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VIL
VIL
VIL - Village Main Reef Gold Mining Company (1934) Limited - Interim report for
the six months ended 31 December 2007 (Unaudited)
VILLAGE MAIN REEF GOLD MINING COMPANY (1934) LIMITED
(Registration number 1934/005703/06)
(Incorporated in the Republic of South Africa)
(Share code: VIL ISIN: ZAE000007720)
("the Company")
Interim report for the six months ended 31 December 2007 (Unaudited)
BALANCE SHEET
31 December 30 June
2007 2006 2007
Unaudited Unaudited Audited
R`000 R`000 R`000
Assets
Non-current assets
Property, plant and equipment - 250 -
Environmental rehabilitation trust 3 614 3 292 3 439
Current assets
Cash and cash equivalents 1 205 1 485 1 277
Non-current assets held for sale 250 - 250
Total assets 5 069 5 027 4 966
Equity and liabilities
Share capital 758 758 758
Accumulated profit 1 008 1 176 1 054
1 766 1 934 1 812
Provision for rehabilitation 3 299 3 000 3 150
Current liabilities 4 93 4
Trade and other payables 4 93 4
Total equity and liabilities 5 069 5 027 4 966
Net asset value per share (cents) 29.10 31.87 29.86
INCOME STATEMENT
Six months Year
ended ended
31 December 30 June
2007 2006 2007
Unaudited Unaudited Audited
R`000 R`000 R`000
Turnover - - -
Profit/(Loss) for period 109 (211) (336)
Other income 35 64 217
Interest received 35 64 217
Finance costs (191) - (150)
Loss before taxation (46) (147) (269)
Taxation - - -
Net loss for period (46) (147) (269)
Basic and diluted loss per share (cents) (0.76) (2.42) (4.43)
Headline loss per share (cents) (0.76) (2.42) (4.43)
STATEMENT OF CHANGES IN EQUITY
31 December 30 June
2007 2006 2007
Unaudited Unaudited Audited
R`000 R`000 R`000
Balance at beginning of period 1 812 2 081 2 081
Net loss for period (46) (147) (269)
Balance at end of period 1 766 1 934 1 812
Headline earnings
Loss per income statement (46) (147) (269)
Adjustments - - -
Headline loss (46) (147) (269)
CASH FLOW STATEMENT
Six months Year
ended ended
31 December 30 June
2007 2006 2007
Unaudited Unaudited Audited
R`000 R`000 R`000
Cash generated/(utilised) by current
activities, net of changes
in working capital 68 (228) (769)
Interest received 35 64 217
Increase in investment in
rehabilitation trust fund (175) (180) -
Cash and cash equivalents
Decrease for period (72) (344) (552)
Beginning of period 1 277 1 829 1 829
End of period 1 205 1 485 1 277
Accounting policy and notes to the financial statement
The financial statements are prepared on the historical cost basis and
incorporate accounting policies which are consistent with those of the previous
year. The policies are in accordance with International Financial Reporting
Standards. These interim financial statements are prepared in accordance with
IAS 34, Interim Financial Reporting, and should be read in conjunction with the
financial statements for the year ended 30 June 2007.
Environmental rehabilitation
The Company is in the process of investigating the issues surrounding the
various environmental issues as discussed in the June 2007 Annual Report.
A detailed report is expected to be finalised by June 2008.
For and on behalf of the board
Frank Abbott (Director)
Sandton
27 March 2008
Sponsor
Merrill Lynch
Date: 27/03/2008 15:13:24 Produced by the JSE SENS Department.
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