Jubilee Metals (JLP) H1 2026 earnings summary

Executive summary

• Completed sale of South African chrome and PGM operations, enabling strategic focus on Zambian copper assets and strengthening the balance sheet.

• Achieved significant operational progress in Zambia, with Roan concentrator production up 172.8% year-over-year and Molefe Mine expansion on track.

• Enhanced ESG performance, including a reduced Lost Time Injury Frequency Rate to 0.23 and expanded community initiatives.

Financial highlights

• Copper revenue rose 70.5% to $14.1 million (H1 FY2025: $8.3 million); copper gross profit increased 847.6% to $3.1 million.

• EBITDA from continuing operations improved by 169.3% to $2.0 million (H1 FY2025: loss of $2.9 million).

• Net cash position at $11.5 million (30 June 2025: $4.6 million); net debt reduced to $8.0 million (30 June 2025: $15.9 million).

• Group loss for the period was $9.3 million (H1 FY2025: profit of $2.5 million), with a loss from continuing operations of $4.7 million.

• Basic loss per share from continuing operations was (0.20) US cents (H1 FY2025: (0.14) US cents).

Outlook and guidance

• Copper production guidance for FY2026 (4,500t–5,100t) under review due to weather-related disruptions and infrastructure upgrades; full capacity expected to resume in April 2026.

• Large Waste Project and Molefe Mine expansion expected to drive future growth, with partnership discussions ongoing.