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HAR
HAPS
Harmony Gold Mining Limited - Total Operations
HARMONY GOLD MINING LIMITED
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
Share Code: HAR
Issuer Code: HAPS
ISIN: ZAE000015228
Total Operations - YEAR TO DATE Financial Results (Rand/metric) (unaudited)
Year to date Year to date
31 March 31 March
2006 2005
(restated)
Ore milled t"000 13 923 17 943
Gold produced kg 56 999 71 552
Gold price received R/kg 101 282 83 450
Cash operating costs R/kg 87 019 73 751
R million R million
Revenue 5 773 5 971
Cash operating costs (1) 4 960 5 277
Cash operating profit 813 694
Amortisation and depreciation
of mining properties, mine
development costs and mine
plant facilities (1) (763) (799)
Corporate, administration
and other expenditure (134) (125)
Provision for rehabilitation costs (6) (42)
Operating loss (90) (272)
Amortisation and depreciation
other than mining properties,
mine development costs and
mine plant facilities (38) (25)
Employment termination
and restructuring costs 86 (322)
Care and maintenance costs (145) (112)
Share based compensation (93) (49)
Exploration expenditure (71) (57)
Profit on sale of investment
in Gold Fields 306 -
Mark-to-market of
listed investments 65 -
Interest paid (290) (300)
Interest received 171 87
Other expenses - net (9) (30)
(Loss)/gain on financial instruments (558) 23
(Loss)/gain on foreign exchange (2) 34
Loss on sale of listed investments
and subsidiaries (1) -
Profit on Australian-listed
investments - 4
Loss on sale of listed investments
and subsidiaries - (111)
Impairment of fixed assets - (1 513)
Loss before tax (669) (2 643)
Current tax - (expense)/benefit (5) 34
Deferred tax - benefit (1) 190 474
Net loss (484) (2 135)
(1) The change in accounting policy
on capitalisation of mine
development costs had the following
effect:
- Cash operating costs - decrease 455 453
- Amortisation and depreciation of
mining properties, mine
development costs and mine plant
facilities (234) (172)
- Deferred tax - expense (46) (53)
- Net effect of change in accounting
policy 175 228
The effects of the change in policy are in the process of being audited. The
company does not expect any material change to arise from the audit.
Total Operations - YEAR TO DATE Financial Results (Rand/metric) (unaudited)
Year to date Year to date
31 March 31 March
2006 2005
(restated)
Loss per share - cents*
- Basic loss (123) (605)
- Headline loss (211) (255)
- Fully diluted loss** *** (123) (605)
Dividends per share - (cents)
- Interim - -
- Proposed final - -
* Calculated on weighted average number of shares in issue for 9 months to
March 2006: 392.9 million (March 2005: 352.7 million).
** Calculated on weighted average number of diluted shares in issue for
9 months to March 2006: 398.1 million (March 2005: 352.7 million).
*** The effect of the share options is anti-dilutive.
Reconciliation of headline loss:
Net loss (484) (2 135)
Adjustments:
- Profit on sale of assets (40) (52)
- Profit on Australian listed investments - (4)
- Loss on sale of ARM ltd - net of tax - 111
- Loss on disposal of Sangold investment 1 -
- Profit on disposal of investment in Gold
Fields (306) -
- Impairment of fixed assets - net of tax - 1 182
Headline loss (829) (898)
Date: 05/05/2006 02:45:53 PM Produced by the JSE SENS Department
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