Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (48364)	2/23/1999 2:27:00 AM
From: Peter Singleton	Read Replies (1) \| Respond to of 132070

Michael, <Peter, I never got to know Happy Girl. She showed up when I was out one weekend.> Sorry to be so cryptic in my original post. I wasn't talking about your dating life ... <bg> Peter

To: Knighty Tin who wrote (48364)	2/23/1999 3:31:00 PM
From: yard_man	Read Replies (1) \| Respond to of 132070

Just poking around and found this: That's a nice dividend, eh? Edit: Ooops, maybe that's in SAfr cents ... implats.co.za IMPLATS TEAM SOARING HIGH - ATTRIBUTABLE INCOME UP 136% - Attributable income 2¼ times higher Productivity gains of 5% Bafokeng litigation settled Dividend increased by nearly 3 times to 170 cps Impala Platinum Holdings Limited ("Implats") delivered an exceptionally strong performance for the six months ended 31 December 1998 with attributable income rising to R450,9 million, a 136% increase on the R190,8 million reported in the first half of the previous financial year. Productivity increased by 5% from 40 to 42m2 per stoping employee per month. The total Impala workforce has reduced by 1 213 from the 30 500 of the corresponding period last year. Sales revenues increased by 21%. A 16,5% drop in the dollar price of platinum was compensated by a 57% increase in the palladium price and a 26% depreciation in the average R/US$ exchange rate achieved. The increase in cost of sales was contained to 1,3% with the rise in cash operating costs per ounce of platinum limited to 2,5%. Steve Kearney, Implats' chief executive officer, said that the 27% shareholding in Lonrho Platinum Division contributed favourably to these results. For the six months under review the group equity accounted R78 million and received a dividend of R42,2 million. In a joint announcement, the Royal Bafokeng Nation and Implats announced last week the resolution of the dispute between the Bafokeng and Impala Platinum Limited ("Impala") over mining rights and royalties. Both said they were very happy about the outcome. Despite the long running nature of the dispute the agreement was reached in a spirit of goodwill and co-operation recognising the compromises necessary to meet the key objectives of both sides. The agreement secures mineral rights for Impala for 40 years. The settlement results in an increase in the net royalty to approximately 18,03% after tax, the issue of one million new Implats shares (worth approximately R99 million in today's market), a member of the Bafokeng being invited to join the Implats Board and the court case being withdrawn. Kearney welcomed the recognition of the Bafokeng as important stakeholders, not only in the existing mine at Impala, but also at the Implats level, enabling them to benefit also from the mining, smelting and refining opportunities which Implats is investigating. During the period under review, Impala Refining Services Limited (IRS) was established to facilitate a growing third party recycling and refining business. Impala has contracted with IRS to treat pgm and base metal containing feeds through the smelter and refineries for customers from 5 continents. IRS earnings before interest and tax amounted to R46,5 million. Capital expenditure was slightly higher at R141 million as compared to last year's R135 million with the bulk of expenditure on mining decline projects. Capital expenditure for the second half of the financial year is expected to increase to R260 million as the recently approved 11 shaft decline gets underway. The group's cash position net of short-term debt stood at R1 076 million at the close of the period under review. An interim dividend of 170 cents per share has been declared based on the improved results. Date : 18 February 1999 Issued by : Alan Snashall Impala Platinum Holdings Limited 3rd Floor, Old Trafford 4 Isle of Houghton, Boundary Road Houghton 2198 Johannesburg 2001 PO Box 61386 Marshalltown 2107 South Africa