Tharisa, the PGM and chrome co-producer, anticipates its FY2017 earnings per share and headline earnings per share to be significantly higher than in FY2016.The company issued a trading statement informing the market that it expects its FY2017 earnings per share (EPS) and headline earnings per share (HEPS) to be between US$ 21 cents and US$ 23 cents.
This compares to the EPS of US$ 5 cents per share and HEPS of US$ 6 cents per share for the year ended 30 September 2016.
Tharisa’s financial results are expected to be released around 30 November 2017.
“While the PGM basket price remained relatively flat year on year the realised average chrome concentrate price increased to US$200/t for the financial year. This combined with record annual PGM and chrome production, resulted in the increase in the earnings of the company,” says Phoevos Pouroulis, Chief Executive of Tharisa.
Production guidance for the financial year ending 30 September 2018 is 150 000 oz of contained platinum group metals (on a 6E basis) and 1.4 Mt of chrome concentrates of which 350 000 t will be specialty grade chrome concentrates.