Interim Results
18 Januar 2001 - 12:08PM
UK Regulatory
RNS Number:3474X
Simmer & Jack Mines Ld
17 January 2001
Document Dated 6 December 2000
INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2000
Abridged consolidated income statements
Six months Six months Nine months
ended ended ended
30 Sept 00 30 Sept 99 31 March 00
(R'000) (R'000) (R'000)
Turnover 13 961 4 328 10 348
Operating costs 15 166 10 499 14 684
Operating loss (1 205) (6 171) (4 336)
Net finance charges 1 868 2 052 1 291
Loss on ordinary activities
before taxation (3 073) (8 223) (5 627)
Taxation - 2 -
Loss for the period (3 073) (8 225) (5 627)
Loss per share - based on
weighted average number of shares
in issue (cents) 3 30 7
Abridged consolidated balance sheets
30 Sept 00 31 March 00
(R'000) (R'000)
ASSETS
Non-current assets
Mining assets, land and buildings 107 156 106 454
Current assets 4 076 3 127
Funds on call, bank balances and cash - 570
Other current assets 4 076 2 557
111 232 109 581
EQUITY AND LIABILITIES
Equity capital and reserves 86 457 57 529
Long-term liabilities - interest bearing 19 676 14 458
Shareholder's loan 19 562 14 355
Other long-term liabilities 114 103
Current liabilities 5 099 37 594
Interest bearing 234 492
Non-interest bearing 4 865 37 102
111 232 109 581
Ordinary shares of 2 cents each in issue
at end of period ('000) 203 432 123 432
Net asset value per share (cents) 42 47
Notes:
The Svengali Joint Venture terminated during the period and mining of the Lily
Mine open pit oxide reserves commenced. The Lily open pit is yielding a
profitable contribution to results and its performance is exceeding expectation.
The TGME underground operations, however, continue to incur losses and problems
with metallurgical recovery are being addressed.
Despite the setbacks at the TGME underground operations, net operating
performance is continuing to improve and the company is confident that the TGME
recovery problem will be resolved.
6 December 2000
Transfer secretaries Registered office
South Africa United Kingdom 1st Floor,
Mercantile Registrars Limited Independent Registrars Consolidated Building
11 Diagonal Street Bourne House 86 Fox Street
Johannesburg, 2001 32-34 Beckenham Road Johannesburg, 2001
(PO Box 1053, Johannesburg 2000 Beckenham, Kent (PO Box 11165,
South Africa) BR3 4TU Johannesburg 2000
England South Africa)
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