STIL Stilfontein Gold Mining Co Ld

STILFONTEIN GOLD MINING COMPANY LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1949/033412/06)

Share code: STI ISIN: ZAE000007118

("the Company")

                                               Unaudited    UnauditedAudited
                                                                               
                                              Six months   Six months      Year
                                                                               
INCOME STATEMENTS (ABRIDGED)                       ended        ended     ended
                                                                               
                                             31 December  31 December   30 June
               
                                                    2003         2002      2003
                                                                               
                            R`000        R`000     R`000
                                                                               
Net operating (loss)/profit for the period         (202)         (52)        25
                                         
Investment income                                    376            9       309
                                                                               
Provision for environmental rehabilitation            -            -   (3 564)
                                                                               
Net profit/(loss) for the period before              174         (43)   (3 230)
taxation                                                           
                                                                               
Taxation                                               -            3         -
                                                                               
Net profit/(loss) for the period                     174         (46)   (3 230)
                                                                               
Earnings/(Loss) per share - (cents)                                            
             
- headline and attributable earnings/                1,3        (0,4)      24,8
(loss)                                                                         
                          
Earnings per share calculation is based on                                     
                                                                               
the weighted number of shares in issue of:    13 062 920   13 062 920    13 062
                                                                            920

                                               Unaudited    Unaudited   Audited
                                                   
BALANCE SHEETS (ABRIDGED)                    31 December  31 December   30 June
                                                                               
                                                    2003        2002      2003
                                                                               
                                                   R`000        R`000     R`000
                                                                             
ASSETS                                                                         
                                                                               
Non-current assets                                                             
          
- Mining assets                                    7 881        7 916     7 916
                                                                               
- Investments          131           29        29
                                                                               
                                                   8 012        7 945     7 945
                                    
Current assets                                     7 647        7 390     9 431
                                                                               
Total assets                                     15 659       15 335    17 376
                                                                               
LIABILITIES AND SHAREHOLDERS` EQUITY                                           
                                                              
Current liabilities                                6 228        3 066     8 119
                                                                               
- non-interest bearing                                                     
                                                                               
Shareholders` equity                               9 431       12 269     9 257
                                                                               
Total liabilities and shareholders` equity        15 659       15 335    17 376
                                                                               
Net asset value per share (cents)                   72,2         93,9      70,8

                    Unaudited    Unaudited   Audited
                                                                               
                                              Six months   Six months      Year
                                 
CASH FLOW STATEMENTS (ABRIDGED)                    ended        ended     ended
                                                                               
                                             31 December  31 December   30 June
                                                                               
                                                    2003         2002      2003
                                                           
                                                   R`000        R`000     R`000
                                                                               
Cash flows (utilised in)/from operating                                 
                                                                               
activities                                         (223)        1 264       818
                                                                               
Cash flows from investing activities                  35            -        50
                                                                               
Cash flows from financing activities                   -            -       778
                  
Net (decrease)/increase in cash resources          (188)        1 264     1 646
                                                                               
Cash and cash equivalents at beginning of                                      
the                                                                            
                                                                               
period                                      6 796        5 150     5 150
                                                                               
Cash and cash equivalents at end of the            6 608        6 414     6 796
period                                                   

                                            Share      Share   Retained        
                                                                               
STATEMENT OF CHANGES IN EQUITY            capital    premium   earnings   Total
                                                                               
                                            R`000      R`000      R`000   R`000
                                                                               
Balance on 1 July 2002                      6 531      1 514      3 664  11 709
                                                                               
Net loss for the year                           -          -    (3 230) (3 230)
               
Forfeited dividends                             -          -        778     778
                                                                               
Balance on 1 July 2003      6 531      1 514      1 212   9 257
                                                                               
Net profit for the period                       -          -        174     174
                                         
Balance on 31 December 2003                 6 531      1 514      1 386   9 431

NOTES TO THE FINANCIAL STATEMENTS

1. Basis of accounting

These results are prepared in accordance with South African Statements of
Generally Accepted Accounting Practise and Schedule 4 to the Companies Act,
1973. These accounting policies are consistent with those used in the annual
financial statements for the year ended 30 June 2003.

2. During the period under review, the authorised and issued share capital of
the Company remained unchanged at 14 000 000 ordinary shares of 50 cents each
of which 13 062 920 ordinary shares of 50 cents each were in issue throughout
the period.

3. No material events have occurred subsequent to the end of the interim
financial period.

4. There has been no change in contingent liabilities since 30 June 2003.

COMMENTS

1. During the period under review, the Company continued pumping operations on
behalf of Hartebeestfontein Gold Mining Company Limited.

2. No provision for taxation has been made as the Company has a calculated
assessable loss.

For and on behalf of the board

R A R Kebble               H C Buitendag                    
                                                         
Non-executive              Chairman Executive Director      

Johannesburg

10 March 2004

Company Secretary:          P B Beale                       
                                                            
Investor Relations:         G W Poole                       
                                                            
Telephone:                  +27 11 688 5100                 
                                                            
Telefax:                    +27 11 836 3757  
                                                            
E-Mail:                     gpoole@jci.co.za                
                                                            
Registered Office:          28 Harrison Street,       
                                                            
                            Johannesburg, 2001              
                                                            
                            (PO Box 11165, Johannesburg,    
  2000)                           
                                                            
Transfer Secretaries:       Computershare Limited,          
                                                            
           70 Marshall Street,             
                            Johannesburg, 2001              
                                                            
                            (PO Box 1053, Johannesburg,     
                    2000)                           
                                                            
United Kingdom Registrars:  Capita Registrars,              
                                                            
                            The Registry,                   
                                                            
                            34 Beckenham Road,              
                                                            
                            Beckenham,Kent BR3 4TU         
                                                            
                            Telephone: +44 870 162 3100     
                                                            
                            Telefax: +44 20 8639 2342       
                                                            
London Secretaries:         St. James`s Corporate Services  
                            Limited,                        
                                                        
                            6 St James`s Place,             
                                                            
                            London SW1A 1NP                 
                                                            
    Telephone: +44 20 7491 1889     
                                                            
                            Telefax: +44 20 7491 1989       
                                                            
French Agents:              Euro Emetteurs Finance,         
                                                            
                            48 Boulevard des Batignolles,   
                                                            
                      75850 Paris, Cedex 17, France   
                                                            
                            Telephone: +331 5530 5900       
                                                            
                            Telefax: +331 5530 5910         
                                                            



END

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