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Tharisa Minerals – Record Q4 production, 2017 looking even better.

Tharisa Minerals (THS.L)

Modifications to Voyager’s Plant chrome processing circuit in H1 FY2016 to facilitate increased production of higher value speciality grade chrome concentrates, enables Tharisa to distribute to more globally diversified markets. The average PGM basket price for quarter ended September was US$804 oz, which was US$59 an ounce higher than previous quarter. Metallurgical grade chrome prices increased 50% during the fourth quarter with an average contracted selling price of $157/t.

Highlights for year ended 30 September 2016.

  • PGM production exceeds guidance at 132.6 koz, +12% y/y.
  • Chrome concentrate production meets guidance at 1.24Mt, +10.8% y/y.
  • Specialty chrome concentrate production 269.4kt +138.8% y/y.
  • Record annual reef mined at 4.837 Mt (+15.6% y/y);  achieved a quarterly production record of 1.267Mt.
  • Optimisation initiatives in place to achieve targeted recovery of 65% for chrome concentrates. Recovery averaged 62.7% in FY2016.
  • FY2017 production guidance 147.4 koz PGMs and 1.3 Mt chrome concentrates of which 300 kt will be specialty grade.

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