Income statement International Financial Reporting Standards Basis
Figures are in millions unless otherwise stated South African Rand
Quarter Restated Restated September June September 2005 2005 2004
Revenue 3,022.5 3,156.3 2,704.8 Operating costs 2,457.3 2,474.2
2,335.9 Gold inventory change 10.9 26.1 (87.1) Operating profit
554.3 656.0 456.0 Amortisation and depreciation 353.4 391.2 370.7
Net operating profit 200.9 264.8 85.3 Finance (cost)/income (0.1)
11.2 32.3 - Net interest received 0.8 15.1 16.3 - (Loss)/gain on
foreign debt, net of cash (0.9) (3.9) 16.0 (Loss)/gain on financial
instruments (8.8) 100.3 151.7 Other expense (18.8) (30.6) (17.5)
Exploration (66.2) (60.6) (54.9) Profit before tax and exceptional
items 107.0 285.1 196.9 Exceptional gain/(loss) 2.7 (359.2) -
Profit before taxation 109.7 (74.1) 196.9 Mining and income
taxation 45.0 (61.7) 85.9 - Normal taxation 74.0 57.3 63.3 -
Deferred taxation (29.0) (119.0) 22.6 Net profit 64.7 (12.4) 111.0
Attributable to: - ordinary shareholders 39.2 (26.9) 89.1 -
minority shareholders 25.5 14.5 21.9 Exceptional items: Profit on
sale of investments 1.8 10.0 - Harmony hostile bid costs - (145.1)
- Profit on sale of exploration rights - 46.6 - IAMGold transaction
costs - 6.9 - Impairment of critical spares - St Ives - (17.2) -
Impairment of assets - (260.9) - Other 0.9 0.5 - Total exceptional
items 2.7 (359.2) - Taxation (0.6) 56.9 - Net exceptional items
after tax and minorities 2.1 (302.3) - Net earnings 39.2 (26.9)
89.1 Net earnings per share (cents) 8 (6) 18 Headline earnings 36.2
121.6 89.1 Headline earnings per share (cents) 7 24 18 Diluted
earnings per share (cents) 8 (6) 17 Net earnings excluding gains
and losses on financial instruments and foreign debt, net of cash
and exceptional items 43.7 216.6 (18.5) Net earnings per share
excluding gains and losses on financial instruments and foreign
debt, net of cash and exceptional items (cents) 9 44 (4) Gold sold
- managed kg 32,972 35,836 33,060 Gold price received R/kg 91,669
88,076 81,815 Total cash costs R/kg 72,768 67,773 66,516 Income
statement International Financial Reporting Standards Basis Figures
are in millions unless otherwise stated United States Dollars
Quarter Restated Restated September June September 2005 2005 2004
Revenue 463.6 492.4 425.3 Operating costs 376.9 385.5 367.3 Gold
inventory change 1.7 4.3 (13.7) Operating profit 85.0 102.6 71.7
Amortisation and depreciation 54.2 60.9 58.3 Net operating profit
30.8 41.7 13.4 Finance (cost)/income - 1.6 5.1 - Net interest
received 0.1 2.3 2.6 - (Loss)/gain on foreign debt, net of cash
(0.1) (0.7) 2.5 (Loss)/gain on financial instruments (1.3) 15.7
23.9 Other expense (2.9) (4.8) (2.7) Exploration (10.2) (9.5) (8.6)
Profit before tax and exceptional items 16.4 44.7 31.1 Exceptional
gain/(loss) 0.4 (57.5) - Profit before taxation 16.8 (12.8) 31.1
Mining and income taxation 6.9 (10.3) 13.6 - Normal taxation 11.3
8.8 10.0 - Deferred taxation (4.4) (19.1) 3.6 Net profit 9.9 (2.5)
17.5 Attributable to: - ordinary shareholders 6.0 (4.6) 14.1 -
minority shareholders 3.9 2.1 3.4 Exceptional items: Profit on sale
of investments 0.3 1.5 - Harmony hostile bid costs - (23.0) -
Profit on sale of exploration rights - 7.5 - IAMGold transaction
costs - 1.3 - Impairment of critical spares - St Ives - (2.8) -
Impairment of assets - (42.0) - Other 0.1 - - Total exceptional
items 0.4 (57.5) - Taxation (0.1) 9.2 - Net exceptional items after
tax and minorities 0.3 (48.3) - Net earnings 6.0 (4.6) 14.1 Net
earnings per share (cents) 1 (1) 3 Headline earnings 5.6 19.4 14.1
Headline earnings per share (cents) 1 4 3 Diluted earnings per
share (cents) 1 - 3 Net earnings excluding gains and losses on
financial instruments and foreign debt, net of cash and exception
items 6.7 34.6 (2.9) Net earnings per share excluding gains and
losses on financial instruments and foreign debt, net of cash and
exceptional items (cents) 1 7 (1) South African rand/United States
dollar conversion rate 6.52 6.39 6.36 South African rand/Australian
dollar conversion rate 4.96 4.91 4.50 Gold sold - managed ozs (000)
1,060 1,152 1,063 Gold price received $/oz 437 429 400 Total cash
costs $/oz 347 330 325 Balance sheet International Financial
Reporting Standards Basis Figures are in millions otherwise stated
South African Rand Restated September June 2005 2005 Property,
plant and equipment 16,549.6 16,959.5 Non-current assets 396.0
389.0 Investments 1,049.9 992.8 Current assets 5,046.3 5,656.1 -
Other current assets 2,246.7 2,281.1 - Cash and deposits 2,799.6
3,375.0 Total assets 23,041.8 23,997.4 Shareholders' equity
15,886.3 16,534.1 Deferred taxation 3,178.0 3,249.8 Long-term loans
1,020.4 1,176.0 Environmental rehabilitation provisions 880.1 905.8
Post-retirement health care provisions 23.7 24.1 Current
liabilities 2,053.3 2,107.6 - Other current liabilities 1,750.2
1,820.1 - Current portion of long-term loans 303.1 287.5 Total
equity and liabilities 23,041.8 23,997.4 South African rand/US
dollar conversion rate South African rand/Australian dollar
conversion rate United States Dollars Restated September June 2005
2005 Property, plant and equipment 2,614.5 2,531.3 Non-current
assets 62.6 58.1 Investments 165.9 148.2 Current assets 797.2 844.2
- Other current assets 354.9 340.5 - Cash and deposits 442.3 503.7
Total assets 3,640.2 3,581.8 Shareholders' equity 2,509.7 2,467.8
Deferred taxation 502.1 485.0 Long-term loans 161.2 175.5
Environmental rehabilitation provisions 139.0 135.2 Post-retirement
health care provisions 3.7 3.6 Current liabilities 324.5 314.7 -
Other current liabilities 276.6 271.8 - Current portion of
long-term loans 47.9 42.9 Total equity and liabilities 3,640.2
3,581.8 South African rand/US dollar conversion rate 6.33 6.70
South African rand/Australian dollar conversion rate 4.82 5.15
Condensed statement of changes in equity International Financial
Reporting Standards Basis Figures are in millions otherwise stated
South African Rand Restated September September 2005 2004 Balance
as at the beginning of the financial year 16,534.1 14,949.3
Minority shareholders interest now reflected in shareholders equity
- 662.9 Restated balance at the beginning of the financial year
16,534.1 15,612.2 Currency translation adjustment and other (516.2)
