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    market news

    Zimplats Borrows Higher on Depressed Metal Prices

    Investing News Network
    Aug. 01, 2012 02:25PM PST
    Precious Metals

    Zimbabwe Platinum Mines (ASX:ZIM) said it will have to borrow more money than originally planned due to depressed metal prises that have put pressure on cash flows.

    Zimbabwe Platinum Mines (ASX:ZIM) said it will have to borrow more money than originally planned due to depressed metal prises that have put pressure on cash flows.

    As quoted in the market news:

    The company also saw an 11% decrease in revenue to $114.43-million from $128. 21-million achieved in the March quarter.

    Despite the 13% increase in the metals sales volumes during the latest quarter, which increased to 102 098 oz from 89 979 oz, gross revenue per platinum, palladium, rhodium and gold (4E) ounces were 21% lower than the previous quarter.

    Click here to read the full Mining Weekly report.

    market newsasx:zimplatinum mines
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