Go Back Email this Link to a friend


Keaton Energy Holdings Limited - Keaton Energys First Half-year Production Update

Release Date: 14/10/2016 12:05:00      Code(s): KEH     
Keaton Energy Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
Share code: KEH
ISIN code: ZAE000117420
(?the Company?)


Keaton Energy?s First Half-Year Production Update

Keaton Energy has released the following first half production update for the half year ended 30 September
2016.

Vanggatfontein reported a LTIFR of 0.46 (1H FY2016: 0.38). This disappointing performance is the subject of
increased management scrutiny.

Production was consistent and according to plan. Some 1.139Mt of washed 2- and 4-Seam thermal coal was
delivered to Eskom (1H FY2016: 1.192Mt). This decrease of 52 372t (4%) was due largely to reception
constraints at Eskom preventing delivery of all production in the period.

5-Seam metallurgical coal sales decreased 36% over the comparable period to 35 961t from 56 156t in line with
the geological model. Spare capacity within the 5-Seam plant was used for additional Eskom production as
before. Production of B-grade coal was also discontinued for this purpose (1H FY2016: 25 951t). Discard and
slurry sales were 242 415t (1H FY2016: 17 704t).

Vaalkrantz Colliery in KZN remains on care and maintenance as section 11 Ministerial Consent for its sale is still
awaited.

Mandi Glad, Keaton CEO, said ?It is pleasing to report yet another solid quarter?s production at Vanggatfontein,
although the deterioration in safety performance is a concern.? She added, ?The recent grant of a water use
licence for the Moabsvelden Project allows us to complete the preparation for its development. This fully
permitted addition to Vanggatfontein will see combined production rise to 4Mt per year of washed coal.?



Johannesburg
14 October 2016

Sponsor
Investec Bank Limited

Date: 14/10/2016 12:05:00 Supplied by www.sharenet.co.za                     
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.


                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2017 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.