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Production and Cost Guidance for the Quarter Ended 30 June 2015
Sibanye Gold Limited
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye” or “the Company”)
Production and Cost Guidance for the Quarter Ended 30 June 2015
Westonaria 16 July 2015: Sibanye (JSE: SGL & NYSE: SBGL) advises shareholders that it
will report a significantly improved operating result for June 2015 quarter, compared
with that of the March 2015 quarter. As indicated in the operating update released
on 4 May 2015, the operational events which negatively affected production during
the first two months of the year were largely resolved by the end of the March 2015
quarter.
The June 2015 quarter operating result is in line with forecast. Gold production of
12,396kg (398,500oz) is 26% higher than gold production for the March 2015 quarter
and 5% higher than for the comparable quarter in 2014. Total cash cost for the
quarter will be approximately R336,000/kg (US$865/oz) and All–in cost,
approximately R416,000/kg (US$1,070/oz) respectively 13% and 12% lower than for
the March 2015 quarter.
Despite ongoing disruptions from loadshedding, the Kloof, Driefontein and Beatrix
operations produced 10,917kg (351,000oz) of gold for the quarter, which is only
marginally lower than gold production in the same period of 2014. The Cooke
Operation contributed 1,479kg (47,550oz) of gold for the quarter, 8% higher than for
the March 2015 quarter. The Cooke Operation produced approximately 88,000lbs of
uranium for the six-months ended 30 June 2015.
Gold production for the six months ended 30 June 2015 will be approximately
22,200kg (713,750oz), with Total cash cost of approximately R358,000/kg (US$935/oz),
All-in Sustaining cost of approximately R435,000/kg (US$1,138/oz) and All-in cost of
approximately R442,000/kg (US$1,156/oz). Costs are slightly higher than the average
costs forecast for the year, due to the relative underperformance during the March
2015 quarter.
Gold production for South African gold producers is seasonally higher in the second
half of the calendar year due to relatively fewer public holidays compared with the
first half of the year. Assuming normal operations for the remainder of the year, gold
production guidance for the year ending 31 December 2015 is therefore
unchanged.
Sibanye will be releasing its financial and operating results for the quarter and six-
months ended 30 June 2015 on Thursday, 6 August 2015. Please refer to
http://www.sibanyegold.co.za for dial-in and webcast information.
ENDS
Contact
James Wellsted
Head of Investor Relations
Sibanye Gold Limited
+27 83 453 4014
james.wellsted@sibanyegold.co.za
Sponsor:
J.P. Morgan Equities South Africa (Proprietary) Ltd
FORWARD LOOKING STATEMENTS
Certain statements in this document constitute “forward looking statements” within
the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the
US Securities Exchange Act of 1934.
These forward-looking statements, including, among others, those relating to
Sibanye’s future business prospects, revenues and income, wherever they may
occur in this document and the exhibits to this document, are necessarily estimates
reflecting the best judgment of the senior management of Sibanye and involve a
number of known and unknown risks and uncertainties that could cause actual
results, performance or achievements of the Group to differ materially from those
suggested by the forward-looking statements. As a consequence, these forward
looking statements should be considered in light of various important factors,
including those set forth in this document. Important factors that could cause the
actual results to differ materially from estimates or projections contained in the
forward looking statements include without limitation: economic, business, political
and social conditions in South Africa and elsewhere; changes in assumptions
underlying Sibanye’s estimation of its current mineral reserves and resources; the
ability to achieve anticipated efficiencies and other cost savings in connection with
past and future acquisitions as well as existing operations; the success of exploration
and development activities; changes in the market price of gold and/or uranium;
the occurrence of hazards associated with underground and surface gold and
uranium mining; the occurrence of labour disruptions and industrial action; the
availability, terms and deployment of capital or credit; changes in government
regulations, particularly environmental regulations and new legislation affecting
water, mining and mineral rights, including any interpretations thereof which may be
subject to dispute; the outcome and consequence of any potential or pending
litigation or regulatory proceedings or other environmental, health and safety issues;
power disruptions and cost increases; fluctuations in exchange rates, currency
devaluations, inflation and other macro-economic monetary policies; the
occurrence of temporary stoppages of mines for safety incidents and unplanned
maintenance; Sibanye’s ability to hire and retain senior management or sufficient
technically skilled employees, as well as its ability to achieve sufficient representation
of historically disadvantaged South Africans in its management positions; failure of
Sibanye’s information technology and communications systems; the adequacy of
Sibanye’s insurance coverage; any social unrest, sickness or natural or man-made
disaster at informal settlements in the vicinity of some of Sibanye’s operations; and
the impact of HIV, tuberculosis and other contagious diseases. These forward looking
statements speak only as of the date of this document.
The Group undertakes no obligation to update publicly or release any revisions to
these forward looking statements to reflect events or circumstances after the date
of this document or to reflect the occurrence of unanticipated events.
Date: 16/07/2015 09:17:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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