Sibanye 2013 production above guidance
JOHANNESBURG (miningweekly.com) – JSE- and NYSE-listed Sibanye Gold on Friday reported that the group’s gold production and all-in costs for the year ended December 31 would be significantly better than the guidance provided in May 2013.
Gold production for the year would be about 1.43-million ounces, or 44 500 kg, as opposed to the guidance of 1.29-million ounces, or 40 000 kg, while all-in costs were expected to be R355 000/kg, as opposed to higher than R380 000/kg as initially expected.
Sibanye further said its production for the three months ended December would amount to about 12 000 kg, or 386 000 oz, of gold, which was 2% higher than guidance given on October 31.
Average all-in costs for the quarter were expected to be about R334 000/kg, or $1 050/oz, which was 6% lower than guidance in rand terms and 9% lower in dollar terms.
Meanwhile, headline earnings per share (HEPS) for the six months ended December were expected to be between 187c and 197c a share, based on an estimated 734.4-million weighted average ordinary shares in issue during the six month period.
Earnings per share (EPS) for the year ended December were expected to be between 255cand 265c, while HEPS for the full-year were expected to be between 350c and 360c.
Sibanye stated that the increase in HEPS and EPS for the six months ended December was attributable to the higher production and lower costs achieved, a marginally higher realised rand gold price and an adjustment to the deferred tax rate.
Sibanye would release its operational and financial results on February 20.
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