Tharisa Minerals eyes interim profit hike of 500%
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JOHANNESBURG - CHROME ore and platinum group metals (PGM) producer Tharisa Minerals expects to post a leap of up to 500 percent in interim earnings during the six months ended March 2021 on higher metal prices, it said yesterday.
Tharisa said basic earnings per share and headline earnings a share for the six months ended March 2021 would jump to between US 21 cents (R2.95) and US 22 cents with a tolerance of 10 percent relative to earnings per share and headline earnings a share of US 3.6 cents and US 3.7 cents per share a year earlier.
In April Tharisa announced that PGM production had improved by 11.5 percent on a 6E basis in the March quarter of 2021, and that chrome concentrate production had increased by 15.5 percent compared to a year earlier.
The 6E basket is the total of platinum, palladium, rhodium, gold, iridium and ruthenium. The average PGM basket price averaged $3 290 an ounce during the March quarter up 80 percent compared to a year earlier.