WeSizwe expects reduced full-year losses

JOHANNESBURG, SOUTH AFRICA - Mar 19 2010 15:27

Black-owned platinum explorer WeSizwe Platinum on Friday said it expected to report a full-year basic and headline loss per share of between 30% and 40% less than the reported basic and headline loss per share for the same period last year.

The company last year reported a basic and diluted loss per share of 4,89 cents. This was compared with the basic and diluted loss per share of 19.17 cents posted the previous year.

The company made a net loss for the year of R27,8-million for the year to end December 2008 compared with a loss of R90,8-million for 2007.

"The decrease in the basic and headline loss per share is mainly attributable to the continued expenditure in progressing the core project of the company," WeSizwe said in a statement to the JSE.

WeSizwe expects to publish its financial statements for the period to end December 2009 by the end of March 2010. -- I-Net Bridge

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