Merafe Resources Ltd (JSE:MRF)
R 1.32 0.02 (1.54%) Market Cap: 3.30 Bil Enterprise Value: 1.65 Bil PE Ratio: 1.88 PB Ratio: 0.62 GF Score: 79/100
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Full Year 2020 Merafe Resources Ltd Earnings Call Transcript

Mar 08, 2021 / 08:00AM GMT
Release Date Price: R0.7 (+2.94%)
Operator

Good day, ladies and gentlemen, and welcome to the Merafe Resources Annual Results Presentation. (Operator Instructions) Please note that this call is being recorded.

I would now like to hand the conference over to Zanele Matlala. Please go ahead.

Zanele Joyce Matlala
Merafe Resources Limited - CEO & Executive Director

Good morning. Welcome to Merafe's Annual Results Presentation. Ditabe and I will take you through the presentation. And Japie Fullard, CEO of Glencore Alloys, is also on the line available for questions at the end of the presentation.

As reported at interim results, COVID-19 had a significant impact on our business, both from a trading and operating perspective. Our operating environment was already fragile before COVID. We faced headwinds from weaker demand, weaker chrome prices and increasing costs.

Regrettably, we had a fatality at the Venture's Magareng mine on 20 October 2020. There was also a significant deterioration in the total recordable injury frequency rate. COVID-19 protocols were introduced at our

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