All data is delayed
See More

Mine Waste Solutions doubles interim loss

Dec 29 2011 11:53
I-Net Bridge
Johannesburg - Mine Waste Solutions (MWS), which is owned by First Uranium Corporation [JSE:FUM], on Thursday reported that its interim loss had doubled.

The company posted a basic and diluted loss of R11.80 a share for the six months to end-September, compared to a basic and diluted loss of R5.64 in the same six months of last year.

MWS is a gold and uranium tailings recovery operation in the western portion of the Witwatersrand Basin.

While the company recorded improved revenue of R419.5m against last year's R270.2m, earnings were hit by a R738m derivative expense related to its Gold Steam Transaction.

An operating loss of R555.4m was reported, compared to R232.3m a year ago.

First Uranium recently announced that it was restructuring its business to focus on gold production.

It said a new operating plan could result in the cutting of almost half its workforce at its Ezulwini operations.

But the company said its MWS operation would not be impacted by the changes.


Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Do you use all your downloaded apps on your smartphone?

Previous results · Suggest a vote