Sibanye H1 profit falls after share issue

JOHANNESBURG (Reuters) – South African gold producer Sibanye Gold said on Thursday its first-half earnings fell by more than 50 percent, reflecting the dilutive impact of a share issue this year.

Diluted headline earnings for the six months to end-June totalled 8 U.S. cents a share, compared with 17 cents a year earlier.

Gold production totalled 711,900 ounces, 8 percent higher than a year earlier.

In May Sibanye issued nearly 157 million new shares, equal to 17 percent of its share capital, to Gold One International to acquire some of the junior miner's assets.

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