The Daily Update: 2 February

July 17, 2023

FinMeUp

South Africa

Anglo American Platinum Limited- PGMs Production Report for the fourth quarter ending 31 December 2022

Total PGM production decreased by 10% to 990,400 ounces.
Own-managed mines PGM production decreased by 12% to 557,600 ounces.
Refined PGMs production decreased by 37% to 877,200 ounces due to the delay of the Polokwane smelter rebuild.
PGMs sales volumes decreased by 31% to 883,400 ounces due to lower refined production.

Kumba Iron Ore Limited- Production and sales report for the fourth quarter

Production increased by 3% to 10.0 Mt in Q4 2022 and decrease by 8% for the full year.
Sales decreased by 35% to 6.9 Mt in Q4 2022 and fell by 9% for the full year.
Finished stock as at 31 December 2022 increased to 7.8 Mt from 6.1 Mt.
Delivered an average realised free-on-board export iron ore price of US$113/wmt, which is a 13% increase from the benchmark price.
HEPS is expected to be between R58.29 and R64.49, representing a decrease of between 38% and 44%.

Meta Earnings

EPS of $1.76 missing expectations of $2.26.
Revenue of $32.17B beating expectations of $31.65B.
Meta has announced a new $40B share buyback program.
Meta has recorded daily active users of 2 billion, beating expectations of 1.98 Billion.
A total of 3.74 billion people use a Meta Platforms product on a monthly basis.
Facebook's Reality Labs segment which includes its VR/Metaverse efforts last quarter had revenue of $727 Million and a net loss of $4.28 Billion.
Meta CEO Mark Zuckerberg just said he wants Meta to become a leader in generative AI, in addition to its existing work in recommendations AI.

Netflix

Netflix has unveiled the first details for its new password-sharing rule:
Every 31 days your device must log in on your home network, or it will be blocked.

Microsoft