Diamond Core Resources Limited - Trading statement
Diamond Core Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/013468/06)
Share code: DMR ISIN : ZAE000045688
(`Diamond Core` or `the company`)
TRADING STATEMENT
In terms of the JSE Listings Requirements, companies are required to publish a
trading statement as soon as they are aware that the financial results for the
period to be reported upon next will be more than 20% different from that of the
previous corresponding period.
In the financial results for the year ended 30 June 2005, Diamond Core has
provided R2.4 million to cover the maximum rehabilitation funding required for
the Paardeberg East site. In addition, the company provided R1.2 million in
respect of impairment to the water pipeline to the Paardeberg East site as a
result of a local farmer having removed a portion of such pipeline. In terms of
a judgement delivered today, the High Court of the Northern Cape (Provincial
Division) ruled that the farmer must replace the relevant portion of the
pipeline and allow the company to make use of the pipeline to transfer water
from the retention dam on the farmer`s property to the Paardeberg East site.
Shareholders are advised that the loss per share for the year ended 30 June 2005
is likely to be between 1.80 and 1.85 cents per share as compared with the
earnings per share for the year ended 30 June 2004 of 0.42 cents per share.
(Shareholders should note that the 2004 earnings incorporated a write-back to
the income statement of R7.2 million as a result of the cancellation of
preference shares.)
The headline loss per share for the period is expected to be approximately 1.30
cents per share as compared with last year`s headline loss of 1.28 cents per
share.
Diamond Core`s actual results for the year ended 30 June 2005 are expected to be
released in the week commencing 26 September 2005.
The financial information on which this trading statement is based has not been
reviewed or reported on by the company`s auditors.
9 September 2005
Hyde Park
Sponsor to Diamond Core
QuestCo (Pty) Limited
Date: 09/09/2005 02:30:02 PM
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
