Jubilee Metals Group said its Hernic project was positioned to benefit from increased metal prices for palladium and rhodium after reporting Monday the project had topped production targets early in its life cycle.

The Hernic project exceeded 2,500 platinum group metals ounces produced in a single month during October 2018, the company said.

'It is very gratifying to see our Hernic project deliver and exceed even on its stretched design targets so early in the project's life cycle,' Leon Coetzer, Chief Executive Officer. 'The project has breached, for the first time, 2 500 PGM ounces produced in a single month.'

'This strong performance continues to favour Jubilee to benefit from the strong palladium and rhodium prices which forms part of the PGM basket produced at Hernic.'

'The current Q4 is yet another exciting period for Jubilee with the expected commissioning of the state of the art Dilokong Fine Chrome project as well as the PlatCro PGM project.'

At 8:13am: (LON:JLP) Jubilee Platinum PLC share price was +0.1p at 2.2p