Quarterly reports
FOURTH QUARTER FISCAL 2010
Attributable production up 13 per cent to 898,000 ounces
JOHANNESBURG. 5 August 2010, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the June 2010 quarter of R900 million compared with earnings of R316 million and a loss of R293 million in the March 2010 and the June 2009 quarters respectively. In US dollar terms net earnings for the June 2010 quarter were US$120 million, compared with earnings of US$44 million and a loss of US$29 million for the March 2010 and June 2009 quarters respectively.
June 2010 quarter salient features:
- New production record for Tarkwa at over 200,000 ounces for the quarter;
- Total cash cost down 2 per cent from R169,538 per kilogram (US$703 per ounce) to R166,215 per kilogram (US$688 per ounce);
- Notional cash expenditure down 3 per cent from R241,860 per kilogram (US$1,003 per ounce) to R235,223 per kilogram (US$974 per ounce);
- NCE margin doubled from 9 per cent to 18 per cent;
- Net debt down to R4.7 billion (US$620 million) from R6.1 billion (US$829 million).
A final dividend of 70 SA cents per share is payable on 30 August 2010, giving a total dividend for financial 2010 of 120 SA cents per share.
THIRD QUARTER FISCAL 2010
Production and earnings decline due to seasonal Christmas break in South Africa
JOHANNESBURG. 7 May 2010, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the March 2010 quarter of R316 million compared with earnings of R1,409 million and R1,307 million in the December 2009 and the March 2009 quarters respectively. In US dollar terms net earnings for the March 2010 quarter were US$44 million, compared with US$187 million and US$140 million for the December 2009 and March 2009 quarters respectively.
March 2010 quarter salient features:
- Attributable gold production of 793,000 ounces;
- Strong performance at the international operations with a 6 per cent increase in production;
- Net cash inflow of R1 billion despite lower production;
- South Deep ventilation shaft deepening commenced;
- Total cash cost up 15 per cent from R147,648 per kilogram (US$613 per ounce) to R169,538 per kilogram(US$703 per ounce);
- Notional cash expenditure up 12 per cent from R216,830 per kilogram (US$900 per ounce) to R241,860 per kilogram (US$1,003 per ounce);
- Damang’s secondary crusher successfully commissioned on time and within budget.
SECOND QUARTER FISCAL 2010
Net earnings increase by 40% to R1.4 billion
JOHANNESBURG. 4 February 2010, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the December 2009 quarter of R1,409 million compared with earnings of R1,007 million and R483 million in the September 2009 and the December 2008 quarters respectively. In US dollar terms net earnings for the December 2009 quarter was US$187 million, compared with US$129 million and US$54 million for the September 2009 and December 2008 quarters respectively.
Net earnings excluding gains and losses on foreign exchange, financial instruments, exceptional items and share of profit or loss of associates after taxation for the December 2009 quarter was R1,022 million compared with earnings of R625 million and R542 million in the September 2009 and the December 2008 quarters respectively. In US dollar terms this equates to US$135 million for the December 2009 quarter, compared with US$80 million and US$60 million for the September 2009 and December 2008 quarters respectively.
December 2009 quarter salient features:
- Attributable gold production of 900,000 ounces;
- Total cash cost similar to previous quarter at R147,648 per kilogram, but up 5 per cent in dollar terms from US$586 per ounce to US$613 per ounce due to stronger rand;
- Notional cash expenditure up 4 per cent from R207,754 per kilogram (US$826 per ounce) to R216,830 per kilogram (US$900 per ounce);
- South Deep production up 10 per cent on previous quarter and 50 per cent year on year;
- Cerro Corona production of 98,400 equivalent ounces up 60 per cent year on year.
Interim dividend number 72 of 50 SA cents per share is payable on 1 March 2010.
FIRST QUARTER FISCAL 2010
Operating profit of R2.8 billion and
net earnings of R1.0 billion in the quarter ended September 2009
JOHANNESBURG. 29 October 2009, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the September 2009 quarter of R1,007 million, compared with a loss of R293 million and net earnings of R39 million for the June 2009 and the September 2008 quarters respectively. In US dollar terms net earnings for the September 2009 quarter were US$129 million, compared with a loss of US$29 million and net earnings of US$5 million for the June 2009 and the September 2008 quarters respectively.
September 2009 quarter salient features:
- Attributable gold production at 906,000 ounces was in line with the previous quarter;
- Total cash cost increased 5 per cent from R140,916 per kilogram (US$512 per ounce) to R147,343 per kilogram (US$586 per ounce);
- Notional cash expenditure increased 2 per cent from R203,042 per kilogram (US$738 per ounce) to R207,754 per kilogram (US$826 per ounce);
- Net debt at R6.7 billion (US$908 million) is robust at 0.58 of annual EBITDA;
- Post quarter end announcement of 271 million ounces of mineral resources and 81 million ounces of mineral reserves for F2010;
- Royalty payable by St Ives terminated for a total consideration of A$308 million;
- Stake in Eldorado sold for US$299 million, following the exchange of Sino shares for Eldorado shares.
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