MMH - Miranda Mineral Holdings Limited - Trading Statement

MMH - Miranda Mineral Holdings Limited - Trading Statement                      
Miranda Mineral Holdings Limited                                                
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/001940/06)                                            
Share code: MMH ISIN: ZAE000074019                                              
("Miranda" or "the Company")                                                    
TRADING STATEMENT                                                               
Shareholders are referred to the Reviewed Abridged Provisional Consolidated     
Financial Results for the year ended 31 August 2011, published on SENS on 30    
November 2011 ("the abridged results"). The Company has subsequently effected   
the following changes to its financial results for the above period:            
1.   Management reconsidered the valuation of the Group`s intangible assets and 
    decided to impair to a zero value the Turffontein clay and diamond asset,   
    previously carried at R22 million.                                          
2.   The contingent liability of R4.7 million related to a payroll related      
matter has now been recognised in the financial statements.                 
Accordingly, when compared to the abridged results:                             
1.   Net Asset Value per share for the year ending 31 August 2011 decreased from
    13.7 cents per share ("cps") to 4.4 cps; and                                
2.   Net Tangible Asset Value per share for the year ending 31 August 2011      
    decreased from (6.0) cps to (7.6) cps.                                      
    We confirm that the financial information on which this trading statement   
    is based has not been reviewed and reported on by the Group`s auditors and  
the final audited results for the year ending 31 August 2011 are expected   
    to be released shortly.                                                     
Centurion                                                                       
24 February 2012                                                                
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Date: 24/02/2012 16:52:01 Supplied by www.sharenet.co.za                     
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