Wits Gold - Trading update
Witwatersrand Consolidated Gold Resources Limited
(Incorporated in the Republic of South Africa)
Registration Number 2002/031365/06
('Wits Gold')
JSE Code: WGR ISIN: ZAE000079703
TSX Code: WGR CUSIP Number: S98297104
TORONTO, March 20, 2012 /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 that 20% different from that of the previous corresponding period. Accordingly, a review of the financial results for the 10 months ended 31 December 2011 by management, has indicated that they expect a basic and headline loss per share of between 70 and 80 South African cents per share. In the prior comparative 12 month period the Company reported a basic and headline loss per share of 50.11 South African cents per share.
This increase in the basic and headline loss per share is mainly attributable to an increase in employment related expenditure of R9.3 million. The increase in employment related expenditure results mainly from the accounting for R5.6 million of non-cash share based expenditure and an increase of R3.8 million in cash based remuneration.
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 10 months ended 31 December 2011 are expected to be published on or about 29 March 2012.
Sponsor
PricewaterhouseCoopers Corporate Finance (Proprietary)
Limited
(Registration number 1970/003711/07)
Wits Gold
CONTACT: Philip Kotze
Chief Executive Officer
Tel: +27 11 832 1749
Hethen Hira
Executive: Investor Relations
Tel: +27 11 832 1749
www.witsgold.com