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VIL
VIL
Village Main - Interim Report For The Half-Year Ended 31 December 2005
VILLAGE MAIN REEF GOLD MINING COMPANY (1934) LIMITED
(Incorporated in the Republic of South Africa)
(Share code: VIL & ISIN: ZAE000007720)
(Registration number 1934/005703/06)
("the Company")
INTERIM REPORT FOR THE HALF-YEAR ENDED 31 DECEMBER 2005
BALANCE SHEET
31 December 30 June
2005 2004 2005
Unaudited Reviewed Audited
R"000 R"000 R"000
ASSETS
Non-current assets
Property, plant and equipment - 250 250
Environmental rehabilitation trust 3 112 872 869
Unlisted investment - at cost - 1 -
Current assets 2 373 4 615 4 377
Trade and other receivables 364 23 29
Cash and cash equivalents 2 009 4 592 4 348
Total assets 5 485 5 738 5 496
EQUITY AND LIABILITIES
Share capital 758 758 758
Accumulated profits 1 369 1 628 1 318
2 127 2 386 2 076
Provision for rehabilitation 3 000 3 000 3 000
Current liabilities 358 352 420
Trade and other payables 61 55 123
Unclaimed dividends 297 297 297
Total equity and liabilities 5 485 5 738 5 496
Net asset value
per share (cents) 35,05 39,32 34,21
STATEMENT OF CHANGES IN EQUITY
Balance at beginning of period 2 076 4 547 4 547
Net profit/(loss) for period 51 (2 161) (2 471)
Balance at end of period 2 217 2 386 2 076
HEADLINE EARNINGS
(Profit)/Loss per income
statement 51 (2 161) (2 471)
Profit on sale of property (100) - -
Headline loss (49) (2 161) (2 471)
INCOME STATEMENT
Half-year Year
ended ended
31 December 30 June
2005 2004 2005
Unaudited Reviewed Audited
R"000 R"000 R"000
Turnover - - -
Loss for the period (144) (2 338) (2 787)
Other income 195 177 316
Interest received 95 155 294
Sundry income - 22 22
Profit on sale of property,
plant and equipment 100 - -
Profit/(loss) before taxation 51 (2 161) (2 471)
Taxation - - -
Net profit/(loss) for the period 51 (2 161) (2 471)
Basic earnings/(loss)
per share (cents) 0,84 (35,61) (40,72)
Headline loss per share
(cents) (0,81) (35,97) (41,08)
CASH FLOW STATEMENT
Cash utilised by current
activities, net of changes
in working capital (274) (238) (643)
Interest received 95 155 294
Proceeds from the sale of
property, plant and equipment - - 22
Transfer to rehabilitation
trust fund (2 160) - -
Cash and cash
equivalents
Decrease for period (2 339) (83) (327)
Beginning of period 4 348 4 758 4 675
End of period 2 009 4 675 4 348
ACCOUNTING POLICY AND NOTES TO THE FINANCIAL STATEMENT
The financial statements are prepared on the historical cost basis and
incorporate accounting policies which are consistent with those of the previous
year. The policies are in accordance with International Financial Reporting
Standards.
ACTIVITIES
The company remained engaged in various closure activities during the reporting
period.
During this period the company disposed of its remaining freehold property for a
consideration of R350 000 as reported to shareholders on 20 December 2005.
While a surplus on realisation of R100 000 has been included in the income
statement the proceeds will only be received on transfer of the property.
A transfer of R2 160 000 was made into the rehabilitation trust fund as funding
for rehabilitation purposes.
For and on behalf of the board
R P Menell (Chairman) F Abbott (Director)
23 March 2006
Directors: R P Menell (Chairman), F Abbott, M Arnold, A N Lewis, J C Steenkamp
Secretaries: African Rainbow Minerals Limited
Registered office: 29 Impala Road, Chislehurston, Sandton, 2196
Postal address PO Box 786136, Sandton, 2146
Sponsor
NEDBANK CAPITAL
Date: 23/03/2006 10:00:03 AM Produced by the JSE SENS Department
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