Eastern Platinum Limited Reports Results for the First Quarter of 2023

Alleen voor leden beschikbaar, wordt daarom gratis lid!

Overig advies 13/05/2023 06:20
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2023) - Eastern Platinum Limited (TSX: ELR) (JSE: EPS) ("Eastplats" or the "Company") is pleased to report that it has filed its condensed interim consolidated financial statements for the three months ended March 31, 2023 and the corresponding management's discussion and analysis. Below is a summary of the Company's financial results for the first quarter of 2023 ("Q1 2023") (all amounts in USD unless specified) in comparison to the same respective period in 2022 ("Q1 2022"):

Revenue for Q1 2023 increased to $22.1 million (Q1 2022 - $17.4 million), representing a 26.7% increase. The increase in revenue for Q1 2023 was primarily due to an increase in free market chrome sales to third parties in the period offset by a reduction in platinum group metals ("PGM") revenue in the period as spot PGM prices, notably palladium prices, were lower in the current period than in the comparable period.
Mine operating income increased by $1.8 million (or 53.8%) to $5.2 million in Q1 2023 (Q1 2022 - $3.4 million), resulting in an improved gross margin of 23.7% in Q1 2023 from 19.5% in Q1 2022.
Operating income was $3.5 million in Q1 2023 compared to operating income of $0.1 million in Q1 2022.
Net income attributable to equity shareholders was $1.3 million ($0.01 earnings per share) in Q1 2023 versus net income attributable to equity shareholders of
$3.0 million ($0.02 earnings per share) in Q1 2022. The decrease in net income was largely attributable to a foreign exchange loss incurred in Q1 2023 as the South African Rand weakened against the U.S. Dollar.
The Company had a working capital deficit (current assets less current liabilities) of $35.2 million as at March 31, 2023 (December 31, 2022 – working capital deficit of $39.5 million) and short-term cash resources of $3.8 million (consisting of cash, cash equivalents and short-term investments) (December 31, 2022 - $2.4 million).
The Company has a primary listing on the Toronto Stock Exchange and a secondary listing on the JSE Limited.

The Company has filed the following documents, under the Company's profile on SEDAR at www.sedar.com:

Condensed interim consolidated financial statements for the three months ended March 31, 2023; and
Management's discussion and analysis for the three months ended March 31, 2023.
The condensed interim consolidated financial statements for the three months ended March 31, 2023

are available for download at https://www.eastplats.com/investors/quarterly-reports/F2023/



Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord


Copyrights © 2000 by XEA.nl all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.


Copyrights © DEBELEGGERSADVISEUR.NL