Northam Platinum has announced a massive jump in its headline earnings per share for the second six months of 2005.

The platinum miner revealed that its first-half earnings per share increased by 395 per cent due to a 25 per cent growth in output as well as high platinum prices.

However, the company suggested that its second-half profits could fall back as Northam expects to see its production slow.

The increases seen in production over the second half of 2005 have been largely attributed by the mining firm to the fact that it has now overcome difficulties following a fire at an underground mine in September 2004 which killed nine miners and forced the firm to close the mine.

Now that it has been reopened, production has returned to pre-September 2004 levels, resulting in higher production and sales volumes.

While the results are impressive, however, Northam had initially predicted that it would see profits jump by between 490 and 500 per cent during the six months to December 2005.


Ÿ Adfero Ltd