https://www.miningweekly.com

Merafe improves production, cuts debt levels

INCREASED VALUE
Merafe Resources expects to report basic earnings a share of between 20c and 23.5c for the full year, compared with the 13.7c recorded in the prior year

INCREASED VALUE Merafe Resources expects to report basic earnings a share of between 20c and 23.5c for the full year, compared with the 13.7c recorded in the prior year

Photo by Duane Daws

3rd February 2017

By: Ilan Solomons

Creamer Media Staff Writer

     

Font size: - +

JSE-listed Merafe Resources’ attributable ferrochrome production from the Glencore Merafe Chrome Venture for the year ended December 31 increased by 4% to 107 t, compared with the 101 t produced in 2015.

Merafe said in statement last week that it expected to report basic earnings per share of between 20c and 23.5c for the full year, compared with the 13.7c recorded in the prior year, which would be an increase of between 46% and 72%.

Headline earnings per share are also expected to increase by 44% to 69% to between 20c and 23.5c, compared with 13.9c in the prior year.

Merafe expects its net cash balance to decline to R263-million as at December 31, compared with R310-million at the end of 2015, while its debt is expected to decrease to R409-million from R660-million the year before.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 
Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.047 1.018s - 122pq - 2rq
Subscribe Now