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Unaudited Condensed Half-Yearly Financial Report for the six months to 31 December 2022

Published: 2023-03-20 10:00:30 ET

 Jubilee Metals Group Plc
 Registration number (4459850)
 Altx share code: JBL
 AIM share code: JLP
 ISIN: GB0031852162
 ("Jubilee" or the "Company” or the “Group”)


Unaudited Condensed Half-Yearly Financial Report for the six months to 31 December 2022

The directors of Jubilee are pleased to release the Company’s unaudited half-yearly results for the six
months to 31 December 2022.

H1 FY2023 highlights

    ▪   Group Revenue of £63.1 m (2021: £63.3 m)
            - Revenue contribution from combined PGM and chrome sales of £58 m and copper
                sales of £5.1 m
            - PGM basket price US$1 453/oz down 11%, partially offset by PGM operational cost
                management and production output
            - Realised copper price US$ 6 893/t down 28% on H1 FY2022 with strong market
                recovery post period
    ▪   EBITDA of £10.3 m (H1 FY2022: £13.7 m)
    ▪   Adjusted EBITDA of £11.8 m (H1 FY2022 : £14.9 m)
    ▪   Operating expenses of £9.7 m (H1 FY2022: £10.9 m)
    ▪   Strong net cash flows from operating activities of £16.9 m (H1 FY2022: £2.3 m)
    ▪   Continued investment of £24.1 m (US$28.4 m) in copper and cobalt expansions
    ▪   Closing cash position of £11.7 m (30 June 2022: £16 m)
    ▪   Earnings per share (pence) of 0.15 (H1 FY2022: 0.34)
    ▪   Headline earnings per share (pence) of 0.13 (H1 FY2022: 0.32)

Full Announcement

This short-form announcement is the responsibility of the Directors of the Company and is a summary of
the information in the full announcement released and does not contain full or complete details. The full
announcement released is available for viewing on the following websites:

Company’s website: https://jubileemetalsgroup.com/investors/rns-news/

JSE website: https://senspdf.jse.co.za/documents/2023/jse/isse/jble/jbl2023.final.pdf


Any investment decision by investors and/or shareholders should be based on consideration of the full
announcement released on SENS, copies of which are available, at no charge, on request from the company
secretary: Carina De Beer, cdebeer@jubileemetalsgroup.com.
JSE Sponsor to Jubilee




Questco Corporate Advisory Proprietary Limited
Sharon Owens
T: +27 (11) 011 9212




United Kingdom
20 March 2023

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.