Wits Gold Trading Update

Witwatersrand Consolidated Gold Resources Limited
(Incorporated in the Republic of South Africa)
Registration Number 2002/031365/06
("Wits Gold")
JSE Code: WGR   ISIN: ZAE000079703
TSX Code: WGR  CUSIP Number: S98297104

JOHANNESBURG, May 10 /CNW/ -

Trading update

In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will be more that 20% different from that of the previous corresponding period.  Accordingly, a review of the financial results for the 12 months ended 28 February 2011 by management, has indicated that they expect a basic and headline loss per share of between 47.50 cents per share and 53.00 cents per share. In the prior comparative period the Company reported a basic and headline loss per share of 28.05 cents per share.

This increase in the basic and headline loss per share is mainly attributable to a reduction in net finance income (R1.7m), and an increase in employment related expenditure (R5.0m). The increase in employment related expenditure results mainly from the accounting for R4.4m of non-cash share based payment expenditure.

The financial information on which this trading statement is based has not been reviewed or reported on by Wits Gold's auditors. The results for the 12 months ended 28 February 2011 are expected to be published on or about 30 May 2011.

10 May 2011

Sponsor
PricewaterhouseCoopers Corporate Finance (Proprietary)
Limited
(Registration number 1970/003711/07)

SOURCE Wits Gold

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Wits Gold

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