Northam Platinum Holdings Limited · JSE:NPH

Northam Platinum — H1 2012 Earnings Presentation

16 slides from Northam Platinum's earnings presentation, Feb 24, 2012

  1. Slide 1: Key features from the results

    2/24/2012 Key features from the results  Zondereinde production up 26.5% to 4 592kg (147 636oz)  Metal sales 13.1% higher at 5 295kg (170 238oz)  Basket prices received up 10.6% to R341 725/kg  Earnings up 161% to R198 million  Cash on hand of R972 million  Interim dividend of 5 cents per shar

  2. Slide 2: Safety; Zondereinde operating performance

    2/24/2012 Safety Injury incidence rates per 200 000 man hours 6 5.0 5 4.1 4 3 2.5 2.3 2.3 2.3 2.1 2.0 2 1.5 1.3 1.0 0.8 1 1.2 1.3 1.2 1.0 1.0 1.3 1.0 1.0 0.6 0.5 0.7 0.9 0 F2001 F2002 F2003 F2004 F2005 F2006 F2007 F2008 F2009 F2010 F2011 H1 2012 LTIIR RIIR H1 results: six months to 31 December 2011

  3. Slide 3: Zondereinde mine plan and mining ratios

    2/24/2012 Zondereinde mine plan H1 results: six months to 31 December 2011 | 24 February 2012 4 Zondereinde mining ratios 100% 6.0 90% 5.0 80% 70% 4.0 Mill head grade (g/t) % contribution 60% 50% 3.0 40% 2.0 30% 20% 1.0 10% 0% 0.0 F2003 F2004 F2005 F2006 F2007 F2008 F2009 F2010 F2011 H1 F2012 Merens

  4. Slide 4: Zondereinde Merensky facies ratios

    2/24/2012 Zondereinde Merensky facies ratios 100% 90% 30%NR 80% 4%NP2 70% Percentage Merensky facies 60% 50% 40% 54%P2 30% 20% 10% 7%FWP2 5%Waste 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 H1 Financial year H1 results: six months to 31 December 2011 | 24 February 2012 6 FINA

  5. Slide 5: Income statement; Cost of sales breakdown

    2/24/2012 Income statement 2012 2011 Change R000s R000s % Sales revenue 1 979 855 1 614 063 22.7 Cost of sales 1 759 343 1 546 932 13.7 Operating profit 220 512 67 131 228.5 Share of earnings from associate 3 405 1 415 140.6 Investment revenue 33 060 50 397 (34.4) Sundry income 32 050 11 891 169.5 P

  6. Slide 6: Cash flow statement; Rand basket price vs cash costs

    2/24/2012 Cash flow statement 2012 2011 Change R000s R000s % Cash flow from operations 211 733 176 190 20.2 Investing cash flows (899 250) (343 722) (161.6) Financing cash flows (38 242) (51 293) 25.4 Net increase/(decrease) in cash (725 759) (218 825) (231.7) Cash at beginning of period 1 697 853 1

  7. Slide 7: Market review

    2/24/2012 MARKET UPDATE H1 results: six months to 31 December 2011 | 24 February 2012 Market review  Autocatalysts  modest year-on-year growth in Pt; solid growth in Pd  EU: increase in vehicle sales; German market bouyant  Japan: vehicle production restricted by tsunami; Thailand floods  US: h

  8. Slide 8: Market review; Summary outlook

    2/24/2012 Market review  Industrial  growth in established and emerging markets  demand from glass, chemical and petroleum sectors strong  gains for Pt, Pd and Rh  Investment  economic uncertainties – risk aversion  reduced investment activity  current ETF holdings  Pt: 1.52 million oz  Pd

  9. Slide 9: Summary outlook

    2/24/2012 Summary outlook  Demand side risks  EU debt crisis – risk of wider economic disruption  US – positive indicators – but not yet enduring  Japan – near term recovery likely – longer term uncertain  China – growth potential but at slowing pace  Supply side risks to influence sentiment a

  10. Slide 10: Booysendal project update

    2/24/2012 Booysendal project update  Lebalelo pipeline commissioned  Focus on development: 2 225m completed to date  Reef stockpile: 57 000 tonnes  Civil, electrical and mechanical construction for concentrator plant and other infrastructure progressing well  Mill shells delivered and mounted o

  11. Slide 11: Booysendal progress

    2/24/2012 Booysendal progress Mine site June 2011 Mine site January 2012 H1 results: six months to 31 December 2011 | 24 February 2012 20 H1 results: six months to 31 December 2011 | 24 February 2012 21 11

  12. Slide 12: H1 results: six months to 31 December 2011

    2/24/2012 H1 results: six months to 31 December 2011 | 24 February 2012 22 H1 results: six months to 31 December 2011 | 24 February 2012 23 12

  13. Slide 13: Key issues going forward

    2/24/2012 Key issues going forward  Zondereinde mine  safety  production  costs  Booysendal  power  project implementation  community issues  Corporate  finalise AQP transaction  asset review H1 results: six months to 31 December 2011 | 24 February 2012 24 APPENDICES H1 results: six month

  14. Slide 14: Sales volumes

    2/24/2012 Sales volumes Change H1 2012 H1 2011 % Platinum kg 3 261 2 909 12.1 Palladium Kg 1 547 1 331 16.2 Rhodium Kg 385 343 12.2 Gold Kg 102 99 3.0 Total (3PGE+Au) Kg 5 295 4 682 13.1 Ruthenium Kg 463 564 (17.9) Iridium Kg 87 136 (36.0) Copper tonnes 345 357 (3.4) Nickel tonnes 757 655 15.6 H1 re

  15. Slide 15: Sales prices

    2/24/2012 Sales prices Change H1 2012 H1 2011 % Platinum R/kg 410 960 367 687 11.8 Palladium R/kg 170 234 128 662 32.3 Rhodium R/kg 422 466 513 655 (17.8) Gold R/kg 423 015 293 914 43.9 Total (3PGE+Au) R/kg 341 725 308 886 10.6 Ruthenium R/kg 30 293 42 150 (28.1) Iridium R/kg 265 476 168 013 58.0 Co

  16. Slide 16: Disclaimer

    2/24/2012 Disclaimer Certain statements in this presentation (other than the statements of historical fact) may contain forward-looking statements regarding Northam’s operation, economic performance or financial condition, including, without limitation, those concerning the economic outlook for the

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