Page 1
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SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549 
FORM 6-K 
REPORT OF FOREIGN PRIVATE ISSUER 
PURSUANT TO RULE 13a-16 or 15d-16 OF 
THE SECURITIES EXCHANGE ACT OF 1934 
Report on Form 6-K dated 
 
 
 
11 JULY 2003
 
  
  
AngloGold Limited
_ 
(Name of Registrant)  
 
11 Diagonal Street 
Johannesburg, 2001 
(P O Box 62117) 
Marshalltown, 2107 
    South Africa____ 
(Address of Principal Executive Offices) 
 
                    


 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: 
Form 20-F:        Form 40-F:   
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1): 
Yes: 
      No:    

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7): 
Yes: 
      No:    
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby
furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes: 
      No:    
Enclosures:
   ANGLOGOLD REPORT FOR THE QUARTER ENDED 31 MARCH 1999, 
PREVIOUSLY FILED WITH THE SEC IN HARD COPY -- REFILED TODAY, ON EDGAR
 

 
 
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REPORT FOR THE QUARTER
E N D E D  3 1  M A R C H  1 9 9 9
HIGHLIGHTS
Shortfall in gold production, due to operational problems, less than anticipated
Overall production increases by 8% to 53, 7 tonnes (1, 7 million ounces) with addition of Minorco gold mines
Cash costs decrease by 7% to $209 per ounce
Total production costs down by 6% to $238 per ounce
Attributable profit increases by 29% to R611 million
Earnings before exceptional items decline by 3% to R493 million
Cash generated from operations - R793 million
Return on shareholders' equity - 34%
Return (before tax) on capital employed - 22%
All financial figures reported solely according to International Accounting Standards for the first time
Prepared in accordance with
Accounting Standards
Gold
Produced
Revenue
Cash costs
Total production costs
Operating profit
Net capital expenditure
Attributable profit
Attributable earnings
Earnings before
exceptional items
Headline earnings
International
kg/oz (000)
R/kg/$/oz sold
R/kg/$/oz produced
R/kg/$/oz produced
R/$ million
R/$ million
R/$ million
cents per share
cents per share
cents per share
Quarter
ended
March
1999
53 711
60 960
40 951
46 741
746,
 8
249,
 2
611,
 3
625
504
974
Quarter
ended
December
1998
Rand/Metric
49 914
61 653
41 562
47 247
798,
 0
253,
 8
473,
 9
485
521
521
Year
ended
December
1998
205 349
58 946
40 587
46 704
2 475, 3
544,
 9
1 710, 5
1 748
1 568
1 568
Quarter
ended
March
1999
1 728
311
209
238
122.
 2
40.
 8
100.
 9
103
83
160
Quarter
ended
December
1998
Dollar/Imperial
1 604
332
224
254
138.
 1
44.
 0
82.
 0
84
90
90
Year
ended
December
1998
6 602
334
230
264
444.
 7
98.
 7
317.
 5
324
283
283
anglo
ANGLOGOLD LIMITED
Registration No. 05/17354/06
Incorporated in the Republic of South Africa
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Published by the AngloGold Corporate Communications Department
Postal address: PO Box 62117
Marshalltown
2107
South Africa
Telephone: +27 11 637 6152
Facsimile: +27 11 637 6399/6400
E-mail: investors@corp. anglogold. com
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LETTER FROM THE CHAIRMAN
AND THE CHIEF EXECUTIVE OFFICER
Dear Shareholder
AngloGold has produced a good set of results for the first quarter of its 1999 financial year. Significant changes have
taken place in this quarter in the composition of the company's assets, its accounting conventions and the fiscal regime
within which it operates, and shareholders need to take account of these changes in order to see in these results both
an accurate picture of current performance as well as an indicator of prospects for the remainder of the year.
During this quarter the company concluded the acquisition of the Minorco gold assets and their financial and operating
results are included for the first time. The quarterly results benefit from both the increased production and lowered
production costs of these assets. A significant increase in debt, and in amortisation (which increased by R72 million)
and a partial write-off of goodwill (R342 million this quarter) in relation to the Minorco acquisition is also evident.
Also during the quarter the company agreed to sell its 21, 5% interest in the South African gold company Driefontein.
AngloGold's attributable share of this company's gold production (some 300 000 annual ounces) has been excluded
from this quarter's operational results. As the sale was only approved by shareholders in April, equity accounted earnings
(R68 million), including a deferred tax rate change (R37 million) have been included this quarter. This will be set off
against the profit from the sale of approximately R544 million, which will be accounted for next quarter. The cash
proceeds amount to some R1, 3 billion, R714 million of which was paid in April with the balance to be paid within nine
months.
For this quarter the company reports its results exclusively according to International Accounting Standards (IAS), as it
