JUBLILEE Mines NL has announced a record $16.9 million first half-year profit with shareholders expected to share the spoils of the company’s best ever production levels and stronger nickel prices through an 8 cent interim dividend.
Jubilee Mines is less than three years into nickel production at the Cosmos Nickel Mine, north of Leinster in the Goldfields region of Western Australia.
Almost 30,000 tonnes of nickel concentrate was produced during the first half for 5,828 tonnes of contained nickel.
The profit was a 241.5 per cent increase on the previous corresponding period and was achieved on a 61.5 per cent surge in sales revenue of $65 million.
The company will move mid-year from its open pit to an underground operation giving the mine an estimated extra five years of operation.
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