Witwatersrand Consolidated Gold Resources Limited - 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, South Africa, May 11 /CNW/ - 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 than 20% different from that of
the previous corresponding period. Accordingly, a review of the financial
results for the 12 months ended 28 February 2009 by management has indicated
that they expect a basic Loss per share of between 11,84 cents per share and
14,45 cents per share and headline Loss per share of between 11,88 cents per
share and 14,50 cents per share. In the prior comparative period the company
reported a basic and headline Profit per share of 2,82 cents per share.
    This increase in the basic Loss and headline Loss per share is mainly
attributable to a reduction in the fair value gain on financial asset(13,9m);
increases in consulting fees (R1,5m)and in investor relations expenditure
(R2,2m); offset by an increase in finance income (R6,4m)and reductions in
stock exchange listing and related expenditure (R4,1m) and in the tax charge
(R2,8m). In addition the weighted average number of shares in issue increased
by 1 492 263.
    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 2009 are expected to be published on or about 29
May 2009.

    Sponsor
    PricewaterhouseCoopers Corporate Finance (Proprietary) Limited





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