Tharisa Plc (TIHRF)
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Tharisa hits chrome production record after 'scene-setting' year
South Africa-based miner Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) said chrome output in the year just ended was the highest in its history with platinum group metals (PGM) production also steady. Chrome output totalled 426,000 tonnes (kt) in the fourth quarter and 1.7Mt for the year overall, compared to 1.58Mt in the year ended September 2023.
Tharisa secures long-term supply of renewable power
Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) has signed a long-term Power Purchase Agreement (PPA) for wheeled renewable energy for the Tharisa Mine on the Bushveld Complex of South Africa. The 15-year agreement with Etana will see 44% of Tharisa Mine's electricity energy supplied via wheeled energy from wind and solar farms in the Western Cape and Northern Cape using existing grid infrastructure.
Tharisa broker upbeat on miner's prospects after Q3 update
Broker Peel Hunt detected some reasons to be cheerful in the latest production report from South Africa-focused mining group Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF). In its update, the company said its platinum group metals (PGM) output in the third quarter was 36,900 ounces, up from 35,300 ounces in the previous quarter.
Tharisa delivers "operationally as planned" after solid quarter
Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) said it delivered operationally as planned in the third quarter with improved mining and plant recoveries resulting in overall platinum group metal (PGM) and chrome concentrate production increases. The South African miner increased PGM output to 36,900 ounces, up from 35,300 ounces in the previous quarter.
Tharisa helped by chrome arm as platinum prices slip
Tharisa said the first half of its current year showed the benefit of its two-commodity strategy with rises in chrome concentrate helping to offset another slide in the platinum metals basket. Phoevos Pouroulis, chief executive, commented: “We absorbed a nearly 40% decrease in PGM prices, countered by a 16% increase in chrome concentrate prices, maintaining our EBITDA in line with last year's comparable number while investing heavily in our future growth.
Tharisa helped by chrome arm as platinum prices slip
Tharisa said the first half of its current year showed the benefit of its two-commodity strategy with rises in chrome concentrate helping to offset another slide in the platinum metals basket. Phoevos Pouroulis, chief executive, commented: “We absorbed a nearly 40% decrease in PGM prices, countered by a 16% increase in chrome concentrate prices, maintaining our EBITDA in line with last year's comparable number while investing heavily in our future growth.
Tharisa earnings hit by weak platinum prices and higher costs
Tharisa, the platinum and chrome miner, said headline earnings per share (HEPS) for the six months ended 31 March 2024 are expected to be between US 12.5 cents and US 13.5 cents per share with a tolerance of 10%. This is a decrease of 23.3% to 29.0% relative to the HEPS of US 17.6 cents per share for the six months ended 31 March 2023.
