Wesizwe (WEZ) is a miner of platinum group metals (PGMs) through its development of the Bakubung Platinum Mine (BPM). The company is working on a project to access the Merensky and Upper Group 2 (UG2) resources. The mine is located near Rustenburg on the Western limb of the Bushveld Complex. Wesizwe also holds a 17.1% stake in projects 1 and 3 of Maseve Investments.
In its results for the year ending 31st December 2023, the company reported a headline loss per share of 1.36c, an improvement compared to a loss of 8.24c in the previous year. The company noted, "The Group’s cash resources at the reporting date of R227.9 million (2022: R342.6 million) are not sufficient, based on current budgets, to conduct operations and complete the development of the BPM Project. The Group’s current liabilities, including shareholder’s loans of R3 017.4 million (2022: R5 634.3 million), exceed current assets by R3.5 billion (2022: R5.6 billion)."
In an operational update on 9th September 2024, Wesizwe stated, "During the hot commissioning of the concentrator plant, certain defects were identified in the plant which required rectification." Additionally, Section 189 consultations relating to a possible restructuring of the Bakubung Platinum Mine were underway. The company anticipates that underground mining will ramp up to approximately 83ktpm by Q4 2025.
In a trading statement for the six months ending 30th June 2024, the company estimated headline earnings per share (HEPS) to be between 1.4c and 13.32c, compared with a loss of 59.63c in the previous period. This increase was mainly attributed to unrealised foreign exchange gains on foreign-denominated loans.
Wesizwe's shares trade about R150,000 worth on average daily, making it a viable option for small private investors. However, it is a marginal precious metals company and is heavily dependent on the volatility of PGM prices, which makes it a risky investment. The share price has dropped significantly, from a high of 197c in October 2021 to around 55c following recent results. Given the risks involved, there may be better options available in the PGM market for investors.
In its results for the year ending 31st December 2023, the company reported a headline loss per share of 1.36c, an improvement compared to a loss of 8.24c in the previous year. The company noted, "The Group’s cash resources at the reporting date of R227.9 million (2022: R342.6 million) are not sufficient, based on current budgets, to conduct operations and complete the development of the BPM Project. The Group’s current liabilities, including shareholder’s loans of R3 017.4 million (2022: R5 634.3 million), exceed current assets by R3.5 billion (2022: R5.6 billion)."
In an operational update on 9th September 2024, Wesizwe stated, "During the hot commissioning of the concentrator plant, certain defects were identified in the plant which required rectification." Additionally, Section 189 consultations relating to a possible restructuring of the Bakubung Platinum Mine were underway. The company anticipates that underground mining will ramp up to approximately 83ktpm by Q4 2025.
In a trading statement for the six months ending 30th June 2024, the company estimated headline earnings per share (HEPS) to be between 1.4c and 13.32c, compared with a loss of 59.63c in the previous period. This increase was mainly attributed to unrealised foreign exchange gains on foreign-denominated loans.
Wesizwe's shares trade about R150,000 worth on average daily, making it a viable option for small private investors. However, it is a marginal precious metals company and is heavily dependent on the volatility of PGM prices, which makes it a risky investment. The share price has dropped significantly, from a high of 197c in October 2021 to around 55c following recent results. Given the risks involved, there may be better options available in the PGM market for investors.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.