Headline earnings per share (“HEPS”) for the period is expected to increase to between 480 cents and 535 cents from 273 cents reported for the six months ended 30 June 2012 (“the comparative period”).

The expected increase in HEPS is largely attributable to a weaker average exchange rate of the Rand against the Dollar and higher sales volumes, partially offset by the impact of higher costs and lower realised dollar metal prices.

Basic earnings per share for the period is expected to increase to between 450 cents and 486 cents from a loss of 178 cents for the comparative period. Basic earnings for the comparative period includes an after tax once off loss of R1.2 billion (455 cents per share) resulting from the write-down of certain investments as well as certain projects and assets, that were considered uneconomical.

The financial information on which this trading statement is based has not been reviewed and reported on by the Company’s external auditors.