Northam Platinum Holdings Limited · JSE:NPH
Northam Platinum — FY2004 Earnings Presentation
17 slides from Northam Platinum's earnings presentation, Aug 5, 2004
Slide 1: Annual Results
Annual Results For the year ended 30 June 2004 Glyn Lewis, General Manager
Slide 2: Key features
Key features Metal sales up 27.9% to 11 733 kg (3PGE+Au) Sales revenue up 16.9% to R1 720 million Increase in total operating costs contained to 5.3% and unit cash costs to 2.7% Net income down 7.7% to R254 million Cash on hand increased to R502 million Final distribution of 80 cents per
Slide 3: Safety performance
Safety performance 10 3 9 7.99 8 2.06 7 2 6 5.28 1.51 4.82 5 1.28 1.21 4.02 1.14 4 0.96 1 3 2.50 2.10 2 1 0 0 F1999 F2000 F2001 F2002 F2003 F2004 F1999 F2000 F2001 F2002 F2003 F2004 LTIIR (per 200 000 man hours) RIIR (per 200 000 man hours) • Tragically, four employees died in underground accidents
Slide 4: Mine plan
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Slide 5: Operational overview
Operational overview Merensky development down 21.2% to 10 713 metres Merensky ore reserve declined to 15 months Total square metres mined up marginally to 436 205m2 Combined head grade improved to 5.5 g/t (3PGE+Au) Total tonnes milled up marginally to 2 232 587 tonnes Metals production
Slide 6: Metals production
Metals production F2004 F2003 Change Platinum (kg) 6 594 6 399 3.0% Palladium (kg) 3 200 3 123 2.5% Rhodium (kg) 573 618 (7.3%) Gold (kg) 225 214 5.1% Total 10 592 10 354 2.3%
Slide 7: Refined metal sales
Refined metal sales F2004 F2003 Change Platinum (kg) 7 365 5 571 32.2% Palladium (kg) 3 379 2 771 21.9% Rhodium (kg) 742 645 15.0% Gold (kg) 247 187 32.1% Total 11 733 9 174 27.9%
Slide 8: Basket prices (3PGE + Au)
Basket prices (3PGE + Au) US$/oz R/kg 1000 180 000 900 170 000 800 160 000 700 150 000 600 500 140 000 400 130 000 300 120 000 200 110 000 100 0 100 000 Jul- A S O N D Jan- F M A M J J A S O N D Jan- F M A M J 02 03 04 Platinum (US$/oz) Palladium (US$/oz) US$ Basket Price R/kg Basket Price
Slide 9: Metal prices realised (R/kg)
Metal prices realised (R/kg) F2004 F2003 Change Platinum 171 534 175 249 (2.1%) Palladium 47 123 79 415 (40.7%) Rhodium 123 701 183 221 (32.5%) Gold 85 895 97 172 (11.6%) Basket (3PGE+Au) 130 874 145 273 (9.9%)
Slide 10: Sales revenue (R000s)
Sales revenue (R000s) F2004 F2003 Change Platinum 1 263 358 976 290 29.4% Palladium 159 243 220 049 (27.6%) Rhodium 91 759 118 222 (22.4%) Gold 21 239 18 160 17.0% Other 184 800 139 278 32.7% Total 1 720 399 1 471 999 16.9%
Slide 11: Unit operating costs
Unit operating costs F2004 F2003 Change Operating costs (R/kg) 109 052 105 600 3.3% Operating costs (R/t milled) 517 492 5.1% Cash costs (R/kg) 99 532 96 880 2.7% Cash costs (R/t milled) 472 452 4.4%
Slide 12: Capital expenditure
Capital expenditure R million Accelerated development 37.8 Access infrastructure to 1 level and 14 level 19.9 Development through 20 line fissure (7 and 8 level) 2.6 Shafts and skips upgrade 11.9 Refrigeration 15.4 Backfill reticulation 8.4 Routine 26.9 Total 122.9
Slide 13: Capex forecast F2005
Capex forecast F2005 R million Accelerated development 33.2 Access infrastructure to 1 level and 14 level 33.1 Development through 20 line fissure (7 and 8 level) 11.3 Furnace slag treatment facility 12.0 Metallurgical plants 7.4 Backfill reticulation 12.0 Routine 27.1 Total 136.1
Slide 14: Operating cash flow
Operating cash flow R million 1000 900 800 700 600 449 H2 500 532 H1 400 251 82 300 293 352 308 262 200 215 100 130 0 F2000 F2001 F2002 F2003 F2004
Slide 15: Cash distributions
Cash distributions Cents per share 300 250 200 135 175 H2 150 35 H1 100 110 100 100 80 70 50 45 20 0 F2000 F2001 F2002 F2003 F2004
Slide 16: Outlook
Outlook Production - development - ground conditions - optimize hoisting capacity Focus on unit costs Earnings dependent on Rand basket price of metals Expansion - conclude Booysendal transaction
Slide 17: Annual Results
Annual Results For the year ended 30 June 2004 Thank you Glyn Lewis, General Manager
Northam Platinum Holdings — FY2004 Earnings Presentation on 6ix