| Wed 27 Mar 2002, 0:00 | | Stilfontein Gold - Interim Report For The Six Mont |
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STILFONTEIN GOLD MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1949/033412/06)
JSE Share code: STI ISIN: ZAE000007118
("the company")
INTERIM REPORT FOR THE SIX MONTHS ENDED 31 DECEMBER 2001
Issued Capital 13 062 920 Ordinary Shares of 50 cents each
Financial Results (R'000)
INCOME STATEMENTS
Unaudited Unaudited Audited
six months six months year
ended ended ended
31 December 31 December 30 June
2001 2000 2001
Net operating (loss)/income
for the period (52) (55) 536
Net finance income 395 3 30
Net income/(loss)
for the period before taxation 343 (52) 566
Taxation 103 - -
Net income/(loss) for the period 240 (52) 566
Basic, headline and diluted
earnings/(loss) per share (cents) 1,8 (0,4) 4,3
BALANCE SHEETS
Unaudited Unaudited Audited
31 December 31 December 30 June
2001 2000 2001
Assets
Non-current assets
- Property, plant and equipment 7 966 7 966 7 966
- Investments 29 29 29
7 995 7 995 7 995
Current assets 5 172 6 071 5 617
Total assets 13 167 14 066 13 612
Liabilities and shareholders' equity
Current liabilities
- interest bearing - 869 -
- non-interest bearing 1 096 1 986 1 781
Total liabilities 1 096 2 855 1 781
Shareholders' equity 12 071 11 211 11 831
Total liabilities and equity 13 167 14 066 13 612
Net asset value per share (cents) 92,4 85,8 90,6
CASH FLOW STATEMENTS
Unaudited Unaudited Audited
six months six months year
ended ended ended
31 December 31 December 30 June
2001 2000 2001
Cash flows from operating activities 909 1 685 2 810
Net cash at bank/(bank overdraft)
at beginning of period 256 (2 554) (2 554)
Net cash at bank/(bank overdraft)
at end of period 1 165 (869) 256
STATEMENT OF CHANGE IN EQUITY
Share Share Retained
capital premium earnings Total
Balance on 1 July 2000 6 531 1 514 3 220 11 265
Net earnings for period - - 566 566
Balance on 1 July 2001 6 531 1 514 3 786 11 831
Net earnings for the period - - 240 240
Balance on 31 December 2001 6 531 1 514 4 026 12 070
Notes to the interim condensed financial statements
These consolidated, abridged interim financial statements were drawn up
in compliance with South African statements of generally accepted accounting
practice and the company has complied with the requirements of the companies
Act.
The accounting policies as set out in the 2001 annual report have been
consistently applied in producing these results.
No material events, which have not been reflected in the interim
financial statements, have occurred subsequent to the end of the financial
period.
There has been no change in contingent liabilities since 30 June 2001.
COMMENTS
1. During the period under review, the company continued pumping operations
on behalf of Hartebeestfontein Gold Mining Company Limited.
2. The improvement in working capital is mainly due to the partial repayment
of the loan to Hartebeestfontein Gold Mining Company Limited.
3. Provision has been made for taxation on non-mining income at a rate of 30
per cent.
For and on behalf of the board
R A R Kebble N J Froneman
Chairman Director
Johannesburg
28 March 2002
Company secretary: P B Beale
Registered office: 28 Harrison Street, Johannesburg, 2001,
(PO Box 11165, Johannesburg, 2000)
Transfer secretaries: Ultra Registrars (Pty) Limited,
11 Diagonal Street, Johannesburg, 2001,
(PO Box 4844, Johannesburg, 2000)
United Kingdom Registrars:
Cumputershare Investor Services Plc
Security Services - Registrars,
PO Box 82, The Pavilions, Bridgewater Road, Bristol BS99 7NH
Telephone (0117) 930-6600 Telefax (0117) 930-6509
United Kingdom Secretaries: St. James's Corporate Services Limited, 6
St. James's Place, London, SW1A 1NP
Telephone (020) 499-3916 Telefax (020) 491-1989
French Agents: Euro Emetteurs Finance,
48 Boulevard des Batignolles, 75850 Paris, CEDEX 17, France
Telephone (+331) 5530 5900 Telefax (+331) 5530 5910
