Sentula narrows H1 headline loss, but basic loss widens
JOHANNESBURG (miningweekly.com) – JSE-listed Sentula Mining expects to report a widened loss a share but a narrowed headline loss a share when it publishes its results for the six months ended December 31.
In a trading update, Sentula, which had changed its year-end from March 31 to June 30, said its first-half loss a share was expected to be between 7.20c and 7.60c, a 32% to 38% widening on the 5.50c a share loss reported for the six months ended September 30, 2015.
The company’s headline loss a share, however, is expected to narrow some 25% to 32% to between 3.80c and 4.20c in the first half under review, compared with the loss of 5.59c apiece in the six months to September 2015.
Sentula’s basic loss a share and headline loss a share from continuing operations is expected to be a respective 0.80c and 0.17c, improving from the 1.26c and 1.42c respectively reported in the prior six-month period under review.
When the company publishes its financial results for the period under review on March 31, it also expects to report increased anthracite production at its Nkomati anthracite mine; a further reduction in corporate head office costs; exploration drilling operations returning to profitability; and further wind-down of opencast mining operations through the closure of Classic Challenge Trading.
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