SACMH interim results June 2013

Turnover for the interim period plummeted to R7.6 million (R135.7 million). Gross profit decreased to R1.7 million (R8.4 million). Operating loss before finance costs and taxation increased to R59.7 million (loss of R33.0 million). Loss attributable to equity holders widened to R63.6 million (R35.5 million). In addition, headline loss per share was greater at 14cps (loss of 8cps).

Until such stage as approval of the WULA for the Voorslag reserve at Umlabu Colliery is received, operations will remain suspended. The Group is actively pursuing opportunities to lease its logistical and its infrastructural assets to third parties in the interim to offset the costs of Care and Maintenance.

No commitment has been received from the DMR with regard to finalisation of the WULA.

2013-09-26 15:33:33