Tharisa warns of up to 49.8% drop in basic earnings a share
JSE-listed Tharisa Minerals’ basic earnings per share (EPS) for the financial year ended September 30, on a fully diluted basis, is expected to be between $0.27 and $0.28 with a tolerance of 10%, reflecting a decrease of between 47.9% and 49.8% relative to the EPS of $0.53 reported for the prior financial year.
This announcement, made on December 6, follows a production update issued in October, wherein Tharisa highlighted lower platinum group metal (PGM) basket prices for the year, but higher chrome concentrate prices.
At the time, the company also stated that the timeline for its Karo Platinum project development, in Zimbabwe, had been revised as a direct result of weak PGM prices and volatile macroeconomic conditions. The company said that this adjustment aimed to provide flexibility and align with funding availability.
Tharisa's headline earnings per share (HEPS) for the financial year, also on a fully diluted basis, are expected to be between $0.275 and $0.285 with a tolerance of 10%, indicating a decrease of between 30.7% and 33.1% relative to the HEPS of $0.411 for the previous year.
The Tharisa board and audit committee affirmed their commitment to the company's existing capital allocation strategy, including its dividend policy of distributing at least 15% of consolidated net profit after tax, and to the Karo Platinum development project.
The company stated that its results would be released on December 14.
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
Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...
VISIT SHOWROOM
The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...
VISIT SHOWROOM
Press Office
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
