TIHRF - Tharisa PLC CEO discusses solid Q2 performance and innovative energy storage solution
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Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF)CEO Phoevos Pouroulis takes Proactive's Stephen Gunnion throughthe company's second-quarter production performance and futureprospects.
While Tharisa reported aslight decrease in chrome concentrate production to just over 400,000tonnes, Pouroulis said the company remains on track to meet its annualguidance of 1.7 to 1.8 million tonnes. PGM production remained steadyat 35.3 thousand ounces, with full-year guidance set at 145 to 155thousand ounces, requiring improved recovery in the second half.
Progress was made at the Karoplatinum project in Zimbabwe, with construction continuing despite aslowdown in capital expenditure, awaiting the finalisation of projectfinancing.
Pouroulis alsohighlighted Tharisa's innovation strategy with the official launchof Redox One, a chrome iron redox flow battery technology forgrid-scale, long-duration energy storage, developed from thecompany's chrome concentrate. The technology, aimed atdecarbonizing the company's footprint, supports the use ofrenewable energy beyond daylight hours.
The CEO also discussed a $5 million share repurchase programme,taking advantage of the impact of depressed PGM prices on thecompany's share price.
The interview concluded with areflection on the company's 10th anniversary of Tharisa's JSElisting and a positive outlook for the third quarter, focusing onimproved PGM recoveries.
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