SBLM SABLE MINING AFRICA LD ORD NPV (DI)

SABLE MINING Currency GBX

Income Statement (£ m)	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09
Continuing Operations
Revenue	0.00	0.00	0.00	0.00
Operating Profit/(Loss)	-27.69	-8.86	-1.78	-0.74
Net Interest	0.25	0.00	0.00	0.07
Profit Before Tax	-26.90	-7.17	-2.59	-4.90
Profit After Tax	-26.77	-7.17	-2.59	-4.90
Discontinued Operations
Profit After Tax	-0.00	0.19	-3.78	-0.51
PROFIT FOR THE PERIOD	-26.77	-6.99	-6.37	-5.41
Attributable to:
Minority Interests	1.73	0.07	1.64	0.00
Equity Holders of Parent Company	-25.04	-6.92	-4.74	-5.41

Continuing EPS
Earnings per Share - Basic	-2.69p	-0.77p	-0.66p	-4.33p
Earnings per Share - Diluted	-2.69p	-0.77p	-0.66p	-4.33p
Earnings per Share - Adjusted	-2.69p	-0.77p	-0.66p	-4.33p
Continuing and Discontinued EPS
Earnings per Share - Basic	-2.69p	-0.71p	-9.88p	-4.75p
Earnings per Share - Diluted	-2.69p	-0.71p	-9.88p	-4.75p
Earnings per Share - Adjusted	-2.69p	-0.71p	-1.62p	-4.75p

Dividend per Share	0.00p	0.00p	0.00p	0.00p

Balance Sheet (£ m)	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09
Assets
Non-Current Assets
Property, Plant & Equipment	7.34	1.17	0.00	0.68
Intangible Assets	88.42	22.05	0.00	30.16
Investment Properties	0.00	0.00	0.00	0.00
Investments	0.61	15.26	15.65	0.00
Other Financial Assets	0.00	0.00	0.00	0.00
Other Non-Current Assets	0.08	5.65	0.02	4.09
	96.45	44.12	15.67	34.93
Current Assets
Inventories	0.00	0.00	0.00	0.11
Trade & Other Receivables	2.73	1.42	0.04	1.36
Cash at Bank & in Hand	23.71	67.99	19.99	7.88
Current Asset Investments	0.00	0.00	0.00	0.00
Other Current Assets	0.00	0.00	0.00	0.00
	26.44	69.41	20.03	9.35

Total Assets	122.89	113.53	35.70	44.28

Liabilities
Current Liabilities
Borrowings	-9.28	0.00	0.00	0.00
Other Current Liabilities	-2.59	-2.22	-1.09	-0.55
	-11.86	-2.22	-1.09	-0.55

Net Current Assets	14.58	67.19	18.94	8.80

Non-Current Liabilities
Borrowings	0.00	0.00	0.00	0.00
Provisions	-9.94	0.00	0.00	0.00
Other Non-Current Liabilities	0.00	0.00	0.00	0.00
	-9.94	0.00	0.00	0.00

Other Liabilities	n/a	n/a	n/a	n/a
Total Liabilities	-21.81	-2.22	-1.09	-0.55

Net Assets	101.09	111.31	34.61	43.73

Capital & Reserves
Share Capital	155.60	155.10	77.90	50.47
Share Premium Account	0.00	0.00	0.00	0.00
Other Reserves	6.79	1.23	0.81	-3.10
Retained Earnings	-73.88	-48.67	-44.10	-5.37
Shareholders Funds	88.51	107.65	34.61	41.99

Minority Interests/Other Equity	12.57	3.66	0.00	1.73
Total Equity	101.09	111.31	34.61	43.73

Ratios - based on IFRS	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09
Continuing Operations
PE Ratio - Adjusted	-3.86	-30.52	-46.21	n/a
PEG - Adjusted	-0.02	-1.86	0.54	n/a
Earnings per Share Growth - Adjusted	250.85%	16.39%	-84.79%	n/a
Dividend Cover	n/a	n/a	n/a	n/a
Revenue Per Share	0.00p	0.00p	0.00p	0.00p
Pre-Tax Profit per Share	-2.90p	-0.80p	-0.66p	-4.35p
Operating Margin	n/a	n/a	n/a	n/a
Return on Capital Employed	-83.59%	-8.04%	-7.47%	-35.60%

Continuing & Discontinued Operations
Dividend Yield	0.00%	0.00%	0.00%	n/a
Dividend per Share Growth	n/a	n/a	n/a	n/a
Net Asset Value per Share (exc. Intangibles)	0.01p	9.23p	5.51p	3.79p
Net Gearing	-16.31%	-63.16%	-57.75%	-18.76%

Data is provided by Morningstar

SABLE MINING - Fundamentals