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Solid set of numbers have been reported at Jubilee Metals, as the company’s core business Molefe Mine performs well despite facing heavy rains.
According to the company, the rains caused significant damage to road and bridge infrastructure in the surrounding area.
Statistics from the company indicate that operations continue to expand with 181 890t of Cu reef mined during the period, of which 9 130t were transported to Sable Refinery at an average Cu grade of 1.84 percent.
“As expected, the rainy season did impact our activities in various ways during the period, however, we had factored much of this into our forecasts.
“Operations have since ramped back up and access via previously damaged bridges and roads has also since improved,” said Leon Coetzer, Jubilee CEO.
He said the Molefe Mine will continue to expand heading back to the 8 500tpm level this quarter.
Coetzer further indicated that exploration drilling at Molefe with Galileo is already showing promising numbers.
“Molefe Mine continues to expand with very encouraging early results from its resource drilling program.”
Jubilee expects to complete the commissioning of the upgraded copper concentrate dewatering facility leading to increased deliveries to Sable Refinery, in the next quarter.
Meanwhile the sale of South African chrome and PGM operations are now complete and the company received the second cash instalment of US$10 million from the purchaser.
