|
(Derived from financial statements prepared in accordance with US GAAP) |
| |
| |
| 2004 | 2003 | 2002 |
| | $'000 | $'000 | $'000 |
| Revenues | | | |
| Product sales | 317 696 | 265 944 | 303 858 |
| Costs and expenses | (284 352) | (242 626) | (217 571) |
| Production costs | (281 897) | (239 961) | (218 056) |
| Movement in gold in process | 1 000 | (1 251) | (289) |
| Movement in rehabilitation provision, reclamation and closure cost | (3 455) | (1 414) | 774 |
| | | |
| Gross profit | 33 344 | 23 318 | 86 287 |
| Other operating expenses | | | |
| Depreciation and amortization | (30 135) | (10 602) | (13 933) |
| Employment termination costs | (7 963) | (1 501) | (388) |
| Impairment of assets | (3 501) | - | (2 167) |
| Management and consulting fees | (2 448) | (1 650) | (1 888) |
| Post retirement medical benefits | - | - | (1 786) |
| (Loss)/profit on derivative instruments | (1 166) | 43 821 | (147 153) |
| Profit/(loss) on sale of mining assets | (55) | 1 729 | 331 |
| Profit on disposal of subsidiary | - | 5 302 | - |
| Write off of investments and loans | - | - | (86) |
| Selling, administration and general charges | | | |
| (including stock based compensation costs of $2 309 546 (2003: $ 4 312 759 and 2002:
$2 503 271) | (24 575) | (10 828) | (13 254) |
| Net operating (loss)/income | (36 499) | 49 589 | (94 037) |
| Non-operating income | | | |
| Interest and dividends | 990 | 8 703 | 2 219 |
| Unrealized foreign exchange gains | 10 672 | 11 229 | 567 |
| Profit/(loss) on sale of other assets and listed investments | 63 | 152 | (937) |
| Finance costs | | | |
| Interest expense | (7 912) | (6 909) | (2 385) |
| (Loss)/profit before tax and other items | (32 686) | 62 764 | (94 573) |
| Income and mining tax (expense)/benefit | (14 230) | (41 765) | 42 864 |
| Equity in loss from associates | (8 827) | (9 452) | - |
| Net (loss)/profit after tax | (55 743) | 11 547 | (51 709) |
| Minority interest | (7) | - | - |
| Net (loss)/profit before cumulative effect of accounting change | (55 750) | 11 547 | (51 709) |
| Cumulative effect of accounting change (net of income taxes of $ Nil in 2003) | - | (173) | - |
| Net (loss)/profit applicable to common stockholders | (55 750) | 11 374 | (51 709) |
| Basic (loss)/profit per share (cents) before cumulative effect | | | |
| of change in accounting policy | (26) | 6 | (32) |
| Cumulative effect of change in accounting policy (cents) | - | - | - |
| Basic (loss)/profit per share (cents) | (26) | 6 | (32) |
| Weighted average number of shares used in computation | 216 509 843 | 183 300 665 | 161 664 648 |
| Diluted (loss)/profit per share (cents) before cumulative effect | | | |
| of change in accounting policy | (26) | 4 | (32) |
| Cumulative effect of change in accounting policy (cents) | - | - | - |
| Diluted (loss)/profit per share (cents) | (26) | 4 | (32) |
| Diluted weighted average number of shares used in computation | 234 731 556 | 201 071 734 | 168 214 804 |
|
These condensed financial statements should be read in conjunction with the Company's financial statements and footnotes filed on Form 20-F with the United States Securities and Exchange Commission on or about 30 September 2004. |
