MVL - Mvelaphanda Resources Limited - Trading Stat
MVL
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 reporting period. In
light of the aforementioned requirements, shareholders are advised that the
Mvelaphanda Resources Limited group ("the group") expects a basic and
headline loss per share of between 590 cents and 610 cents for the six
months ended 31 December 2006. In the comparative six month period ended 31
December 2005, the group reported basic and headline earnings per share of
562 cents and 622 cents respectively. The decrease in expected earnings per
share is primarily attributable to the unrealised fair value adjustment
arising from the revaluation of the group`s investment in Gold Fields South
Africa. The main driver of this negative adjustment has been an approximate
18% decrease in the share price of Gold Fields from R162,00 at 30 June 2006
to R132,75 at 31 December 2006. This fair value adjustment has no impact on
the group`s cash flows.
Shareholders are advised that this trading statement is based on
preliminary information that has not yet been reviewed by the group`s
external auditors.
In compliance with the Listings Requirements of the JSE Limited, the
interim financial results will be reported in accordance with International
Financial Reporting Standards ("IFRS"). The group`s interim results are
expected to be released on 15 February 2007.
ENDS
Johannesburg
7 February 2007
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 07/02/2007 15:11:01 Produced by the JSE SENS Department.
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