Sibanye FY gold output to exceed guidance
JOHANNESBURG (miningweekly.com) – JSE- and NYSE-listed Sibanye Gold expects to post a marginal 2% increase in gold production to an above-guidance 386 000 oz for the last three months of 2013, when it releases its final operating and financial report on the quarter and year ended December 31 later this month.
Gold production for the year ended was expected to come in at around 1.43-million ounces, with average all-in costs of about $1 150/oz.
“This is significantly better than [the] guidance provided in May of 1.29-million ounces for the year and average all-in costs higher than R380 000/kg,” the miner said on Tuesday.
Average all-in costs for the quarter were expected to be about $1 050/oz – some 6% lower than guidance in rand terms and 9% lower in dollar terms.
Earnings per share (EPS) and headline earnings per share (HEPS) for the six months were expected to be between 187c and 197c, based on an estimated 734.4-million weighted average ordinary shares in issue during the six months ended December 31.
EPS for the year were expected to be between 255c and 265c, and HEPS between 350c and 360c, based on 650.6-million weighted average ordinary shares in issue during the 12 months.
The increase in EPS and HEPS for the six months 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.
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