MVL
MVL
MVL - Mvelaphanda Resources Limited - Trading Statement
MVELAPHANDA RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1980/001395/06)
Share code: MVL
ISIN: ZAE000050266
TRADING STATEMENT
In terms of the JSE Limited Listings Requirements, companies are required to
publish a trading statement as soon as they are reasonably certain that the
financial results for the current reporting period will differ by more than 20%
from those of the previous corresponding reporting period. In light of the
aforementioned requirements, shareholders are advised that Mvelaphanda Resources
Limited ("Mvela Resources" or "the group") expects a basic and headline loss per
share of between 100 cents and 125 cents for the six months ended 31 December
2007. This compares with a basic and headline loss per share of 600 cents
(revised from 598 cents), reported in the six month period ended 31 December
2006.
The relative improvement in earnings is primarily due to a lower unrealised fair
value adjustment arising from the revaluation of the group`s investment in Gold
Fields South Africa. Gold Fields` share price declined 10% during the six month
period ending 31 December 2007, compared with an 18% decline during the
comparable six month period ending 31 December 2006, resulting in a lower
unrealised fair value adjustment. This fair value adjustment has no impact on
the group`s cash flows.
The financial information in this trading statement has not been reviewed or
audited by the company`s auditors.
In compliance with the Listings Requirements of the JSE Limited, the interim
financial results will be reported in accordance with International Financial
Reporting Standards ("IFRS"). The group`s interim results are expected to be
released on 14 February 2008.
ENDS
Johannesburg
12 February 2008
Sponsor
JP Morgan
Date: 12/02/2008 12:05:16 Produced by the JSE SENS Department.
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