BAUBA RESOURCES LIMITED - Short-Form: Condensed Reviewed Results for the Eight-Month Period Ended 28 February 2022 and Change of Year-End

Short-Form: Condensed Reviewed Results for the Eight-Month Period Ended 28 February 2022 and Change of Year-End

Bauba Resources Limited
Incorporated in the Republic of South Africa
(Registration number: 1986/004649/06) 
Share code: BAU
ISIN: ZAE000145686
("Bauba" or "the company")


Short-form: condensed reviewed results
for the eight-month period ended 28 February 2022 and change of year-end


Salient points

- The company changed its financial year-end from 30 June to 28 February
- Revenue for the period decreased by 7,5% to R256,2 million 
  (2021: R277,1 million)
- Total comprehensive loss for the period of R52,3 million (2021: R31,4 million)
- Investment in property, plant and equipment increased by 45,0% to 
  R293,8 million (2021: R202,6 million)
- Basic and diluted loss per share* of 5,92 cents (2021: 5,12 cents)
- Headline and diluted loss per share* of 5,92 cents (2021: 5,05 cents)
- Chrome concentrate production increased by 40,0% to 138 053 tonnes 
  (2021 eight-month comparable: 98 590 tonnes)
- Run-of-mine production increased by 16,0% to 205 940 tonnes 
  (2021 eight-month comparable: 177 508 tonnes)
- Nuco Chrome has commenced production

* As restated for the rights issue

Short-form announcement

This short-form announcement is the responsibility of the directors and is
only a summary of the information in the full announcement and does not 
contain the complete or full details. The full announcement has been 
released on SENS and is available at: 
https://senspdf.jse.co.za/documents/2022/jse/isse/bau/ye22.pdf 
and can also be found on the company's website www.baubaresources.co.za

Any investment decision should be based on consideration of the full 
announcement, copies of which are available for inspection from Monday 
to Friday, during office hours, at the registered offices of the 
company and sponsor. Copies of the full announcement may also be 
requested, at no charge, by emailing bauba@acorim.co.za

The condensed consolidated results for the eight-month period ended 
28 February 2022 have been reviewed by the company's auditor, BDO South
Africa Incorporated, who issued an unmodified review conclusion with a 
material uncertainty paragraph related to going concern ("the Auditor's 
Report"). The Auditor's Report includes the key audit matters and is 
available on the company's website at www.baubaresources.co.za


Johannesburg
13 May 2022


Board of directors
S Edwards* (Chairperson), Dr NM Phosa*, T Baring#, R Shedlock#, J Wessels#, 
J Le Roux^, E Nel*, G Baumgarten^, JT Jordaan#, JA Knowlden, DFB Nelson

#Non-executive
*Independent non-executive
^Alternate non-executive

Sponsor
Merchantec Capital
13th Floor, Illovo Point, 68 Melville Road, Illovo, Sandton, 2196 
(PO Box 41480, Craighall, 2024)

Registered office
50 Tegel Avenue, Highgrove Office Park, Building 11, Highveld, Centurion,
0157, South Africa
(PO Box 71036, Bryanston, 2021)

Company secretary
Merchantec Proprietary Limited

Transfer secretaries
Computershare Investor Services Proprietary Limited Rosebank Towers, 
15 Biermann Avenue, Rosebank, 2196 
(Private Bag X9000, Saxonwold, 2132)

Auditor
BDO South Africa Incorporated
52 Corlett Drive, Illovo, 2196

Date: 13-05-2022 07:05:00
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