[miningmx.com] – MERAFE Resources said the weakness of the rand against the dollar and higher ferrochrome production would help interim headline share earnings by up to 142% higher.
Commenting in its half-year production and trading statement, the ferrochrome producer also said that its Lion II project facilities were ramping up production helping it to a net cash position of R19m.
It has total debt owing to Absa Capital of R592m compared to R581m at the interim in the previous financial year and R65m utilisation of the short term inventory facility. The company is due to report its figures on August 12.
