MVL
MVL
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
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, shareholders are advised that Mvelaphanda Resources Limited
("Mvela Resources" or "the Company") expects headline earnings per share to be
between 600 cents and 640 cents and basic earnings per share of between 540
cents and 580 cents for the six-month period ended 31 December 2005. This
compares with a reported headline loss per share of 208 cents and a reported
basic loss per share of 205 cents for the comparable period ending 31 December
2004.
The increase in expected earnings is primarily attributable to fair value
adjustments to Mvela Resources" investment in Gold Fields, which resulted in a
significant net unrealised gain. The main driver of this net unrealised gain has
been an approximate 45% increase in the Gold Fields share price during the six-
month period, arising from the higher dollar gold price and admirable strategic
and operational delivery by Gold Fields.
Shareholders are advised that this trading statement is based on preliminary
information that has not yet been reviewed by Mvela Resources" external
auditors. In compliance with the listing requirements of the JSE Limited, the
financial results of the Company for the six-month period to 31 December 2005
will be reported in accordance with International Financial Reporting Standards
("IFRS") and the results for the prior period will be restated on the same
basis.
The Company"s results for the six months ended 31 December 2005 are expected to
be released on or about 23 February 2006.
ENDS
Johannesburg
16 February 2006
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 16/02/2006 02:16:03 PM Produced by the JSE SENS Department
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