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Sibanye Gold issues trading statement

22nd July 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Sibanye Gold, which started trading on the JSE in February, said on Monday that it expected headline earnings a share (Heps) for the six months ended June 30 to be between 110c a share and 130c a share.

As a result of the Section 189 process at its Beatrix West mine, which could affect 1 110 jobs, and an impairment of these mining assets by some R591-million, earnings a share (EPS) for the period were expected to be between 35c a share and 45c a share.

These earnings ranges were based on 7.33-million shares in issue at June 30.

However, based on the lower weighted average number of shares in issue during the period of 5.66-million shares, Heps would be between 140c a share and 170c a share, and EPS would be between 40c a share and 60c a share.

The company earlier this year reported net earnings of R2.98-billion for the year ended December 31, 2012, marking a 16% increase in net earnings compared with that of the equivalent period in 2011.

The NYSE- and JSE-listed company will release its operating and financial results for six-month period on August 13.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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