Income Statement International Financial Reporting Standards Basis
SA Rand Quarter Year ended (Figures are in millions June March June
June June unless otherwise stated) 2005 2005 2004 2005 2004 Revenue
3,156.3 2,949.7 2,869.2 11,756.3 11,772.8 Operating costs 2,474.2
2,350.7 2.363.5 9,502.0 9,410.8 Gold inventory change 26.1 62.1
(39.5) (31.4) 46.9 Operating profit 656.0 536.9 545.2 2,285.7
2,315.1 Amortisation and depreciation 391.2 371.1 332.2 1,512.1
1,236.3 Net operating profit 264.8 165.8 213.0 773.6 1,078.8
Finance income 11.2 33.6 104.0 97.5 132.3 - Net interest and
investment income 15.1 33.7 27.9 80.6 29.1 - Exchange (loss)/gain
on foreign debt, net of cash (3.9) (0.1) 76.1 16.9 103.2
Gain/(loss) on financial instruments 100.3 (54.7) (71.1) 344.0
129.0 Other (expense)/income (17.6) (7.3) (31.3) (53.3) 10.1
Exploration expenditure (60.6) (42.8) (61.7) (197.4) (196.5) Profit
before tax and exceptional items 298.1 94.6 152.9 964.4 1,153.7
Exceptional loss (359.2) (86.1) (432.2) (554.7) (175.7)
(Loss)/profit before taxation (61.1) 8.5 (279.3) 409.7 978.0 Mining
and income taxation (61.7) (57.2) (124.2) 101.5 60.5 - Normal
taxation 57.3 63.1 48.3 262.1 206.6 - Deferred taxation (119.0)
(120.3) (172.5) (160.6) (146.1) Profit/(loss) after taxation 0.6
65.7 (155.1) 308.2 917.5 Minority interest 14.5 54.5 30.4 128.5
149.9 Net earnings (13.9) 11.2 (185.5) 179.7 767.6 Exceptional
items: Profit on sale of investments 10.0 1.4 - 50.3 95.6 Harmony
hostile bid costs (145.1) (87.5) - (315.5) - Profit on sale of
mineral rights - - - - 187.2 Profit on sale of exploration rights
46.6 - - 46.6 - IAMGold transaction costs 6.9 - - (57.9) - Write
off of mineral rights - - (0.1) - (24.8) Impairment of critical
spares - St Ives (17.2) - - (17.2) - Retirement of healthcare
obligations - (4.8) - (4.8) (5.0) Impairment of assets (260.9) -
(426.2) (260.9) (426.2) Other 0.5 4.8 (5.9) 4.7 (2.5) Total
exceptional items (359.2) (86.1) (432.2) (554.7) (175.7) Taxation
56.9 0.8 112.8 53.9 154.8 Net exceptional items after (302.3)
(85.3) (319.4) (500.8) (20.9) tax and minority interest Net
earnings per share (cents) (3) 2 (39) 37 158 Headline earnings
134.6 9.4 128.9 291.3 763.1 Headline earnings per share (cents) 27
2 26 59 157 Diluted earnings per share (cents) (3) 2 (40) 36 156
Net earnings excluding gains and losses on financial instruments
and foreign debt, net of cash and exceptional items 229.6 127.5
102.3 451.9 586.9 Net earnings per share excluding gains and losses
on financial instruments and foreign debt, net of cash and
exceptional items (cents) 47 26 21 92 121 Gold sold - managed kg
35,836 35,993 34,267 139,594 137,044 Gold price received R/kg
88,076 81,952 83,731 84,218 85.905 Total cash costs R/kg 67,773
64,957 66,218 66,041 67,075 Income Statement International
Financial Reporting Standards Basis US Dollar Quarter Year ended
(Figures are in millions unless June March June June June otherwise
stated) 2005 2005 2004 2005 2004 Revenue 492.4 495.2 434.3 1,893.1
1,706.2 Operating costs 385.5 395.1 357.1 1,530.1 1,363.9 Gold
inventory change 4.3 9.8 (5.5) (5.1) 6.8 Operating profit 102.6
90.3 82.7 368.1 335.5 Amortisation and depreciation 60.9 62.4 50.0
243.5 179.2 Net operating profit 41.7 27.9 32.7 124.6 156.3 Finance
income 1.6 5.7 15.1 15.7 19.2 - Net interest and investment income
2.3 5.6 4.0 13.0 4.2 - Exchange (loss)/gain on foreign debt, net of
cash (0.7) 0.1 11.1 2.7 15.0 Gain/(Loss) on financial instruments
