[miningmx.com] – THE issue of shares to fund development, and finance costs, would eat into Keaton Energy interim share earnings due to be reported on November 19, the company said in an updated trading statement today.
Interim headline share earnings would be between 13.2 and 14.2 cents representing a decline of 32% and 27% respectively if compared to the 19.4c/share for the comparative interim period. Keaton’s half-year closed on September 30.
Keaton issued about 32.6 million new shares in February and drew on debt provided by Investec in order to finance the acquisition and development of its new project, Moabsvelden.
