MIRANDA MINERAL HOLDINGS LIMITED - Trading Statement

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

Miranda is in the process of finalising its financial results for the
year ending 31 August 2012 and wishes to advise shareholders that when
compared to the previously published results for the year ended 31
August 2011, the Net Asset Value per share for the year ending 31
August 2012 decreased from 4.38 cents per share (“cps”) to (2.53) cps,
and the Net Tangible Asset Value per share for the year ending 31
August 2012 decreased from (7.58) cps to (10.05) cps.

In prior years the provision for rehabilitation was recorded using the
value of the rehabilitation guarantee required by the Department of
Mineral Resources. This amount required was determined based on
expected levels of mining activities. To date, only site establishment
has occurred resulting in a decreased estimated rehabilitation
liability. As a result, the comparative figures will be restated to
reflect the correct provision liability. As the restatement only
affects tangible net asset value, a restatement is only required on the
consolidated statements of financial position. Accordingly, had the
restated figure for 2011 been compared to the figure for 2012 the Net
Tangible Asset Value decreased from (4.34) to (10.05)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 condensed reviewed provisional results for the year
ending 31 August 2012 are expected to be released during November.

Centurion

6 November 2012
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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