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

JOHANNESBURG, March 14, 2013 /CNW/ - In terms of the Listings Requirements of the 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 year ended 31 December 2012 by management, has indicated that they expect a basic and headline loss per share of between 47 and 61 South African cents per share. In the prior comparative 10 month period the Company reported a basic and headline loss per share of 71.65 South African cents per share.

This decrease in the basic and headline loss per share is mainly attributable to:

  • a decrease in the non-cash share based payment expense of R9.1 million;
  • a decrease in impairment expense of R0.9 million and

Offset against:

  • an increase in new project expenditure of R1.1 million;
  • an increase in marketing expenses of R1.5 million;
  • a decrease in investment income of R1.2 million.

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 year ended 31 December 2012 are expected to be published on or about 25 March 2012.

14 March 2013

Sponsor
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited

SOURCE Wits Gold




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