15.7 (8.1) (9.9) 55.4 18.7 Other (expense)/income (2.8) (1.2) (4.4)
(8.6) 1.5 Exploration expenditure (9.5) (7.2) (9.2) (31.8) (28.5)
Profit before tax and exceptional items 46.7 17.1 24.3 155.3 167.2
Exceptional loss (57.5) (14.3) (62.1) (89.3) (25.5) (Loss)/profit
before taxation (10.8) 2.8 (37.8) 66.0 141.7 Mining and income
taxation (10.3) (8.7) (17.7) 16.3 8.7 - Normal taxation 8.8 10.7
7.3 42.2 29.9 - Deferred taxation (19.1) (19.4) (25.0) (25.9)
(21.2) Profit/(loss) after taxation (0.5) 11.5 (20.1) 49.7 133.0
Minority interest 2.1 9.1 4.6 20.7 21.7 Net earnings (2.6) 2.4
(24.7) 29.0 111.3 Exceptional items: Profit on sale of investments
1.5 0.4 0.2 8.1 13.9 Harmony hostile bid costs (23.0) (14.5) -
(50.8) - Profit on sale of mineral rights - - 1.9 - 27.1 Profit on
sale of exploration rights 7.5 - - 7.5 - IAMGold transaction costs
1.3 (0.2) - (9.3) - Write off of mineral rights - - (1.6) - (3.6)
Impairment of critical spares - St Ives (2.8) - - (2.8) -
Retirement of healthcare obligations - (0.8) - (0.8) (0.7)
Impairment of assets (42.0) - (61.8) (42.0) (61.8) Other - 0.8
(0.8) 0.8 (0.4) Total exceptional items (57.5) (14.3) (62.1) (89.3)
(25.5) Taxation 9.2 0.1 16.4 8.7 22.4 Net exceptional items after
tax and minority interest (48.3) (14.2) (45.7) (80.6) (3.1) Net
earnings per share (cents) - - (5) 6 23 Headline earnings 21.4 1.9
20.0 46.9 110.6 Headline earnings per share (cents) 5 - 4 10 23
Diluted earnings per share (cents) - - (5) 6 23 Net earnings
excluding gains and losses on financial instruments and foreign
debt, net of cash and exceptional items 36.6 21.0 15.9 72.8 85.1
Net earnings per share excluding gains and losses on financial
instruments and foreign debt, net of cash and exceptional items
(cents) 8 4 4 15 18 SA rand/US dollar conversion rate 6.39 5.95
6.60 6.21 6.90 Gold sold - managed ozs (000) 1,152 1,157 1,102
4,488 4,406 Gold price received $/oz 429 428 395 422 387 Total cash
costs $/oz 330 340 312 331 302 Balance Sheet International
Financial Reporting Standards Basis SA Rand US Dollars (Figures are
in millions unless otherwise stated) June June June June 2005 2004
2005 2004 Property, plant and equipment 16,959.5 15,828.6 2,531.3
2,512.5 Non-current assets 389.0 331.4 58.1 52.6 Investments 992.8
801.2 148.2 127.2 Current assets 5,656.1 6,241.9 844.2 990.8 -
Other current assets 2,281.1 2,107.4 340.5 334.5 - Cash and
deposits 3,375.0 4,134.5 503.7 656.3 Total assets 23,997.4 23,203.1
3,581.8 3,683.1 Shareholders' equity 15,724.6 14,949.3 2,347.0
2,372.9 Minority interest 809.5 662.9 120.8 105.2 Deferred taxation
3,249.8 3,336.1 485.0 529.5 Long-term loans 1,176.0 1,428.6 175.5
226.8 Environmental rehabilitation provisions 905.8 715.4 135.2
113.6 Post-retirement healthcare provisions 24.1 58.1 3.6 9.2
Current liabilities 2,107.6 2,052.7 314.7 325.9 - Other current
liabilities 1,820.1 1,846.0 271.8 293.1 - Current portion of
long-term loans 287.5 206.7 42.9 32.8 Total equity and liabilities
23,997.4 23,203.1 3,581.8 3,683.1 S.A. rand/US dollar conversion
rate 6.70 6.30 S.A. rand/Australian dollar conversion rate 5.15
4.41 Statement of changes in equity International Financial
Reporting Standards Basis SA Rand US Dollars (Figures are in
millions June June June June unless otherwise stated) 2005 2004
2005 2004 Balance as at the beginning of the financial year
14,949.3 11,295.5 2,372.9 1,450.0 Currency translation adjustment
