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GGM 201307170016A
Prior period restatement and trading statement
GOLIATH GOLD MINING LIMITED
Incorporated in the Republic of South Africa
(Registration number 1933/004523/06)
Share code: GGM ISIN: ZAE000154753
(“Goliath Gold” or “the Company”)
PRIOR PERIOD RESTATEMENT AND TRADING STATEMENT
PRIOR PERIOD RESTATEMENT
Shareholders are advised that the board of directors of Goliath Gold (“the Board”) has restated the share
based payment expense in terms of the BEE transaction following a revision at year end of the initial
assumptions upon which the expense was based. Accordingly, the headline loss calculation as set out in the
reviewed condensed consolidated interim financial statements for the six months ended 30 June 2012, as
released on SENS on 28 September 2012 was restated.
The effects of the aforementioned adjustments are as follows:
Restated Reviewed
six months six months
to 30 June to 30 June
Change 2012 2012
% R’000 R’000
Share based payment expense (BEE transaction) (25.5) (23 770) (31 897)
Total comprehensive loss for the period (15.1) (45 531) (53 658)
Loss per share (cents) (16.8) (35.32) (42.47)
Headline loss reconciliation
Loss for the period (45 531) (53 658)
Adjustments for:
Loss on disposal of assets 100.0 1 105 -
Fair value adjustment 100.0 1 178 -
Loss on sale of property plant and equipment 100.0 93 -
Headline loss for the period (19.6) (43 155) (53 658)
Headline loss per share (cents) (23.6) (33.47) (43.80)
Net asset value per share (cents) (15.9) 111.61 132.75
Tangible net asset value per share (cents) (40.6) 60.52 101.83
TRADING STATEMENT
In terms of the JSE Listings Requirements, companies are required to publish a trading statement as soon
as they become reasonably certain that the financial results for the period to be reported on will differ by
more than 20% from that of the previous corresponding period.
Accordingly, a review of the financial results for the six month period ended 30 June 2013 by the Board has
resulted in a reasonably certain expectation that the consolidated loss per share will improve to between
9.17 cents and 16.23 cents per share and the consolidated headline loss per share will improve to between
8.89 cents and 15.59 cents, compared to the restated consolidated loss per share of 35.32 cents and the
restated consolidated headline loss per share of 33.47 cents for the six month period ended 30 June 2012.
The financial information on which this trading statement is based has not been reviewed or reported on by
the Company’s auditors. Goliath Gold’s interim financial results for the six months ended 30 June 2013 are
expected to be released on SENS on or about 27 September 2013.
Johannesburg
17 July 2013
Sponsor
Merchantec Capital
Date: 17/07/2013 10:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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