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STILFONTEIN GOLD MINING COMPANY LIMITED - INTERIM REPORT FOR THE PERIOD ENDED
31 DECEMBER 2003
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 PERIOD ENDED 31 DECEMBER 2003
Unaudited Unaudited Audited
Six months Six months Year
INCOME STATEMENTS (ABRIDGED) ended ended ended
31 December 31 December 30 June
2003 2002 2003
R"000 R"000 R"000
Net operating (loss)/profit for the period (202) (52) 25
Investment income 376 9 309
Provision for environmental rehabilitation - - (3 564)
Net profit/(loss) for the period before taxation 174 (43) (3 230)
Taxation - 3 -
Net profit/(loss) for the period 174 (46) (3 230)
Earnings/(Loss) per share - (cents)
- headline and attributable earnings/(loss) 1,3 (0,4) 24,8
Earnings per share calculation is based on
the weighted number of shares in issue of: 13 062 920 13 062 920 13 062 920
Unaudited Unaudited Audited
BALANCE SHEETS (ABRIDGED) 31 December 31 December 30 June
2003 2002 2003
R"000 R"000 R"000
ASSETS
Non-current assets
- Mining assets 7 881 7 916 7 916
- Investments 131 29 29
8 012 7 945 7 945
Current assets 7 647 7 390 9 431
Total assets 15 659 15 335 17 376
LIABILITIES AND SHAREHOLDERS" EQUITY
Current liabilities 6 228 3 066 8 119
- non-interest bearing
Shareholders" equity 9 431 12 269 9 257
Total liabilities and shareholders" equity 15 659 15 335 17 376
Net asset value per share (cents) 72,2 93,9 70,8
Unaudited Unaudited Audited
Six months Six months Year
CASH FLOW STATEMENTS (ABRIDGED) ended ended ended
31 December 31 December 30 June
2003 2002 2003
R"000 R"000 R"000
Cash flows (utilised in)/from operating
activities (223) 1 264 818
Cash flows from investing activities 35 - 50
Cash flows from financing activities - - 778
Net (decrease)/increase in cash resources (188) 1 264 1 646
Cash and cash equivalents at beginning of the
period 6 796 5 150 5 150
Cash and cash equivalents at end of the period 6 608 6 414 6 796
Share Share Retained
STATEMENT OF CHANGES IN EQUITY capital premium earnings Total
R"000 R"000 R"000 R"000
Balance on 1 July 2002 6 531 1 514 3 664 11 709
Net loss for the year - - (3 230) (3 230)
Forfeited dividends - - 778 778
Balance on 1 July 2003 6 531 1 514 1 212 9 257
Net profit for the period - - 174 174
Balance on 31 December 2003 6 531 1 514 1 386 9 431
NOTES TO THE FINANCIAL STATEMENTS
1. Basis Of Accounting
These results are prepared in accordance with South African Statements of
Generally Accepted Accounting Practise and Schedule 4 to the Companies
Act,1973. These accounting policies are consistent with those used in the
annual financial statements for the year ended 30 June 2003.
2. During the period under review, the authorised and issued share capital of
the Company remained unchanged at 14 000 000 ordinary shares of 50 cents
each of which 13 062 920 ordinary shares of 50 cents each were in issue
throughout the period.
3. No material events have occurred subsequent to the end of the interim
financial period.
4. There has been no change in contingent liabilities since 30 June 2003.
COMMENTS
1. During the period under review, the Company continued pumping operations on
behalf of Hartebeestfontein Gold Mining Company Limited.
2. No provision for taxation has been made as the Company has a calculated
assessable loss.
For and on behalf of the board
R A R Kebble H C Buitendag
Non-executive Chairman Executive Director
Johannesburg
10 March 2004
Company Secretary:
P B Beale
Investor Relations:
G W Poole
Telephone: +27 11 688 5100
Telefax: +27 11 836 3757
E-Mail: gpoole@jci.co.za
Registered Office:
28 Harrison Street,
Johannesburg, 2001
(PO Box 11165, Johannesburg, 2000)
Transfer Secretaries:
Computershare Limited,
70 Marshall Street,
Johannesburg, 2001
(PO Box 1053, Johannesburg, 2000)
United Kingdom Registrars:
Capita Registrars,
The Registry,
34 Beckenham Road,
Beckenham, Kent BR3 4TU
Telephone: +44 870 162 3100
Telefax: +44 20 8639 2342
London Secretaries:
St. James"s Corporate Services Limited,
6 St James"s Place,
London SW1A 1NP
Telephone: +44 20 7491 1889
Telefax: +44 20 7491 1989
French Agents:
Euro Emetteurs Finance,
48 Boulevard des Batignolles,
75850 Paris, Cedex 17, France
Telephone: +331 5530 5900
Telefax: +331 5530 5910
Date: 10/03/2004 03:03:05 PM Produced by the JSE SENS Department
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