[miningmx.com] – FERROCHROME producer, Merafe Resources, said it will post interim headline earnings of between 4.7 cents to 5.3 cents per share weaker – a decline of up to 47% year-on-year.
The lower earnings was primarily owing to a decrease in net ferrochrome prices and an increase in expenses, the company said in a trading statement published on the Johannesburg Stock Exchange News Service.
The company’s net overdraft balance would come in at R70m as of June 30 compared to a balance of R162m on December 31. Total debt owing to Absa and Standard Bank totalled R609m, a decline of R8m as of December 31, it said.
