Witwatersrand Consolidated Gold Resources Limited - Trading update
19.11.2010 | CNW
Witwatersrand Consolidated Gold Resources Limited(Incorporated in the Republic of South Africa)
Registration Number 2002/031365/06
("Wits Gold" or "the Company")
JSE Code: WGR, ISIN: ZAE000079703, TSX Code: WGR, CUSIP Number: S98297104
JOHANNESBURG, Nov. 19 /CNW/ - In terms of the Listings Requirements of 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 will be more than 20% different from that of the previous corresponding period.
Accordingly, a review of the financial results for the 6 months ended 31 August 2010 by management has indicated that they expect a basic and headline loss of between 26.00 and 31.80 cents per share. In the prior comparative period the Company reported a basic and headline loss per share of 11.41 cents per share.
The increase in the loss and headline loss per share is mainly attributable to a decrease in interest received (R2m) as well as an increased expense in accounting for the employee share based payment (R2.6m).
The financial information on which this trading statement is based has not been reviewed or reported on by Wits Gold's auditors. The results for the 6 months ended 31 August 2010 are expected to be published on or about 30 November 2010.
19 November 2010
Sponsor
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited
(Registration number 1970/003711/07)
For further information:
Marc Watchorn, Chief Executive Officer
Tel: +27 11 832 1749
Hethen Hira, Investor Relations
Tel: +27 11 832 1749
http://www.witsgold.com