Strike, stoppages cane Northam earnings

[miningmx.com] — NORTHAM Platinum advised on Tuesday that the group’s earnings per share and headline earnings per share for the six months ended December 31 2010 are estimated to be between 15 cents and 25 cents.

This compares with the 59.9c per share for the previous comparable period – a decline of between 58% to 74%.

The mining group said the anticipated decline in earnings stems primarily from lower sales revenues due to the strike and production interruptions as a results of safety related stoppages in the beginning of the financial year.

It is anticipated that the interim results for will be released on or about February 25 2011.