https://www.miningweekly.com

Northam expects to widen H1 losses

9th February 2018

By: Creamer Media Reporter

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Northam Platinum expects to have widened its interim loss a share and headline loss a share by 20% to 40%.

The platinum miner on Friday said it was likely to post a loss a share of 77.7c to 90.7c for the six months ended December 31, compared with the loss a share of 64.8c reported for the six months to December 31, 2016.

Its headline loss a share for the six months under review is expected to widen to between 77.6c and 90.5c, compared with the headline loss a share of 64.7c reported for the prior comparable period.

Northam attributed the increased losses to the Zambezi Platinum preference share dividends that are consolidated in the group’s results.

“The Zambezi preference shares accrue dividends at a cumulative variable dividend of 3.5% over the prime overdraft interest rate in South Africa. Shareholders are reminded that 159.91-million Northam shares are held for settlement of the Zambezi preference share liability in terms of the Northam guarantee and the accrued dividends are consolidated into the Northam results as a noncash item for Northam,” the company stated.

It added that both its operating mines – Zondereinde and Booysendal – were expected to record an operating profit for the six months under review, despite the difficult market conditions facing the platinum industry.

Northam will publish its interim results on February 23.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.144 0.183s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: