SENS Note - 05 November 2010

Infrasors interim result 31 August 2010

Revenue increased from R109 million to R125 million in 2010. Profit before taxation increased to R11.1 million (August 2009: R10.5 million). Profit attributable to ordinary shareholders increased to R7.6 million (August 2009: R7.3 million). Headline earnings per share increased to 4.4cps (August 2009: 4.2cps).

Dividends per share

No interim dividend was declared for the period under review.

Outlook

Infrasors is a mining resources company, which mines and produces a spread of base minerals for the industrial, metallurgical, mining and construction sectors. As such, the volumes are dependent on overall demand within each sector. The construction market is being constrained by slow implementation of Government infrastructural projects and the economic downturn. A slight return of confidence has been experienced in the markets with the exception of the foundry industry which appears to be lagging. The Company continues to look at ways to augment its business profile to boost its growth and profitability. Included in this strategy is the spread in geographical footprint of Delf Silica. Overall demand for its products is expected to remain consistent over the next six months as the South African industry continues to claw itself out of recession. Key clients in manufacturing base metals industry are expected to gradually increase their demands which will be beneficial for our supplies to the foundry industry. The construction market over the next six months is expected to remain under pressure and should improve upon implementation of the Government infrastructure development projects in the medium term.