|
quarter ended 31 March 2003
African Rainbow Minerals Gold Limited
ISIN: ZAE000039244
JSE Share code: AOD
Harmony Gold Mining Company Limited
ISIN: ZAE000015228
Jse Share code: HAR
Free Gold
ARMgold / Harmony Freegold Joint Venture Company (Pty) Ltd
Reg 2001/029602/07
Directors: F Abbott, P Taljaard
Results for the quarter ended 31 March 2003
Financial Results (rand/metric) (unaudited)
Quarter Quarter ended
ended
31 March 31 December
2003 2002
Ore milled - tonnes "000
- underground 1,163 1,232
- surface 1,349 1,018
- total 2,512 2,250
Yield - g/tonne
- underground 6.97 7.03
- surface 0.62 0.59
- total 3.56 4.12
Gold Produced - kg
- underground 8,104 8,660
- surface 841 599
- total 8,945 9,259
Gold Price Received - R/kg 94,085 99,669
Cash Operating Costs - R/kg 62,536 56,674
- R/tonne 223 233
R"000 R"000
Gold sales 841,588 922,834
Cash operating costs 559,385 524,741
Cash operating profit 282,203 398,093
Amortisation (35,664) (26,922)
Post retirement benefits - -
provided
Provision for Rehabilitation (9,728) (1,414)
Other income - net 69,894 59,613
Interest paid (57,089) (65,612)
Profit before taxation 249,616 363,758
South African normal taxation
- Current tax (16,556) (6,306)
- Deferred tax (68,906) (118,116)
Net earnings 164,154 239,336
Financial Results (US$/imperial) (unaudited)
Quarter Quarter ended
ended
31 March 31 December
2003 2002
Ore milled - tons "000
- underground 1,282 1,359
- surface 1,488 1,123
- total 2,770 2,482
Yield - oz/ton
- underground 0.203 0.205
- surface 0.018 0.017
- total 0.104 0.120
Gold Produced - oz
- underground 260,548 278,424
- surface 27,039 19,258
- total 287,587 297,682
Gold Price Received - $/oz 350 323
Cash Operating Costs - $/oz 232 183
- $/ton 24 22
$"000 $"000
Gold sales 100,548 96,029
Cash operating costs 66,832 54,604
Cash operating profit 33,716 41,425
Amortisation (4,261) (2,801)
Post retirement benefits - -
provided
Provision for Rehabilitation (1,162) (147)
Other income - net 8,351 6,203
Interest paid (6,821) (6,827)
Profit before taxation 29,823 37,852
South African normal taxation
- Current tax (1,978) (656)
- Deferred tax (8,232) (12,291)
Net earnings 19,612 24,905
Operating and Financial Results (Rand/Metric)
Bambanani Tshepong Joel Eland Sable/Kudu
Shaft Shaft Shaft Shaft Shaft
Ore milled - Mar-03 352 406 109 88 54
t"000
Dec-02 405 434 120 93 45
Gold Produced Mar-03 2,497 3,392 447 759 294
- kg
Dec-02 3,096 3,305 502 809 271
Yield - g/t Mar-03 7.09 8.35 4.10 8.63 5.44
Dec-02 7.64 7.62 4.18 8.70 6.02
Cash Operating
Costs - R/kg Mar-03 65,361 45,561 86,944 56,340 77,483
Dec-02 56,086 47,760 79,701 52,597 71,144
Cash Operating
Costs - Mar-03 464 381 357 486 422
R/tonne
Dec-02 429 364 333 458 428
Working Mar-03 235,139 319,578 41,648 71,267 27,742
Revenue
(R"000)
Dec-02 308,670 330,092 50,399 80,739 26,898
Cash Operating Mar-03 163,206 154,542 38,864 42,762 22,780
Costs (R"000)
Dec-02 173,643 157,846 40,010 42,551 19,280
Cash Operating Mar-03 71,933 165,036 2,784 28,505 4,962
Profit (R"000)
Dec-02 135,027 172,246 10,389 38,188 7,618
Capital Mar-03 10,159 8,051 - - 582
Expenditure
(R"000)
Dec-02 12,030 6,148 - 572 1,325
Nyala West St Helena Freegold
Shaft Shaft Surface Total
Ore milled - Mar-03 - 32 122 1,349 2,512
t"000
Dec-02 - 35 100 1,018 2,250
Gold Mar-03 - 193 522 841 8,945
Produced -
kg
Dec-02 - 214 463 599 9,259
Yield - g/t Mar-03 - 6.03 4.28 0.62 3.56
Dec-02 - 6.11 4.63 0.59 4.12
Cash
Operating
Costs - R/kg Mar-03 - 80,482 134,435 61,264 62,536
Dec-02 - 65,014 91,017 59,027 56,674
Cash
Operating
Costs - Mar-03 - 485 575 38 223
R/tonne
Dec-02 - 398 421 35 233
Working Mar-03 - 18,231 49,022 78,961 841,588
Revenue
(R"000)
Dec-02 - 21,378 45,089 59,569 922,834
Cash Mar-03 - 15,533 70,175 51,523 559,385
Operating
Costs
(R"000)
Dec-02 - 13,913 42,141 35,357 524,741
Cash Mar-03 - 2,698 (21,153) 27,438 282,203
Operating
Profit
(R"000)
Dec-02 - 7,465 2,948 24,212 398,093
Capital Mar-03 2,490 38 3,419 (497) 24,242
Expenditure
(R"000)
Dec-02 1,754 1,672 1,256 (255) 24,502
29/04/2003.
Harmony Gold Mining
Company Limited
Investor Relations
Contact: Corn, Bobbert
Telephone: +27 11 684 0146
Telefax: +27 11 684 0188
E-mail: cbobbert@harmony.co.za
www.harmony.co.za
African Rainbow Minerals
Gold Limited
Investor Relations
Contact: Mangisi Gule
Telephone: +27 11 883 5606
Telefax: +27 11 883 5609
E-mail: mangisi.gule@arm.co.za
www.armgold.com
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