SENS Note - 01 November 2012

Infrasors Trading statement - August 2012

 

Infrasors Holdings Limited

(Incorporated in the Republic of South Africa)

(Registration number: 2007/002405/06)

Share Code on the JSE: IRA ISIN: ZAE000101507

("Infrasors" or "the Company")

 

 

TRADING OVERVIEW

To improve its cost base, efficiency and market opportunities, Infrasors has reviewed its current age, capacity and related maintenance costs of the beneficiation plant at its Lyttelton Centurion mine. This has resulted in a strategy for improving efficiencies and capacities on the back of having received its new order mining right and expanded reserve approval as published previously on SENS on the 16th of August 2012.

To address the declining deposit at the Delf Sand mine, Infrasors is vigorously pursuing procurement of the remaining regulatory approvals for its greenfields Delf Cullinan alluvial silica deposit, being the replacement silica deposit, which would positively affect mining and beneficiation costs once commissioned.

 

TRADING STATEMENT

In terms of the JSE Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied with a reasonable degree of certainty that the financial results of the period to be reported upon will differ by 20% or more from the financial results of the previous corresponding period.

Accordingly, Infrasors shareholders are advised that:

- Headline earnings per share (“HEPS”) for the six month period ended 31 August 2012 are expected to decrease to between 0.6 cents per share and 1.0 cent per share, compared to the 4.4 cents per share of the corresponding period; and

- Basic earnings per share (“EPS”) for the six month period ended 31 August 2012 are expected to decrease to between 0.6 cents per share and 1.0 cents per share, compared to the 4.4 cents per share of the corresponding period.

 

The financial information on which this trading statement is based has not been reviewed, audited and reported on by the Company’s auditors.

 

Shareholders are advised that the results for the six month period ended 31 August 2012 will be released mid November 2012.

 

By Order of the Board of Directors

 

Johannesburg

1 November 2012

 

Sponsor

Sasfin Capital (a division of Sasfin Bank Limited)

 

Date: 01/11/2012 12:14:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.