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Trading Statement
Sibanye Gold Limited
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye Gold”, “Sibanye” or “the Company”)
TRADING STATEMENT AND NOTICE OF RELEASE OF OPERATING AND
FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2015
Westonaria, 23 February 2016: Shareholders are advised that
profit attributable to shareholders of Sibanye Gold Limited
(“Sibanye” or the “Group”) (JSE: SGL AND NYSE: SBGL) is expected
to be between R675 million and R775 million for the year ended 31
December 2015. Profit attributable to shareholders for the year
ended 31 December 2014 was R1,552 million.
Despite an operational recovery through the year and a return to
profitability from the June 2015 quarter, profit attributable to
shareholders for the year ended 31 December 2015, was negatively
affected by the relatively poor March 2015 quarter and the Eskom
load shedding in the June 2015 quarter.
Moreover, the weighted average number of shares in issue
increased 9% year-on-year following the acquisition of the Cooke
Operations in 2014.
As a result of these factors, earnings per share ("EPS") and
headline earnings per share ("HEPS") for the year ended 31
December 2015 are expected to be between 74 cents and 85 cents,
and 70 cents and 81 cents respectively. EPS and HEPS for the year
ended 31 December 2014 were 186 cents and 170 cents,
respectively. This represents a decrease of between 60% and 54%
in respect of EPS and a decrease of between 59% and 52% in
respect of HEPS.
Normalised earnings for the year are expected to be between
R1,180 million and R1,280 million, compared with normalised
earnings of R2,258 million for the year ended 31 December 2014.
As mentioned in the operating update released on 1 February 2016,
the operational issues which affected the March 2015 quarter are
unlikely to be repeated and a much better operating result is
forecast for the year ending 31 December 2016. The prevailing
rand gold price is also significantly higher than the average
price of R475,508/kg for the year ended 31 December 2015, which,
should it remain at these levels, will significantly boost
earnings and cash flow.
The financial information, on which the trading statement has
been based, has not been reviewed or reported on by the Company’s
auditors.
NOTICE OF RELEASE OF OPERATING AND FINANCIAL RESULTS
Sibanye will release its operating and financial results for the
year ended 31 December 2015 on SENS at approximately 08:00 CAT on
Thursday 25 February 2015. Further details are available on the
company website: www.sibanyegold.co.za.
CONTACT
James Wellsted
SVP Investor Relations
Sibanye Gold Limited
+27 83 453 4014
james.wellsted@sibanyegold.co.za
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
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 and directors 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,
Zimbabwe 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 at existing operations; the ability of
Sibanye to successfully integrate acquired businesses and
operations (whether in the gold mining business or otherwise)
into its existing businesses; the success of Sibanye’s business
strategy, exploration and development activities; the ability of
Sibanye to comply with requirements that it operate in a
sustainable manner; changes in the market price of gold, platinum
group metals (“PGMs”) and/or uranium; the occurrence of hazards
associated with underground and surface gold, PGMs and uranium
mining; the occurrence of labour disruptions and industrial
action; the availability, terms and deployment of capital or
credit; changes in relevant government regulations, particularly
environmental, tax health and safety regulations and new
legislation affecting water, mining, mineral rights and business
ownership, 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,
constraints and cost increases; supply chain shortages and
increases in the price of production inputs; 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: 23/02/2016 11:36:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
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