is the Board's view that these standards provide the most reliable, effective and internationally comparative picture of
the performance of AngloGold. Last quarter both IAS and appropriation accounting conventions were reported. Last
quarter's profit available for distribution was R414 million (424 cents per share) in appropriation terms, and headline
earnings were R510 million (521 cents per share) in IAS terms. It is the IAS available profits that provide a meaningful
comparison with this set of results.
A further development that has had an impact on the reported results is the change effected to the South African
corporate tax rate during this quarter, where the corporate rate was lowered from 35% to 30% with a similar adjustment
being made to the gold mining tax formula. This lower rate is reflected (in part) in the R82 million reduction in tax and in
a R460 million reduction in deferred tax.
Against this background, the profit attributable to shareholders for the March quarter increased to R611 million (up by
29%), however once the goodwill write-off of R342 million, and the deferred tax adjustment of R460 million are excluded,
earnings are R493 million (504 cents per share). This represents a 3% decrease in the earnings of the December
quarter on a comparable basis.
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In terms of the company's operating performance, production problems were experienced at a number of operations,
leading the company to revise downwards its production target for the quarter from 55 tonnes (1, 8 million ounces) to
52 tonnes (1, 7 million ounces) in a public announcement on 6 April 1999. Since this date 1, 7 tonnes (55 000 ounces) of
this deficit has been made up and management is confident of recovering the remaining ounces by the end of the year.
The price received on gold sales declined against the previous quarter by 1% to R60 960 per kilogram. Cash costs fell
from $224 to $209 per ounce and total production costs from $254 to $238 per ounce.
Capital expenditure for the quarter was R249 million compared to R254 million the previous quarter.
The company has therefore been able to repeat the sound operating performance of the December quarter, with an
operating profit margin this quarter of 23%, a return on shareholders' equity of 34% and on capital employed (before
tax)
 of 22%.
Management remains confident of achieving the targeted production levels for the year of 7 million ounces, at cash costs
of around $210 per ounce.
NICKY OPPENHEIMER                                                                                                                                          BOBBY GODSELL
Chairman                                                                                                                                                              Chief Executive Officer
29 April 1999
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SOUTH AFRICAN OPERATIONS
As part of AngloGold's restructuring process. Western Deep Levels East, West and South mines have been separated
into three business units from this quarter, each with its own management structure. To reflect these changes they have
been renamed as follows: East Mine is now TauTona ('great lion' in Sotho). West Mine, Savuka (Zulu for 'rise up') and
South Mine. Mponeng ('look at me' or 'see me' in Sotho).
Overall performance
The first quarter got off to a disappointing start for the South African operations. The January and February production
months were plagued by a series of seismic and infrastructural problems but the quarter finished strongly, with March
the second highest production month since June last year.
Due to the initial shortage of quality underground material to the plants, throughputs were maximised by increased
processing of lower-grade surface dump material. This resulted in some dilution of yield.
Gold production at 45, 5 tonnes was 2, 5 tonnes (5%) below the previous quarter, due mainly to underperformance from
Matjhabeng, TauTona (Western Deep Levels East Mine ) and Elandsrand. Lower production at Ergo and Bambanani was
in line with expectations.
Productivity, in grams per total employee, showed a slight deterioration (2%) from the December quarter levels, reflecting
this underperformance.
Cash operating costs were well controlled and ended 3% lower in absolute terms, while the lower production impacted
unfavourably on unit costs which rose by 2% to R43 116 per kilogram.
Gold operating profit fell by some R163 million. The slightly lower gold price received, lower production and the change
in inventory levels were the major contributors.
Mine performance
At TauTona (Western Deep Levels East Mine), a drive for improved safety - in line with AngloGold's zero tolerance safety
campaign - resulted in reduced face advance in a number of high grade areas. The effect of the reduction is being
addressed through productivity initiatives in other areas.
