Tharisa reports on PGM and chrome operations for Q3 FY2024

Total reef mined up 21.9% as the benefits of increased stripping provides the necessary in-pit flexibility, with tonnage at 1 261.9 kt (Q2 FY2024: 1 035.0 kt)

Another strong milling performance at 1 396.1 kt (Q2 FY2024: 1 378.5kt) with throughput supplemented by strategic ROM purchases

Quarterly PGM production at 36.9 koz (Q2 FY2024: 35.3 koz)

           –   Rougher feed grade of 1.57 g/t (Q2 FY2024: 1.66 g/t)

           –   Recovery of 68.5% (Q2 FY2024: 62.9%)

Quarterly chrome production of 410.2 kt (Q2 FY2024: 402.7 kt)

           –   Grade of 18.0% Cr2O3 (Q2 FY2024: 18.1%)

           –   Recovery at 67.3% (Q2 FY2024: 66.4%)

Group cash on hand of US$189.9 million (31 March 2024: US$184.6 million), and debt reduced to US$97.7 million (31 March 2024: US$114.0 million), resulting in an increased net cash position of US$92.2 million (31 March 2024: US$70.6 million).

GUIDANCE

Production guidance for FY2024 remains between 145 koz and 155 koz PGMs (6E basis) and 1.7 Mt to 1.8 Mt of chrome concentrates.

The above forward looking statements have not been reported on or reviewed by Tharisa’s auditors and is the responsibility of the directors.