26th Mar 2014 11:35
LONDON (Alliance News) - Jubilee Platinum PLC Wednesday reported a narrower loss for 2013 as it cut operating costs and revenues rose.
The AIM-listed miner reported a pretax loss of GBP1.5 million for 2013, compared with a loss of GBP3.97 million in 2012, as revenues rose to GBP2.3 million from GBP2.1 million and it cut operating costs to GBP2.6 million, from GBP4.7 million.
The company is trying to establish itself as a platinum mining company, but is currently earning its revenues from processing ferro alloy material at its smelter and providing power to the South African grid from its power plant there.
Jubilee Platinum shares were up 4.2% at 1.85 pence Wednesday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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