A bit of good news was wondering what was happening with the price heading downwards every day.
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Another set of excellent results from the team at Jubilee. 
Total revenue for the year increased by a strong 143% to £ 133 million (ZAR 2.8 billion)1 (2020: £ 54.8 million (ZAR 1.1 billion))
Attributable operational earnings growth of 183% to £ 71 million (ZAR 1.5 billion) (2020: £ 25 million (ZAR 494.5 million)) and a return on equity of 35.4%, compared with 21.2% in the previous year
Adjusted profit before tax up 324% to £ 52 million (ZAR 1.1 billion) (2020: £ 12.3 million (ZAR: 242 million))
Profit after tax adjusted for non-cash expenses including impairments, gain on bargain purchase and share based payments up 194% to £ 49 million (ZAR 1 billion) (2020: £ 17 million (ZAR: 331 million))
Adjusted earnings per share up 163% to 2.25 pence (ZAR 46.66 cents) (2020: 0.86 pence (ZAR 16.9 cents))
Revenue and earnings growth was achieved during a period of substantial infrastructure investment, integration and planned operational downtime and has provided a tremendous platform for further future growth
Jubilee delivered strong cash flows from operating activities of £ 23.8 million (ZAR 108 million) (2020: positive cash flow of £ 19.4 million (ZAR 415.4 million))
During the year under review, a total of £ 19.8 million (ZAR 391.9 million) was invested in acquisitions and purchases of property, plant and equipment compared with the previous year’s total investment of £ 26.1 million (ZAR 558 million) while a further £ 1.8 million (ZAR 35.5 million) (2020: £ 4.2 million (ZAR 89 million)) of external debt obligations were repaid
Earnings per share up 93%, to 1.81 pence (ZAR 37.50 cents) (2020: 0.94 pence (ZAR 18.47 cents))
The Group boosted its operating profit by a strong 189%, to £ 45.9 million (ZAR 949 million) (2020: profit of £ 15.9 million (ZAR 313.2 million)), with an operating margin of 35% (2020: 29%)
The Group’s balance sheet strengthened substantially, with total assets increasing by 49 %, to £ 195 million (ZAR 3.9 billion) (2020: £ 130.6 million (ZAR 2.8 billion))
Total equity increased to £ 136.5 million (ZAR 2.7 billion), from £ 94.2 million (ZAR 2 billion) the year earlier, maintaining a strong equity ratio of 70% (2020: 72%)
oThe Group’s gearing remains low, with the net cash position and current assets4 covering 147% (2020: 92.7%) of total liabilities
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Why the sharp drop in price today?
They released a 6 month operations update this morning. All is not looking rosey at the Zambian project by the sounds of things. I think that may have a lot to do with the drop, but I haven’t read or digested the whole RNS yet. I just gave it a quick skim.
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