| Tue 7 Jun 2016, 17:00 | | THARISA PLC - Appointment of broker |
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THA 201606070042A
Appointment of broker
Tharisa plc
(Incorporated in the Republic of Cyprus with limited liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
ISIN: CY0103562118
('Tharisa' or ‘the Company’)
Appointment of broker
Tharisa, the platinum group metals and chrome co-producer, is pleased to announce the
appointment of Peel Hunt LLP as broker to the Company with immediate effect.
By order of the Board
Paphos, Cyprus
7 June 2016
JSE Sponsor
Investec Bank Limited
For further information, contact:
Tharisa plc ir@tharisa.com
Sherilee Lakmidas +27 11 996 3538
Peel Hunt LLP +44 (0)20 7418 8900
Matthew Armitt
Ross Allister
About Tharisa
Tharisa is an integrated resources group incorporating mining, processing, beneficiation, marketing,
sales and logistics of platinum group metals (‘PGMs’) and chrome concentrates. The Company’s
primary asset, the Tharisa Mine, which is located on the southwestern limb of South Africa’s
Bushveld Complex, has an estimated open pit life-of-mine of approximately 20 years, and a further
estimated underground life of mine of approximately 40 years.
The Tharisa Mine’s processing facilities comprise the Genesis Plant and the Voyager Plant, both PGM
and chrome concentrators, with a design capacity of processing a total of 400 ktpm of ROM ore. In
the financial year ended 30 September 2015 the Tharisa Mine produced PGM concentrates
containing 118 koz of 6E concentrate and chrome concentrates of 1.1 Mt including 112 kt of higher
value chemical and foundry grade chrome products, generating a consolidated EBITDA for Tharisa of
US$29.0 million and a profit before tax of US$9.6 million.
The quarter ended 31 March 2016 saw the Group record improvements in a number of key areas,
including reef mined exceeding the steady state required run rate of 4.8 Mtpa, mill throughput
performing at nameplate design capacity of 400 ktpm and contained PGM production on a 6E basis
meeting the steady state production level of 144 koz (all on an annualised basis).
Following a period of weak commodity prices subsequent to the end of FY 2015, both chrome
concentrate prices and demand have recorded a recovery during Q3 FY 2016 as demand returns to
previous levels with current transaction prices at approximately US$145 per tonne versus an average
of US$106 per tonne for H1 FY 2016.
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