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Tharisa has released its Q2 and interim production report for FY2024. Generally the production numbers were flat for both PGMs and Chrome and slightly below our forecast. In the case of PGMs this was due to lower recoveries due to ore type and in Chrome the company executed a routine maintenance programme on the plant. The company has maintained guidance for the full year however so we expect a robust second half followed by low risk growth in output as we head into FY25. Meanwhile Chrome pric
Companies: Tharisa Plc
Tamesis Partners
Companies: CZR THS SHG FXPO BMN RBW GEMD CCZ LUC
SP Angel
Tharisa has released its Q1 production report for the first quarter of FY2024. The company has had a strong quarter, in what is usually a tougher quarter to perform in, due to the festive season and heavier rains. Tharisa produced record chrome of 462kt, 6% ahead of our forecast and up 12% q-o-q. PGM production is largely in line with our forecast at 35.7koz and up 16% q-o-q. Guidance has been re-iterated, and Karo is well on track to meet the revised timeline for first ore in mill in June 2
Companies: Tharisa Plc (THS:LON)Tharisa Plc (THA:JSE)
Tharisa has released its full year results for the year ending 30th September. The company had already released operational data and close EPS guidance so these results were all about filling in the missing pieces. Revenue was in line, EBITDA of $136.8m was light by 8% and PBT likewise by 5% due to slightly higher unit costs. As expected, the year on year changes were poor as commodity prices fell in the face of rising inflation. The clear differential though is the net cash position as capex fo
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Tharisa has released its production report for Q4 and financial year ended FY2023 as well as their cash and debt balance. Overall, there was a small miss vs our estimates in both PGM and Chrome production. However, the operational data showed the company is now recovering from some of the in-pit waste issues at the Tharisa mine. The Vulcan processing plant is also starting to deliver. The net cash position for the year was $127m as the company's capex programme has been slightly delayed but we
THA has released its Q3 Production report FY2023 today.
Tharisa has released its consolidated half year financial statements this morning. Overall, the figures are behind our forecasts due to higher-than-expected costs due to inflationary pressures. Nonetheless, the Company has done well to improve their net cash position from $80m to $113m) ahead of their expansion in Zimbabwe as well as proposing an interim dividend of US 3.0 cents/share. This leaves the shares trading on a dividend yield of 6.2% which should attract attention.
Tharisa has released its production report for Q2 FY23 today. Mining in the pit has continued to be impacted by unprecedented rainfall at the Tharisa mine reducing operational flexibility. As done in Q1, the company continued to mitigate the impact on production using their stockpiles to maintain feed to the plants. However, PGM production reduced by 20% QoQ primarily due to the lower PGM recoveries through the Voyager and Genesis Plants. Chrome concentrate production was up 6% and into a stron
Research Tree provides access to ongoing research coverage, media content and regulatory news on Tharisa Plc. We currently have 72 research reports from 6 professional analysts.
NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat
Companies: NextSource Materials Inc
Capital Access Group
Falcon has raised gross proceeds of US$8.9m via a placing and subscription at a price of 6p/share and the granting of overriding royalty interests. The net proceeds, together with Falcon’s existing cash resources (cUS$4.3m) will be used to fund Falcon’s net share of 2024 capex (cUS$9m) associated with the 40MMscf/d Shenandoah South Pilot Project, including the drilling, stimulation, and flow testing of two 10,000ft horizontal wells. The funds will also enable Falcon to fund its share of the cost
Companies: Falcon Oil & Gas Ltd.
Cavendish
Beowulf is advancing a portfolio of projects in Europe focussed on metals and minerals that are critical to enabling the continent’s transition to a greener economy. Awareness of Europe’s over-reliance on external supply sources for such vital raw materials is driving growing political support for ‘home-grown’ projects. Beowulf is strategically positioned to leverage this fast-evolving trend – its Kallak project in Sweden holds potential to deliver high-quality iron ore to lower the carbon-inten
Companies: Beowulf Mining PLC
Alternative Resource Capital
Companies: FOG PHC FEN BBSN ELIX
Companies: 88E CNC FTC TRCS HEIQ CREO ZAM
Despite end market demand remaining difficult in several regions Trifast has announced that revenue and profitability will be marginally ahead of the guidance provided at the end of January. Self-help initiatives instigated during 2023 are starting to come through providing visibility on the majority of the £3.0m savings identified to come through in the current financial year (Mar FY25). Zeus estimates were in line with guidance of £230m revenue, £11.5m EBIT and £6.0m PBT. We leave forecasts un
Companies: Trifast plc
Zeus Capital
i3 Energy announced that its 2024 guidance consists of expectations to drill 10.5 net wells (7.6 net wells in Central Alberta, 1.9 net wells in Simonette and 1.0 net wells in the Clearwater play) with 85% of capex allocated to the second half of the year. Total capex expenditure for the year is guided at $US 50.9m. The company indicated that it intends to commence pad drilling of its Montney acreage in Q1 2025 and we perceive the company is bulking up for that significant growth opportunity for
Companies: i3 Energy Plc
WHIreland
Companies: MPE TRI VNET BVXP HVO
• Multiple tests over multiple zones in multiple horizons were run at the Mopane-1X exploration well. The flows achieved during the well test reached the maximum allowed limits of 14 mboe/d. The flow rate was constrained by the size of the available surface facilities. • The AVO-1 horizon encountered at Mopane-1X and Mopane-2X are in the same pressure regime, suggesting that the entire area (8 km diameter) between the two wells is connected. Overall, in the Mopane complex alone, and before dril
Companies: SINTANA ENERGY
Auctus Advisors
Companies: Touchstone Exploration Inc
Shore Capital
Beowulf is an AIM/Spotlight-listed developer of two flagship assets; Kallak, a high-grade iron ore project in Sweden and the Grafintec Graphite Anode Materials Plant. The Company's Kallak North project has the potential to produce 2.5mtpa of high-grade, premium iron ore concentrate suitable for the growing green steel industry in Sweden. Additionally, Grafintec's Anode Material Plant Project is well positioned to serve the growing EV battery supply chain in Europe, whilst supporting EU plans
Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August
Companies: Jubilee Metals Group PLC
Companies: Ferrexpo plc
Liberum
Companies: AURA OMI AAL KAV POW BMN EST SVML
Companies: CLA STM GLN FXPO KAV GWMO CEY BHP THX EEE
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