This is the company's 13th consecutive year of distribution. The company has also declared interim dividends of 50 SA cents per share for the year ended
Of
'Amidst the fear, uncertainty and challenges since March, investors globally have turned to gold and gold stocks. This has handsomely reflected in our revenue and margin for the year. Free cashflow was R926.4 million and our market capitalisation mushroomed from R3 billion to more than R23 billion.'
Pretorius attributes
The Group's total gold production increased by 9% to 5,424kg, reflecting an 8% increase in total throughput and a 5% increase in average yield as Far West Gold Recoveries (FWGR) achieved stable production and made its first full 12-month contribution.
Group revenue increased by 52% to R4,185.0 million due to higher gold production and gold sold, together with an extraordinary 33% rise in the average Rand gold price received to R768,675/kg.
Group cash operating costs were 8% higher at R2,626.0 million, due mainly to the inclusion of the cash operating costs of FWGR for the full financial year, and also reflective of the total volume throughput increasing by 8%.
Headline earnings of R634.5 million (82.4 SA cents per share) were reported compared with headline earnings of R72.7 million (10.9 SA cents per share) in the comparative period.
Looking forward
In FY2021, Pretorius says
Pretorius adds: 'Good progress has been made in advancing Phase 2 of FWGR and we are well into the planning and permit application processes. In terms of other growth prospects, the business seeks to play a bigger role in the
For the 2021 financial year, Group production of between 165,000 and 185,000 ounces at a cash operating cost of approximately R535,000/kg is planned.
Contact:
Tel: +27 (0) 11 880 3924
Email: james@rasc.co.za
Forward-looking Statements
Many factors could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, adverse changes or uncertainties in general economic conditions in the markets we serve, a drop in the gold price, a sustained strengthening of the Rand against the Dollar, regulatory developments adverse to
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