Go Back Email this Link to a friend

KEATON ENERGY HOLDINGS LIMITED - Keaton Energy Q3 production update

Release Date: 18/01/2017 08:30:00      Code(s): KEH     
Keaton Energy Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
JSE code: KEH
ISIN code: ZAE000117420
('Keaton' or the ?Company?)

Keaton Energy Q3 production update

Keaton Energy has released the following production update for the quarter ended 31 December

The safety performance at Vanggatfontein improved from a LTIFR of 0.46 in Q2 FY17 to a LTIFR of 0.31
in Q3 FY17. Vaalkrantz reported a LTIFR of zero (Q2 FY17: zero), although it remains on care and

Vanggatfontein achieved record cash generation from operations in December and a consistent third
quarter with Eskom thermal coal sales of 531 386t (Q3 FY16: 544 237t). The production of 5-seam
metallurgical coal was stopped during the quarter (Q3 FY16 sales: 18 456t) due to poor market
conditions with more profitable alternatives for utilising the 5-seam plant initiated, including the
commencement of a 12-month toll washing contract. Toll washed product totalled 69 513t (Q3 FY16:
zero) and discard, slurry and associated sales were 224 879t (Q3 FY16: 49 618t).

Vaalkrantz remains on care and maintenance awaiting Section 11 Ministerial Consent for its sale.
Mandi Glad, Keaton CEO, said ?Section 11 consent was applied for on 9 May 2016. It is disappointing
to note that this has still not been granted notwithstanding the new owner?s commitment and ability
to re-open the colliery and generate much-needed employment opportunities in an already deprived

Glad added "As is usual, our long life Vanggatfontein colliery has performed consistently and continues
to generate excellent production and cash flow numbers. Growth via the adjacent Moabsvelden
remote pit remains a high priority for the group in the short term.?

17 January 2017

Investec Bank Limited

Date: 18/01/2017 08:30:00 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
© 2018 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.