Education, Mining & a Resignation
Friday ended a third of a percent lower on the markets, but thanks to Naspers’s 5% rally we managed a 0.3% positive close for the week. Education stocks ADvTECH and Curro reported last week. We had a flurry of miners report: Harmony and Goldfields both reported flat gold production numbers and negative cash flow, while Exxaro was “saved” by their coal assets; and Sibanye Gold released a trading statement which implies a very different company to the one they were last year. And while everyone was enjoying after work Friday drinks, Bidvest released a trading statement saying that Brian Joffe had resigned from the company with immediate effect.