KEH - Keaton Energy Holdings Limited - Trading Statement
KEH
KEH
KEH - Keaton Energy Holdings Limited - Trading Statement
Keaton Energy Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
JSE share code: KEH ISIN: ZAE000117420
("the Company")
Trading Statement
The Company`s audited results for the year ended 31 March 2011 are expected to
be published on or about 9 June 2011.
Shareholders are advised that basic and headline earnings per share for the year
ended 31 March 2011 are expected to be between 10.0 cents and 10.5 cents (2010:
basic earnings per share 4.1 cents, headline earnings per share 5.6 cents).
Shareholders are advised that the above information has not been reviewed or
reported on by the Company`s auditors.
This trading statement is issued in terms of the JSE Limited`s Listings
Requirements.
Project update
Progress on the Vanggatfontein Project has been good, with the 5-Seam plant
operating to design, with excellent acceptance of the metallurgical coal product
by the domestic market and consequent strong sales.
The construction and commissioning of the 4- and 2-Seam plant was on track to
deliver the full ramp-up commitment of thermal coal to Eskom by the end of July
2011. However, Vanggatfontein`s ability to meet this commitment may be affected
by a recent incident in which the support structure for one of the Dense Medium
Separation unit feed bins failed during pre-commissioning.
Management is working closely with DRA Mineral Projects (Pty) Limited, the lump-
sum turnkey contractor responsible for construction of the plant, to mitigate
the incident`s effect. While the financial implications of the incident have yet
to be established, insurance cover is in place.
2 June 2011
Bryanston
Investment bank and sponsor
Nedbank Capital
Date: 02/06/2011 13:45:00 Produced by the JSE SENS Department.
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