Wesizwe’s expenditure costs rise, losses widen


Wesizwe’s main strategic project is to build and operate South Africa’s next platinum group metals mine at its Bakubung Minerals operation
Photo by Creamer Media
JSE-listed Wesizwe Platinum’s administration expenditure for the year ended December 31, 2024, increased by R70.2-million to R98-million from R27.8-million year-on-year.
Provision for legal claims of R207-million was recognised, compared with nothing in the prior financial year.
The company’s headline loss a share widened by 11.31c to a headline loss of 12.86c.
Its loss a share also widened by 11.31c to a loss of 12.86c.
The board has elected not to declare a dividend for the year.
Wesizwe’s main strategic project is to build and operate South Africa’s next platinum group metals mine at its Bakubung Minerals operation, and it will not earn revenue from mining activities until this is brought into operation.
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