Harmony(US:HMY)2020-02-11 21:21Operational Highlights - Harmony achieved a 46% improvement in Fatality Injury Frequency Rate (FIFR), marking the lowest ever recorded[13] - Gold production increased by 8%, primarily driven by Moab Khotsong and Hidden Valley, but offset by a 32% decrease at Kusasalethu[13] - Underground South Africa gold production increased by 4% in the six months to December 2019 compared to the six months to June 2019[14] Financial Performance - Operating free cash flow margin rose by 63% to 13%, attributed to higher gold prices[14] - The received Rand gold price increased by 19% to R683,158/kg[14] - Revenue increased by 11% to R15,008 million, while production profit increased by 21% to R4,110 million[31] - Net debt decreased by R632 million from June 2019 to December 2019[34, 45] - Net debt decreased by US$42 million from June 2019 to December 2019[36, 46] Future Outlook & Guidance - The company revised its FY20 production guidance to approximately 1.4 million ounces, a 4% decrease[39] - The average underground recovered grade is expected to be between 5.50g/t and 5.57g/t, a 6% decrease[39] - All-in sustaining cost (AISC) is projected to be between R600,000/kg and R610,000/kg, a 3% increase[39]