Zimplats Borrows Higher on Depressed Metal Prices

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.

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