and other 852.6 (1,031.7) (14.5) 239.4 Issue of share capital 0.4
9.5 0.1 1.4 Increase of share premium 21.7 1,567.1 3.5 227.1 Equity
component of Mvela loan - 3,130.2 - 453.7 Marked to market
valuation of 65.4 (119.8) 10.5 (17.4) listed investments Dividends
(344.5) (669.1) (54.5) (92.6) Net earnings 179.7 767.6 29.0 111.3
Balance as at the end of June 15,724.6 14,949.3 2,347.0 2,372.9
Reconciliation of headline earnings with net earnings SA Rand US
Dollars (Figures are in millions June June June June unless
otherwise stated) 2005 2004 2005 2004 Net earnings 179.7 767.6 29.0
111.3 Profit on sale of investments (50.3) (95.6) (8.1) (13.9)
Taxation effect of profit on sale of investments 3.1 19.1 0.5 2.8
Profit on sale of mineral rights - (187.2) - (27.1) Taxation effect
of sale of - (53.0) - (7.7) mineral rights Impairment of assets
260.9 426.2 42.0 61.8 Taxation effect of impairment of assets
(51.7) (111.4) (8.3) (16.1) Profit on sale of exploration (46.6) -
(7.5) - rights Asset sales and other after tax adjustments (3.8)
(2.6) (0.7) (0.5) Headline earnings 291.3 763.1 46.9 110.6 Headline
earnings per share (cents) 59 157 10 23 Based on headline earnings
as given above divided by 491,987,508 (June 2004 - 485,020,966)
being the weighted average number of ordinary shares for the year
Cash Flow Statements International Financial Reporting Standards
Basis SA Rand Quarter Year ended (Figures are in June March June
June June millions unless 2005 2005 2004 2005 2004 otherwise
stated) Cash flow from operating activities 707.9 653.2 436.3
1,792.1 1,672.3 Profit before tax and exceptional items 298.1 94.6
152.9 964.4 1,153.7 Exceptional items (359.2) (86.1) (432.2)
(554.7) (175.7) Amortisation and depreciation 391.2 371.1 332.2
1,512.1 1,236.3 Change in working capital 68.1 266.0 211.0 (11.2)
179.6 Taxation paid (69.0) (40.9) (49.4) (230.6) (522.6) Other
non-cash items 378.7 48.5 221.8 112.1 (199.0) Dividends paid (48.2)
(146.5) - (455.7) (669.1) Ordinary shareholders (0.1) (147.7) -
(344.5) (669.1) Minority shareholders (48.1) 1.2 - (111.2) - in
subsidiaries Cash utilised in investing activities (403.0) (595.1)
(998.2) (2,199.4) (3,066.0) Capital expenditure - additions (441.8)
(439.7) (937.5) (2,163.8) (2,880.1) Capital expenditure - proceeds
on disposal 23.5 - - 63.6 391.7 Purchase of investments (17.2)
(129.8) (26.5) (188.5) (706.9) Proceeds on the 19.5 5.6 - 115.7
201.9 disposal of investments Proceeds on disposal of exploration
rights 46.6 - - 46.6 - Environmental and post-retirement healthcare
payments (33.6) (31.2) (34.2) (73.0) (72.6) Cash flow from -
(125.9) 64.6 (56.9) 5,417.8 financing activities Equity portion of
Mvela loan - - - - 2,453.6 Debt portion of Mvela loan - - - -
1,653.4 Loans received 0.1 - - 16.9 - Loans repaid (0.1) (132.7)
(0.1) (206.8) (294.0) Minority shareholder's loan received - - 60.5
110.9 88.6 Shares issued - 6.8 4.2 22.1 1,516.2 Net cash
inflow/(outflow) 256.7 (214.3) (497.3) (919.9) 3,355.0 Translation
adjustment 187.5 167.6 (69.1) 160.4 (261.3) Cash at beginning of
period 2,930.8 2,977.5 4,700.9 4,134.5 1,040.8 Cash at end of
period 3,375.0 2,930.8 4,134.5 3,375.0 4,134.5 US Dollar Quarter
Year ended (Figures are in June March June June June millions
unless 2005 2005 2004 2005 2004 otherwise stated) Cash flow from
operating activities 110.2 106.2 65.9 287.4 242.4 Profit before tax
and exceptional items 46.7 17.1 24.3 155.3 167.2 Exceptional items
(57.5) (14.3) (62.1) (89.3) (25.5) Amortisation and depreciation
