ARM - Trading Update
AFRICAN RAINBOW MINERALS LIMITED
(Formerly Anglovaal Mining Limited (`Avmin`))
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI and LSE Share code: AGM
ISIN: ZAE000054045
(`ARM`)
ARM TRADING UPDATE
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Securities
Exchange, South Africa, a listed company is required to publish a trading
statement as soon as it is satisfied that a reasonable degree of certainty
exists that its financial results for the period to be reported on next will
differ by a least 20% from those of the previous corresponding period.
ARM results have been positively impacted by strong performances from its
ferrous metals and nickel divisions: owing to increased volumes and high
commodity prices for, primarily, manganese; and better nickel prices. These
performances were partially offset by equity accounted losses from Harmony Gold
Mining Company Limited (Harmony) for the period until 30 November 2004. ARM is
treating Harmony as an investment from 1 December 2004.
Shareholders are therefore advised that ARM expects its headline earnings per
share for the six months ended 31 December 2004 to be between 9 and 11 cents per
share, while basic earnings for the period are expected to be between 115 and
120 cents per share*. This compares with the result for the corresponding six
months period to 31 December 2003 being a 1 cent loss for both headline and
basic earnings.
This trading statement has not been reviewed or reported on by ARM`s external
auditors. The release of the announcement of the half-year results is expected
to be published on or about 15 February 2005.
* Includes a reversal of previously deferred profits on the sale of Avgold
Limited
Johannesburg
10 February 2005
Sponsor
Deutsche Securities (SA) (Pty) Ltd
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