PAM
PAM
PAM - Palabora - Trading Statement
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 STATEMENT
As required by the Listings Requirements of the JSE Limited, shareholders are
advised that Palabora`s earnings for the six months ended 30 June 2009 are
expected to be as follows:
- earnings before interest, tax, depreciation and amortisation (EBITDA)
between R 552 million (1,141 cents per share) and R 576 million (1,192
cents per share);
- basic earnings and headline earnings between R 134 million (284 cents per
share) and R 144 million (297 cents per share);
- cash and cash equivalents between R 869 million and R 908 million; and
- net cash between R 765 million and R 800 million.
The above guidance compares with EBITDA of R 852 million (1 763 cents per
share), basic earnings of R464 million (961 cents per share) and headline
earnings of R466 million (965 cents per share) for the prior comparable period.
EBITDA is operating income excluding finance costs, foreign exchange gains and
losses, income tax expenses and depreciation and amortisation. The expected
change in earnings is mostly due to lower Rand price of copper sold.
Cash and cash equivalents were R747 million and net cash of R555 million as at
31 December 2008.
Shareholders are advised that the information contained in this trading
statement has not been reviewed and/or reported on by the external auditors of
the Company. It is anticipated that the results for the six months ended 30 June
2009 will be published on or about 4 August 2009.
Phalaborwa
23 July 2009
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 23/07/2009 13:03:12 Produced by the JSE SENS Department.
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