60.9 62.4 50.0 243.5 179.2 Change in working capital 11.1 42.4 30.5
(1.8) 26.0 Taxation paid (12.5) (8.4) (8.1) (38.4) (75.7) Other
non-cash items 61.5 7.0 31.3 18.1 (28.8) Dividends paid (7.2)
(25.1) - (71.8) (92.6) Ordinary shareholders - (25.1) - (54.5)
(92.6) Minority shareholders in subsidiaries (7.2) - - (17.3) -
Cash utilised in investing activities (61.7) (100.0) (148.7)
(354.3) (444.2) Capital expenditure - additions (67.9) (75.0)
(139.0) (348.4) (417.4) Capital expenditure - proceeds on disposal
3.7 0.1 - 10.2 56.8 Purchase of investments (2.5) (21.2) (5.2)
(30.4) (102.4) Proceeds on the disposal of investments 2.9 1.2 0.5
18.6 29.3 Proceeds on disposal of exploration rights 7.5 - - 7.5 -
Environmental and post-retirement healthcare payments (5.4) (5.1)
(5.0) (11.8) (10.5) Cash flow from financing activities 1.2 (21.0)
8.8 (9.1) 774.8 Equity portion of Mvela loan - - - - 350.5 Debt
portion of Mvela loan - - - - 236.2 Loans received - - - 2.7 -
Loans repaid 0.4 (22.1) - (33.3) (40.7) Minority shareholder's 0.8
- 5.1 17.9 9.1 loan received Shares issued - 1.1 3.7 3.6 219.7 Net
cash inflow/(outflow) 42.5 (39.9) (74.0) (147.8) 480.4 Translation
adjustment (13.0) (8.3) 9.3 (4.8) 42.3 Cash at beginning of period
474.2 522.4 721.0 656.3 133.6 Cash at end of period 503.7 474.2
656.3 503.7 656.3 Hedging / Derivatives The Group's policy is to
remain unhedged to the gold price. However, hedges are sometimes
undertaken on a project specific basis as follows: -- to protect
cash flows at times of significant expenditure, -- for specific
debt servicing requirements, and -- to safeguard the viability of
higher cost operations. Gold Fields may from time to time establish
currency financial instruments to protect underlying cash flows.
Gold Fields has various currency and interest rate financial
instruments - those remaining are described in the schedule. It has
been decided not to account for these instruments under the hedge
accounting rules of IFRS 39, except for the debt portion of the
interest rate swap which has been hedge accounted, and accordingly
the positions have been marked to market. On 7 January 2004, Gold
Fields Australia closed out its Australian dollar/United States
dollar currency financial instruments. The existing forward
purchases of Australian dollars and the put and call options were
closed out by entering into equal and opposite transactions. The
close out of the outstanding open position of US$275 million was at
an average spot rate of 0.7670 US$/A$. These transactions locked in
gross profit amounting to US$115.7 million and the underlying cash
receipts were deferred to match the maturity dates of the original
transactions. An amount of US$102.8 million had already been
accounted for up until the end of December 2003. In addition, in
order that the Group was able to participate in further Australian
dollar appreciation, a strip of quarterly maturing Australian
dollar/US dollar call options were purchased in respect of an
amount of US$275 million of which the value dates and amounts match
those of the original structure. The Australian dollar call options
resulted in a premium of US$8.3 million. The payment of the premium
will be effected so as to match the maturity dates of the original
structure. The average strike price of the options is 0.7670
US$/A$. Subsequent to this, on 7 May 2004, the future US dollar
values were fixed in Australian dollars to take advantage of the
