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Mvela Res sees earnings soar

Sep 17 2009 08:40

Mvela Res in acquisition talks

Sexwale interests investigated

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Greek euro worries pressures rand

May 25 2012 19:13

Uncertainty over the future of the euro zone returned to push the rand down against the dollar.

Gauteng road project costs rocket

May 25 2012 13:58

The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.

JSE halts 'incorrect' trade

May 25 2012 11:36

The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.

Johannesburg - Broad-based black empowerment mining group Mvelaphanda Resources on Thursday reported a massive leap in headline earnings per share from 93 cents to 1.633 cents for the year ended June.

The group's net profit for the 12 month period catapulted from R185.3m to R1.26bn.

"From a corporate perspective, FY2009 was both a rewarding and yet, at times, a challenging year. Rewarding - because FY2009 saw the successful culmination of the Gold Fields Transaction and the conclusion of the Booysendal Transaction, which transformed Northam into a leading, independent PGM producer with meaningful growth potential."

"Challenging - because the same economic headwinds which have bedevilled companies globally, required significant strategic flexibility and adaptability from Mvela Resources," the group commented.

- I-Net Bridge

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