CMO
CMO
CMO - Chrometco Limited - Trading update - 3rd December 2008
Chrometco Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/026265/06)
Share code: CMO ISIN: ZAE000070249
("Chrometco" or "the group")
TRADING UPDATE - 3rd December 2008
In terms of the listing requirements of the JSE Limited ("JSE"), companies are
required to publish a trading update as soon as they are satisfied that a
reasonable degree of certainty exists that the financial results for the period
to be reported on will differ by 20% or more from the financial results for the
previous corresponding period. Shareholders are advised that Chrometco has just
received an additional R 13million in terms of the sales agreement with
DecoMetal the purchaser of the company`s Rooderand Chromite Ore Reserve. The
balance of the purchase price will be paid on the issue of the new Mining Order
Right which application was Lodged under Section 11 on the 7th November 2008 to
the DME. This revenue receipt has improved the company`s headline profit per
share by between 70% to 80% to 0.086cents per share compared to 0,049 cents per
share for the reported period ended 29th February 2008.
The financial information on which this trading statement is based has not been
reviewed or reported on by Chrometco`s auditors.
For and on behalf of the board of directors
J.R.Francey
Chief Financial Officer.
9th December 2008
Directors: P.C.Baloyi (Chairman), J.R.Francey (CFO), T.W.Scott, P.J.Cilliers,
J.G.Scott.
Designated Advisor
River Group.
Date: 09/12/2008 08:54:19 Produced by the JSE SENS Department.
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