MATODZI RESOURCES LIMITED - TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
MATODZI RESOURCES LIMITED
(Registration number 1933/004523/06)
Share code: MTZ
ISIN: ZAE000042412
("MATODZI" or "the Company")
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
Following an initial review of the interim results by the Company"s directors,
shareholders are advised that MATODZI headline earnings for the six-month period
ending 30 September 2003 will be substantially lower when compared to the
previous period ("substantially" being a decrease of equal to or greater than
30% as defined in the JSE Securities Exchange South Africa ("JSE") Listings
Requirements).
Matodzi has acquired investments and is participating in projects, which
resulted in a cleaner and healthier balance sheet. The main reasons for the
decrease in earnings are that investments and projects have not yet yielded
anticipated earnings. The loss reflected on the income statement was in line
with the Company"s expectations.
The MATODZI board is presently finalising their review of the Company"s results
for the six months to 30 September 2003. Shareholders are accordingly advised to
exercise caution when dealing in the Company"s securities until the interim
results are published on or about 23 December 2003.
Johannesburg
9 December 2003
Sponsor
River Group
Date: 09/12/2003 05:15:16 PM
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