WEZ - Wesizwe Platinum Limited - Trading Statement

WEZ - Wesizwe Platinum Limited - Trading Statement                              
WESIZWE PLATINUM LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2003/020161/06)                                           
JSE code: WEZ ISIN: ZAE000075859                                                
(the "Company" or "Wesizwe")                                                    
TRADING STATEMENT                                                               
In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE     
Limited, companies are required to inform shareholders as soon as there is a    
reasonable degree of certainty that the earnings of the company are likely to   
vary by more than 20% compared to the previous corresponding period.            
The Board of Directors therefore wishes to advise shareholders that the Company 
expects to report a basic loss per share attributable to ordinary shareholders  
for the six months ended 30 June 2011 of between 33 cents and 39 cents per share
compared to a basic earnings per share of 50.47 cents for the previous          
comparable period.                                                              
The change from basic earnings in June 2010 to a basic loss in June 2011 is as a
result of a once-off share-based payment expense of R406.6 million recognised in
the Statement of Comprehensive Income according to IFRS 2.                      
The share-based payment expense arose as a result of the subscription of 829 884
460 new shares by Jinchuan, Cadfund and Micawber in Wesizwe on 4 May 2011 at an 
effective subscription price of R1.81 per share, compared to a market price of  
R2.30 per share on the date of closure.                                         
If the impact of share-based payment expense was to be excluded, the Company    
would have achieved a basic earnings per share of between  1.00 cents and  1.50 
cents per share.                                                                
A headline loss per share attributable to ordinary shareholders for the year    
ended 30 June 2011 is expected to be between 33 cents per share and 39 cents per
share compared to a headline loss per share of 6.52 cents for the previous      
comparable period.                                                              
The financial information included in this trading statement has not been       
reviewed and reported on by the Company`s external auditors.                    
The results for the half year ended 30 June 2011 will be released on SENS on or 
about 27 September 2011.                                                        
Johannesburg                                                                    
8 September 2011                                                                
Sponsor:                                                                        
Investec Bank Limited                                                           
Date: 08/09/2011 15:59:02 Supplied by www.sharenet.co.za                     
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