Merafe to report narrowed loss for 2020

26th February 2021 By: Marleny Arnoldi - Creamer Media Online Writer

JSE-listed ferrochrome producer Merafe Resources expects to report a basic loss a share of between 34.6c and 45.4c apiece for the year ended December 31, 2020.

This compares with a basic loss a share of 54.2c apiece reported for the prior year.

Merafe’s headline loss a share improved by between 66% and 86% year-on-year to between 0.5c and 1.1c apiece, against a headline loss a share of 3.4c in the prior year.

The company has advised that it has restated certain financial figures in its results for the year ended December 31, 2019, owing to an error in the treatment of the rehabilitation provision adjustment.

Merafe will publish a detail assessment and impact of the restatements in its financial results announcement on or about March 8.