RANDGOLD & EXPLORATION COMPANY LIMITED - Trading Statement

Release Date: 08/03/2018 14:05
Code(s): RNG
 
Wrap Text
Trading Statement

Randgold & Exploration Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1992/005642/06)
Share code: RNG
ISIN: ZAE000008819
(“R&E” or “the Company”)

TRADING STATEMENT

In terms of the Listings Requirements of the JSE Limited,
companies are required to publish a trading statement as soon
as they become reasonably certain that the financial results for
the period to be reported on next will differ by more than 20%
from those of the previous corresponding period.

Shareholders are hereby advised that a reasonable degree of
certainty exists that the Company expects to report:

  •   a loss per share of between 8.6 cents per share and 11.0
      cents per share, being a decrease in the loss per share of
      between 8.3% and 28.3% for the year ended 31 December 2017,
      compared to a loss per share of 12.12 cents for the year
      ended 31 December 2016; and

  •   a headline loss per share of between 21.3 cents per share
      and 23.8 cents per share, being an increase in the loss per
      share of between 77.5% and 98.3% for the year ended
      31 December 2017, compared to a headline loss per share of
      12.12 cents for the year ended 31 December 2016.

The reason for the decrease in headline earnings per share in
the current reporting period is mainly a result of profit on
disposal of prospecting rights being excluded from the headline
earnings calculation. The net asset value decreased with 10
cents per share from R2.23 at 31 December 2016 to R2.13 at 31
December 2017.

The information contained in this trading statement has not been
reviewed or reported on by the Company's external auditors. R&E
expects to release its financial results for the year ended 31
December 2017 on or about 26 March 2018.

Johannesburg

8 March 2018
Sponsor
PSG Capital

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