RE: Salene Chrome Mystery7 May 2024 19:26
Moneyman, I agree and we will find out on 23rd May.
1. I am expecting H1 turnover of $342m (PGM 78/chrome 239/agency 23/manufacturing 1.7). I am expecting those "speciality " chrome grades to be steady.
2. We already know that in H1 the Company milled 709,300 tonnes more than mined (over 25% of the milled total) which assuming no stock adjustments is roughly the "bought in" materials for processing that you mention (this is included in the "cost of commodities" in the overall Cost of Sales), likewise in H2/2023 the same number was 544,600 tonnes. So the H1 Cost of Sales will include the cost of this bought in material. I am assuming total costs of $286m (Cost of Sales $257m , other operating expenses $29m, other net costs zero) .This gives PBT $56m, total PAT $43m , PAT attributable to shareholders $41m.EPS 13.6 cents, HI dividend 2.25 to 2.5c. It would be good to know what others expect!
3. Karo capex should be steady until the ring fenced financing is in place which will probably delay the project another year into 2026.