weakened Australian dollar against the US dollar at that time. The
original value of the future cash flows was US$107.4 million or
A$140.0 million at 0.7670 US$/A$, the rate at the time of the
original transaction. The value fixed in Australian dollars
amounted to A$147 million, based on the spot rate on 7 May 2004 of
0.7158 US$/A$. The balance of A$93.0 million not yet realised in
cash is detailed below: Payment value dates Future cash flows - A$
million 30 June 2005 - received after year end 14.3 30 September
2005 14.0 30 December 2005 13.6 31 March 2006 13.3 30 June 2006
12.9 29 September 2006 12.6 29 December 2006 12.3 TOTAL 93.0 The
balance of the unmatured call options purchased at a cost of US$8.3
million are detailed below: US Dollars / Australian Dollars call
options Year ended 30 June 2006 2007 TOTAL Australian dollar call
options: Amount (US dollars) - 000's 100,000 75,000 175,000 Average
strike price -(US$/A$) 0.7670 0.7670 0.7670 The marked to market
value of all transactions making up the positions in the above
table was a positive US$4.1 million. This was based on an exchange
rate of A$/US$ 0.7684. The value was based on the prevailing
interest rates and volatilities at the time. US Dollars / Rand
forward purchases Year ended 30 June 2006 2007 TOTAL Forward
purchases: Amount (US Dollars) - 000's 30,000 - 30,000 Average rate
- (ZAR/US$) 6.9402 - 6.9402 The marked to market value of all
transactions making up the positions in the above table was a
negative R4.1 million (US$0.6 million). The value was based on an
exchange rate of ZAR/US$6.70 and the prevailing interest rates and
volatilities at the time. During the quarter the US$30 million was
rolled forward to 5 December 2005 resulting in a positive cash flow
of R25.7 million (US$4 million) at an average forward rate of
ZAR/US$6.9402. International Petroleum Exchange (IPE) Gasoil call
options Gold Fields Ghana purchased a one year Asian style (average
monthly price) call option at US$0.42 per litre (approximately
US$500 per metric ton) in respect of 51.6 million litres of diesel,
settled monthly, to protect against adverse energy price movements.
The call option resulted in a premium of US$1.66 million, paid
upfront, at a strike price of US$0.45 per litre. Year ended 30 June
2006 2007 TOTAL Amount (litres) - 000's 51,600 - 51,600 Strike
price - US$/litre 0.45 - 0.45 Conversion factor from US dollar per
metric ton to US dollar cents per litre = 1,185 i.e. US$/litre 0.45
equates to US$533 per metric ton The marked to market value of all
transactions making up the position above was a positive US$1.93
million. The value was based on an IPE Gasoil price of US$0.4498
per litre (US$533 per metric ton). The value was based on the
prevailing interest rates and volatilities at the time. Interest
rate swap In terms of the Mvela loan, GFI Mining SA pays Mvela Gold
interest on R4,139 million at a fixed interest rate, semi-annually.
The interest rate was fixed with reference to the 5 year ZAR swap
rate, at 9.6179% plus a margin of 0.95%. GFI Mining SA
simultaneously entered into an interest rate swap agreement
converting the fixed interest rate exposure to a floating rate. In
terms of the swap, GFI Mining SA was exposed to the 3 month Jibar
rate plus a margin of 1.025%. The interest rate swap was effected
to take advantage of the relatively steep yield curve. This swap
was closed out on 3 June 2005. The loan now reverts to the fixed
