MTX
MEMTX
Metorex Limited - Trading Update
METOREX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
JSE code: MTX
ISIN: ZAE000022745
Issuer code: MEMTX
(`the company")
TRADING UPDATE
Shareholders are advised that management"s expectation for the company"s
earnings for the year ended 30 June 2006 compared with those of the prior
comparative period, are as follows:
- EBITDA between R350 million and R400 million (30 June 2005 - R142 million).
- Basic earnings between 50 cps and 60 cps (30 June 2005 - 14.7 cps).
- Headline earnings between 43 cps and 51 cps (30 June 2005 - 13.6 cps).
The earnings for the current period have been calculated on a weighted average
of 287 million shares in issue compared with 204 million shares for the
comparable period. The additional shares were issued for the development of the
Ruashi project which has taken place during the year. Following its
commissioning in July, Ruashi will contribute to earnings during the forthcoming
financial year. The Ruashi Phase II bankable feasibility study and funding
arrangements are nearing completion, and the project development is being fast-
tracked.
Shareholders are advised that this financial information for the year ended 30
June 2006 has not been reviewed or reported on by the company"s auditors, and it
is anticipated that the results for the year ended 30 June 2006 will be
published on or about 23 August 2006.
Johannesburg
28 July 2006
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 28/07/2006 10:45:02 AM Produced by the JSE SENS Department
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