METOREX LIMITED - TRADING UPDATE
METOREX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
JSE code: MTX
ISIN : ZAE000022745
Issuer code MEMTX
(`Metorex` or `the company`)
TRADING UPDATE
Shareholders are advised that, notwithstanding the substantial improvement in
the results during the second half of the financial year, and the significant
profits realised by Metorex on the closure of certain of its gold hedges at
Barberton Mine, the strength of the Rand against the US Dollar has negatively
influenced the company`s results for the year ended 30 June 2004.
Furthermore, as a result of increased depreciation and finance charges,
retrenchment costs and the impairment of certain assets, the company`s earnings
per share for the year ended 30 June 2004 are expected to be substantially below
(`substantially` is defined in the Listings Requirements of the JSE Securities
Exchange South Africa (`JSE`) as a movement of 30% or more) the earnings per
share for the previous year.
The company`s results for the year ended 30 June 2004 have not been reviewed
and/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 preliminary results are published on or about 26 August 2004.
Johannesburg
5 August 2004
Sponsor:
Barnard Jacobs Mellet Corporate Finance
(Pty) Limited
Date: 05/08/2004 05:05:02 PM Produced by the JSE SENS Department
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