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Keaton Energy Holdings Limited - Keaton Energy Releases Q3 Production Update

Release Date: 15/01/2016 12:30:00      Code(s): KEH     
KEATON ENERGY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
JSE share code: KEH ISIN: ZAE000117420
(?Keaton Energy? or ?the Company?)


Keaton Energy releases Q3 production update


Keaton Energy has released the following production report for the quarter ended 31 December
2015.

The safety performance at both collieries improved with Vanggatfontein reporting a LTIFR of 0.19
(Q2 FY16: 0.38) and Vaalkrantz a LTIFR of 0.10 (Q2 FY16: 0.17). Zero harm remains our goal.

Vanggatfontein had a record third quarter in terms of Eskom thermal coal production with 544 237t
being delivered (Q3 FY2015: 540 127t). 5-seam metallurgical coal sales were down 40% at 18 456t
(Q3 FY2015: 30 897t) in line with the geological model. No B-grade coal was produced due to poor
market conditions and discard and slurry sales were negligible.

As has been announced previously, Vaalkrantz is now classified as an ?asset held for sale?. During
the quarter local anthracite sales at Vaalkrantz decreased 71% to 10 457t (Q3 FY15: 36 249t), and
export sales were down 19% to 18 600t (Q3 FY15: 23 100t). 32% ash product sales improved,
increasing 86% to 37 700t (Q3 FY15: 20 313t).

Mandi Glad, Keaton CEO, said ?Yet again, our long life Vanggatfontein colliery has performed
consistently and continues to generate excellent production and cash flow numbers. Our troubled
Natal operations are in the process of being sold but despite this achieved an improved safety
performance over the last quarter. The coal sector is highly stressed but the soon to be streamlined
Keaton is positioned to ride out the storm.?



The above information has not been reported on or reviewed by the Company?s auditors.
Johannesburg


15 January 2016
Sponsor
Investec Bank Limited

Date: 15/01/2016 12:30:00 Supplied by www.sharenet.co.za                     
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