Overall, S32’s results were fairly in-line with guidance, with a better than expected EBITDA and DPS. A fully franked dividend of US 1 cent per share will be paid on 8 October 2020. For its FY21 production guidance, Cannington’s FY21 Guidance (silver, zinc, lead) increased by 10% and Illawarra’s Metallurgical Coal guidance decreased by 4%. Cost guidance seems to be roughly in line or slightly decreased from last year, while major project capital expenditure is projected to be 38.25% lower in FY21.
Manganese ore price of US$4.83/dmtu for 44% manganese production
Higher volumes at:
Partially offset by lower volumes at:
Highlighted is Cannington’s FY21 Guidance increased by 10% and Illawarra’s Metallurgical Coal guidance decreased by 4%. Australian and South African Manganese guidance for the upcoming has been released for the first time, both at slightly higher rates than in FY20.
Cost guidance seems to be roughly in line or slightly decreased from last year, while major project capital expenditure is projected to be 38.25% lower in FY21.
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