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 of between 1,600 cents and 1,700 cents and basic
earnings per share of between 1,550 cents and 1,650 cents for the year
ended 30 June 2006. This compares with reported headline earnings per share
of 91 cents and reported basic earnings per share of 86 cents for the
comparable period ended 30 June 2005.
The rise in expected earnings is primarily attributable to a significant
net unrealised gain in the fair value of Mvela Resources" investment in
Gold Fields. The main driver of this net unrealised gain has been an
approximate 113% increase in Gold Fields" share price during the financial
year.
Shareholders are advised that this trading statement is based on
preliminary information that has not yet been reviewed by Mvela Resources"s
external auditors.
In compliance with the listing requirements of the JSE Limited, the
financial results of the Company for the year ending 30 June 2006, will be
reported in accordance with International Financial Reporting Standards
("IFRS").
The Company"s results for the year ended 30 June 2006 are expected to be
released on 24 August 2006.
ENDS
Johannesburg
16 August 2006
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 16/08/2006 05:30:02 PM Produced by the JSE SENS Department
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