David Seers
- Paul Smith
Jubilee Metals (JLP LN) - Jubilee Q1 2025 operational update
Jubilee today updates on its Q1 performance and provides details for FY2025 guidance – for the year-ending June 2026 – and some further details on future process options. So a good solid quarter from Jubilee, with the copper operations (and not forgetting the chrome in South Africa) on a growth path – in line with our expectations. For full year guidance Jubilee states it intends to produce 6kt copper (in concentrate and cathode) from its Zambian operations as it enters the ramp-up phase at Ro...
- Paul Smith
Audio Note: Jubilee Metals - Audited results for FY24 (June)
In this audio note, Zeus’ Paul Smith summarises the investment case for Jubilee Metals. Jubilee recently announced its audited results for FY24 which ended in June. Revenues rose to $205.4m from $170.9m in FY2023 (Zeus estimate was $208.8m).
Hybridan Small Cap Feast - 3 October 2024
* A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: Base Resources (BSE.L) has delisted from the AIM market What’s baking in the oven? Potential**** Initial Public Offerings: ITF announced: 30th September 2024: Applied Nutrition, the sports nutrition, health and wellness brand announced that it is con...
- David Seers
- Paul Smith
Jubilee Metals (JLP LN) - Audited results for FY24 (June)
Jubilee today announces its audited results for FY24 which ended in June. Revenues rose to $205.4m from $170.9m in FY2023 (Zeus estimate was $208.8m). Group EBITDA fell to $27.7m from $29.8m (Zeus $26.6m) with eps falling from 0.58c/sh to 0.21c/sh (0.3c/sh). Capex fell to $36.9m from $65.9m with gross cash at the end of the period at $19.3m from $15.9m at the end of June 2023. Chrome is now poised to take on more of a roll in operating cash flow and profits as the Thule plants are brought on str...
- David Seers
Jubilee Metals (JLP LN) - Jubilee secures power in Zambia - strengthen...
Jubilee today announces that it has signed a 3-year renewable power agreement with Lunsemfwa Hydro Power Co (LHPC). The agreement will provide all of the power needs for the Sable copper refinery and the Roan concentrator with an additional agreement that Jubilee can purchase a further 10MW of solar power to provide electricity as it expands its operational footprint in Zambia. We see this as a great deal for Jubilee as it secures power and reduces any outages (providing both extra security and ...
- David Seers
Jubilee Metals (JLP LN) - Q4 Production update
Jubilee this morning announces its Q4 production update and production for the financial year ending June 2024. Copper production was 3.4kt in Zambia with 1.55Mt chrome concentrate and 36koz Platinum Group Metals (PGMs) produced in South Africa. Toward the end of the year we saw real progress in Zambia with the Roan concentrator finally finished and commissioned just post-period. Jubilee is also ramping up copper production from its Munkuyo open pit project which, along with a new project (Proje...
- David Seers
Jubilee Metals (JLP LN)
Jubilee today reports on the ramp-up at its Roan concentrator in eastern Zambia. Roan now has two circuits; one processing Run-of-Mine ore (ROM) and one processing lower-grade material. Capacity is now doubled to roughly 13kt/yr copper in concentrate (depending on input grade). In the first instance all the concentrate will be trucked to Jubilee’s own Sable refinery (capacity 14kt/yr cathode, 2kt/yr copper concentrate). However, once the nearby Munkoyo and “Project G” open pits are in product...
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