289.6 (Cancellation)/issue of share capital (0.3) 0.1
(Decrease)/increase of share premium (66.3) 7.1 Marked to market
valuation of listed investments and instruments 51.5 (53.4)
Dividends (196.8) (196.7) Increase in share based payment reserve
15.6 13.0 Net profit attributable to ordinary shareholders 39.2
89.1 Net profit attributable to minority shareholders 25.5 21.9
Balance as at the end of September 15,886.3 15,782.9 United States
Dollars Restated September September 2005 2004 Balance as at the
beginning of the financial year 2,467.8 2,372.9 Minority
shareholders interest now reflected in shareholders equity - 105.2
Restated balance at the beginning of the financial year 2,467.8
2,478.1 Currency translation adjustment and other 61.2 (33.0)
(Cancellation)/issue of share capital - - (Decrease)/increase of
share premium (10.2) 1.1 Marked to market valuation of listed
investments and instruments 7.9 (8.4) Dividends (29.4) (29.4)
Increase in share based payment reserve 2.5 2.1 Net profit
attributable to ordinary shareholders 6.0 14.1 Net profit
attributable to minority shareholders 3.9 3.5 Balance as at the end
of September 2,509.7 2,428.1 Reconciliation of headline earnings
with net earnings Figures are in millions otherwise stated South
African Rand Restated Restated September June September 2005 2005
2004 Net earnings 39.2 (26.9) 89.1 Profit on sale of investments
(1.8) (10.0) - Taxation effect of profit on sale of investments 0.3
(1.1) - Impairment of assets - 260.9 - Taxation effect of
impairment of assets - (51.7) - Profit on sale of exploration
rights - (46.6) - Asset sales and other after tax adjustments (1.5)
(3.0) Headline earnings 36.2 121.6 89.1 Headline earnings per share
- cents 7 24 18 Based on headline earnings as given above divided
by 491,515,569 (June 2005 - 492,294,226 and September 2004 -
491,604,675) being the weighted average number of ordinary shares
in issue United States Dollars Restated Restated September June
September 2005 2005 2004 Net earnings 6.0 (4.6) 14.1 Profit on sale
of investments (0.3) (1.5) - Taxation effect of profit on sale of
investments - (0.2) - Impairment of assets - 42.0 - Taxation effect
of impairment of assets - (8.3) - Profit on sale of exploration
rights - (7.5) - Asset sales and other after tax adjustments (0.1)
(0.5) Headline earnings 5.6 19.4 14.1 Headline earnings per share -
cents 1 4 3 Based on headline earnings as given above divided by
491,515,569 (June 2005 - 492,294,226 and September 2004 -
491,604,675) being the weighted average number of ordinary shares
in issue Cash flow statement International Financial Reporting
Standards Basis Figures are in millions unless otherwise stated
South African Rand Quarter Restated Restated September June
September 2005 2005 2004 Cash flows from operating activities 302.8
707.9 197.6 Profit before tax and exceptional items 107.0 285.1
196.9 Exceptional items 2.7 (359.2) - Amortisation and depreciation
353.4 391.2 370.7 Change in working capital (120.4) 68.1 (182.9)
Taxation paid (77.7) (69.0) (51.4) Other non-cash items 37.8 391.7
(135.7) Dividends paid (196.8) (48.2) (261.0) Ordinary shareholders
(196.8) (0.1) (196.7) Minority shareholders in subsidiaries -
(48.1) (64.3) Cash flows from investing activities (330.6) (403.0)
(775.9) Capital expenditure - additions (325.2) (441.8) (754.7)
Capital expenditure - proceeds on disposal 4.2 23.5 3.0 Purchase of
investments (12.1) (17.2) (20.8) Proceeds on the disposal of
investments 8.4 19.5 2.2 Proceeds on the disposal of exploration
rights - 46.6 - Environmental and post-retirement health care
payments (5.9) (33.6) (5.6) Cash flows from financing activities
(206.6) - 44.1 Loans received - 0.1 - Loans repaid (140.0) (0.1)
(74.0) Minority shareholders loans received - - 110.9 Shares
(repurchased)/issued (66.6) - 7.2 Net cash (outflow)/inflow (431.2)
256.7 (795.2) Translation adjustment (144.2) 187.5 69.4 Cash at
beginning of period 3,375.0 2,930.8 4,134.5 Cash at end of period
2,799.6 3,375.0 3,408.7 United States Dollars Quarter Restated
Restated September June September 2005 2005 2004 Cash flows from
operating activities 47.0 110.2 30.6 Profit before tax and
exceptional items 16.4 44.7 31.1 Exceptional items 0.4 (57.5) -
Amortisation and depreciation 54.2 60.9 58.3 Change in working
capital (18.5) 11.1 (28.8) Taxation paid (11.3) (12.5) (8.6) Other
non-cash items 5.8 63.5 (21.4) Dividends paid (29.4) (7.2) (39.5)
Ordinary shareholders (29.4) - (29.4) Minority shareholders in
subsidiaries - (7.2) (10.1) Cash flows from investing activities
(50.8) (61.7) (122.1) Capital expenditure - additions (49.9) (67.9)
(118.7) Capital expenditure - proceeds on disposal 0.6 3.7 0.5
Purchase of investments (1.9) (2.5) (3.3) Proceeds on the disposal
of investments 1.3 2.9 0.3 Proceeds on the disposal of exploration
rights - 7.5 - Environmental and post-retirement health care
payments (0.9) (5.4) (0.9) Cash flows from financing activities
(31.7) 1.2 6.6 Loans received - - - Loans repaid (21.5) 0.4 (11.6)
Minority shareholders loans received - 0.8 17.1 Shares
(repurchased)/issued (10.2) - 1.1 Net cash (outflow)/inflow (64.9)
42.5 (124.4) Translation adjustment 3.5 (13.0) (7.5) Cash at
beginning of period 503.7 474.2 656.3 Cash at end of period 442.3
503.7 524.4 Hedging / Derivatives Policy 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 IAS 39 and accordingly the positions have
been marked to market. Position at end of September 2005 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$78.7 million not yet
realised in cash is detailed below: Payment value dates Future cash
flows - A$ million 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 78.7 The balance of the unmatured call
options purchased at a total cost of US$8.3 million, are detailed
below: US Dollars / Australian Dollars call options Year ended 30
June 2006 2007 TOTAL Australian dollar call options: Amount (US
dollars) - 000's 75,000 75,000 150,000 Average strike price -
(US$/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$2.8 million. This was based on an exchange rate of
A$/US$ 0.7615. 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 R17.1 million (US$2.7
million). The value was based on an exchange rate of ZAR/US$6.33
and the prevailing interest rates and volatilities at the time.
