Results to 31 March 2000
19 July 2000 - 10:40PM
UK Regulatory
RNS Number:9556N
Simmer & Jack Mines Ld
17 July 2000
SIMMER AND JACK MINES, LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1901/007778/06)
("the company")
Director: R A R Kebble (Chairman), M McChesney (Chief Executive Officer),
H C Buitendag, R G Rainey, J Stratton (Australian)
Preliminary announcement of results for financial year ended 31 March 2000
(The company's financial year-end has been changed from 30 June to 31 March)
Abridged consolidated income statements
Nine months ended Year ended
31 March 2000 30 June 1999
(Unaudited) (Unaudited)
R'000 R'000
Turnover 15 970 3 328
Operating costs 20 452 13 611
Operating loss (4 482) (10 283)
Net finance charges (1 301) (5 247)
Loss for the period before taxation (5 783) (15 530)
Taxation - (2)
Loss for the period/year (5 783) (15 532)
Abridged consolidated balance sheets
R'000 R'000
Capital employed
Ordinary shareholders' funds 57 122 24 858
Minority shareholders' interest 1 1
Vendor liability to be settled by issue of shares 32 000 32 000
Shareholder's loan - interest bearing 14 355 42 780
Long-term liabilities:
- interest bearing 98 -
- non-interest bearing - 666
103 576 100 305
Employment of capital
Mining asset, land and buildings 105 958 101 521
Current assets 2 335 3 680
Cash at bank, at call and on deposit 314 1 852
Other current assets 2 021 1 828
Current liabilities 4 717 4 896
Current liabilities
- non-interest bearing 3 804 4 039
Current portion of long-term liability 161 -
Purchase consideration
- Transvaal Gold Mining Estates Limited 500 500
Bank overdraft 252 357
Net current liabilities (2 382) (1 216)
103 576 100 305
Shares in issue (000)** 86 773 27 064
Net asset value per share (cents) 66 92
Loss per share (cents) (7) (57)
**March 200 - weighted average
Notes:
Operating performance continues to improve despite serious setbacks occasioned
by heavy flooding in the areas of operation in the last quarter of the period
under review.
The company remains reliant on the financial support of a major shareholder
during the current development and rationalisation phase.
Vendor settlement for the purchase of Transvaal Gold Mining Estates Limited is
expected to take place in July 2000.
By order of the Board
Consolidated Mining Management Services Limited
Secretaries - 11 July 2000
Transfer secretaries
South Africa United Kingdom
Mercantile Registrars Limited Independent Registrars
11 Diagonal Street Bourne House
Johannesburg, 2001 32-34 Beckenham Road
(PO Box 1053), Johannesburg 2000) Beckenham, Kent BR3 4TU
South Africa England
Registered Office
1st Floor
Consolidated Building
86 Fox Street
Johannesburg, 2001
(PO Box 11165, Johannesburg 2000)
South Africa
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