PAM
PAM
Palabora Mining Company Limited - Trading Update
PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number - 1956/002134/06
JSE Code: PAM & ISIN: ZAE000005245
("Palabora" or "the Company")
TRADING UPDATE
Shareholders are advised that management"s expectation for the Company"s
earnings for the six months ended 30 June 2006 is as follows:
Basic earnings between R300 million (900 cents per share) and R250 million (750
cents per share).
Headline earnings between R312 million (960 cents per share) and R260 million
(800 cents per share).
This compares to basic and headline losses of R211 million (746 cents per share)
and R209 million (737 cents per share) respectively in the prior comparative
period.
The difference between basic and headline earnings is attributable to an
impairment charge of the ZBS plant, and profit on sale of fixed assets.
Shareholders are also advised that the financial information relating to the six
months ended 30 June 2006 has not been reviewed and/or reported on by the
Company"s auditors. It is anticipated that the results for the six months ended
30 June 2006 will be published on or about 1 August 2006.
Convertible Debentures
As announced via SENS on 13 July 2006, debenture holders have until Friday, 21
July 2006 to issue a conversion notice to convert their debentures into ordinary
shares in the Company. To date, 53,018 debentures have been converted resulting
in the issue of 1,767,267 ordinary shares and currently a further 61,000
debentures will be converted during August 2006.
Johannesburg
18 July 2006
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 18/07/2006 09:54:06 AM Produced by the JSE SENS Department
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