News

Merafe Resources Reports 17% Decrease in Ferrochrome Production for H1 2024

Business News, Capital Markets, Finance News, Investing News, Stock Market /
  • Production Decline: Merafe’s ferrochrome production dropped 17% to 154kt due to the Rustenburg smelter’s shutdown.
  • Earnings Forecast: Expected EPS and HEPS will fall between 24.6 and 33.0 cents and 24.0 and 32.4 cents, respectively.
  • Cash Balances: Cash and cash equivalents increased slightly to R1,717 million, with R344 million allocated for future environmental obligations.

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Glencore PLC: Half-Year Production Report 2024

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  • Account Benefits: Compare unique benefits offered by FNB Easy Zero and Absa Transact Debit 2024.
  • Fee Structures: Examine and contrast the fee structures of both accounts, including monthly and transaction fees.
  • Customer Experience: Evaluate user experiences with digital platforms and customer service for each bank account.

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BHP and Lundin Mining to Acquire Filo Corp. and Form Joint Venture

Business News, Capital Markets, Finance News, Investing News, Stock Market /
  • BHP and Lundin Mining are acquiring Filo Corp. in a $4.1 billion deal, with BHP paying $2.1 billion in cash.
  • They will form a 50/50 joint venture to develop the Filo del Sol and Josemaria projects.
  • The transaction includes a premium of 32.2% over Filo Corp.’s 30-day average share price.

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Netcare Limited Announces Leadership Changes

Business News, Capital Markets, Investing News /
  • Mark Bower to Retire: Mark Bower will retire as Chairperson and from key committees on 30 September 2024.
  • New Appointments: Alex Maditse appointed as lead independent director; Ian Kirk joins the Audit Committee effective 30 September 2024.
  • Financial Performance: Netcare reported a 4.2% revenue increase and a 4.1% rise in net profit for FY2023.

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Efora Energy Issues Trading Statement: Predicts Significant Loss for FY 2024

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  • Financial Projections: Efora Energy expects a headline loss per share between 1.67 cents and 1.77 cents.
  • Compliance: Efora issued the trading statement under JSE rules, highlighting a significant financial decline.
  • Publication Date: The audited results for the year ended February 29, 2024, will be published on July 29, 2024.

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Sibanye-Stillwater Updates on Cybersecurity Attack Impact

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  • Cybersecurity Attack Impact: Sibanye-Stillwater faced a global IT systems attack, leading to temporary system outages and manual backups.
  • Operational Continuity: Despite the attack, core operations continued with minimal disruption, and the Columbus complex faced short-term delays.
  • Financial Reporting Delay: The cyberattack delayed the H1 2024 financial results announcement to September 12, 2024.

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Cashbuild Q4 FY 2024: 4% Revenue Growth, 13% Increase in Quarterly Sales

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  • Revenue Growth: Cashbuild reported a 4% revenue increase in Q4 FY 2024 compared to the previous year.
  • Quarterly Sales Surge: The group saw a 13% increase in revenue during the 14-week fourth quarter.
  • Store Expansion: Cashbuild opened 3 new stores and refurbished 16 locations in the fourth quarter.

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