ROYAL BAFOKENG PLATINUM LIMITED - Trading Statement and Production Update for the Six Months Ended 30 June 2019

Trading Statement and Production Update for the Six Months Ended 30 June 2019

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


Trading statement and production update for the six months ended 30 June 2019

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 2019 (“the
period”). The Company produced record first half production results supported by the ramp-up of
Styldrift, with 4E and platinum production ounces increasing by 21.1% and 21.3%, respectively.
BRPM operations achieved satisfactory results while the ramp-up at Styldrift progressed, albeit at
lower than planned production levels. However, earnings were negatively affected by:

*   High cash costs and high levels of depreciation due to the Styldrift ramp-up;
*   Interest charges relating to the Rustenburg Platinum Mines Limited (“RPM”) deferred
    consideration; and
*   Borrowing costs previously capitalised, which were expensed during the period.

The Company advises security holders that it anticipates a basic loss per share ("LPS") for the
period of between 65 cents and 75 cents, compared to a loss per share of 12.4 cents for the six
months ended 30 June 2018 (“previous corresponding period”). A headline loss per share (“HLPS”)
of between 65 cents and 75 cents is expected, compared to headline loss per share of 6.0 cents for
the previous corresponding period. The variance for both LPS and HLPS is greater than 100%
compared to 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 results for the period on or about 6 August 2019.



Johannesburg
23 July 2019


JSE Sponsor
Merrill Lynch South Africa Proprietary Limited

For further information, please contact:
Lindiwe Montshiwagae
Executive: Investor Relations
Tel: +27 (0)10 590 4510
Email: lindiwe@bafokengplatinum.co.za

Date: 23/07/2019 04:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.