| Harmony meets annual production guidance; creates further cash certainty | |
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18 July 2016
Johannesburg: Monday, 18 July 2016. Harmony Gold Mining Company Limited (Harmony and/or the Company) is pleased to announce that it has met its annual production guidance of approximately 1.1 million ounces. Year on year Harmony continued to differentiate itself through quality grade management, increasing underground grade by 6% to 5.02g/t - making it the fourth consecutive year of increased recovered underground grades.
To create further cash certainty, Harmony has entered into short term gold forward sale contracts for a total of 432 000 ounces over a period of 24 months, representing approximately 20% of the Company's total production. The sharp increase in and the volatility of the R/kg gold price provided Harmony with an opportunity to lock in 20% of its gold sales at a very attractive average rate of approximately R682 000/kg. The limited size and duration of the hedge means shareholders retain full upside exposure on 80% of Harmony's future gold production for the next two years, after which shareholders will have 100% exposure to the gold price.
'Our hard work has paid off and I am extremely pleased with Harmony's performance. Harmony is well positioned to benefit from a strong R/kg gold price. We remain positive on the strength of the gold price, with cash certainty being key in times of extreme gold price volatility. The gold hedge was a necessary short term step to secure our margins at some of our higher cost operations and creates certainty on a portion of our future cash flows. It enables us to further reduce our debt and strengthen our balance sheet,' said Peter Steenkamp, chief executive officer of Harmony.
Harmony will announce its operating and financial results for the six months and year ended 30 June 2016 on Wednesday 17 August 2016, during a live presentation at the Hilton Hotel, Sandton, at 9am SA time. For webcast and dial-in information on the day, please refer to www.harmony.co.za/investors.
For more details contact:
Henrika Ninham
Investor Relations Manager
+27 (0) 82 759 1775 (mobile)
Marian van der Walt
Executive: Corporate and Investor Relations
+27(0) 82 888 1242 (mobile)
Johannesburg, South Africa
18 July 2016
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
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Harmony Gold Mining Ltd
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PRODUCTEUR |
CODE : HMY |
ISIN : US4132163001 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Harmony Gold est une société de production minière d'or basée en Afrique Du Sud. Harmony Gold est en développement de projets d'or et d'argent en Afrique Du Sud et en Papouasie-Nouvelle-Guinee, et détient divers projets d'exploration en Afrique Du Sud. Ses principaux projets en production sont RANDFONTEIN UG, HARMONY 2, KALGOLD, TARGET, ELANDSKRAAL UG OPERATING SHAFT, TSHEPONG, EVANDER - 2, 3 & 5, ELANDSRAND, ELANDSKRAAL, JOEL MINE, WELKOM, EVANDER, EVANDER - MINE ON CARE, EVANDER PROJECTS BELOW INFRASTRUCTURE-EVANDER SOUTH, EVANDER STOCKPILE, BAMBANANI, PHAKISA, FREE GOLD WEST, ST HELENA, JOEL, FREE GOLD SHAFT CARE & MAINTENANCE, FREE GOLD STOCKPILE, RANDFONTEIN SURFACE STOCKPILE, ELANDSKRAAL - DEELKRAAL UG SHAFT ON CARE, ORKNEY UG OPERATING SHAFT, ORKNEY UG SHAFTS ON CARE, MERRIESPRUIT 1, MERRIESPRUIT 3, UNISEL, BRAND 3, MASIMONG, MINES ON CARE-FREE STATE, EVANDER 7, EVANDER 8, EVANDER PROJECT BELOW INFRASTRUCTURE ROLSPRUIT, EVANDER PROJECTS BELOW INFRASTRUCTURE POPLAR, EVANDER OPERATIONS, RANDFONTEIN OPERATIONS, PAMODZI (FREE STATE), DOORNKOP, EVANDER (BELOW INFRASTRUCTURE), NYALA et FREE GOLD en Afrique Du Sud, HAMATA et WAFI en Papouasie-Nouvelle-Guinee et SOUTH KAL MINES, UNION REEFS, BENDIGO et HIDDEN VALLEY en Australie, ses principaux projets en développement sont HIDDEN VALLEY & KAVEROI en Papouasie-Nouvelle-Guinee et BLOEMHOEK en Afrique Du Sud et ses principaux projets en exploration sont VIRGINIA OPERATIONS, PHOENIX, FREE STATE SURFACE et MIDDELVLEI en Afrique Du Sud et GOLPU et NAMBONGA en Papouasie-Nouvelle-Guinee. Harmony Gold est cotée au Royaume-Uni, aux Etats-Unis D'Amerique, en Allemagne et en France. Sa capitalisation boursière aujourd'hui est 3,8 milliards US$ (3,6 milliards €). La valeur de son action a atteint son plus haut niveau récent le 27 juillet 2012 à 9,99 US$, et son plus bas niveau récent le 20 novembre 2015 à 0,53 US$. Harmony Gold possède 439 960 000 actions en circulation. |