International Petroleum Exchange (IPE) Gasoil call options Gold
Fields Ghana purchased a one year Asian style (average monthly
price) call option at the spot price ruling on that day of 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$0.45 per litre. The balance of the unexpired options are given
below. Year ended 30 June 2006 2007 TOTAL Forward purchases: Amount
(litres) - 000's 38,700 - 38,700 Strike price - US$/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$2.84 million. The value was
based on an IPE Gasoil price of US$0.497 per litre (US$589 per
metric ton). The value was based on the prevailing interest rates
and volatilities at the time. Total cash costs Gold Institute
Industry Standard All figures are in Rand millions unless otherwise
stated Total Mine Operations Operating costs (1) September 2005
2,457.3 June 2005 2,474.2 Gold-in-process and inventory change
September 2005 11.5 June 2005 21.5 Less: Rehabilitation costs
September 2005 9.8 June 2005 11.4 Production taxes September 2005
8.8 June 2005 4.0 General and admin September 2005 92.1 June 2005
90.0 Cash operating costs September 2005 2,358.1 June 2005 2,390.3
Plus: Production taxes September 2005 8.8 June 2005 4.0 Royalties
September 2005 32.4 June 2005 34.4 TOTAL CASH COSTS (2) September
2005 2,399.3 June 2005 2,428.7 Plus: Amortisation* September 2005
327.9 June 2005 369.0 Rehabilitation September 2005 9.8 June 2005
11.4 TOTAL PRODUCTION COSTS (3) September 2005 2,737.0 June 2005
2,809.1 Gold sold - thousand ounces September 2005 1,060.1 June
2005 1,152.2 TOTAL CASH COSTS - US$/oz September 2005 347 June 2005
330 TOTAL PRODUCTION COSTS - US$/oz September 2005 396 June 2005
382 South African Operations Total Driefontein Kloof Beatrix
Operating costs (1) September 2005 1,671.6 656.0 624.7 390.9 June
2005 1,660.1 625.4 624.2 410.5 Gold-in-process and inventory
change* September 2005 - - - - June 2005 - - - - Less:
Rehabilitation costs September 2005 9.4 2.8 4.1 2.5 June 2005 9.8
2.8 5.4 1.6 Production taxes September 2005 8.8 4.1 3.8 0.9 June
2005 4.0 3.0 0.3 0.7 General and admin September 2005 56.8 23.3
20.9 12.6 June 2005 56.9 24.5 19.4 13.0 Cash operating costs
September 2005 1,596.6 625.8 595.9 374.9 June 2005 1,589.4 595.1
599.1 395.2 Plus: Production taxes September 2005 8.8 4.1 3.8 0.9
June 2005 4.0 3.0 0.3 0.7 Royalties September 2005 - - - - June
2005 - - - - TOTAL CASH COSTS (2) September 2005 1,605.4 629.9
599.7 375.8 June 2005 1,593.4 598.1 599.4 395.9 Plus: Amortisation*
September 2005 141.2 61.3 58.3 21.6 June 2005 167.6 66.5 79.6 21.5
Rehabilitation September 2005 9.4 2.8 4.1 2.5 June 2005 9.8 2.8 5.4
1.6 TOTAL PRODUCTION COSTS (3) September 2005 1,756.0 694.0 662.1
399.9 June 2005 1,770.8 667.4 684.4 419.0 Gold sold - thousand
ounces September 2005 646.8 289.8 218.4 138.6 June 2005 686.6 297.9
225.5 163.2 TOTAL CASH COSTS - US$/oz September 2005 381 333 421
416 June 2005 363 314 416 380 TOTAL PRODUCTION COSTS - US$/oz
September 2005 416 367 465 442 June 2005 404 351 475 402
International Operations Ghana Australia # Total Tarkwa Damang St
Ives Agnew Operating costs (1) September 2005 785.7 318.2 124.1
244.3 99.1 June 2005 814.1 300.3 124.8 300.5 88.5 Gold-in-process
and inventory change* September 2005 11.5 (2.8) 13.4 3.8 (2.9) June
2005 21.5 5.6 0.3 19.5 (3.9) Less: Rehabilitation costs September
2005 0.4 0.4 - - - June 2005 1.6 0.1 0.6 0.4 0.5 Production taxes
September 2005 - - - - - June 2005 - - - - - General and admin
September 2005 35.3 15.7 2.9 9.3 7.4 June 2005 33.1 16.5 2.7 11.0
2.9 Cash operating costs September 2005 761.5 299.3 134.6 238.8
88.8 June 2005 800.9 289.3 121.8 308.6 81.2 Plus: Production taxes
September 2005 - - - - - June 2005 - - - - - Royalties September
2005 32.4 14.9 5.2 7.9 4.4 June 2005 34.4 16.4 4.6 9.5 3.9 TOTAL
CASH COSTS (2) September 2005 793.9 314.2 139.8 246.7 93.2 June
2005 835.3 305.7 126.4 318.1 85.1 Plus: Amortisation* September
2005 186.7 60.5 7.2 119.0 June 2005 201.4 62.3 9.8 129.3
Rehabilitation September 2005 0.4 0.4 - - June 2005 1.6 0.1 0.6 0.9
TOTAL PRODUCTION COSTS (3) September 2005 981.0 375.1 147.0 458.9
June 2005 1,038.3 368.1 136.8 533.4 Gold sold - thousand ounces
September 2005 413.2 174.2 57.2 119.8 62.0 June 2005 465.5 199.1
58.2 143.1 65.1 TOTAL CASH COSTS - US$/oz September 2005 295 277
375 316 230 June 2005 281 240 340 348 205 TOTAL PRODUCTION COSTS -
US$/oz September 2005 364 330 394 387 June 2005 349 289 368 401
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 = R6.52 and US$1 =
R6.39 for the September 2005 and June 2005 quarters respectively. #
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 South African Rand Total Mine
Operations Operating Results Ore milled/treated (000 tons)
September 2005 11,888 June 2005 12,225 Yield (grams per ton)
September 2005 2.8 June 2005 2.9 Gold produced (kilograms)
September 2005 32,972 June 2005 35,386 Gold sold (kilograms)
September 2005 32,972 June 2005 35,836 Gold price received (Rand
