PAM - Palabora Mining Company Limited - Trading Statement
PAM
PAM
PAM - Palabora Mining Company Limited - 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 year ended 31 December 2009 are
expected to be as follows:
- Earnings before interest, tax, depreciation and amortisation (EBITDA)
between R 1 105 million (2 287 cents per share) and R 1 139 million (2 357
cents per share);
- Basic earnings between R 278 million (576 cents per share) and R 287
million (593 cents per share);
- Headline earnings between R 283 million (586 cents per share) and R 292
million (604 cents per share);
- Cash and cash equivalents between R 1 367 million and R 1 409 million; and
- Net cash between R 1 266 million and R 1 305 million.
The above guidance compares with EBITDA of R 1 305 million (2 699 cents per
share), basic earnings of R 720 million (1 489 cents per share) and headline
earnings of R 721 million (1 493 cents per share) for the previous year. The
reported operating earnings for 2008 were R 835 million. This has been adjusted
to arrive at the EBITDA of R 1 305 million by including the depreciation expense
of R470 million.
EBITDA is operating income excluding finance costs, foreign exchange gains and
losses, income tax expenses and depreciation and amortisation.
Cash and cash equivalents were R 747 million and net cash R 555 million 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 year ended 31 December
2009 will be published on or about 9 February 2009.
Phalaborwa
22 January 2010
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 22/01/2010 10:03:01 Produced by the JSE SENS Department.
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