MRF - Merafe Resources Limited Group - Trading statement for the year ended 31
MRF
MRF
MRF - Merafe Resources Limited Group - Trading statement for the year ended 31
December 2011
Merafe Resources Limited Group
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
JSE share code: MRF
ISIN: ZAE000060000
("Merafe")
Trading statement for the year ended 31 December 2011
In terms of the JSE Limited Listings Requirements, issuers are required to
publish a trading statement as soon as they are satisfied that a reasonable
degree of certainty exists that the financial results for the period to be
reported on next, will differ by at least 20% from those of the prior
comparative period.
Shareholders are advised that Merafe is expecting to report the following for
the year ended 31 December 2011:
* Basic earnings per share of between 5 cents and 6 cents, compared
to 11 cents for the prior comparative period;
* Headline earnings per share of between 6 cents and 7 cents compared
to 11 cents for the prior comparative period.
Update on cash balance and debt
At 31 December 2011, Merafe closed with a cash balance of R220m.
Merafe signed agreements with ABSA Capital during December 2011 to secure a
long-term debt facility of R800 million which includes refinancing of its
existing R300 million long-term debt and funding for Project Lion II. At 31
December 2011, Merafe had long-term debt of R300 million.
Shareholders are advised that the financial information on which this trading
statement is based, has not been reviewed or reported on by Merafe`s external
auditors and is provided in terms of paragraph 3.4(b) of the JSE Limited
Listings Requirements. The financial results for the year ended 31 December
2011 are expected to be released on SENS on 6 March 2012.
Sandton
25 January 2012
Sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 25/01/2012 08:30:01 Produced by the JSE SENS Department.
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