Photo by: Duane Daws
JOHANNESBURG (miningweekly.com) – Gold miner Sibanye Gold on Friday said its earnings per share (EPS) for the six months ended June 30, were expected to be between 65c and 75c, while headline earnings per share (HEPS) were expected to be between 75c and 85c, based on an estimated 772.7-million weighted average ordinary shares.
The company noted that the increase in EPS was owing to nonrecurring items, including a R821-million impairment charge relating to the Beatrix West section and restructuring costs of R343-million.
Meanwhile, the decrease in HEPS was primarily owing to an increase in the weighted average number of shares.
Further, the HEPS and EPS for the six-month period would also be affected by a R316-million impairment relating to Sibanye’s 33.1% stake in Rand Refinery, the company said.
Rand Refinery on Friday announced that a R1.2-billion irrevocable, subordinated loan facility had been extended to it by its shareholders, as a precautionary measure following challenges encountered in the implementation of its new enterprise resource planning software system.
Sibanye would release its financial results for the six months on July 31.