

Tharisa plc (TIHRF) Q2 2026 Earnings Call Transcript

Tharisa plc (TIHRF) Q4 2025 Earnings Call Transcript

Tharisa plc - Special Call Company Participants Phoevos Pouroulis - CEO & Director Roy Murley Vulela Makuni Michael Jones - CFO & Director Ilja Graulich - Head of Investor Relations & Communications Presentation Operator Good morning, and welcome to the Tharisa plc Investor Presentation. [Operator Instructions] Before we begin, I'd like to set the following poll.

Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) has reported an encouraging set of production results for the third quarter of its 2025 financial year. The period saw increased mining volumes and improved output of both platinum group metals (PGMs) and chrome concentrates, allied to stronger pricing, though the company has lowered its production guidance slightly.

Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) told investors it will kick off a US$5 million share buyback programme. The company said its shares are trading at a significant discount, and the repurchase supports capital discipline.

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.

Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) has maintained its full-year production guidance for platinum group metals (PGMs) and chrome despite reporting a mixed second-quarter hit by heavy rains, lightning, and continued global uncertainty. The South Africa-based miner, listed in Johannesburg and London, said it still expects to produce between 140,000 and 160,000 ounces of PGMs and 1.65 to 1.8 million tonnes of chrome concentrates in the financial year to September 2025.

Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) kept its production guidance for the 2025 financial year unchanged despite the tough start to the year, notes broker Panmure Liberum. Guidance remains 140-160,000oz 6E PGMs and 1.65-1.80Mt of chrome concentrates, noted the broker.