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PET - Petmin Limited - Trading Update And Renewal Of Cautionary Announcement PETMIN LIMITED (Formerly Petra Mining Limited) Incorporated in the Republic of South Africa Registration Number 1972/001062/06 Share Code JSE: PET ISIN: ZAE000076014 Share Code AIM: PTMN ("Petmin", "the company" or "the group") TRADING UPDATE AND RENEWAL OF CAUTIONARY ANNOUNCEMENT Petmin Limited announces a trading update for the year ended 30 June 2008, in accordance with the JSE`s listing requirements, which stipulate that a company has to publish a trading statement if an increase or decrease of more than 20% (compared with the previous reporting period) in its basic earnings per share and headline earnings per share is expected. Shareholders of Petmin are hereby advised that headline earnings per share for the year ended 30 June 2008 are expected to be approximately 15 cents per share, up from 5.28 cents per share for the year ended 30 June 2007, an increase of 184%. This growth in headline earnings per share was achieved as a result of: - the anthracite division delivering increased production from the Somkhele Colliery which was successfully brought into production in June 2007; - an improved performance from the Springlake Colliery; and - a consistently good performance from the SamQuarz silica mine. Basic earnings per share for the year ending 30 June 2008 are expected to be greater than 70 cents per share, up 334% from 16.14 cents per share for the year ended 30 June 2007. The difference between the headline and basic earnings per share is due to the IFRS fair value valuation on acquisition of 25% of Veremo Holdings Limited ("Veremo"), resulting in a share of profit of equity accounted investee of R303 million being recognised. As previously announced, Veremo is a large scale iron ore mining and pig iron beneficiation project situated in the province of Mpumalanga. This trading statement and SENS announcement has not been reviewed or audited by the Company`s auditors. Further to the cautionary announcement dated 15 August 2008, shareholders are advised that negotiations are still in progress which, if successfully concluded, may have a material effect on the price of Petmin`s securities. Accordingly, shareholders are advised to continue exercising caution when dealing in the company`s securities until a further announcement is made. It is anticipated that a further announcement and Petmin`s results to 30 June 2008 will be published before 30 September 2008. Sponsor River Group For further information, please contact: Petmin Limited +27 82 459 7818 Bradley Doig, Chief Operating Officer Nominated Adviser Numis Securities Limited +44 20 7260 1000 John Harrison/Stuart Skinner UK Broker Numis Securities Limited +44 20 7260 1000 James Black RSA Public Relations Advisers Russell & Associates +27 11 880 3924 Shelagh Blackman UK Public Relations Advisers Parkgreen Communications +44 20 7933 8780 Sue Scott/Leah Kramer Date: 10/09/2008 11:00:02 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.
