Episode notes
Harmony Gold released its FY24 results for the year ended 30 June 2024. In this report, we discuss the key takeaways from the results and update our valuation.
Since our last report, Harmony is up roughly by 8% and the gold price is up about 9%. Highlights from the results include the following:
- Group production increased by 6% to 1.56moz, driven by higher grades at Mponeng, Hidden Valley and Mine Waste Solutions.
- Group revenue increased by 25% to R6.31 billion, driven by higher production, higher grades and a higher average gold price
- Harmony ended the period with net cash of R2.9 billion
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