REG - Tharisa PLC - Tharisa Trading Statement

TharisaAnnouncement

21/05/2024 13:15

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RNS Number : 3139P  Tharisa PLC  21 May 2024

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')

 

Trading statement - interim results for the six months ended 31 March 2024

In terms of section 3.4(b) of the JSE Listings Requirements, companies are
required to provide guidance to the market when they are satisfied that a
reasonable degree of certainty exists that the financial results for the
current reporting period will differ by at least 20% from the results of the
previous corresponding reporting period.

Tharisa is preparing its financial statements for the interim results of the
FY2024 financial year, with the Reviewed Interim Condensed Consolidated
Financial Statements expected to be released on or about 23 May 2024.

Tharisa's headline earnings per share ('HEPS') for the six months ended 31
March 2024 are expected to be between US 12.5 cents and US 13.5 cents per
share with a tolerance of 10%.  This is a decrease of 23.3% to 29.0% relative
to the HEPS of US 17.6 cents per share for the six months ended 31 March
2023.

Tharisa's basic earnings per share ('EPS') for the six months ended 31 March
2024 are expected to be between US 12.5 cents and US 13.5 cents per share
with a tolerance of 10%.  This is a decrease of between 22.4% to 28.2%
relative to the EPS of US 17.4 cents for the six months ended 31 March 2023,
with both HEPS and EPS being in part impacted by the nearly 40% drop in PGM
prices received and increased cost pressures.

The financial information on which this trading statement is based has not
been reviewed and reported on by the Company's auditors.

Paphos, Cyprus

21 May 2024

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 Tharisa Mine, located in the south-western limb of the
Bushveld Complex, South Africa. The mine has a 13-year open pit life and is
strategically advancing the vast mechanised underground resource which extends
for over 60 years. Tharisa is developing the Karo Platinum Project, a
low-cost, open-pit PGM asset located on the Great Dyke in Zimbabwe. The
Company is committed to reducing its carbon emissions by 30% by 2030 and the
development of a roadmap to become net carbon neutral by 2050. As part of this
energy transition, the 40 MW solar project adjacent to the Tharisa Mine is
well advanced. 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 the
Main Board of the London Stock Exchange (LSE: THS).

 

 

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