interest rate as mentioned above. Since the inception of this swap
up until its close out Gold Fields has realised marked to market
gains on the swap of R225 million and interest rate credits of R92
million, giving a total realised gain of R317 million. Of the R225
million realised marked to market gain, R306 million was accounted
for in fiscal 2005, offset by a R81 million loss in fiscal 2004. Of
the R92 million interest credit R80 million credit was accounted
for in earnings in fiscal 2005 compared to a R12 million credit in
fiscal 2004. Total Cash Costs Gold Institute Industry Standard (All
figures are in Rand millions unless otherwise stated) Total Mine SA
Operations Operations Total Driefontein Kloof Beatrix Operating
costs (1) June 2005 2,474.2 1,660.1 625.4 624.2 410.5 March 2005
2,350.7 1,649.1 613.9 633.7 401.5 Financial year ended 9,502.0
6,660.3 2,486.3 2,543.3 1,630.7 Gold-in-process and inventory
change* June 2005 21.5 - - - - March 2005 51.5 - - - - Financial
year ended (17.6) - - - - Less: Rehabilitation costs June 2005 11.4
9.8 2.8 5.4 1.6 March 2005 10.9 9.8 2.8 5.4 1.6 Financial year
ended 44.6 39.2 11.2 21.6 6.4 Production taxes June 2005 4.0 4.0
3.0 0.3 0.7 March 2005 7.7 7.7 3.1 3.3 1.3 Financial year ended
27.7 27.7 9.3 12.5 5.9 General and admin June 2005 90.0 56.9 24.5
19.4 13.0 March 2005 85.0 55.5 22.1 20.5 12.9 Financial year ended
342.3 223.9 92.9 80.0 51.0 Cash operating costs June 2005 2,390.3
1,589.4 595.1 599.1 395.2 March 2005 2,298.6 1,576.1 585.9 604.5
385.7 Financial year ended 9,069.8 6,369.5 2,372.9 2,429.2 1,567.4
Plus: Production taxes June 2005 4.0 4.0 3.0 0.3 0.7 March 2005 7.7
7.7 3.1 3.3 1.3 Financial year ended 27.7 27.7 9.3 12.5 5.9
Royalties June 2005 34.4 - - - - March 2005 31.7 - - - - Financial
year ended 121.3 - - - - TOTAL CASH COSTS (2) June 2005 2,428.7
1,593.4 598.1 599.4 395.9 March 2005 2,338.0 1,583.8 589.0 607.8
387.0 Financial year ended 9,218.8 6,397.2 2,382.2 2,441.7 1,573.3
Plus: Amortisation* June 2005 369.0 167.6 66.5 79.6 21.5 March 2005
356.7 169.1 62.2 85.0 21.9 Financial year ended 1,394.6 677.0 245.5
343.9 87.6 Rehabilitation June 2005 11.4 9.8 2.8 5.4 1.6 March 2005
10.9 9.8 2.8 5.4 1.6 Financial year ended 44.6 39.2 11.2 21.6 6.4
TOTAL PRODUCTION COSTS(3) June 2005 2,809.1 1,770.8 667.4 684.4
419.0 March 2005 2,705.6 1,762.7 654.0 698.2 410.5 Financial year
ended 10,658.0 7,113.4 2,638.9 2,807.2 1,667.3 Gold sold - thousand
ounces June 2005 1,152.2 686.6 297.9 225.5 163.2 March 2005 1,157.2
711.4 293.5 264.4 153.5 Financial year ended 4,488.1 2,824.1
1,162.6 1,037.1 624.3 TOTAL CASH COSTS - US$/oz June 2005 330 363
314 416 380 March 2005 340 374 337 386 424 Financial year ended 331
365 330 379 406 TOTAL PRODUCTION COSTS - US$/oz June 2005 382 404
351 475 402 March 2005 393 416 374 444 449 Financial year ended 382
406 366 436 430 Total Cash Costs Gold Institute Industry Standard
(All figures are in Rand millions unless otherwise stated)
International Operations Total Ghana Australia# Tarkwa Damang St
Ives Agnew Operating costs (1) June 2005 814.1 300.3 124.8 300.5
88.5 March 2005 701.6 246.4 99.4 285.6 70.2 Financial year ended
2,841.7 990.5 412.1 1,137.2 301.9 Gold-in-process and inventory
change* June 2005 21.5 5.6 0.3 19.5 (3.9) March 2005 51.5 3.1 9.8
36.0 2.6 Financial year ended (17.6) (6.3) 14.6 (30.4) 4.5 Less:
Rehabilitation costs June 2005 1.6 0.1 0.6 0.4 0.5 March 2005 1.1
