Tharisa expects interim earnings to surge on higher commodity prices
JOHANNESBURG (miningweekly.com) – A significant recovery in commodity prices, particularly chrome, during the six months to March 31, is expected to bolster the first-half earnings of dual-listed Tharisa.
Tharisa expects to report basic earnings per share (EPS) and headline earnings per share (HEPS) for the six months under review of between 15c and 17c apiece when it publishes its financial results on May 16.
This compared favourably with the EPS and HEPS of 1c a share reported in the half-year ended March 31, 2016.
“With substantially increased chrome concentrate prices achieved during the first half of the 2017 financial year, coupled with solid operational performance, we continue to deliver on our low-cost, profitable co-product business model,” said Tharisa CEO Phoevos Pouroulis in a statement to shareholders on Tuesday.
The company’s production guidance for the full year to September 30 remains at 1.47-million ounces of contained platinum group metals and 1.3-million tonnes of chrome concentrates, of which 300 000 t will be specialty-grade chrome concentrates.
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