Wesizwe Platinum Loses R357.8 Million For 2011

Minweb reported Wesizwe Platinum (PINK:WSZWF) suffered a net loss of R357.8 million for the year ended 2011.

As quoted in the press release:

This resulted in a diluted loss per share of 26.58 cents versus earnings per share last time around of 40.85 cents.

But after an equity injection and associated funding commitment secured in May 2011, the company officially launched the Bakubung Platinum Mine in July 2011 and settled its equalisation liability related to its minority shareholding in Maseve Investments 11 (Pty) Ltd.

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