Sharenet Sites 
Sharenet Sites
Production outlook
Tharisa plc
(Incorporated in the Republic of Cyprus with limited liability)
(Registration number: HE223412)
JSE share code: THA
ISIN: CY0103562118
(“Tharisa”)
PRODUCTION OUTLOOK – FINANCIAL YEAR ENDING 30 SEPTEMBER 2014
In the Reviewed Condensed Consolidated Interim Financial Statements for the six months
ended 31 March 2014, Tharisa provided a production outlook for the current financial year
ending 30 September 2014, of between 80 koz and 90 koz of PGMs (5PGE + Au) and
between 1.15 Mt and 1.3 Mt of chrome concentrates. It is now expected that production
will be marginally below these levels and that the current production outlook for the
financial year ending 30 September 2014 is that PGM production will be within 3.5% of the
lower parameter of 80 koz and chrome concentrate production will be within 6.5% of the
lower parameter of 1.15 Mt. Tharisa remains on track to achieve steady state annualised
production during the 2016 financial year.
The production outlook was premised on Tharisa achieving the required mining output and
the successful commissioning of certain optimisation initiatives, namely the high energy
flotation for enhanced recoveries of PGMs and the installation of an initial two production
scale magnetic separation units for improved chrome concentrate yields. A number of
factors have adversely impacted on the consistency, quality and quantity of the feed
grade into the plants principally the mining fleet availability necessary to achieve the
increased waste and reef extraction volumes. Tharisa is in the process of appointing an
additional contractor with a new mining fleet and the expertise to mine the more
specialised reef and inter-burden waste and is confident that this will achieve the
required run of mine volumes in the correct blend going forward.
The high energy flotation project was successfully commissioned on 25 July 2014, at the
Voyager Plant, and PGM recoveries have subsequently increased from approximately 55%
to approximately 65%. However, to date the magnetic separation commercial scale
production units have not been able to replicate the laboratory unit test results on a
sustained basis and therefore the expected increase in chrome recovery was not achieved.
Tharisa continues to work with the OEM supplier to determine the optimal process flow
and design to achieve the required chrome concentrate recovery.
The financial results for the financial year ended 30 September 2014 will be published by
mid-December 2014.
29 September 2014
Sponsor
Investec Bank Limited
Date: 29/09/2014 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
