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Tharisa PLC

Tharisa PLC makes further operational improvements

Tharisa has previously alerted the market to a number of headwinds it is facing, which means half-year earnings will likely be around three-fifths lower year-on-year.

Underground miner
The metallurgical grade chrome concentrate price has softened this year

Resources company Tharisa PLC (LON:THS) said production volumes and recoveries of both chrome concentrates and platinum group metals (PGMs) are on an upward trend.

In a statement covering the six months to the end of March, the company said it expects the positive trend in production and recoveries to continue into the second half of the financial year.

READ Tharisa now ‘on track’ to meet its 2020 production targets

Operational improvements have continued into the third quarter of the fiscal year and production guidance for the financial year ending 30 September 2019 remains at 150,000 ounces (oz) of contained PGMs and 1.4mln tonnes of chrome concentrates.

Tharisa's earnings per share for the half-year period are expected to be 4 US cents per share, give or take 10%.

 

Quick facts: Tharisa PLC

Price: £1.16

Market: LSE
Market Cap: £306.27 m
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