REG - Tharisa PLC - Debt facilities with Absa Bank and Standard Bank

TharisaAnnouncement

Wed 07:00

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RNS Number : 1131H  Tharisa PLC  12 November 2025

Tharisa plc

(Incorporated in the Republic of Cyprus with limited liability)

(Registration number HE223412)

JSE share code: THA

LSE share code: THS

A2X share code: THA

ISIN: CY0103562118

LEI: 213800WW4YWMVVZIJM90

('Tharisa' or the 'Company' or the 'Group')

 

THARISA SIGNS NEW DEBT FACILITIES WITH ABSA BANK LIMITED AND THE STANDARD BANK
OF SOUTH AFRICA LIMITED

 

Tharisa, the mining, metals, and innovation company dual-listed on the
Johannesburg and London stock exchanges, is pleased to announce it has,
subject to the fulfilment of certain conditions precedent, signed a US$130
million debt facility (the 'Facility') with Absa Bank Limited (acting through
its Corporate & Investment Banking division), as initial mandated lead
arranger and co-mandated lead arranger, and the Standard Bank of South Africa
Limited (acting through its Corporate & Investment Banking division) as
co-mandated lead arranger, as part of the Company's ongoing debt capital
programme.

The Facility comprises a four-year term loan of US$80 million (with an
accordion of

US$20 million) and a revolving ZAR900 million (c.US$50 million) credit
facility, with the application of funds being applied in prepaying the balance
of the existing term loan and revolving credit facility, general corporate and
working capital purposes including investing in the sustainability of the
Tharisa Mine.

 

Michael Jones, CFO of Tharisa, commented:

"We are pleased to have successfully executed the debt facilities agreement,
an important milestone in strengthening our capital structure and positioning
the Tharisa Mine for long-term sustainable growth, as we transition to
underground mining. This transaction reduces our overall cost of capital,
extends our debt maturities, and enhances financial flexibility-allowing us to
better navigate changing market conditions and continue investing in our
strategic priorities.

The enhanced balance sheet reinforces our commitment to prudent financial
management and value creation for shareholders. I want to thank our lending
partners for walking this exciting journey with us, and our advisors for their
support throughout this process."

 

Cash Balance and Debt Position as at 30 September 2025

Group cash on hand of US$173.0 million (30 June 2025: US$164.6 million), and
debt of US$104.4 million (30 June 2025: US$121.5 million), resulting in a
net cash position of US$68.6 million (30 June 2025: US$43.1 million).

 

Paphos, Cyprus

12 November 2025

 

JSE Sponsor

Investec Bank Limited

 

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Investor Relations Contacts:

Ilja Graulich (Head of Investor Relations and Communications)

+27 11 996 3500

+27 83 604 0820

igraulich@tharisa.com (mailto:igraulich@tharisa.com)

 

Broker Contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / Georgia Langoulant

+44 207 418 8900

 

BMO Capital Markets Limited (UK Joint Broker)

Thomas Rider / Nick Macann

+44 207 236 1010

 

Berenberg (UK Joint Broker)

Matthew Armitt / Jennifer Lee / Detlir Elezi

+44 203 207 7800

 

About Tharisa

Tharisa is an integrated resource group critical to the energy transition and
decarbonisation of economies. It incorporates exploration, mining, processing
and the beneficiation, marketing, sales, and logistics of PGMs and chrome
concentrates, using innovation and technology as enablers. Its principal
operating asset is the multi-generational Tharisa Mine, located in the
south-western limb of the Bushveld Complex, South Africa. Tharisa is also
developing the Karo Platinum Project, a tier-one PGM asset located on the
Great Dyke in Zimbabwe, while simultaneously focusing on beneficiation in the
form of chrome and PGM alloys. A 15-year Power Purchase Agreement for the
procurement of wheeled renewable energy and a 40 MW solar project will ensure
that Tharisa Minerals' drive to reduce its carbon footprint by 30% by 2030 is
well within reach, forming a major part of a roadmap to become net carbon
neutral by 2050. Redox One is accelerating the development of a proprietary
iron chromium redox flow long-duration battery utilising the commodities we
mine. Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and
has an Equity Shares (Transition) Category listing on the London Stock
Exchange (LSE: THS).

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