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DURBAN ROODEPOORT DEEP, LIMITED
NASDAQ trading symbol : DROOY
Registration No.1895/000926/06
ARBN 086 277616
ABRIDGED GROUP RESULTS FOR THE QUARTER ENDED
30 JUNE 2001
Group Highlights
Quarter Quarter
June 2001 March 2001
Gold production: 8 102 kg 7 780 kg
260 483 oz 250 130 oz
Cash operating costs: R 58 913/kg R 60 219/kg
US$ 228/oz US$ 239/oz
Cash operating profit: R 63.0 million R43.4 million
US$ 7.8 million US$ 5.5 million
Headline earnings/(loss): R 5.4 million (R62.8 million)
US$ 0.7 million (US$ 8.0 million)
Incorporating the results of all Durban Roodepoort Deep subsidiaries,
including Blyvooruitzicht Gold Mining Company Limited, Buffelsfontein Gold
Mines Limited, West Witwatersrand Gold Holdings Limited, Crown Consolidated
Gold Recoveries Limited, Hartebeestfontein Gold Mine a division of
Buffelsfontein Gold Mines Limited, DRD Australasia and Dome Resources NL.
GROUP OPERATING RESULTS Quarter Quarter 12mths to
(Unaudited) 30/06/01 31/03/01 30/06/01
Ore milled - t'1000 6 264 6 336 24 908
Yield-g/tonne 1.29 1.23 1.33
Gold produced-kg 8 102 7 780 33 097
Cash cost - R/kg 58 913 60 219 57 636
FINANCIAL RESULTS (R million)
Gold revenue* 540.4 511.9 2 121.8
Cash operating costs 477.4 468.5 1 907.6
Cash operating profit* 63.0 43.4 214.2
Other expenses 26.3 13.6 60.2
GROUP OPERATING RESULTS - CONTINUED
Quarter Quarter 12mths to
30/06/01 31/03/01 30/06/01
Cash profit from operations* 36.7 29.8 154.0
Hedge restructuring costs - 10.4 38.5 111.5
Retrenchment costs 9.6 6.2 24.8
Interest expense 14.2 14.4 59.4
Care and maintenance costs 0.9 2.9 11.3
Net cash operating profit/(loss) 1.6 (32.2) (53.0)
Non-cash items 3.4 30.5 91.2
Rehabilitation (0.7) 1.9 6.0
Depreciation 39.1 32.2 124.0
Work in progress 2.8 (3.6) (1.0)
Gain on financial instruments (37.8) - (37.8)
Loss before taxation (1.8) (62.7) (144.2)
Taxation (7.2) 0.1 (7.0)
Deferred taxation - - (5.2)
Profit/(Loss)after taxation 5.4 (62.8) (132.0)
Exceptional items 112.6 1.6 114.2
Net Loss (107.2) (64.4) (246.2)
Headline earnings/(loss)
per share-cents 4 (46) (103)
Basic loss per share - cents (77) (47) (192)
Calculated on the weighted
average ordinary shares issued
of : 140 017 307 137 283 875 128 119 013
Capital expenditure - net
outflow/(inflow) 1.7 (5.8) 9.6
Net cash absorbed after
capital expenditure (0.1) 26.4 (62.6)
ABRIDGED BALANCE SHEET Quarter Quarter
(R Million)-(Unaudited) 30/06/01 31/03/01
Employment of Capital
Mining assets after depreciation 856.7 891.9
Cash and equivalents 113.0 102.8
Other non-current assets 133.9 122.9
Current assets 278.2 307.1
1 381.8 1 424.7
Capital employed
Shareholders' equity 421.0 487.2
Borrowings 64.0 73.3
Rehabilitation 209.0 202.2
Deferred taxation 41.5 65.7
Other non-current liabilities 168.6 154.7
Current liabilities 477.7 441.6
1 381.8 1 424.7
ABRIDGED CASH FLOW STATEMENT Quarter Quarter
R Million (Unaudited) 30/06/01 31/03/01
Cash flow from operating activities 9.7 (71.4)
Cash flow from investing activities (11.1) 5.0
Cash flow from financing activities 11.0 50.2
Translation adjustment 0.6 (1.0)
Increase in cash and equivalents 10.2 (17.2)
Opening cash and equivalents 102.8 120.0
Closing cash and equivalents 113.0 102.8
For and on behalf of the board
MARK WELLESLEY-WOOD
Chairman and acting Chief Executive Officer 24 July 2001
Note:* Gold revenue restated due to overdeclaration
of gold production at the North West Operations
in prior quarters.
Directors:
MM Wellesley-Wood (Chairman and Chief Executive Officer)*;
RAR Kebble (Deputy Chairman); IL Murray (Chief Financial Officer); F
Weideman; G Fischer; N Goodwin; VO Hoops; LG Njenje ; F Lips** (*British)
(**Swiss)
For further information, contact Maryna Eloff (Group Company Secretary) at:
Tel:(+27-11) 482-4968, Fax: (+27-11) 482-4641
E-mail: eloffm@drd.co.za , Web site : http:/www.durbans.com
45 Empire Road, Parktown, PO Box 390, Maraisburg, 1700
South Africa.
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