JSE-listed chrome miner Merafe Resources expects to report basic earnings per share (EPS) of between 34.7c and 39.3c for the six months ended June 30, which would be a 51% to 71% improvement on the basic EPS of 23c reported for the six months ended June 30, 2021.
The company says its financial performance for the period under review benefitted from higher chrome ore and ferrochrome prices, as well as a weaker average rand:dollar exchange rate.
Merafe posted attributable ferrochrome production of 203 000 t for the six months under review, compared with 199 000 t in the prior comparable period.
The company’s net cash balance sits at R1.01-billion, with no debt as at June 30.
Merafe will release its financial results for the interim period on or about August 23.