PETMIN LIMITED - Quarterly Update (Q1 FY2015 - Quarter ended 30 September 2014)

Quarterly Update (Q1 FY2015 - Quarter ended 30 September 2014)

PETMIN LIMITED 
Incorporated in the Republic of South Africa 
Registration Number 1972/001062/06 
Share Code JSE: PET & ISIN: ZAE000076014 
 
("Petmin" or the "Company") 

PETMIN LIMITED - QUARTERLY UPDATE (Q1 FY2015 - Quarter ended 30 September 2014)

To facilitate enhanced communication with the market, Petmin will in future publish quarterly 
updates. 

SOMKHELE ANTHRACITE MINE

Management continues to focus on safety and productivity improvements in order to reduce costs 
and maximize production.

During the Quarter, Somkhele has maintained its exemplary safety record with a lost time injury 
frequency rate of zero and the production cost per tonne ("ex-mine gate") reduced by 7% as 
outlined in the table below.


Key Information Table:

Description                              Quarter ended        Quarter ended 
                                         September 2014       September 2013     % Change

Anthracite tonnes produced                   340 010               274 677            24%
Anthracite tonnes sold                       276 396               203 968            36%

Energy coal tonnes produced                   81 128                62 601            30%
Energy coal tonnes sold                      152 592                    -             n/a

Average cost at mine gate - Anthracite           677                   729            -7%


Production of metallurgical anthracite increased by 24% to 340,010 tonnes (2013: 274 677 tonnes). 
Sales volumes increased by a pleasing 36% to 276,396 tonnes (2013: 203,968 tonnes) as demand 
for our products remains steady.

Energy coal production increased by 30% to 81,128 tonnes for the quarter (2013: 62,601 tonnes). 
Demand for this product has been strong, with 152,592 tonnes sold in the quarter (2013: nil).

While sales volumes have improved in 2014, anthracite sales prices remain under pressure. Export 
prices were some 15% lower than in 2013 and average inland prices reduced by 3%.

Sales commitments have been received for 1 million tonnes of an estimated 1.2 million tonnes of 
anthracite production for the year ending 30 June 2015.

Sales commitments have been received for all of the estimated 400,000 tonnes of energy coal 
production for the year ending 30 June 2015.


NORTH ATLANTIC IRON CORPORATION (NAIC) PROJECT UPDATE

Following the successful conclusion of the preliminary economic assessment (PEA), NAIC has 
identified two sites from a short list of thirteen, one in in USA and one in Canada, both located on 
the Great Lakes and has appointed Hatch Engineering to undertake the final site selection 
comparative economic analysis, which includes all fiscal related incentives available for each site.

The site specific pre-feasibility study (PFS) will commence immediately upon the final site being 
selected.

The unbundling and separate listing of NAIC remains on track and the distribution of the dividend 
in specie with an estimated value of 50 cents per Petmin share remains scheduled for June 2015.

DIVIDEND

As announced on 11 September 2014, the dividend of 3 cents per share, declared out of income for 
the year ended 30 June 2014, will be paid on 24 November 2014. The dividend is subject to a local 
dividend withholding tax ("DWT") of 15%. The net local dividend after DWT is 2.55 cents per 
share.

NEW BUSINESS

Petmin continues to evaluate investment opportunities in thermal coal and other projects that meet 
Petmin's investment criteria and in particular are reviewing opportunities that are cash producing 
and or near cash. 

This update and SENS announcement has not been reviewed or audited by the Company`s auditors.

Enquiries:
Petmin
Bradley Doig +27 824 597 818
www.petmin.co.za

Johannesburg
10 November 2014
JSE Sponsor and Corporate Adviser
River Group
Andrew Lianos +27 834 408 365




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