BAU - Bauba Platinum Limited - Updated Trading Statement

BAU - Bauba Platinum Limited - Updated Trading Statement                        
BAUBA PLATINUM LIMITED                                                          
(formerly Absolute Holdings Limited)                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1986/004649/06)                                            
Share code: BAU    ISIN No: ZAE000145686                                        
("Bauba" or "the Company")                                                      
UPDATED TRADING STATEMENT                                                       
In terms of paragraph 3.4(b) of the JSE Limited`s Listings Requirements, a      
listed company is required to publish a trading statement as soon as it is      
satisfied that a reasonable degree of certainty exists that the financial       
results for the period to be reported upon next will differ, by at least 20%,   
from the financial results for the corresponding period in the prior year.      
Accordingly, Bauba shareholders are referred to the trading statement dated 30  
March 2011, wherein they were informed that Bauba expected an increase in the   
loss per share.                                                                 
The Company is currently finalising its financial results for the half year     
ended 31 December 2010 including the accounting treatment of the Bauba Project  
acquisition.                                                                    
Shareholders are advised that the company anticipates that it will report a loss
on basic earnings per share between 70% and 80% greater than the loss of 19c per
share reported for the half year ended 31 December 2009. The loss on headline   
earnings per share will be between 70% and 80% greater than the headline loss of
19c per share reported for the half year ended 31 December 2009.                
The increased loss is mainly as a result of the acquisition expense of the      
reverse asset acquisition transaction and a lower fair value ascribed to the    
assets held for sale in the consolidated group                                  
The financial information on which this trading statement is based has not been 
reviewed or reported on by the company`s auditors.                              
The Company expects to announce these results on SENS on or about 15 April 2011.
Johannesburg                                                                    
15 April 2011                                                                   
Sponsor                                                                         
Arcay Moela Sponsors (Proprietary) Limited                                      
Date: 15/04/2011 13:26:01 Supplied by www.sharenet.co.za                     
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