per kilogram) September 2005 91,669 June 2005 88,076 Total cash
costs (Rand per kilogram) September 2005 72,768 June 2005 67,773
Total production costs (Rand per kilogram) September 2005 83,010
June 2005 78,388 Operating costs (Rand per ton) September 2005 207
June 2005 202 Financial Results (Rand million) Revenue September
2005 3,022.5 June 2005 3,156.3 Operating costs September 2005
2,457.3 June 2005 2,474.2 Gold inventory change September 2005 10.9
June 2005 26.1 Operating profit September 2005 554.3 June 2005
656.0 Amortisation of mining assets September 2005 328.5 June 2005
364.4 Net operating profit September 2005 225.8 June 2005 291.6
Other income/(expense) September 2005 (26.1) June 2005 25.7 Profit
before taxation September 2005 199.7 June 2005 317.3 Mining and
income taxation September 2005 49.9 June 2005 (68.1) - Normal
taxation September 2005 69.7 June 2005 39.0 - Deferred taxation
September 2005 (19.8) June 2005 (107.1) Profit before exceptional
items September 2005 149.8 June 2005 385.4 Exceptional items
September 2005 0.8 June 2005 (160.1) Net profit September 2005
150.6 June 2005 225.3 Net profit excluding gains and losses on
financial instruments and foreign debt and exceptional items
September 2005 144.4 June 2005 279.9 Capital expenditure September
2005 315.4 June 2005 414.1 Planned for next six months to March
2006 928.3 South African Operations South African Rand Total
Driefontein Kloof Beatrix Operating Results Ore milled/treated (000
tons) September 2005 3,320 1,614 875 831 June 2005 3,555 1,743 902
910 Yield (grams per ton) September 2005 6.1 5.6 7.8 5.2 June 2005
6.0 5.3 7.8 5.6 Gold produced (kilograms) September 2005 20,119
9,015 6,792 4,312 June 2005 21,356 9,266 7,015 5,075 Gold sold
(kilograms) September 2005 20,119 9,015 6,792 4,312 June 2005
21,356 9,266 7,015 5,075 Gold price received (Rand per kilogram)
September 2005 91,535 91,425 91,431 91,929 June 2005 88,200 87,794
88,411 88,650 Total cash costs (Rand per kilogram) September 2005
79,795 69,872 88,295 87,152 June 2005 74,611 64,548 85,445 78,010
Total production costs (Rand per kilogram) September 2005 87,281
76,983 97,482 92,741 June 2005 82,918 72,027 97,562 82,562
Operating costs (Rand per ton) September 2005 503 406 714 470 June
2005 467 359 692 451 Financial Results (Rand million) Revenue
September 2005 1,841.6 824.2 621.0 396.4 June 2005 1,883.6 813.5
620.2 449.9 Operating costs September 2005 1,671.6 656.0 624.7
390.9 June 2005 1,660.1 625.4 624.2 410.5 Gold inventory change
September 2005 - - - - June 2005 - - - - Operating profit September
2005 170.0 168.2 (3.7) 5.5 June 2005 223.5 188.1 (4.0) 39.4
Amortisation of mining assets September 2005 141.2 61.3 58.3 21.6
June 2005 167.6 66.5 79.6 21.5 Net operating profit September 2005
28.8 106.9 (62.0) (16.1) June 2005 55.9 121.6 (83.6) 17.9 Other
income/(expense) September 2005 (38.5) (11.3) (12.2) (15.0) June
2005 26.1 13.9 13.2 (1.0) Profit before taxation September 2005
(9.7) 95.6 (74.2) (31.1) June 2005 82.0 135.5 (70.4) 16.9 Mining
and income taxation September 2005 (35.4) 14.2 (36.8) (12.8) June
2005 23.5 23.8 (45.0) 44.7 - Normal taxation September 2005 13.4
13.4 - - June 2005 2.8 39.6 - (36.8) - Deferred taxation September
2005 (48.8) 0.8 (36.8) (12.8) June 2005 20.7 (15.8) (45.0) 81.5
Profit before exceptional items September 2005 25.7 81.4 (37.4)
(18.3) June 2005 58.5 111.7 (25.4) (27.8) Exceptional items
September 2005 0.4 - - 0.4 June 2005 (84.2) (13.2) (12.6) (58.4)
Net profit September 2005 26.1 81.4 (37.4) (17.9) June 2005 (25.7)
98.5 (38.0) (86.2) Net profit excluding gains and losses on
financial instruments and foreign debt and exceptional items
September 2005 25.9 81.4 (37.4) (18.1) June 2005 (30.1) 89.6 (49.2)
(70.5) Capital expenditure September 2005 133.4 46.7 42.7 44.0 June
2005 174.5 74.8 47.9 51.8 Planned for next six months to March 2006
392.6 156.6 117.8 118.2 Operating and financial results South
African Rand Total Operating Results Ore milled/treated (000 tons)
September 2005 8,568 June 2005 8,670 Yield (grams per ton)
September 2005 1.5 June 2005 1.7 Gold produced (kilograms)
September 2005 12,853 June 2005 14,480 Gold sold (kilograms)
September 2005 12,853 June 2005 14,480 Gold price received (Rand
per kilogram) September 2005 91,877 June 2005 87,894 Total cash
costs (Rand per kilogram) September 2005 61,768 June 2005 57,686
Total production costs (Rand per kilogram) September 2005 76,325
June 2005 71,706 Operating costs (Rand per ton) September 2005 92
June 2005 94 Financial Results (Rand million) Revenue September
2005 1,180.9 June 2005 1,272.7 Operating costs September 2005 785.7
June 2005 814.1 Gold inventory change September 2005 10.9 June 2005
26.1 Operating profit September 2005 384.3 June 2005 432.5
Amortisation of mining assets September 2005 187.3 June 2005 196.8
Net operating profit September 2005 197.0 June 2005 235.7 Other
income/(expense) September 2005 12.4 June 2005 (0.4) Profit before
