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Trading Statement
Bauba Platinum Limited
Incorporated in the Republic of South Africa
(Registration number 1986/004649/06)
Share code: BAU ISIN: ZAE000145686
(“Bauba” or “the Company”)
TRADING STATEMENT
In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement
as soon as there is a reasonable degree of certainty that the financial results for the period to be reported
on will differ by more than 20% from that of the previous corresponding period.
Accordingly, a review of the financial results for the six months ended 31 December 2018 by management
has indicated that the loss per share and headline loss per share are expected to be between 2.45 cents
and 2.65 cents compared to the earnings per share and headline earnings per share of 4.19 cents for the
six months ended 31 December 2017.
Bauba’s performance for the six months to 31 December 2018 was adversely impacted by the following
factors;
- administrative delays by the Department of Water and Sanitation and by the Department of Mineral
Resources resulting in an effective loss of two months opencast production, as the opencast had
to ramp up back to planned production levels, as well as loss of four months of concentrate sales
due to the delayed commissioning of our new wash plant;
- the wash plant was commissioned and commenced production in November 2018, furthermore, it
was only operated for two thirds of December 2018 due to the festive season holidays; and
- weaker average chrome ore pricing during this interim period.
The Moeijelijk chrome ore spiral wash plant is now operating at its planned throughput levels. The wash
plant is designed to produce metallurgical, chemical and foundry grade concentrate. In February 2019,
Bauba entered into a foundry sands offtake contract with a leading foundry trader, to sell a minimum amount
of foundry grade material over a four-month period. This contract, together with Bauba’s existing offtake
agreement, will enhance Bauba’s future profit margins by increasing the value it receives from premium
speciality chrome ore concentrate sales.
The financial information on which this trading statement is based has not been reviewed or reported on by
the Company’s auditors. Bauba’s financial results are expected to be released on SENS on or about
8 March 2019.
Johannesburg
5 March 2019
Sponsor
Merchantec Capital
Date: 05/03/2019 05:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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