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Mantengu Ltd.

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JSE:MTU

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Prices at least 15 minutes delayed. Source: JSE Ltd.

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Fri 30 May 2025, 17:41

Mantengu final results February 2025

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Revenue for the year multiplied to R317.5 million (R109.9 million) whilst gross profit shot up to R106.4 million (R52.6 million). Operating profit dipped to R4.0 million (R24.9 million) and profit for the year jumped to R303.3 million (R1.2 million). Furthermore, headline loss per share came in at 23cps (headline earnings per share of 1cps).

Company outlook
The Group expects to continue its journey towards operational efficiency and excellence while further ramping up production. Although we have achieved a lot in a short period of time, we feel that we can operate further down the cost curve. The completion of Langpan's second chrome processing plant will contribute significantly to increased chrome concentrate production. Commissioning is expected soon.

It is a top priority for the Board to implement a long-lasting renewable energy solution at our silicon carbide manufacturing operation. This will decrease the cost of energy and Sublime's reliance on Eskom. We expect that this will decrease our production costs per tonne by at least 25%.

The Group is busy refinancing expensive debt at much cheaper finance costs. This will significantly reduce finance costs. However, it should be noted that purchasing and financing our own mining machinery does contribute to higher finance costs but reduces operating expenditure by a larger number.

The Board also looks forward to operationalising both Blue Ridge Platinum (once it becomes unconditional) and its recently purchased Iron Beneficiation Plant later this calendar year. We will report to our shareholders and to the market as we near production.

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