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Impala Platinum Holdings Ltd (IMPJ.J)

IMPJ.J on Johannesburg Stock Exchange

3,272.00ZAc
20 Oct 2017
Change (% chg)

92.00 (+2.89%)
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Latest Key Developments (Source: Significant Developments)

Impala Platinum ‍enters agreements with PTM and JOGMEC​
Monday, 16 Oct 2017 09:00am EDT 

Oct 16 (Reuters) - Impala Platinum Holdings Ltd ::IMPALA PLATINUM - ‍ENTERED DEFINITIVE AGREEMENTS WITH PLATINUM GROUP METALS, JAPAN OIL, GAS AND METALS NATIONAL CORPORATION, MNOMBO WETHU CONSULTANTS​.IMPALA PLATINUM HOLDINGS LTD - ‍WILL PAY US$30 MILLION IN CASH TO ACQUIRE A 15% SHAREHOLDING IN PROJECT FROM PTM AND JOGMEC​.IMPALA PLATINUM - DEAL ‍TO ACQUIRE MINORITY INTEREST IN WATERBERG, WITH OPTION TO ACQUIRE MAJORITY OWNERSHIP OF PROJECT.  Full Article

Impala Platinum to implement employee consultative process at Impala Rustenburg operation
Monday, 18 Sep 2017 09:00am EDT 

Sept 18 (Reuters) - Impala Platinum Holdings Ltd ::HAS ISSUED A NOTICE TO RELEVANT EMPLOYEE REPRESENTATIVE GROUPS, GOVERNMENT AUTHORITIES AND OTHER STAKEHOLDERS AT ITS IMPALA RUSTENBURG.CONSULTATION PROCESS IS SPECIFICALLY AIMED AT ENSURING SUSTAINABILITY OF IMPALA OPERATIONS, WHICH EMPLOY SOME 31 000 PEOPLE.NOTICE ‍INDICATING IT INITIATED A SECTION 189 CONSULTATION PROCESS THAT MAY LEAD TO STAFF REDUCTIONS​.EXPERIENCING SEVERE FINANCIAL PRESSURES AT IMPALA, LARGELY AS A RESULT OF PERSISTENTLY LOW METAL (RAND) PRICES AND CONTINUED PRODUCTION COST INCREASES.EXPECTED THAT SOME 2 500 PEOPLE COULD BE AFFECTED NEAR TERM.  Full Article

Impala Platinum reports headline loss of 137c/shr
Thursday, 14 Sep 2017 01:20am EDT 

Sept 14 (Reuters) - Impala Platinum Holdings Ltd ::FY ‍GROSS REFINED PLATINUM PRODUCTION INCREASED BY 6.4 PCT TO 1.53 MILLION OUNCES​.‍FY BASIC HEADLINE LOSS OF 137 CENTS PER SHARE​.FY EARNINGS IMPACTED BY IMPAIRMENT OF R10.2 BILLION.‍FY HEADLINE LOSS PER SHARE 137 CENTS VERSUS EARNINGS OF 12​ CENTS A YEAR AGO.FY REVENUE ROSE TO R36.8 BILLION FROM R35.9 BILLION.FY GROUP MINE-TO-MARKET OUTPUT WAS 1.28 (2016: 1.25) MILLION PLATINUM OUNCES.IMPALA PLATINUM HOLDINGS - FY CASH GENERATED FROM OPERATIONS REDUCED TO R1.0 (2016: R2.7) BILLION MAINLY AS A RESULT OF OPERATING CHALLENGES AT IMPALA RUSTENBURG.IMPALA PLATINUM - ‍"CURRENT VIEW OF ESTIMATED VALUE OF ROYALTY PAYMENTS CHANGED MATERIALLY SINCE 2007 GIVEN LOW METAL PRICES AND DEPRESSED LEVELS OF PRODUCTION"​.IMPALA PLATINUM - ‍DECISION WAS TAKEN BY MANAGEMENT TO IMPAIR FULL AMOUNT OF R10.2 BILLION, WHICH AFTER DEFERRED TAX AMOUNTS TO R7.3 BILLION​.EXPECTS A SLIGHT DECLINE IN USE OF PLATINUM IN AUTOMOTIVE INDUSTRY IN 2017.IMPALA PLATINUM - ‍IF MARULA DOES NOT MEET OBJECTIVE OF BEING CASH NEUTRAL AT GROUP LEVEL, THERE WILL BE NO OTHER OPTION BUT TO SUSPEND OPERATIONS​.IMPALA PLATINUM - ‍PLATINUM AND PALLADIUM MARKETS EXPECTED TO REMAIN IN A FUNDAMENTAL DEFICIT IN 2017, WHILE RHODIUM IS EXPECTED TO REMAIN IN A SMALL SURPLUS​.IMPALA PLATINUM - SLOWER BUILD-UP AT 16 AND 20 SHAFTS, LOWER PRODUCTION AND EARLIER CLOSURE OF END-OF-LIFE SHAFTS WILL IMPACT ON PRODUCTION PROFILE OVER NEXT 5 YEARS.  Full Article

