South African platinum producer Tharisa expects up to 134% earnings growth in 2021
(Kitco News) - South African platinum group metals (PGM) producer Tharisa announced today that its basic earnings per share (EPS) and headline earnings per share (HEPS) for the twelve months ended 30 September 2021 are expected to be between $37 cents and $38 cents per share with a tolerance of 10%.
The company said this is an increase of between 128% and 134% relative to the EPS of $16.2 cents per share for the year ended 30 September 2020 and an increase of between 119% and 125% relative to the HEPS of $16.9 cents per share for the financial year ended 30 September 2020.
In its statement, Tharisa noted that earnings increase is primarily due to operational improvements achieved during the year, as well as the higher PGM basket price and improved chrome concentrate prices received by Tharisa for the year under review.
Tharisa is an integrated resource group incorporating mining, processing, exploration and the beneficiation, marketing, sales and logistics of PGMs and chrome concentrates. Its principal asset is the Tharisa mine located in the South-Western Limb of the Bushveld complex, South Africa.