taxation September 2005 209.4 June 2005 235.3 Mining and income
taxation September 2005 85.3 June 2005 (91.6) - Normal taxation
September 2005 56.3 June 2005 36.2 - Deferred taxation September
2005 29.0 June 2005 (127.8) Profit before exceptional items
September 2005 124.1 June 2005 326.9 Exceptional items September
2005 0.4 June 2005 (75.9) Net profit September 2005 124.5 June 2005
251.0 Net profit excluding gains and losses on financial
instruments and foreign debt and exceptional items September 2005
118.5 June 2005 310.0 Capital expenditure September 2005 182.0 June
2005 239.6 Planned for next six months to March 2006 535.7
International Operations South African Rand Ghana Australia #
Tarkwa Damang St Ives Agnew Operating Results Ore milled/treated
(000 tons) September 2005 5,275 1,327 1,641 325 June 2005 5,395
1,262 1,697 316 Yield (grams per ton) September 2005 1.0 1.3 2.3
5.9 June 2005 1.1 1.4 2.6 6.4 Gold produced (kilograms) September
2005 5,418 1,779 3,727 1,929 June 2005 6,193 1,811 4,452 2,024 Gold
sold (kilograms) September 2005 5,418 1,779 3,727 1,929 June 2005
6,193 1,811 4,452 2,024 Gold price received (Rand per kilogram)
September 2005 91,602 91,793 92,058 92,379 June 2005 87,986 88,570
87,893 87,006 Total cash costs (Rand per kilogram) September 2005
57,992 78,583 66,193 48,315 June 2005 49,362 69,796 71,451 42,045
Total production costs (Rand per kilogram) September 2005 69,232
82,631 81,135 June 2005 59,438 75,538 82,366 Operating costs (Rand
per ton) September 2005 60 94 149 305 June 2005 56 99 177 280
Financial Results (Rand million) Revenue September 2005 496.3 163.3
343.1 178.2 June 2005 544.9 160.4 391.3 176.1 Operating costs
September 2005 318.2 124.1 244.3 99.1 June 2005 300.3 124.8 300.5
88.5 Gold inventory change September 2005 (3.5) 13.4 5.0 (4.0) June
2005 5.9 0.3 26.3 (6.4) Operating profit September 2005 181.6 25.8
93.8 83.1 June 2005 238.7 35.3 64.5 94.0 Amortisation of mining
assets September 2005 61.2 7.2 118.9 June 2005 62.0 9.8 125.0 Net
operating profit September 2005 120.4 18.6 58.0 June 2005 176.7
25.5 33.5 Other income/(expense) September 2005 9.9 4.4 (1.9) June
2005 5.3 3.7 (9.4) Profit before taxation September 2005 130.3 23.0
56.1 June 2005 182.0 29.2 24.1 Mining and income taxation September
2005 48.9 10.4 26.0 June 2005 64.7 15.9 (172.2) - Normal taxation
September 2005 38.8 5.2 12.3 June 2005 19.8 3.0 13.4 - Deferred
taxation September 2005 10.1 5.2 13.7 June 2005 44.9 12.9 (185.6)
Profit before exceptional items September 2005 81.4 12.6 30.1 June
2005 117.3 13.3 196.3 Exceptional items September 2005 (1.3) - 1.7
June 2005 (0.7) - (75.2) Net profit September 2005 80.1 12.6 31.8
June 2005 116.6 13.3 121.1 Net profit excluding gains and losses on
financial instruments and foreign debt and exceptional items
September 2005 75.6 9.9 33.0 June 2005 116.2 12.9 180.9 Capital
expenditure September 2005 46.7 24.8 80.8 29.7 June 2005 100.7 16.7
86.0 36.2 Planned for next six months to March 2006 183.8 91.6
188.7 71.6 # 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 Total Mine United States Dollars
Operations Operating Results Ore milled/treated (000 tons)
September 2005 11,888 June 2005 12,225 Yield (ounces per ton)
September 2005 0.089 June 2005 0.094 Gold produced (000 ounces)
September 2005 1,060.1 June 2005 1,152.2 Gold sold (000 ounces)
September 2005 1,060.1 June 2005 1,152.2 Gold price received
(dollars per ounce) September 2005 437 June 2005 429 Total cash
costs (dollars per ounce) September 2005 347 June 2005 330 Total
production costs (dollars per ounce) September 2005 396 June 2005
382 Operating costs (dollars per ton) September 2005 32 June 2005
32 Financial Results ($ million) Revenue September 2005 463.6 June
2005 492.5 Operating costs September 2005 376.9 June 2005 385.5
Gold inventory change September 2005 1.7 June 2005 4.3 Operating
profit September 2005 85.0 June 2005 102.6 Amortisation of mining
assets September 2005 50.4 June 2005 56.8 Net operating profit
September 2005 34.6 June 2005 45.9 Other income/(expenses)
September 2005 (4.0) June 2005 4.0 Profit before taxation September
2005 30.6 June 2005 49.9 Mining and income taxation September 2005
7.7 June 2005 (11.2) - Normal taxation September 2005 10.7 June
2005 6.0 - Deferred taxation September 2005 (3.0) June 2005 (17.2)
Profit before exceptional items September 2005 23.0 June 2005 61.1
Exceptional items September 2005 0.1 June 2005 (25.8) Net profit
September 2005 23.1 June 2005 35.3 Net profit excluding gains and
losses on financial instruments and foreign debt and exceptional
items September 2005 22.1 June 2005 44.3 Capital expenditure ($
million) September 2005 48.4 June 2005 63.7 Planned for next six
months to March 2006 146.7 South African Operations United States
Dollars Total Driefontein Kloof Beatrix Operating Results Ore
milled/treated (000 tons) September 2005 3,320 1,614 875 831 June
