Wesizwe Platinum withholds year-end results
(Kitco News) - Due to country-wide lockdown in South Africa, Wesizwe Platinum said Monday it is delaying publication of the company’s 2019 financial results.
The company said the annual statements have been prepared along with weighing the impact of COVID-19.
"As the company’s financial statements had not yet been formally approved by the Board at the time of the announcement of the lockdown, and in line with IAS 10 'Events After the Reporting Period', the company is required to make further assessments and update its forward looking assumptions to review the possible impact, if any, of the lockdown on the financial results. In light of the above, management and the auditors undertake to complete the abovementioned assessments and release the IAR as soon as is practically possible," said the company in a news release.
Wesizwe said the lockdown required the Bakubung Platinum Mine be put into care and maintenance for 21 days.