Shares of Northam Platinum fell almost 5% on Monday morning after it warned shareholders that a climb in production in its six months to end-December hadn't been enough to offset slumping prices.
Headline earnings per share could fall as much as 97.5%, the company said, and it is also still counting the costs of its failed bid for Royal Bafokeng Platinum (RBPlat).
Sales fell 25.5% to R15 billion despite a 10.6% rise in production of its basket of four metals to 434 977 ounces, with prices falling 42.3% in rand terms.