2005 3,555 1,743 902 910 Yield (ounces per ton) September 2005
0.195 0.180 0.250 0.167 June 2005 0.193 0.171 0.250 0.179 Gold
produced (000 ounces) September 2005 646.8 289.8 218.4 138.6 June
2005 686.6 297.9 225.5 163.2 Gold sold (000 ounces) September 2005
646.8 289.8 218.4 138.6 June 2005 686.6 297.9 225.5 163.2 Gold
price received (dollars per ounce) September 2005 437 436 436 439
June 2005 429 427 430 432 Total cash costs (dollars per ounce)
September 2005 381 333 421 416 June 2005 363 314 416 380 Total
production costs (dollars per ounce) September 2005 416 367 465 442
June 2005 404 351 475 402 Operating costs (dollars per ton)
September 2005 77 62 110 72 June 2005 73 56 108 71 Financial
Results ($ million) Revenue September 2005 282.5 126.4 95.2 60.8
June 2005 293.2 126.9 96.0 70.3 Operating costs September 2005
256.4 100.6 95.8 60.0 June 2005 258.1 97.3 97.0 63.9 Gold inventory
change September 2005 - - - - June 2005 - - - - Operating profit
September 2005 26.1 25.8 (0.6) 0.8 June 2005 35.1 29.6 (1.0) 6.4
Amortisation of mining assets September 2005 21.7 9.4 8.9 3.3 June
2005 26.1 10.4 12.3 3.3 Net operating profit September 2005 4.4
16.4 (9.5) (2.5) June 2005 9.0 19.2 (13.3) 3.1 Other
income/(expenses) September 2005 (5.9) (1.7) (1.9) (2.3) June 2005
4.1 2.2 2.1 (0.1) Profit before taxation September 2005 (1.5) 14.7
(11.4) (4.8) June 2005 13.1 21.4 (11.2) 2.9 Mining and income
taxation September 2005 (5.4) 2.2 (5.6) (2.0) June 2005 3.9 3.8
(7.2) 7.3 - Normal taxation September 2005 2.1 2.1 - - June 2005
0.5 6.4 - (5.9) - Deferred taxation September 2005 (7.5) 0.1 (5.6)
(2.0) June 2005 3.5 (2.6) (7.2) 13.2 Profit before exceptional
items September 2005 3.9 12.5 (5.7) (2.8) June 2005 9.2 17.6 (4.0)
(4.4) Exceptional items September 2005 0.1 - - 0.1 June 2005 (13.6)
(2.1) (2.0) (9.4) Net profit September 2005 4.0 12.5 (5.7) (2.7)
June 2005 (4.3) 15.5 (6.1) (13.8) Net profit excluding gains and
losses on financial instruments and foreign debt and exceptional
items September 2005 4.0 12.5 (5.7) (2.8) June 2005 (4.8) 14.1
(7.8) (11.2) Capital expenditure ($million) September 2005 20.5 7.2
6.5 6.7 June 2005 27.3 11.8 7.4 8.0 Planned for next six months to
March 2006 62.0 24.7 18.6 18.7 Average exchange rates are US$1 =
R6.52 and US$1 = R6.39 for the September 2005 and June 2005
quarters respectively. Figures may not add as they are rounded
independently. Operating and financial results United States
Dollars Total Operating Results Ore milled/treated (000 tons)
September 2005 8,568 June 2005 8,670 Yield (ounces per ton)
September 2005 0.048 June 2005 0.054 Gold produced (000 ounces)
September 2005 413.2 June 2005 465.5 Gold sold (000 ounces)
September 2005 413.2 June 2005 465.5 Gold price received (dollars
per ounce) September 2005 438 June 2005 428 Total cash costs
(dollars per ounce) September 2005 295 June 2005 281 Total
production costs (dollars per ounce) September 2005 364 June 2005
349 Operating costs (dollars per ton) September 2005 14 June 2005
15 Financial Results ($ million) Revenue September 2005 181.1 June
2005 199.3 Operating costs September 2005 120.5 June 2005 127.4
Gold inventory change September 2005 1.7 June 2005 4.3 Operating
profit September 2005 58.9 June 2005 67.6 Amortisation of mining
assets September 2005 28.7 June 2005 30.7 Net operating profit
September 2005 30.2 June 2005 36.9 Other income/(expenses)
September 2005 1.9 June 2005 (0.2) Profit before taxation September
2005 32.1 June 2005 36.7 Mining and income taxation September 2005
13.1 June 2005 (15.1) - Normal taxation September 2005 8.6 June
2005 5.6 - Deferred taxation September 2005 4.4 June 2005 (20.7)
Profit before exceptional items September 2005 19.0 June 2005 51.8
Exceptional items September 2005 0.1 June 2005 (12.2) Net profit
September 2005 19.1 June 2005 39.6 Net profit excluding gains and
losses on financial instruments and foreign debt, and exceptional
items September 2005 18.2 June 2005 49.2 Capital expenditure
September 2005 27.9 June 2005 36.5 Planned for next six months to
March 2006 84.6 International Operations United States Dollars
Ghana Australia # Tarkwa Damang St Ives Agnew Operating Results Ore
milled/treated (000 tons) September 2005 5,275 1,327 1,641 325 June
2005 5,395 1,262 1,697 316 Yield (ounces per ton) September 2005
0.033 0.043 0.073 0.191 June 2005 0.037 0.046 0.084 0.206 Gold
produced (000 ounces) September 2005 174.2 57.2 119.8 62.0 June
2005 199.1 58.2 143.1 65.1 Gold sold (000 ounces) September 2005
174.2 57.2 119.8 62.0 June 2005 199.1 58.2 143.1 65.1 Gold price
received (dollars per ounce) September 2005 437 438 439 441 June
2005 428 431 428 424 Total cash costs (dollars per ounce) September
2005 277 375 316 230 June 2005 240 340 348 205 Total production
costs (dollars per ounce) September 2005 330 394 387 June 2005 289
368 401 Operating costs (dollars per ton) September 2005 9 14 23 47
June 2005 9 15 28 44 Financial Results ($ million) Revenue
