UNREVIEWED CONDENSED CONSOLIDATED RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2019

1. SALIENT FEATURES

The Group’s revenue increased by 0.5% to R719 million, from R716 million in the prior corresponding period and operating profit decreased by 99% to R2 million from R148 million in the prior corresponding period. The decrease in operating profit is primarily due to the decrease in the average chrome price compared to the prior corresponding period.

Additionally, the Black Chrome Operations’ production remained at the current steady state average of 90,000 tonnes per month throughout the six month period. The Group is planning on maintaining the current levels of production for the remainder of the 2020 financial year.

Headline earnings per share ("HEPS") decreased by 453% to -0.35 cents per share, from 0.10 cents per share cents reported for the six months ended 31 August 2018;

Earnings per share ("EPS") decreased by 492% to -0.35 cents per share, from 0.09 cents per share cents reported for the six months ended 31 August 2018;.

SHORT-FORM ANNOUNCEMENT

This short-form announcement is the responsibility of the directors of the Company. It contains only a summary of the information in the full announcement ("Full Announcement") and does not contain full or complete details. The Full Announcement can be found at: https://senspdf.jse.co.za/documents/2019/JSE/ISSE/CMO/Interims19.pdf

Copies of the Full Announcement is also available for viewing on the Company’s website at http://www.chrometco.co.za/investor_relations/sens_announcements.html or may be requested in person, at the Company’s registered office or the office of the designated advisor, at no charge, during office hours.

Any investment decisions by investors and/or shareholders should be based on consideration of the Full Announcement, as a whole.

Johannesburg
29 November 2019

Designated Advisor
PSG Capital