PAM - Palabora Mining Company Limited - Trading up
PAM
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
As required by the JSE Listings Requirements, shareholders are advised that
Palabora`s earnings for the year ended 31 December 2006 are expected to be as
follows:
- Operating earnings between R1,065 million (2 944 cents per share) and
R1,277 million (3 529 cents per share).
- Basic earnings between R440 million (1 215 cents per share) and R527
million (1 456 cents per share).
- Headline earnings between R437 million (1 208 cents per share) and R524
million (1 449 cents per share).
- Cash and cash equivalents between R615 million and R737 million.
The above guidance compares with operating profit of R275 million (profit of 967
cents per share), basic, and headline loss of R93 million (loss of 328 cents per
share) and R97 million (loss of 339 cents per share) respectively for the prior
comparable period.
Palabora`s management believes that operating earnings provide a more meaningful
representation of the company`s earnings from ongoing operations and uses
operating earnings as the primary performance measure.
Included in the operating earnings figure is copper sold as concentrate
(reverts, low grade stockpiles and GSP (gas scrubbing plant), and revaluation of
the revert inventory. Operating earnings exclude finance costs, financing
foreign exchange gains and losses, and taxes.
It is anticipated that the unaudited preliminary results for the year ended 31
December 2006 will be published on or about 29 January 2007, at which stage
further details will be provided regarding the company`s performance.
Shareholders are advised that the information contained in this Trading Update
has not been reviewed and/or reported on by the external auditors.
Phalaborwa
23 January 2007
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 23/01/2007 08:12:01 Produced by the JSE SENS Department.
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