September 2005 76.1 25.0 52.6 27.3 June 2005 85.5 24.9 61.2 27.7
Operating costs September 2005 48.8 19.0 37.5 15.2 June 2005 47.1
19.6 46.9 13.9 Gold inventory change September 2005 (0.5) 2.1 0.8
(0.6) June 2005 1.0 - 4.4 (1.1) Operating profit September 2005
27.9 4.0 14.4 12.7 June 2005 37.4 5.3 10.0 14.9 Amortisation of
mining assets September 2005 9.4 1.1 18.2 June 2005 9.7 1.5 19.5
Net operating profit September 2005 18.5 2.9 8.9 June 2005 27.7 3.8
5.3 Other income/(expenses September 2005 1.5 0.7 (0.3) June 2005
0.8 0.6 (1.6) Profit before taxation September 2005 20.0 3.5 8.6
June 2005 28.6 4.4 3.7 Mining and income taxation September 2005
7.5 1.6 4.0 June 2005 10.3 2.5 (27.8) - Normal taxation September
2005 6.0 0.8 1.9 June 2005 3.1 0.4 2.1 - Deferred taxation
September 2005 1.5 0.8 2.1 June 2005 7.2 2.1 (29.9) Profit before
exceptional items September 2005 12.5 1.9 4.6 June 2005 18.3 2.0
31.6 Exceptional items September 2005 (0.2) - 0.3 June 2005 (0.1) -
(12.1) Net profit September 2005 12.3 1.9 4.9 June 2005 18.2 2.0
19.4 Net profit excluding gains and losses on financial instruments
and foreign debt, and exceptional items September 2005 11.6 1.5 5.1
June 2005 18.1 1.9 29.1 Capital expenditure September 2005 7.2 3.8
12.4 4.6 June 2005 15.5 2.6 12.8 5.5 Planned for next six months to
March 2006 29.0 14.5 29.8 11.3 Australian Dollars United States
Dollars Australia # St Ives Agnew Operating Results Ore
milled/treated (000 tons) September 2005 1,641 325 June 2005 1,697
316 Yield (ounces per ton) September 2005 0.073 0.191 June 2005
0.084 0.206 Gold produced (000 ounces) September 2005 119.8 62.0
June 2005 143.1 65.1 Gold sold (000 ounces) September 2005 119.8
62.0 June 2005 143.1 65.1 Gold price received (dollars per ounce)
September 2005 577 579 June 2005 553 548 Total cash costs (dollars
per ounce) September 2005 415 303 June 2005 450 265 Total
production costs (dollars per ounce) September 2005 509 June 2005
519 Operating costs (dollars per ton) September 2005 30 61 June
2005 36 57 Financial Results ($ million) Revenue September 2005
69.2 35.9 June 2005 80.3 36.4 Operating costs September 2005 49.3
20.0 June 2005 61.3 18.2 Gold inventory change September 2005 1.0
(0.8) June 2005 5.9 (1.4) Operating profit September 2005 18.9 16.8
June 2005 13.0 19.6 Amortisation of mining assets September 2005
24.0 June 2005 25.6 Net operating profit September 2005 11.7 June
2005 7.1 Other income/(expenses September 2005 (0.4) June 2005
(2.2) Profit before taxation September 2005 11.3 June 2005 4.9
Mining and income taxation September 2005 5.2 June 2005 (37.1) -
Normal taxation September 2005 2.5 June 2005 2.7 - Deferred
taxation September 2005 2.8 June 2005 (39.9) Profit before
exceptional items September 2005 6.1 June 2005 42.0 Exceptional
items September 2005 0.3 June 2005 (16.1) Net profit September 2005
6.4 June 2005 25.9 Net profit excluding gains and losses on
financial instruments and foreign debt, and exceptional items
September 2005 6.7 June 2005 38.8 Capital expenditure September
2005 16.3 6.0 June 2005 16.4 7.1 Planned for next six months to
March 2006 39.1 14.9 Average exchange rates are US$1 = R6.52 and
US$1 = R6.39 for the September 2005 and June 2005 quarters
respectively. The Australian Dollar exchange rates were AUS$1 =
R4.96 and AUS$1 = R4.91 for the September 2005 and June 2005
quarters respectively. # 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. Figures may not add as they are rounded
independently. Underground and surface South African Rand and
Metric Units Operating Results Total Mine Operations Ore milled
/treated (000 ton) - underground September 2005 3,112 June 2005
3,376 - surface September 2005 8,776 June 2005 8,849 - total
September 2005 11,888 June 2005 12,225 Yield (grams per ton) -
underground September 2005 7.2 June 2005 7.3 - surface September
2005 1.2 June 2005 1.3 - combined September 2005 2.8 June 2005 2.9
Gold produced (kilograms) - underground September 2005 22,261 June
2005 24,560 - surface September 2005 10,711 June 2005 11,276 -
total September 2005 32,972 June 2005 35,836 Operating costs (Rand
per ton) - underground September 2005 576 June 2005 545 - surface
September 2005 76 June 2005 71 - total September 2005 207 June 2005
202 South African Operations Operating Results Total Driefontein
Kloof Beatrix Ore milled / treated (000 ton) - underground
September 2005 2,587 989 767 831 June 2005 2,720 978 832 910 -
surface September 2005 733 625 108 - June 2005 835 765 70 - - total
September 2005 3,320 1,614 875 831 June 2005 3,555 1,743 902 910
Yield (grams per ton) - underground September 2005 7.3 8.1 8.7 5.2
June 2005 7.4 8.3 8.3 5.6 - surface September 2005 1.5 1.6 0.9 -
June 2005 1.5 1.5 1.4 - - combined September 2005 6.1 5.6 7.8 5.2
June 2005 6.0 5.3 7.8 5.6 Gold produced (kilograms) - underground
September 2005 19,009 8,005 6,692 4,312 June 2005 20,090 8,095
6,920 5,075 - surface September 2005 1,110 1,010 100 - June 2005
