[miningmx.com] — SENTULA Mining said on Tuesday it expected to report a rise in full-year earnings, and also saw better margins in its current financial year.
Sentula said full-year headline earnings per share are expected to be at least 16 cents, compared with 0.6 cents the previous year.
“The substantial increase in group headline EPS for the 2011 financial year resulted from Megacube Mining returning to operational profitability in the second half of the financial year,” the company said in a statement.
Sentula said margins are expected to improve in the current financial year as contracts are renegotiated based on an improving demand for mining services.
The company said it is likely to restart drilling operations in Ivory Coast, which were suspended due the political unrest in the west African country.
Sentula said underground operations at its Nkomati anthracite mine would be placed on care and maintenance from the end of May this year due to regulatory and environmental issues.
The mine was granted a mining right last year, but operations, which started in September, were suspended in March.
