Sydney - Monday - November 3: (RWE Australian Business News) - Zimplats Holdings Ltd (ASX:ZIM) lost $US16.64m in the quarter ended September 30, compared with an operating profit of $US49.54m for the previous (June) quarter. Revenue fell 83pc to $15.36m from $93.06m as a result of lower metal prices and sales volumes, which were 35pc lower due to the furnace repair shutdown. As a result of the continued fall in metal prices, $17.4m in pipeline revenue adjustments were effected in the latest quarter. Operating costs were 26pc lower than the previous quarter, reflecting mainly the lower sales volume. Operating costs in the quarter were, however, adversely affected by an overvalued local currency, as well as high fuel prices. Total ore mined rose 8pc to 640,000 tonnes from 591,000 tonnes in the previous quarter.
ZIM Price at posting:
$8.75 Sentiment: LT Buy Disclosure: Not Held
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