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General information

Sector: Basic Materials

The company is not available at Interactive Brokers

Jubilee Metals Group Plc (JSE:JBL) principal activities are that of recovering Platinum Group Metals (PGMs) and chrome through the reprocessing of historical surface mine waste and materials. The Group has also diversified its portfolio to include other countries and other elements and metals such as copper, cobalt, lead, zinc and vanadium in Zambia.

Jubilee is the exclusive partner to Hernic Ferrochrome, the world’s fourth largest integrated ferrochrome producer. This gives Jubilee access to historic tailings and current tailings from Hernic.

Jubilee's strategy is to:


  • 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



  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -8.7% (LTM), projected -8.7%
  • Share price is 25.5% higher than minimum and 66.9% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (7.4x vs
    )
  • The company is overvalued by EV / projected EBITDA multiple compared to target level (10.2x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)1.3800
Share price, USD: 0.072921
Common stocks: 2 876 811 594

Dividend Yield:  0.0%
FCF Yield LTM / expected: -8.7% / -8.7%
EV / LTM EBITDA: 7.4x
Last revenue growth (y/y):  -2.2%
Last growth of EBITDA (y/y):  -41.0%
Historical revenue growth:  +52.3%
Historical growth of EBITDA:  +29.3%
EV / expected EBITDA:
Target EV / EBITDA (hist percentile):
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 210
Net Debt ($m): 10
EV (Enterprise Value): 219
EBITDA LTM ($m): 30
EV / LTM EBITDA: 7.4x
Price to Book: 0.84x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

EV / EBITDA

Potential dynamics

Reuters Headlines

South Africa`s Implats plans gradual return to operation after regulations eased

Impala Platinum`s (Implats) chief executive of its Rustenburg operations appeared in court on Friday on charges of allegedly contravening South Africa`s lockdown rules by calling non-essential workers back to work, the company spokesman said.

2020-04-17

JSE:IMP JSE:AVI JSE:JBL

S.Africa`s Implats plans gradual return to operation after regulations eased

South Africa`s Impala Platinum (Implats) said on Friday it would gradually return to work after the government relaxed regulations on miners during the coronavirus lockdown.

2020-04-17

JSE:IMP JSE:AVI JSE:JBL

Insider trades

Production and reserves

Production

More information for subscribed users:
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Potential and Created Value,
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Releases

2022-08-10
Operations and Projects Update for the six months to 30 June 2022
2022-07-26
Exercise of warrants
2022-07-14
change to the board
2022-07-13
Zambia Progress Update
2022-06-13
Dealing in securities
2022-05-30
Exercise of options
2022-05-27
Granting of options to directors
2022-05-26
Appointment of new Chairman, changes to senior leadership roles and new Joint-Broker Appointment
2022-05-16
Results of General Meeting
2022-05-16
Investment Programme Delivers Significant Growth Across PGM and Copper Operations
2022-04-20
Correction to date of GM
2022-04-19
Notice of General Meeting
2022-03-24
Unaudited Condensed Interim Results For The Six Months Ended 31 December 2021
2022-03-14
Notification of changes in shareholding
2022-03-07
conversion of debt to equity
2022-02-08
Six Month Operations Update
2021-12-29
Results of AGM
2021-12-29
Jubilee - Live presentation on 29 December 2021
2021-12-17
Strategic update – Global Development Opportunities
2021-12-02
Audited results, Notice of AGM availability of AFS
2021-11-17
Copper and PGM Projects Update
2021-09-21
Change in shareholding

SENS Announcements

2024-03-28
Update on copper projects and expansion of chrome operations
2024-03-06
Exercise of Options
2024-03-06
Formation of dedicated executive boards for South African and Zambian Operations and Changes to the board
2024-02-28
Interim Results 2023 Investor Presentation Re-scheduled
2024-02-26
Unaudited interim financial report for the six months ended 31 December 2023
2024-02-08
Zambia Copper Expansion Update
2024-01-23
Operational and Projects Update Q2 FY2024
2024-01-04
Form TR1 - Standard Form for Notification of Major Holdings
2024-01-03
Results of General Meeting
2023-12-18
Results of Placing, Notice of General Meeting, Investor Webcast
2023-12-18
Proposed Placing to raise approximately £10 million
2023-12-13
Response to shareholder correspondence regarding a General Meeting
2023-12-12
Strategic Investment in a Historical Waste Rock Dump in Zambia
2023-11-21
Investor Webcast
2023-11-17
New Corporate Presentation
2023-11-03
Results of AGM
2023-11-01
Q1 Operational Report to 30 September 2023
2023-10-17
Jubilee announces award of a significant New Slag Project with Mopani Copper Mines
2023-10-11
Short-form announcement: Audited Results for the Year Ended 30 June 2023 Notice of AGM and Integrated Annual Report
2023-10-05
Notice of Results Publication
2023-09-29
TR 1 Notification
2023-08-21
South Africa and Zambia Project Expansion Update
2023-08-14
Appointment of Chief Financial Officer - New Strategic and Operational Executive Team
2023-07-20
Operational Update for the full year to 30 June 2023
2023-06-06
Expansion of chrome and PGM footprint
2023-05-04
Exercise of warrants
2023-04-24
Company update
2023-03-20
Unaudited Condensed Half-Yearly Financial Report for the six months to 31 December 2022
2023-03-17
Notice of Results Publication
2023-02-17
Dealing in securities
2023-02-17
Dealings in securities
2023-02-16
Investor presentation: general update and refinement of Zambian strategy
2023-02-15
Refinement of Zambian Strategy and Operations Update for the six months to 31 December 2022
2023-01-24
Notification of change in shareholding
2023-01-23
Exercise of warrants
2023-01-19
Exercise of warrants
2023-01-18
Exercise of Warrants
2022-12-19
Zambia Copper and Cobalt Operations Update Corporate Update and Exercise of Warrants
2022-11-24
Exercise of Warrants
2022-11-22
Copper and Cobalt Operations Update
2022-11-18
Exercise of warrants
2022-11-17
Results of AGM
2022-11-17
CANCELLATION OF S468503 Results of AGM
2022-11-17
Results of AGM
2022-11-04
Exercise of warrants
2022-10-25
Audited results, notice of AGM and availability of AFS
2022-10-21
Notice of publication of year end financial results
2022-09-14
Exercise of warrants
2022-09-05
Project Roan Copper Project Achieves Nameplate Capacity
2022-08-25
Exercise of warrants
2022-08-10
Operations and Projects Update for the six months to 30 June 2022
2022-07-26
Exercise of warrants
2022-07-14
change to the board
2022-07-13
Zambia Progress Update
2022-06-13
Dealing in securities
2022-05-30
Exercise of options
2022-05-27
Granting of options to directors
2022-05-26
Appointment of new Chairman, changes to senior leadership roles and new Joint-Broker Appointment
2022-05-16
Results of General Meeting
2022-05-16
Investment Programme Delivers Significant Growth Across PGM and Copper Operations