Increase in Mineral Resource and Ore Reserves: South32 Ltd has witnessed a 42% increase in total estimated open cut Mineral Resource to 29 Mt with a 20% reduction in total estimated underground Mineral Resource at its Cannington silver-lead-zinc mine. Further, there has been a 24% rise in Measured Mineral Resources because of a reclassification, and this considered confidence in both geological and grade estimation continuity. S32 also reported a 9% increase in total estimated underground Ore Reserves with a 31% increase in Proved Ore Reserves, at the back of additional drilling and an updated resource model and mine plans. The group had earlier postednet profit of US$1.2 billion and revenue of US$6.95 billion, up 20%, for the year ending June 30, 2017, at the back of high operating leverage and stronger commodity prices. A key highlight of the group’s result was free cash flow more than tripling to US$1.9 billion. Accordingly, S32 could announce a fully franked final dividend of US$334 million, representing half of the miner’s underlying earnings in the second half. S32 had demonstrated a robust performance across its aluminium supply chain, including record production at Mozal Aluminium. Further, there was a cumulative saving of about US$700 million over two years driven by a US$360 million reduction in controllable costs.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.