Northam Platinum remains cautious about production and other estimates - CNBC Africa

Northam Platinum remains cautious about production and other estimates

Mining

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In a trading statement released on Thursday,  [DATA NHM:Northam platinum] said its operations remain vulnerable to, inter alia, factors affecting the South African general mining industry and, in particular, the platinum sector.

“Should such wage negotiations result in industrial action, Northam’s operations may be affected. Northam therefore remains, until such time as clarity in the mining industry in general and in respect of Northam’s operations specifically has been achieved,” Northam Platinum said in a statement

The group’s earnings and headline earnings per share for the year ended 30 June 2013 are estimated to be between 60 per cent and 70 per cent higher than in the previous comparable period.

Earnings per share of 81.2 cents and headline earnings per share of 80.9 cents were reported for the year ended 30 June 2012.

“The anticipated increase in earnings reflects, inter alia, higher sales volumes, coupled with a higher average basket price realized during the period under review, in comparison with the previous comparable period, notwithstanding certain production interruptions experienced during the financial year,” Northam said in a statement

The weighted average number of shares in issue during the year ended 30 June 2013 was 382 560 902, compared to 382 426 483 shares in issue during the year ended 30 June 2012.

Northam said that at the time of the announcement and for the foreseeable short to medium term, the South African mining industry remains engaged in industry wide wage negotiations.

It is anticipated that the reviewed preliminary results for the year ended 30 June 2013 will be released on or about 15 August 2013.

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