BRIEF-Wescoal Holdings Says HY Trading Sales Are 14% Lower Than Comparable Period

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BRIEF-Wescoal Holdings Says HY Trading Sales Are 14% Lower Than Comparable Period

Nov 8 (Reuters) - Wescoal Holdings Ltd WSLJ.J :

* PRODUCTION AND SALES REPORT, STRATEGIC UPDATE AND TRADING STATEMENT

* GROUP MINING PRODUCTION LEVEL FOR SIX MONTHS TO 30 SEPTEMBER 2019 IS IN TOTAL 14% LOWER THAN COMPARABLE PERIOD OF SEPTEMBER 2018

* HY TRADING SALES ARE 14% LOWER THAN COMPARABLE PERIOD

* HY MINING SALES VOLUMES RELATIVE TO COMPARABLE PERIOD ARE 6% HIGHER

* SEES HY HEADLINE LOSS PER SHARE OF BETWEEN 10.5 AND 12.5 CENTS

* SEES HY LOSS PER SHARE TO BE BETWEEN 10.6 AND 12.6 CENTS PER SHARE

* HY EBITDA EXPECTED TO BE BETWEEN R140-150 MILLION

* LOWER THAN BREAKEVEN PRODUCTION VOLUME AT VANGGATFONTEIN RESULTED IN SIGNIFICANT LOSSES BEING INCURRED OVER ENTIRE INTERIM REPORTING PERIOD

* GROUP PROFITABILITY WAS ALSO IMPACTED BY INCREASED MINING COSTS AT ELANDSPRUIT MINE IN INTERIM PERIOD

* LEEUW BRAAKFONTEIN COLLIERY ASSET REMAINS NON- CORE TO CO, NEW ASSET DISPOSAL PROCESS MAY BE CONSIDERED IN NEAR FUTURE

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