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Wescoal Holdings Limited - Operational And Trading Update

Release Date: 11/10/2013 09:56:00      Code(s): WSL     
Wescoal Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/006913/06)
(JSE code: WSL ISIN: ZAE000069639)
(?Wescoal? or ?the company?)



Operational and trading update


1)      Operational update

Wescoal Mining has produced 895 185 tons of coal for the six months ended 30 September
2013, a 39% increase compared to the prior period (2012: 643 486 tons). The Trading division
sold 217 831 tons for the six months ended 30 September 2013, a 13% decrease compared to
the prior period (2012: 250 127). The Intibane Colliery is now fully operational and management
is confident that current production volumes can be maintained for the next six months.


2)      Trading update

In terms of paragraph 3.4 (b) of the JSE Limited ("JSE") Listings Requirements, companies are
required to publish a trading statement as soon as they become reasonably certain that the
financial results for the period to be reported on will differ by more than 20% from the previous
corresponding period.

Accordingly, a review of the financial results for the six months ended 30 September 2013 by
management has indicated that the earnings per share and headline earnings per share are
expected to increase by more than 20% when compared to those reported for the previous
corresponding period. At this time, Wescoal is unable to quantify, with reasonable certainty, the
expected headline earnings per share ("HEPS") or earnings per share ("EPS") for the six months
ended 30 September 2013.

A further trading statement will be published once the company has more certainty with regards
to its financial results for the six months ended 30 September 2013.

The financial information on which this trading statement is based has not been reviewed or
reported on by Wescoal`s auditors. The Company`s financial results for the six months ended 30
September 2013 are expected to be released on 4 November 2013.



Johannesburg
11 October 2013

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Date: 11/10/2013 09:56:00 Supplied by www.sharenet.co.za                     
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