Tharisa Plc reported production results for the first quarter ended December 31, 2018. For the quarter, the company reported reef mined of 1,090.6 kt compared to 1,245.3 kt a year ago. Reef milled was 1,192.5 kt compared to 1,310.2 kt a year ago. PGM floatation feed was of 901.3 kt compared to 959.6 kt a year ago. PGM rougher feed grade was 1.59 g/t compared to 1.49 g/t a year ago. PGM recovery was 76.5% compared to 84.3% a year ago. 6E PGMs produced was 33.6 koz compared to 38.8 koz a year ago. Cr2O3 ROM grade was 18.5% compared to 18.1% a year ago. Chrome recovery was 58.9% compared to 6.55% a year ago. Chrome yield was 25.6% compared to 27.9% a year ago.

light of the first quarter performance, the company updates its fiscal year 2019 production guidance to output of between 150 koz and 160 koz of PGMs (6E basis) and 1.4 Mt to 1.5 Mt of chrome concentrates, of which 25% will be speciality grade chrome concentrates. The Tharisa team will continue to implement the Vision 2020 projects during fiscal year 2019, which will ensure that Tharisa delivers 200 koz of PGMs and 2.0 Mt of chrome concentrates in 2020 from the Tharisa Mine.