1,266 1,171 95 - - total September 2005 20,119 9,015 6,792 4,312
June 2005 21,356 9,266 7,015 5,075 Operating costs (Rand per ton)
-underground September 2005 627 621 805 470 June 2005 591 593 741
451 - surface September 2005 68 68 70 - June 2005 64 60 106 - -
total September 2005 503 406 714 470 June 2005 467 359 692 451
International Operations Operating Results Ghana Australia Total
Tarkwa Damang St Ives Agnew Ore milled /treated (000 ton) -
underground September 2005 525 - - 409 116 June 2005 656 - - 538
118 - surface September 2005 8,043 5,275 1,327 1,232 209 June 2005
8,014 5,395 1,262 1,159 198 - total September 2005 8,568 5,275
1,327 1,641 325 June 2005 8,670 5,395 1,262 1,697 316 Yield (grams
per ton) - underground September 2005 6.2 - - 4.5 12.1 June 2005
6.8 - - 5.3 13.7 - surface September 2005 1.2 1.0 1.3 1.5 2.5 June
2005 1.2 1.1 1.4 1.4 2.1 - combined September 2005 1.5 1.0 1.3 2.3
5.9 June 2005 1.7 1.1 1.4 2.6 6.4 Gold produced (kilograms) -
underground September 2005 3,252 - - 1,854 1,398 June 2005 4,470 -
- 2,856 1,614 - surface September 2005 9,601 5,418 1,779 1,873 531
June 2005 10,010 6,193 1,811 1,596 410 - total September 2005
12,853 5,418 1,779 3,727 1,929 June 2005 14,480 6,193 1,811 4,452
2,024 Operating costs (Rand per ton) - underground September 2005
327 - - 311 387 June 2005 358 - - 348 403 - surface September 2005
76 60 94 95 259 June 2005 72 56 99 98 207 - total September 2005 92
60 94 149 305 June 2005 94 56 99 177 280 Development results
Development values represent the actual results of sampling and no
allowance has been made for any adjustments which may be necessary
when estimating ore reserves. All figures below exclude shaft
sinking metres September 2005 Driefontein quarter Carbon Main VCR
Reef Leader Advanced (m) 5,043 648 1,231 Advanced on reef (m) 716
227 156 Sampled (m) 723 132 78 Channel width (cm) 108 22 97 Average
value - (g/t) 12.8 33.2 59.2 - (cm.g/t) (1)1,390 725 (2)5,756 June
2005 Driefontein quarter Carbon Main VCR Reef Leader Advanced (m)
4,794 562 1,488 Advanced on reef (m) 870 55 211 Sampled (m) 576 33
102 Channel width (cm) 104 45 56 Average value - (g/t) 17.0 39.9
42.6 - (cm.g/t) 1,762 1,783 2,395 September 2005 Kloof quarter Reef
Kloof Main VCR Advanced (m) 190 1,157 5,057 Advanced on reef (m) 97
160 1,126 Sampled (m) 105 148 1,240 Channel width (cm) 146 99 96
Average value - (g/t) 4.8 9.1 18.9 - (cm.g/t) 697 904 1,805 June
2005 Kloof quarter Reef Kloof Main VCR Advanced (m) 194 1,057 6,349
Advanced on reef (m) 125 158 1,622 Sampled (m) 148 151 1,593
Channel width (cm) 117 88 86 Average value - (g/t) 6.8 9.2 18.8 -
(cm.g/t) 803 811 1,614 Beatrix September 2005 June 2005 quarter
quarter Reef Beatrix Kalkoenkrans Beatrix Kalkoenkrans Advanced (m)
5,907 1,623 7,714 1,757 Advanced on reef (m) 1,706 256 1,711 267
Sampled (m) 1,563 255 1,461 234 Channel width (cm) 76 154 69 104
Average value - (g/t) 15.6 12.1 12.4 12.0 - (cm.g/t) 1,181 1,864
854 1,248 (1) The carbon leader reef values were negatively
affected by low values on the 18 and 19 raise lines between 48 and
50 level at 5 shaft. Values are expected to improve once this low
grade zone has been transversed. (2) Values improved at 4 shaft in
the shaft pillar area. Development will continue in the shaft
pillar but values, although expected to be high, will most probably
be lower than the exceptionally high values experienced this
quarter. Forward Looking Statements Certain statements in this
document constitute "forward looking statements" within the meaning
of Section 27A of the US Securities Act of 1933 and Section 21E of
the US Securities Exchange Act of 1934. Such forward looking
statements involve known and unknown risks, uncertainties and other
important factors that could cause the actual results, performance
or achievements of the company to be materially different from the
future results, performance or achievements expressed or implied by
such forward looking statements. Such risks, uncertainties and
other important factors include among others: economic, business
and political conditions in South Africa; decreases in the market
price of gold; hazards associated with underground and surface gold
mining; labour disruptions; changes in government regulations,
particularly environmental regulations; changes in exchange rates;
currency devaluations; inflation and other macro-economic factors;
and the impact of the AIDS crisis in South Africa. These forward
looking statements speak only as of the date of this document. The
company undertakes no obligation to update publicly or release any
revisions to these forward looking statements to reflect events or
circumstances after the date of this document or to reflect the
occurrence of unanticipated events. Gold Fields Limited
Incorporated in the Republic of South Africa Registration number
1968/004880/06 Share code: GFI Issuer code: GOGOF ISIN: ZAE
000018123 PRNewswire -- Aug. 4 END FIRST AND FINAL ADD DATASOURCE:
Gold Fields Limited
Copyright