African Copper PLC
AIM : ACU

African Copper PLC

June 28, 2011 02:00 ET

African Copper Plc-Re: ZCI Trading Update

LONDON, UNITED KINGDOM--(Marketwire - June 28, 2011) - African Copper Plc ("ACU" or the "Company") (AIM:ACU)(BOTSWANA:AFRICAN COPPER), the AIM and Botswana listed copper producer and exploration company, notes the trading statement announced by its major shareholder ZCI Limited ("ZCI") this morning on the Johannesburg Stock Exchange which, for completeness, it has set out below.

African Copper would like to clarify that it expects to trade in line with the Company's Trading Update of 19 May 2011 for the year ended 31 March 2011.

"ZCI LIMITED TRADING STATEMENT

In terms of section 3.4 (b) of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on will differ by at least 20% or more from the financial results for the previous corresponding period.

Shareholders are advised that ZCI is currently finalising its results for the year ended 31 March 2011. ZCI is expecting a loss per share of between 7 and 9 US cents per share which is down from earnings per share of 33.50 US cents per share for the comparative period and headline loss per share between 7 and 9 US cents per share up from a loss of 27.40 US cents per share for the comparative period. The financial information on which this trading statement is based is being reviewed by ZCI's auditors.

The results for the year ended 31 March 2011 will be published on SENS on or about 30 June 2011."

African Copper expects to announce full year results for the period to 31 March 2011 on or about 30 June 2011.

For further information please visit www.africancopper.com.

Notes to Editors:

African Copper Plc is an AIM and Botswana listed copper producer and exploration company, currently focused on Botswana. The Company's flagship project is the copper producing open pit Mowana Mine.

ACU also operates the Thakadu copper mine. Both deposits are situated on the highly prospective Matsitama belt, located close to Botswana's second largest city, Francistown, in the north-eastern part of the country.

Contact Information

  • African Copper Plc
    Brad Kipp
    Chief Financial Officer
    +1 (416) 847 4866
    bradk@africancopper.com
    www.africancopper.com

    Tavistock Communications (PR and IR)
    Simon Hudson/Lydia Eades
    +44 (0) 20 7920 3150

    Canaccord Genuity (NOMAD and Broker)
    Andrew Chubb/Tarica Mpinga
    +44 (0) 20 7050 6500