METOREX LIMITED - TRADING UPDATE
METOREX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
Share code: MTX
ISIN code: ZAE000022745
Issuer code: MEMTX
("the company")
TRADING UPDATE
Shareholders are advised that, as previously indicated, the group"s earnings
and headline earnings per share for the six months ended 31 December 2003 will
be substantially below those of the comparative period. It is anticipated
that the interim results for the six months ended 31 December 2003 will be
published on or about 19 February 2004, at which stage further details will be
provided regarding the company"s results.
The group"s earnings and headline earnings have not been reviewed or reported on
by the company"s auditors and accordingly, shareholders are advised to exercise
caution when dealing in the company"s securities on the JSE until the interim
results for the six months ended 31 December 2003 are published.
The recent increase in the base metal and gold prices and weakening of the
Rand/Dollar exchange rate will, if maintained, enhance group revenues and
earnings in the second half of the financial year ending 30 June 2004.
Shaft sinking at Chibuluma South has commenced with initial copper production
expected during June/July 2004 building up to full production twelve months
later.
Plant construction is progressing well at the new Middelburg Townlands project
with coal production from this colliery planned during May/June 2004.
Johannesburg
21 January 2004
Sponsor:
Barnard Jacobs Mellet Corporate Finance
(Pty) Limited
Date: 21/01/2004 12:00:10 PM Supplied by www.sharenet.co.za
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