The Daily Update: 17 July

The latest updates from the JSE and NYSE for the past 24 hours.

South Africa

Anglo American Platinum Limited- Trading statement

• EPS for the period are also expected to decrease by 65% to 75% compared to H1 2022.
• Earnings decreased primarily due to a decline in revenue caused by lower average PGM basket prices compared to the corresponding period in 2022.
• Rhodium and palladium prices dropped by 47% and 29% respectively, contributing to the decrease in revenue.
• The weakening ZAR/US$ exchange rate partially offset the impact of the US$ price decline, resulting in a 15% decrease in the overall rand basket price.
• Sales volumes from own production (excluding trading) were 12% lower compared to H1 2022 due to various factors such as smelter rebuild, maintenance work, and load-curtailment.
• Inflationary pressure and exchange rate volatility led to higher mining and processing costs.
• Costs incurred in purchasing concentrate decreased compared to H1 2022 due to lower prices and volumes.

Merafe Resources Limited- Production report for the six months ended 30 June 2023

• Merafes attributable ferrochrome production from the Glencore Merafe Chrome Venture for the six months ended 30 June 2023 decreased by approximately 9% compared to the prior comparative period.
• The reduction is due to planned pullback in production.

Oceana Group Limited

• Oceana Group Limited announces that Daybrook Fisheries Incorporated has repaid US$15 million of debt and refinanced its five-year term loan and revolving credit facility.
• Oceana acquired Daybrook Fisheries in 2015, and the debt raised by Daybrook at the time amounted to US$142 million.
• As of June 2023, Daybrook had repaid US$46.4 million, leaving a remaining debt balance of US$95.6 million.
• Due to the Group's recent financial performance and tightening US credit markets, the decision was made to refinance the facility before the end of the 2023 financial year.
• Daybrook successfully concluded the refinance, replacing the existing term debt of US$95.6 million with a new facility of US$80.6 million, utilizing an additional US$15 million from excess cash generated during the year.

Capitec Bank Holdings Limited

• A prescribed officer disposed of 1 210 Capitec shares worth approximately R2 million.

Argent Industrial Limited- Dealings in securities

• A director purchased 14 000 shares for a total value of R222 740.00.

The U.S.

Tesla

• Tesla now has more than 45 000 superchargers around the world.

Apple

• Apple is getting ready to release its new iPhone lineup in September.