[miningmx.com] — WESIZWE PLATINUM LIMITED advised on Thursday that it expects to report basic earnings per share of between 49 cents and 51 cents for the six months ended June 30, 2010, compared to a basic loss per share of 2.55 cents previously.
“The comprehensive profit position arises from recognising the purchase of Rustenburg Platinum Mine’s 37% interest in the Western Bushveld Joint Venture, as well as the purchase consideration being fixed in shares (211 850 125 ordinary
shares at approximately R5.48).
At the time of closure of the transaction, the applicable share price was R2.20. This
difference in share price resulted in a bargain purchase, which had to be accounted for through the statement of comprehensive income,” Wesizwe said.
The group expects to publish its results at the end of September.
