[miningmx.com] – NORTHAM Platinum would report an interim headline share earnings loss of between 63,2 to 81 cents owing to the consolidation of the firm’s empowerment shares and impairments.
Northam issued preference shares to Zambezi Platinum as is sought to re-empower itself and raise funds for expansions and acquisitions, but which have diluted earnings. It did not specify the impairments other than to say it was of non-core assets.
“Despite the difficult economic circumstances prevailing during the reporting period, both of Northam’s mining operations posted an operating profit,” it said, adding that the total operating profit would be 60% to 70% lower than in 2014.
