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Simmer And Jack Mines - Unaudited Interim Results For Six Months Ended 30
Release Date: 29/11/2002 16:00:07 Code(s): SIM
SIMMER AND JACK MINES - UNAUDITED INTERIM RESULTS FOR SIX MONTHS ENDED 30
SEPTEMBER 2002
SIMMER AND JACK MINES, LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1924/007778/06)
Share code SIM ISIN ZAE000006722
Directors: R A R Kebble (Chairman), M McChesney (CEO), H C Buitendag,
J Stratton (Australian)
UNAUDITED INTERIM RESULTS FOR SIX MONTHS ENDED 30 SEPTEMBER 2002
Abridged consolidated income statement
Unaudited Unaudited Audited
six months six months year
ended ended ended
30 Sept 2002 30 Sept 2001 31 March 2002
R`000 R`000 R`000
Revenue 28 728 20 268 46 129
Operating costs ( 25 176) (19 262) (40 884)
Gross operating profit 3 552 1 006 5 245
Corporate expenses (706) (830) (1 974)
Operating profit 2 846 176 3 271
Income from investments 344 - 126
Net finance charges (2 184) (1 787) (3 698)
Profit/(Loss) for period before taxation 1 006 (1 611) (301)
Taxation - - -
Profit/(Loss) for period 1 006 (1 611) (301)
ABRIDGED CONSOLIDATED BALANCE SHEET
Unaudited Unaudited Audited
30 Sept 2002 30 Sept 2001 31 March 2002
ASSETS
Non-current assets 56 223 57 552 53 294
Mining assets 54 722 56 352 51 866
Financial assets 1 200 1 200 1 200
Environmental Rehabilitation Trust Fund 301 - 228
Current assets 10 738 5 749 12 455
Other current assets 6 839 5 184 6 449
Cash and cash equivalents 3 899 565 6 006
66 961 63 301 65 749
EQUITY AND LIABILITIES
Equity capital and accumulated loss 36 122 35 647 35 116
Shareholders` interest 36 121 35 646 35 115
Minority shareholders` interest 1 1 1
Non-current liabilities 25 494 23 625 25 642
Interest bearing borrowings 682 231 14
Loan from holding company
- interest bearing 24 236 23 394 25 052
Environmental Rehabilitation provision 576 - 576
Current liabilities 5 345 4 029 4 991
Interest bearing borrowings - - 154
Other current liabilities 5 345 4 029 4 837
66 961 63 301 65 749
Number shares in issue (`000) 215 432 215 432 215 432
Net asset value per share (cents) 16,8 16,5 16,3
Headline earnings and attributable
earnings per share(cents) 0,5 (0,7) (0,1)
Based on weighted average number of
shares in issue (`000) 215 432 215 432 215 432
ABRIDGED CONSOLIDATED CASH FLOW STATEMENT
Cash flows from operating activities 4 863 1 482 2 988
Cash flows from investing activities (4 483) (1 068) (468)
Cash flows from financing activities (2 487) (159) 3 176
Net increase in cash
and cash equivalents (2 107) 255 5 696
Cash and cash equivalents
at beginning of period 6 006 310 310
Cash and cash equivalents
at end of period 3 899 565 6 006
Statement of Changes in Equity
Non- Accumulated
Share Share distributable profit/
capital premium reserves (loss) Total
R`000 R`000 R`000 R`000 R`000
Balance at 1 April 2001
As previously reported 4 307 106 543 17 358 (41 001) 87 207
Prior period adjustment -
mining assets - - - (52 619) (52 619)
Prior period adjustment -
gold-in-process - - - 828 828
As restated 4 307 106 543 17 358 (92 792) 35 416
Transfer of profits appropriated
for capital - - (17 358) 17 358 -
Net loss - - - (301) (301)
Balance at 31 March 2002 4 307 106 543 - (75 735) 35 115
Profit for period - - - 1 006 1 006
Balance at 30
September 2002 4 307 106 543 - (74 729) 36 121
Note:
The results are prepared on the historical cost basis. Accounting policies
adopted by the group are in accordance with International Accounting Standards
and South African Statements of Generally Accepted Accounting Practice and are
consistent with those of the previous year.
By order of the Board
Consolidated Mining Management Services Limited
Secretaries
Johannesburg
28 November 2002
Transfer secretaries
South Africa United Kingdom Registered office Sponsor
Computershare Investor Capita IRG Plc 3rd Floor River Sponsors
Services Limited Balfour house 28 Harrison Street (Pty) Limited
Ground Floor 390/398 High Road Johannesburg, 2001 Suite 201,
70 Marshall Street Ilford 150 Brooks Street
Johannesburg, 2001 Essex LG1 1NQ Brooklyn, 0181
England Pretoria
Date: 29/11/2002 04:00:00 PM Produced by the JSE SENS Department
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