Mantengu Mining expects huge earnings increase despite production woes
Mantengu Mining Limited (JSE: MTU) anticipates a significant increase in earnings per share ("EPS") for the year ended February 28, 2025, projecting EPS of 148 cents, a 14,700% jump compared to the 1 cent EPS of the prior year. The headline loss per share is expected to decrease by 2,400%. While production ramped up through the end of calendar year 2024, severe flooding in January and February 2025 negatively impacted chrome operations, causing a revenue loss of ZAR38 million and a profit decrease of ZAR30 million. Chrome concentrate market prices also fell by approximately 30% before rebounding in March 2025. However, production is recovering and the company expects to reach approximately 15,000 tonnes of chrome concentrate production for May 2025 and 25,000 tonnes from June onward. Additionally, Mantengu's acquisition of Sublime Technologies became effective in December 2024, with Sublime's results to be consolidated into Mantengu's going forward.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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