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WSL - Wescoal Holdings Limited - Trading Statement

Release Date: 26/11/2009 10:12:01      Code(s): WSL
WSL - Wescoal Holdings Limited - Trading Statement                              
Wescoal Holdings Limited                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2005/006913/06)                                           
(JSE code: WSL & ISIN: ZAE000069639)                                            
("Wescoal" or "the company")                                                    
TRADING STATEMENT                                                               
In terms of the Listings Requirements of the JSE Limited, companies are required
to publish a trading statement as soon as they are satisfied that a reasonable  
degree of certainty exists that the financial results for the period to be      
reported on will differ by at least 20% or more from the financial results for  
the previous corresponding period.                                              
Shareholders are advised that Wescoal is currently finalising its results for   
the six months ended 30 September 2009. Wescoal`s earnings per share and        
headline earnings per share for the six month period are expected to be lower   
than that of the corresponding period:                                          
earnings per share are expected to decrease between 40% and 55%;                
headline earnings per share are expected to decrease between 60% and 75%.       
Trading conditions have remained depressed during the six month period despite  
the general bullish view on coal for the long term. Volumes are down in line    
with the national decline in manufacturing activity and increased competition   
from producers who traditionally favoured exports over local sales. Although    
inland pricing levels decreased, these decreases were not as severe as the      
reduced free on mine prices experienced by the export market.                   
No improvement in trading conditions are expected until the later half of 2010. 
However the mining division will be boosted by the Khanyisa mine acquisition.   
The financial information on which this trading statement is based has not been 
reviewed or reported on by the company`s auditors.  The company`s results for   
the six months ended 30 September 2009 are expected to be published on SENS by  
early December 2009.                                                            
26 November 2009                                                                
Designated Adviser                                                              
Exchange Sponsors                                                               
Date: 26/11/2009 10:12:01 Supplied by www.sharenet.co.za                     
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information disseminated through SENS.                                          

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