THABEX EXPLORATION LIMITED - EXERCISE OF OPTION, TRADING STATEMENT AND
CAUTIONARY ANNOUNCEMENT
THABEX EXPLORATION LIMITED
Registration No 1988/000763/06
(Incorporated in the Republic of South Africa)
JSE share code: TBX
ISIN Code: ZAE000013686
Young Lions Exploring Africa
(Thabex or the Company)
EXERCISE OF OPTION, TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Further to the announcement on 23 February 2003, Thabex advises shareholders as
follows:
1. Exercise of option
AIM Resources Ltd (AIM), a Junior Mining company listed on the Australian
Stock Exchange (ASX Code - AIM) announced today that it is exercising its option
to acquire Thabexs Mokopane Platreef Project held in wholly owned subsidiary,
Platinexco (Pty) Ltd (Platinexco) for R20 million.
2. Trading statement
As a result of the disposal of Platinexco (the exercise of the option referred
to above), the details of which are fully described in the Circular to
Shareholders dated 13 April 2004, Thabex advises that it expects earnings and
headline earnings for the six-month period ended 31 August 2004 to be
substantially above the earnings for the six-months ended 31 August 2003. In
terms of the JSE Securities Exchange South Africa (the JSE) Listings
Requirements substantially is defined as a movement equal to or greater than
30%.
The JSE has advised the Company on 7 April 2004 that on the finalisation of the
disposal of Platinexco, Thabexs classification will be reconsidered and the
Company may be reclassified in terms of the FTSE Sector Classification system,
to the Resources; Mining - Other Mineral Extractors and Mines sector.
Shareholders will be informed of the date from which this reclassification will
become effective, if the JSE requires the sector change.
3. Cautionary announcement
As a result of the above and as the earnings estimate has not been reviwed by
Thabexs auditors, shareholders are advised to exercise caution when dealing in
the Companys securities until the publication of the Companys interim results
for the six-month period ended 31 August 2004 that are expected to be published
by the end of November 2004.
Johannesburg
14 May 2004
Sponsor: PSG Capital Ltd
Explore our website: www.thabex.com
E-mail: info@thabex.com
Telephone number: 0860 THABEX (0860 843339)
Date: 14/05/2004 02:37:23 PM Produced by the JSE SENS Department
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