Western Areas beats full-year guidance
JOHANNESBURG (miningweekly.com) – ASX-listed Western Areas on Thursday said that unaudited nickel sales had exceeded the 2013 guidance provided at the end of May by nearly 1 000 t, with stronger-than-expected sales in June resulting in a record year of 27 819 t of nickel in concentrate being sold.
The previous record in the 2012 financial year was 26 271 t of nickel in concentrate.
Western Areas MD Dan Lougher said the record sales, combined with the company’s unrelenting focus on cost management, had also delivered a significantly higher unaudited cash position of A$80-million at financial year-end, compared with the guidance around A$70-million.
Accordingly Western Areas’ free cashflow generation for the quarter would be about A$22-million.
“The ability of the Western Areas workforce to deliver what will be 12 consecutive quarterlies without an operational downside is magnificent, and it would be remiss not to highlight that these results have been achieved with no lost time injury hours,” Lougher said in a statement.
The remaining items for which guidance was provided in May, including production, unit cash costs, capital expenditure and exploration, were still being finalised. However, the company confirmed that it would be either in line or better than the May guidance.
Western Areas’ quarterly report would be issued during the week beginning July 22.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.
VISIT SHOWROOM
ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