0.2 - 0.5 0.4 Financial year ended 5.4 0.6 1.2 1.7 1.9 Production
taxes June 2005 - - - - - March 2005 - - - - - Financial year ended
- - - - - General and admin June 2005 33.1 16.5 2.7 11.0 2.9 March
2005 29.5 14.3 2.4 10.3 2.5 Financial year ended 118.4 55.2 10.9
41.4 10.9 Cash operating costs June 2005 800.9 289.3 121.8 308.6
81.2 March 2005 722.5 235.0 106.8 310.8 69.9 Financial year ended
2,700.3 928.4 414.6 1,063.7 293.6 Plus: Production taxes June 2005
- - - - - March 2005 - - - - - Financial year ended - - - - -
Royalties June 2005 34.4 16.4 4.6 9.5 3.9 March 2005 31.7 14.2 4.1
10.1 3.3 Financial year ended 121.3 53.6 19.3 35.1 13.3 TOTAL CASH
COSTS (2) June 2005 835.3 305.7 126.4 318.1 85.1 March 2005 754.2
249.2 110.9 320.9 73.2 Financial year ended 2,821.6 982.0 433.9
1,098.8 306.9 Plus: Amortisation* June 2005 201.4 62.3 9.8 129.3
March 2005 187.6 67.4 6.5 113.7 Financial year ended 717.6 234.7
35.7 447.2 Rehabilitation June 2005 1.6 0.1 0.6 0.9 March 2005 1.1
0.2 - 0.9 Financial year ended 5.4 0.6 1.2 3.6 TOTAL PRODUCTION
COSTS(3) June 2005 1,038.3 368.1 136.8 533.4 March 2005 942.9 316.8
117.4 508.7 Financial year ended 3,544.6 1,217.3 470.8 1,856.5 Gold
sold - thousand ounces June 2005 465.5 199.1 58.2 143.1 65.1 March
2005 445.8 185.0 53.9 154.1 52.8 Financial year ended 1,664.0 676.8
247.7 527.0 212.5 TOTAL CASH COSTS - US$/oz June 2005 281 240 340
348 205 March 2005 284 226 346 350 233 Financial year ended 273 234
282 336 233 TOTAL PRODUCTION COSTS - US$/oz June 2005 349 289 368
401 March 2005 355 288 366 413 Financial year ended 343 290 306 404
DEFINITIONS Total cash costs and Total production costs are
calculated in accordance with the Gold Institute industry standard.
(1) Operating costs - All gold mining related costs before
amortisation/depreciation, changes in gold inventory, taxation and
exceptional items. (2) Total cash costs - Operating costs less
off-mine costs, including general and administration costs, as
detailed in the table above. (3) Total production costs - Total
cash costs plus amortisation/depreciation and rehabilitation
provisions, as detailed in the table above. * Adjusted for
amortisation/depreciation (non-cash item) excluded from
gold-in-process change. Average exchange rates are US$1 = R6.39 and
US$1 = R5.95 for the June 2005 and March 2005 quarters respectively
and US$1 = R6.21 for the year. # As a significant portion of the
acquisition price was allocated to tenements of St Ives and Agnew
on endowment ounces and also as these two Australian operations are
entitled to transfer and then off-set tax losses from one company
to another, it is not meaningful to split the income statement
below operating profit. Operating and Financial Results SA Rand
Total Mine SA Operations Operations Total Driefontein Kloof Beatrix
Operating Results Ore milled/treated (000 tons) June 2005 12,225
3,555 1,743 902 910 March 2005 12,789 3,983 1,760 1,219 1,004
Financial year ended 47,880 15,530 6,694 4,655 4,181 Yield (grams
per ton) June 2005 2.9 6.0 5.3 7.8 5.6 March 2005 2.8 5.6 5.2 6.7
4.8 Financial year ended 2.9 5.7 5.4 6.9 4.6 Gold produced
(kilograms) June 2005 35,836 21,356 9,266 7,015 5,075 March 2005
35,993 22,126 9,129 8,223 4,774 Financial year ended 139,594 87,838
36,162 32,258 19,418 Gold sold (kilograms) June 2005 35,836 21,356
9,266 7,015 5,075 March 2005 35,993 22,126 9,129 8,223 4,774
Financial year ended 139,594 87,838 36,162 32,258 19,418 Gold price
