[miningmx.com] – SIBANYE Gold is expected to report better than forecast share earnings for the six months ended December 31 on the back of higher production and lower costs, the company said in a statement today.
Headline share earnings per share are expected to be as much as 197 South African cents per share. Full-year headline share earnings will be between 350c and 360c per share, the company said.
Full-year production is expected to be around 1.43 million ounces, better than the 1.29 million oz which was forecast in May 2013, a few months after Sibanye Gold debuted on the Johannesburg Stock Exchange.
It also said at the time that average all-in costs would be around R380,000 per kilogram but are now expected to be about R355,000/kg. A higher realised gold price was partly behind the performance. The recent decline in the rand against the dollar is likely to put more vim into Sibanye Gold’s first quarter performance.
Sibanye Gold will report its full-year figures on February 20.
