Tharisa output rises in fourth quarter; Vulcan plant on track for 2020 completion
StockMarketWire.com - Chrome and platinum group metals producer Tharisa posted a rise in fourth-quarter output, though production was still down for the full year.
Reef tonnes mined in the three months through September rose 8% to 1,248.2 tonnes.
Platinum group metals recovery was 84.7% with production up 11% to 38k ounces.
'In the year under review Tharisa significantly reset its mining operations, with a revised pit layout, an improvement in waste stripping and the debottlenecking of the production plants,' chief executive Phoevos Pouroulis said.
'Though this translated into lower production than last year's record performance, the significant work done provides Tharisa with a clear path to delivering on our Vision 2020 strategy.'
'The key remaining investment to achieve our production goal, the Vulcan plant, is under construction and remains firmly on track for commissioning in calendar fourth-quarter 2020.'
At 9:17am: (LON:THS) Tharisa Plc share price was +1p at 112.5p
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