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Financial|Gold|Platinum
Financial|Gold|Platinum
financial|gold|platinum

Northam expects 220% rise in full-year headline earnings

Northam's Zondereinde mine

Northam's Zondereinde mine

13th August 2019

By: Marleny Arnoldi

Deputy Editor Online

     

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JSE-listed platinum group metals producer Northam Platinum expects to report a more than 220% year-on-year increase in its normalised headline earnings for the financial year ended June 30, to about R1.3-billion.

The company attributed the higher earnings to a solid operational performance from its Zondereinde and Booysendal mines, as well as to contained unit cash costs and a higher basket price.

Northam produced a record 519 954 oz of platinum, palladium, rhodium and gold in the financial year under review, with output 7.4% higher than that produced in the prior financial year.

The company expects its headline earnings a share to be between 14.8c and 16.8c, which reflects an increase of between 107.4% and 108.4% year-on-year.

The company will release its financial results on or about August 23.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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