Anooraq Platinum Cash Flow Positive by December 2010
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TSX- and JSE-listed platinum company Anooraq Resources will be cash positive after project capital by December, says CEO Philip Kotze. The company’s cash-flow has always been positive since December of 2009. Anooraq, has bought the Bokoni platinum mine (formerly Lebowa) from Anglo Platinum.
CEO Philip Kotze is quoted as saying:
“Over the next three quarters, we certainly believe that we will able to be able to demonstrate cash positivity after project capital, so by December of this year. Now that the labour restructuring is behind us we can start to focus on production volume growth, while at the same time maintaining our track record on absolute cost reductions, thereby improving margins moving forward.”
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