ROYAL BAFOKENG PLATINUM LIMITED - Trading Statement for the six months ended 30 June 2018

Trading Statement for the six months ended 30 June 2018

ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2008/015696/06)
Company code: RBPD
Bond code: RBPCB    ISIN: ZAE000243853
JSE share code: RBP ISIN: ZAE000149936
("RBPlat" or the "company")

Trading statement for the six months ended 30 June 2018

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements,
a listed company is required to publish a trading statement as soon as
it is satisfied that a reasonable degree of certainty exists that the
financial results for the period to be reported upon next will differ
by at least 20% from those of the previous corresponding period and can
with a reasonable degree of certainty provide an estimated range with a
maximum variance of 20%.

RBPlat is in the process of finalising its financial results for the six
months ended 30 June 2018. Notwithstanding an approximately 7% increase
in total ounce production (including Styldrift on-reef development
ounces), the revenue-accounted ounce production from BRPM was
approximately 8% down on the previous corresponding period, primarily
due to the closure of non-profitable UG2 production at BRPM’s South
shaft. This reduction was more than off-set by an approximately 6%
reduction in BRPM’s cash operating costs combined with an estimated 13%
improvement in the revenue basket price achieved. Earnings were however
negatively affected by the following items:

•   R25.9 million impairment of feasibility study costs previously
    capitalised in respect of the Styldrift 100ktpm concentrator plant
    originally envisaged to be built as an addition to the BRPM
    concentrator plant; and
•   R20.5 million care and maintenance and operational readiness costs in
    respect of the newly acquired Maseve concentrator plant and mine in
    anticipation of the plant commissioning and ramping up in the second
    half of 2018.

The company advises that it anticipates a loss per share ("LPS") for the
six months ended 30 June 2018, of between 13.5 cents and 10.5 cents
(representing an improvement of between 10% and 30%), compared to a LPS
of 15 cents for the previous corresponding period (the six months ended
30 June 2017). A headline loss per share (“HLPS”) of between 7.5 cents
and 4.5 cents (representing an improvement of between 51% and 70.6%) is
anticipated, compared to a HLPS of 15.3 cents for the previous
corresponding period.

The information set out in this announcement has not yet been reviewed
and reported on by the company's external auditors.

RBPlat expects to release its interim results on or about 6 August 2018.

Johannesburg
26 July 2018

JSE Sponsor
Merrill Lynch South Africa Proprietary Limited

For further information, please contact:

Lindiwe Montshiwagae
Executive: Investor Relations
Tel: +27 (0)10 590 4517
Mobile: +27 (0)82 920 7803

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