Mvelaphanda Resources Limited - Trading statement
Mvelaphanda Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number 1980/001395/06)
Share code: MVL ISIN: ZAE000050266
(`Mvela Resources`)
TRADING STATEMENT
In terms of the JSE Limited Listings Requirements, companies are required to
publish a trading statement as soon as they are reasonably certain that the
financial results for the current reporting period will differ by more than 20%
from those of the previous corresponding period. In light of the aforementioned
requirements, Mvela Resources expects to announce an improvement in earnings per
share and headline earnings per share for the year ended 30 June 2005, of
between 210% and 230% over that of the nine months ended 30 June 2004, reported
last year.
Earnings increased substantially from the previous period primarily as a result
of the inclusion of a full year`s interest on the Gold Fields South Africa
transaction and a net unrealised gain arising from fair value adjustments on
derivative financial instruments, primarily also relating to the Gold Fields
transaction. The net unrealised gain resulting from the fair value adjustments
on derivative financial instruments was primarily attributable to an approximate
7% weakening of the South African Rand against the US dollar and an approximate
17% increase in the Gold Fields share price year-on-year. The financial
information on which this trading statement is based has not been reviewed or
reported on by the company`s auditors. The company`s results for the year ended
30 June 2005 are expected to be published on or about 2 September 2005.
Johannesburg
25 August 2005
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 25/08/2005 04:59:03 PM
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