[miningmx.com] – IT was unlikely that Impala Platinum would have to return to the market to raise further funds owing to the weakness of the rand, said Bloomberg News citing analysts.
“For most of the last year there was fear they will have . to raise money,” said Albert Minassian, an analyst for Investec Securities who added that that fear had abated.
“Given the recent moves in the platinum price and the rand, the risk that Impala will have to raise funds has certainly abated somewhat,” said Sean Ashton, chief investment officer at Anchor Capital.
Impala had a cash balance of R4.5bn at the end of June and would not seek more funds in the 2014 financial year, CEO Terence Goodlace said last month.
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