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Jubilee’s March performance

IN its quarterly report to the stock exchange, Jubilee Mines released solid production data and encouraging drilling results at its Cosmos nickel deposits near Leinster. During the March quarter, Jubilee produced 11,533 tonnes of nickel concentrate, with total mining costs at $4.51 per payable tonne of nickel. The company added that costs were on-track to stay within budgeted forecasts. Jubilee said that it was in a position to deliver a generous fully franked final dividend for this financial year in line with the company’s strong financial position that includes $117.6 million in cash and receivables with no debt. Jubilee shares closed over 2 per cent higher on the news.

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