PAM
PAM
PAM - Palabora - TRADING UPDATE
PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number - 1956/002134/06
JSE Code: PAM & ISIN: ZAE000005245
("Palabora" or "the Company")
TRADING UPDATE
As required by the JSE Listings Requirements, shareholders are advised that
Palabora`s earnings for the six months ended 30 June 2007 are expected to be as
follows:
- Operating earnings between R 631 million (1 305 cents per share) and R 650
million (1 345 cents per share) vs R 574 million (1 909 cents per share) in
the first half of 2006.
- Basic earnings between R 368 million (761 cents per share) and R 380
million (786 cents per share) vs R 258 million (869 cents per share) in
2006.
- Headline earnings between R 368 million (761 cents per share) and R 380
million (786 cents per share) vs R 278 million (938 cents per share) in
2006.
- Cash and cash equivalents between R 970 million and R 1 000 million vs
R 401 million in 2006.
- Net debt between R 279 million and R 287 million vs R 2 096 million in
2006.
Following the conversion of the debentures, the total issued share capital of
the Company is 48 337 497 shares compared with issued share capital of 29 677
112 in the first half of 2006.
Operating earnings exclude finance costs, foreign exchange gains and losses, and
income tax expenses. Palabora`s management believes that operating earnings
provide a more meaningful representation of the Company`s earnings from ongoing
operations and uses operating earnings as the primary performance measure.
Shareholders are advised that the information contained in this Trading Update
has not been reviewed and/or reported on by the external auditors. It is
anticipated that the results for the six months ended 30 June 2007 will be
published on or about 30 July 2007.
Phalaborwa
20 July 2007
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 20/07/2007 12:00:01 Produced by the JSE SENS Department.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
