mining company managem earnings release suggests mining ‘supercycle is brewing’
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Mining Company Managem Earnings Release Suggests Mining ‘Supercycle is Brewing’

Arab Today, arab today

Arab Today, arab today Mining Company Managem Earnings Release Suggests Mining ‘Supercycle is Brewing’

Imad Toumi
Casablanca - Arab Today

Net Income Group Share (NIGS) soared by 41% to MAD289m (vs. MAD 52m in H1-2016) thanks to great operational performance, as well as the rebound of metals prices.

The positive evolution of both base and precious metals’ prices over the second-half of 2016 counterbalanced the first semester’s weakness. Also, the jump in production volumes in H2-2016 contributed to 2016’s positive results. In point of fact, Silver’s, Zinc’s and Cobalt’s volumes rose by 32%, 8% and 4% respectively.

At the top-line level, consolidated revenue mildly increased by 1% to MAD 4,377m as a result of a better operational performance with Copper and Silver production volumes rising by 19% and 7% respectively; which counterbalanced the adverse impact from lover gold production at the Bakoudou site.

Thanks to lower cash-costs (down by around 10%), EBITDA jumped by 5% to MAD 1,488m which corresponds to an EBITDA margin around 34% (up by 1.2pts YoY).

In 2016, the company pursued their exploration programs in order to increase resource and reserves and ultimately extend mine life. Main discoveries concerned Silver (653 tons), Copper (4.5 million tons), Cobalt (3,624 tons) and polymetallic (1.9 million tons).

The company made also considerable progress regarding projects they were prospecting by signing a partnership agreement with Avocet for the development of the Tri-k gold project in Guinea, but also by outlining copper resources in the Tizert project in Morocco, and finally by resuming prospecting in the Democratic Republic of Congo.

For the Shareholders’ Meeting, the Board of Directors will propose the distribution of a dividend of MAD 21 per share (stable YoY).

The board of directors will propose at the extraordinary shareholders’ meeting to increase the share capital by a maximum amount of MAD 1b in cash. This capital increase is offered exclusively to the group’s employees.

Managem’s subsidiary Société Métallurgique d’Imiter also reported a jump in Net Income by 25% thanks to the rebound in silver prices (+11%) as well as higher production in H2-2016 (+32%). Particularly, silver production increased by 7% to 221 tons.

Source :Morocco World News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

mining company managem earnings release suggests mining ‘supercycle is brewing’ mining company managem earnings release suggests mining ‘supercycle is brewing’

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

mining company managem earnings release suggests mining ‘supercycle is brewing’ mining company managem earnings release suggests mining ‘supercycle is brewing’

 



GMT 08:23 2017 Monday ,03 April

Tesla tops quarterly sales forecast

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal

GMT 05:28 2017 Sunday ,26 November

Gas exporters call for 'fair price'

GMT 10:51 2018 Tuesday ,11 December

Cloudy weather with rain showers forecast Tuesday

GMT 20:00 2017 Monday ,25 September

Tourism minister leaves for France to attend Top Resa

GMT 22:07 2017 Tuesday ,02 May

UAE soldier martyred in Yemen

GMT 00:25 2017 Sunday ,10 September

Philippines Sees the Bloodiest

GMT 20:21 2017 Wednesday ,08 November

Ambassador Aizaz Chaudhry met members of Congress in US

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:16 2017 Monday ,25 December

Sharjah Ruler issues Emiri Decree on SGMB functions

GMT 13:16 2017 Sunday ,15 October

Qatari sheikh says assets frozen over Gulf crisis

GMT 12:50 2017 Saturday ,11 November

ICC prosecutor calls for Afghanistan war crimes probe

GMT 13:28 2012 Friday ,17 February

NYT\'s Anthony Shadid dies in Syria

GMT 16:44 2017 Friday ,01 September

Al-Bashir to partake in OIC Summit in Kazakhstan
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday