Northam Platinum Holdings Limited · JSE:NPH
Northam Platinum — FY2002 Earnings Presentation
16 slides from Northam Platinum's earnings presentation, Aug 8, 2002
Slide 1: Annual Results for the year ended 30 June 2002
NORTHAM Annual . PLATINUM LIMITED Results for the year ended 30 June ‘02 lan Watson |{ Managing Director
Slide 2: Highlights
Highlights • Improved safety performance continues • Metal sales up 7.7% to 287 546 oz (3PGE+Au) • Revenue sustained despite 7.2% drop in basket price • Cash on hand up 34 % to R731 million • Final dividend of 175 cents per share (Total dividend of 245 cps for the year) • Available Merensky reserves
Slide 3: Safety
Safety 39.3 40 0.5 0.41 35 0.4 0.36 30 26.3 23.2 25 0.3 0.26 20.1 20 15 0.2 10 0.1 0.05 5 0 0 F1999 F2000 F2001 F2002 F1999 F2000 F2001 F2002 LTIFR – per million man-hours FIFR – per million man-hours Sep 2001 – 1 million fatality free shifts Apr 2002 – 1 million fatality free shifts
Slide 4: Operational overview
Operational overview Despite loss of 32 production days: • Metal sales up 7.7% • m2 mined virtually unchanged at 381 394 m2 • Tons milled exceed 1.9 Mt • Head grade down from 5.4 g/t to 5.3g/t • 3% drop in metals produced to 8 458 kg
Slide 5: Development metres vs mineable face length
Development metres vs mineable face length metres 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 Jul-01 Aug Sep Oct Nov Dec Jan-02 Feb Mar Apr May Jun Development metres Mineable Merensky face length Planned face length Average development metres
Slide 6: Operating costs
Operating costs 2002 2001 % change Operating cost ($/oz) 325 383 (15.4) Operating cost (R/kg) 105 426 93 848 12.3 Operating cost (R/t mined) 396 340 16.5 Cash costs ($/oz) 292 342 (14.6) Cash costs (R/kg) 94 861 83 750 13.3 Cash costs (R/t mined) 352 308 14.3
Slide 7: Capital expenditure F2002
Capital expenditure F2002 R million Accelerated development 31.6 Routine capex 55.0 Total 86.6
Slide 8: Refined metal sales (oz)
Refined metal sales (oz) 2002 2001 Platinum 177 580 168 294 Palladium 86 759 79 558 Rhodium 17 325 13 295 Gold 5 883 5 895 Total 287 547 267 042
Slide 9: Metal prices realised (R/kg)
Metal prices realised (R/kg) 2002 2001 % change Platinum 159 696 144 492 10.5 Palladium 130 256 189 351 (31.2) Rhodium 339 741 478 195 (28.9) Gold 96 450 65 800 46.6 Basket 160 367 172 733 (7.2)
Slide 10: Sales revenue (R million)
Sales revenue (R million) 2002 2001 % change Platinum 882.1 756.4 16.6 Palladium 351.5 468.6 (25.0) Rhodium 183.1 197.7 (7.4) Gold 17.6 12.1 45.5 Other 126.4 133.1 (5.0) Total 1560.7 1 567.9 (0.5)
Slide 11: Sales revenue
Sales revenue R(bn) 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 F1997 F1998 F1999 F2000 F2001 F2002
Slide 12: Operating cash flow
Operating cash flow R000 900 800 700 600 500 400 300 200 100 0 -100 F1997 F1998 F1999 F2000 F2001 F2002
Slide 13: Cash on hand
Cash on hand R000 800 700 600 500 400 300 200 100 0 F1997 F1998 F1999 F2000 F2001 F2002
Slide 14: Dividends (cps)
Dividends (cps) 250 200 150 100 50 0 -50 1998 1999 2000 2001 2002 DPS
Slide 15: Operational focus – F2003
Operational focus – F2003 • Maintain high development rates • Create further Merensky ore reserves / face availability • Increase metals output • Productivity improvements • Growth - Pandora
Slide 16: Annual Results for the year ended 30 June 2002
NORTHAM Annual . PLATINUM LIMITED Results for the year ended 30 June ‘02 lan Watson |{ Managing Director