Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) has detailed financial impacts from the previously announced weather-related challenges in its first half.
Trading was also hampered by weaker year-on-year chrome pricing.
The company, in a statement, told investors that basic earnings per share for the six months ended 31 March is expected to be between 2 cents and 3 cents, which would represent a decline of 76-84% compared to the same period a year ago.
Interim results later this week (slated for 22 May) will provide further insights for investors.
In March, Tharisa said it would retain its production forecasts for the full year after confirming that its second quarter has experienced unprecedented rainfall and lightning strikes, which impacted mining operations in South Africa.
Chief executive Phoevos Pouroulis, in March, said drier winter months should help bring production back to more normal levels in the second half of the year.
In London, Tharisa shares dipped around 9% to 55.56p in Monday’s early deals.