CONSOLIDATED BALANCE SHEET |
|
|
Year ended |
|
Year ended |
|
|
|
29 February 2004 |
|
28 February 2003 |
|
|
|
Reviewed |
|
Audited |
|
|
|
R |
|
R |
Assets |
Note |
|
|
|
|
Non-current assets |
|
|
|
|
|
Mining assets and equipment |
1 |
|
49 882 |
|
53 704 |
Current assets |
|
|
2 355 469 |
|
2 615 934 |
Inventories |
|
|
1 073 347 |
|
1 005 108 |
Trading investments |
|
|
405 057 |
|
380 123 |
Trade and other receivables |
|
|
648 723 |
|
1 089 883 |
Cash and cash equivalents |
|
|
228 342 |
|
140 820 |
|
|
|
|
|
|
Total assets |
|
|
2 405 351 |
|
2 669 638 |
Equity and liabilities |
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
Share capital |
|
|
1 700 689 |
|
1 700 689 |
Share premium |
|
|
17 202 741 |
|
17 202 741 |
Accumulated loss |
|
|
(17 565 307)) |
|
(16 472 876) |
Ordinary shareholders’ funds |
|
|
1 338 123 |
|
2 430 554 |
Outside shareholders’ interest |
|
|
10 578 |
|
14 479 |
Non-current liabilities |
|
|
|
|
|
Non-interest bearing long-term liabilities |
|
|
226 740 |
|
68 240 |
Current liabilities |
|
|
829 910 |
|
156 365 |
Trade and other payables |
|
|
820 546 |
|
156 365 |
Provisions |
|
|
9 364 |
|
- |
|
|
|
|
|
|
Total equity and liabilities |
|
|
2 405 351 |
|
2 669 638 |
Shares in issue |
|
|
17 006 887 |
|
17 006 887 |
Net asset value per share (cents) |
|
7.87 |
|
14.29 |
Net tangible asset value per share (cents) |
|
7.87 |
|
14.29 |
|
|
|
|
|
|
CONSOLIDATED INCOME STATEMENT |
|
|
Year ended |
|
Year ended |
|
|
|
29 February 2004 |
|
28 February 2003 |
|
|
|
Reviewed |
|
Audited |
|
|
|
R |
|
R |
Revenue |
|
|
211 101 |
|
593 868 |
Net operating loss |
|
|
(876 329) |
|
(469 139) |
Interest received |
|
|
5 930 |
|
47 654 |
Interest paid |
|
|
(73) |
|
(55) |
Impairment losses |
|
|
(225 859) |
|
(9 342 381) |
Net (loss) for the year before outside shareholders’ interest |
|
|
(1 096 331) |
|
(9 763 921) |
Outside shareholders' interest |
|
|
3 900 |
|
8 941 |
Net loss for the year attributable to ordinary shareholders
|
(1 092 431) |
|
(9 754 980) |
Weighted average of number of shares in issue |
17 006 887 |
|
17 006 887 |
Loss per share (cents) |
|
|
(6.42) |
|
(57.36) |
Headline loss per share (cents) |
|
(5.10) |
|
(2.43) |
|
|
|
|
|
|
RECONCILIATION OF HEADLINE LOSS |
|
Year ended |
|
Year ended |
|
|
|
29 February 2004 |
|
28 February 2003 |
|
|
|
Reviewed |
|
Audited |
|
|
|
R |
|
R |
Reconciliation between loss and |
|
|
|
|
headline loss |
|
|
|
|
|
Loss attributable to ordinary shareholders |
|
(1 092 431) |
|
(9 754 980) |
Impairment losses |
|
|
225 859 |
|
9 342 381 |
Headline loss |
|
|
(866 572) |
|
(412 599) |
|
|
|
|
|
|
CASHFLOW STATEMENT |
|
|
Year ended |
|
Year ended |
|
|
|
29 February 2004 |
|
28 February 2003 |
|
|
|
Reviewed |
|
Audited |
|
|
|
R |
|
R |
Cash generated by/(utilised in) operating activities |
|
|
Cash utilised in operations |
|
(850 285) |
|
(478 148) |
Cash generated by /(utilised in) working capital |
933 933 |
|
(214 092) |
|
|
|
83 648 |
