Bauba Platinum Limited Announces Unaudited Consolidated Earnings Results for the Six Months Ended December 31, 2017; Provides Production Guidance for the First Half of the 2019 and Full Year of 2018
For the first of the 2019, the company expects planned stable monthly underground LG6 chrome ore production of 30,000 t is still expected to be achieved by the first half of the 2019 financial year.
For the full year 2018, the company expected underground production of 25,000 t is now forecast for the 2018 financial year. This is down from previously guided production due to additional safety measures implemented when installing the underground declines, which are now established. A contract to build a spiral wash plant and crushing circuit (plant) to upgrade Moeijelijk's current ROM saleable product to foundry, chemical and metallurgical grade concentrates has been concluded and work has commenced. This plant will be commissioned by July 2018 and will enhance Bauba's profit margins and diversify its revenue stream into less volatile, premium speciality grade products.