PALLINGHURST RESOURCES LIMITED - Trading statement

Trading statement

PALLINGHURST RESOURCES LIMITED
(Incorporated in Guernsey)
(Guernsey registration Number: 47656)
(South African external company registration number 2009/012636/10)
Share code on the BSX: PALLRES ISIN: GG00B27Y8Z93
Share code on the JSE: PGL
("Pallinghurst" or the "Company")

                                   Pallinghurst trading statement

Pallinghurst is reasonably certain that its net profit after tax will be US$45 million for the year ended 31
December 2016 compared to a net loss after tax of US$149 million for the year ended 31 December 2015, an
increase of 130%. In ZAR terms net profit after tax will be ZAR656 million (ZAR1.9 billion net loss after tax for the
comparative period), an increase of 135%.

The earnings and headline earnings per share is expected to be USc 6.0 for the year ended 31 December 2016
compared to a loss and headline loss per share of USc 20.0 for the year ended 31 December 2015. In ZAR terms
earnings and headline earnings per share will be ZAR0.86 (ZAR2.50 loss and headline loss per share for the
comparative period).

Net Asset Value (“NAV”):             US$367 million (2015: US$322 million)
NAV Per Share:                       US$0.48 (2015: US$0.42) an increase of 14%.

The financial information on which this trading statement is based has not been reviewed or reported on by
Pallinghurst’s auditors. Pallinghurst’s financial results for the year ended 31 December 2016 are expected to be
released on SENS on 28 March 2017.



Guernsey
22 March 2017

Sponsor
Investec Bank Limited

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