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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about our business.
Investor
Relations Contacts:
Ilja Graulich (Head of Investor
Relations and Communications)
+27 11 996 3500
+27 83 604 0820
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).