Impala Platinum sees FY basic EPS to be loss of between 1 030 and 1 235 cents
Tuesday, 22 Aug 2017 02:00am EDT 

Aug 22 (Reuters) - IMPALA PLATINUM HOLDINGS LTD ::FY BASIC EARNINGS PER SHARE (EPS) IS EXPECTED TO BE A LOSS OF BETWEEN 1 030 AND 1 235 CENTS PER SHARE.  Full Article

Implats guides on voting at its general meeting
Tuesday, 18 Jul 2017 08:19am EDT 

July 18 (Reuters) - Impala Platinum Holdings Ltd :Allan Gray will not be treated as a "material shareholder" of Implats and therefore will not be regarded a "related party" in terms of JSE listings requirements.Allan Gray clients or entities will be entitled to vote on resolution, whether in person or by proxy.  Full Article

Transition Metals, Impala Platinum sign a definitive option agreement with North American Palladium
Wednesday, 21 Jun 2017 09:10am EDT 

June 21 (Reuters) - Impala Platinum Holdings Ltd :Transition metals corp and impala platinum sign a definitive option agreement with north american palladium on the sunday lake pt-pd project.Transition metals corp - under terms of agreement, north american palladium has right to acquire a 75% ownership in sunday lake project.Transition metals corp - to acquire ownership by completing work commitments totaling $4.5 million and making cash payments of $3.5 million over a 5 year period.  Full Article

North American Palladium signs option agreement for sunday lake project
Tuesday, 20 Jun 2017 04:10pm EDT 

June 20 (Reuters) - North American Palladium Ltd :North American Palladium signs option agreement for the sunday lake project and commences new exploration strategy.North American Palladium Ltd - signing of a definitive option agreement with Impala Platinum Holdings Limited and Transition Metals Corp.North American Palladium -agreement provides co with exclusive right to acquire 75% ownership position in Sunday Lake project located near thunder bay.North American Palladium Ltd - ‍commenced implementation of a new exploration strategy, as part of its overall business plan​.North American Palladium Ltd - ‍new exploration strategy features up to $10 million of annual exploration spending over next three years​.North American Palladium -deal for cumulative cash payment of $3.5 million, completing minimum $4.5 million in qualified expenditures over 5-year staged earn-in period.  Full Article

Implats announces results of offer to sell 2018 convertible bonds
Thursday, 1 Jun 2017 04:00am EDT 

June 1 (Reuters) - Impala Platinum Holdings Ltd ::‍Implats announces results of invitation to holders to offer to sell 2018 convertible bonds​.Purchase price per U.S.$200,000 principal amount of 2018 U.S.$ convertible bonds offered and accepted for purchase was U.S.$200,000.Purchase price per zar10,000 minimum denomination of 2018 zar convertible bonds offered and accepted for purchase was zar10,000.$170 million of 2018 U.S.$ convertible bonds and zar2,429 million of 2018 zar convertible bonds have been validly tendered​​.Settlement of invitation is expected to occur on or around 6 June 2017‍.  Full Article

Impala keeps FY production guidance; warns of job losses at Marula mine
Wednesday, 26 Apr 2017 01:05am EDT 

April 26 (Reuters) - Impala Platinum Holdings Ltd :Ongoing community disruptions, low metal prices have resulted in further restructuring process at marula that could result in large scale job losses at this operation.Gross refined platinum production for quarter ended 31 march 2017 fell 6.2 percent to 331000 platinum ounces.Decline in production during quarter under review largely as a result of Zimplats material that was released from processing inventory during quarter-ended march 31, 2016.Community disruptions were experienced at marula and two rivers during current quarter, which affected production.Over nine-month period ended march 31, 2017, gross refined platinum production rose 6.2% to 1.11 million platinum ounces.Increase in 9m production due to higher impala refining services production, driven by higher third-party receipts in period under review.FY production guidance maintained at 1.50 million refined platinum ounces and unit cost expected to be about r22600 per platinum ounce.  Full Article

Implats secures jury verdict for constructive fraudulent transfer
Tuesday, 4 Apr 2017 09:30am EDT 

Impala Platinum Holdings Ltd : Implats secures jury verdict for constructive fraudulent transfer . An U.S. Jury rendered a favourable verdict of $16 million on a claim of constructive fraudulent transfer during insolvency . Case part of effort to collect on confirmed arbitration award of more than $200 million against A-1 Specialized Services And Equipment Co Inc . Defendants in case included four shareholders of A-1, three of whom settled with impala during trial, prior to verdict Further company coverage: [IMPJ.J] (Bengaluru Newsroom: +91 806 749 1136).  Full Article

BRIEF-Impala Platinum makes investment to advance development of Waterberg PGE project

* Impala Platinum makes strategic investment to advance development of the Waterberg PGE project