MANTENGU MINING LIMITED - Trading Statement

Trading Statement

MANTENGU MINING LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1987/004821/06)
Share code: MTU    ISIN: ZAE000320347
(“Mantengu” or “the Group”)


TRADING STATEMENT


In terms of paragraph 3.4(b) of the Listings Requirements of JSE Limited, 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 that of the previous corresponding period.

Mantengu previously communicated Company results to the market for the year ended 28 February 2022.
On 27 July 2022, Mantengu acquired 100% of the issued share capital of Langpan Mining Co Proprietary
Limited (“Langpan”), obtaining control of Langpan and will therefore, be reporting Company and Group
financial results going forward. As the Langpan transaction has been accounted for as a reverse takeover
in accordance with IFRS 3, paragraph B19, Mantengu will present the Group 2022 financial results under
the reverse takeover principles dictated by IFRS 3 paragraph B21 and B22.

Accordingly, a review by management of the financial results for the year ended 28 February 2023 has
indicated that:

-   the Company’s basic and headline loss per share is expected to be between 6 cents per share and
    8 cents per share, reflecting an improvement of between 99.3% and 99.1%, compared to the
    Company’s basic and headline loss per share of 908 cents for the year ended 28 February 2022 (as
    adjusted for the consolidation of the authorised and issued ordinary share capital of Mantengu on a
    1 000 to 1 basis as detailed in announcements released on SENS on 10 March 2023 and 31 March
    2023); and

-   the Group basic and headline loss per share is expected to be between 11.40 cents per share and
    12.60 cents per share, compared to the Group’s basic and headline earnings per share of 6 cents for
    the year ended 28 February 2022 (as adjusted for the consolidation of the authorised and issued
    ordinary share capital of Mantengu on a 1 000 to 1 basis as detailed in the announcements released
    on SENS on 10 March 2023 and 31 March 2023).

The financial information on which this trading statement is based has not been reviewed or reported on
by the Company’s auditors. Mantengu's audited financial results are expected to be released on SENS
on or about 14 June 2023.

Johannesburg
13 June 2023


Designated Advisor
Merchantec Capital

Date: 13-06-2023 10:25:00
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.