received (Rand per kilogram) June 2005 88,076 88,200 87,794 88,411
88,650 March 2005 81,952 82,026 81,816 81,990 82,488 Financial year
ended 84,218 84,175 84,097 84,010 84,597 Total cash costs (Rand per
kilogram) June 2005 67,773 74,611 64,548 85,445 78,010 March 2005
64,957 71,581 64,520 73,915 81,064 Financial year ended 66,041
72,830 65,876 75,693 81,023 Total production costs (Rand per
kilogram) June 2005 78,388 82,918 72,027 97,562 82,562 March 2005
75,170 79,666 71,640 84,908 85,987 Financial year ended 76,350
80,983 72,974 87,023 85,864 Operating costs (Rand per ton) June
2005 202 467 359 692 451 March 2005 184 414 349 520 400 Financial
year ended 198 429 371 546 390 Financial Results (Rand million)
Revenue June 2005 3,156.3 1,883.6 813.5 620.2 449.9 March 2005
2,949.7 1,814.9 746.9 674.2 393.8 Financial year ended 11,756.3
7,393.8 3,041.1 2,710.0 1,642.7 Operating costs June 2005 2,474.2
1,660.1 625.4 624.2 410.5 March 2005 2,350.7 1,649.1 613.9 633.7
401.5 Financial year ended 9,502.0 6,660.3 2,486.3 2,543.3 1,630.7
Gold inventory change June 2005 26.1 - - - - March 2005 62.1 - - -
- Financial year ended (31.4) - - - - Operating profit June 2005
656.0 223.5 188.1 (4.0) 39.4 March 2005 536.9 165.8 133.0 40.5
(7.7) Financial year ended 2,285.7 733.5 554.8 166.7 12.0
Amortisation of mining assets # June 2005 364.4 167.6 66.5 79.6
21.5 March 2005 346.1 169.1 62.2 85.0 21.9 Financial year ended
1,408.4 677.0 245.5 343.9 87.6 Net operating profit June 2005 291.6
55.9 121.6 (83.6) 17.9 March 2005 190.8 (3.3) 70.8 (44.5) (29.6)
Financial year ended 877.3 56.5 309.3 (177.2) (75.6) Other
income/(expense) June 2005 25.7 26.1 13.9 13.2 (1.0) March 2005
(111.1) (124.3) (33.1) (38.5) (52.7) Financial year ended 108.6
55.4 31.6 32.4 (8.6) Profit before taxation June 2005 317.3 82.0
135.5 (70.4) 16.9 March 2005 79.7 (127.6) 37.7 (83.0) (82.3)
Financial year ended 985.9 111.9 340.9 (144.8) (84.2) Mining and
income taxation June 2005 (68.1) 23.5 23.8 (45.0) 44.7 March 2005
(73.8) (82.9) (13.6) (37.8) (31.5) Financial year ended 50.2 (52.6)
38.0 (97.1) 6.5 - Normal taxation June 2005 39.0 2.8 39.6 - (36.8)
March 2005 34.1 - - - - Financial year ended 170.7 2.8 39.6 -
(36.8) - Deferred June 2005 (107.1) 20.7 (15.8) (45.0) 81.5 March
2005 (107.9) (82.9) (13.6) (37.8) (31.5) Financial year ended
(120.5) (55.4) (1.6) (97.1) 43.3 Profit before exceptional items
June 2005 385.4 58.5 111.7 (25.4) (27.8) March 2005 153.5 (44.7)
51.3 (45.2) (50.8) Financial year ended 935.7 164.5 302.9 (47.7)
(90.7) Exceptional items June 2005 (160.1) (84.2) (13.2) (12.6)
(58.4) March 2005 - - - - - Financial year ended (160.1) (84.2)
(13.2) (12.6) (58.4) Net profit June 2005 225.3 (25.7) 98.5 (38.0)
(86.2) March 2005 153.5 (44.7) 51.3 (45.2) (50.8) Financial year
ended 775.6 80.3 289.7 (60.3) (149.1) Net profit excluding gains
and losses on financial instruments and foreign debt and
exceptional items June 2005 279.9 (30.1) 89.6 (49.2) (70.5) March
2005 193.3 (0.9) 64.7 (30.2) (35.4) Financial year ended 674.6
(52.5) 241.3 (115.3) (178.5) Capital expenditure June 2005 414.1
174.5 74.8 47.9 51.8 March 2005 378.1 150.2 36.9 60.5 52.8
Financial year ended 2,013.3 635.6 184.1 230.1 221.4 Planned for
next six months to December 2005 876.0 401.9 150.1 122.2 129.6
PRNewswire -- Aug. 4 SECOND AND FINAL ADD -- TABULAR MATERIAL II --
TO FOLLOW DATASOURCE: Gold Fields Limited Web site:
http://www.goldfields.co.za/ http://www.gold-fields.com/
Copyright