As a result of the fail-off in grade during January and February at Elandsrand, a number of panels were stopped and
crews moved to higher-grade panels. This resulted in an improvement in grade but a shortfall in square metres due to
the time taken to establish the higher-grade panels.
Production at Savuka (Western Deep Levels West Mine) was negatively affected by the damage to the tertiary shaft from
the seismic event reported last quarter. The rock mass has now been stabilised through an intensive support programme
and the shaft steelwork is being repaired. Production performance is expected to improve in the second quarter.
At Mponeng Mine (Western Deep Levels South Mine), a seismic event closed two raise lines in high-grade areas. This
reduced available face length and consequently, tonnage and grade were lower than planned.
Significant pumping problems were experienced at Deelkraal at the beginning of the year, leading to the suspension of
operations in some areas. The resulting shortage of underground tonnage was offset by an increase in throughput of
lower-grade surface dump material.
Great Noligwa had an exceptional quarter with a clean-up of the plant boosting production to 8, 7 tonnes. Production is
expected to return to below 8 tonnes in the second quarter.
A switch from single-to twin-streaming of ore from Tau Lekoa and Kopanang Mines through the gold plant has improved
gold accounting at both mines. At Tau Lekoa, an additional 100 kilograms of gold per month are expected to be
produced, while at Kopanang any negative impact will be offset by increased production.
Bambanani experienced substantial shaft downtime during the quarter as a result of shaft infrastructural problems. The
impact was minimised by accelerated production.
Seismic activity and repairs to shaft infrastructure had an adverse impact on production at Matjhabeng. Production levels
had been restored by March.
in the early hours of Friday, 23 April, however, an earth tremor measuring 4, 6 on the Richter Scale struck the Free State
goldfields. All four of Matjhabeng's shafts were affected, Eland shaft the most severely. At the time of publication rescue
teams were still searching for the two employees missing underground. Damage to shaft infrastructure was still being
assessed.
The reduction from two streams to one at Ergo's Daggafontein section - due to declining reserves - resulted in lower
production, as anticipated.
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Projects
Capital expenditure at Joel reduced quarter on quarter by R7 million. The shaft-sinking project was affected by poor
ground conditions and technical problems related to the wetcreting operation. Measures are in place to address these
issues. Shaft sinking has progressed to 117 level (1 133 metres below surface) and station development is under way.
The Mponeng (Western Deep Levels South Mine) Deepening project is progressing, on schedule. Scaling problems in
the Sub shaft have resulted in the re-scheduling of expenditure. The Sub shaft has reached 120 level (3 371 metres
below surface) where station development has been completed. Capital expenditure is R4 million lower than the previous
quarter
The Moab Khotsong project is progressing very well and is on schedule. The commissioning of the main winder was
completed successfully and ahead of schedule. Expenditure on capital for the quarter of R75 million was R22 million
higher than the previous period.
The carbon technology projects at West Wits are ahead of schedule and within targeted expenditures. Carbon cells at
No. 2 Plant have been commissioned and are running at acceptable residue levels. Civil construction at Elandsrand Plant
has been completed and erection of structural steelwork has begun. Expenditure of R10 million has been incurred for
the quarter.
INTERNATIONAL OPERATIONS
Other African operations
The Africa International operations comprise AngloGold's 38% interest in the Sadiola mine in Mali and the 70% interest
in the Navachab venture in Namibia.
Both operations have performed well in respect of most key parameters this quarter. The significant variances in
comparison with the preceding quarter are primarily associated with the previously reported requirement for additional
stripping and revised slimes dam operations at Sadiola, coupled with the lower mill head grades expected there and at
Navachab for 1999. At Navachab, excellent progress was made on pit slope recovery work, scheduled for completion at
mid-year.
These factors directly influence labour establishment, costs and productivities, as demonstrated in the numbers.
Nevertheless, the cash costs continuing to be achieved and projected - at Sadiola in particular - are gratifying.
At Sadiola, negotiations are in progress to resolve, in the ensuing quarter, two issues with potential financial implications,
These are: the upgrading of the mine-owned power station's diesel engines, where performance since commissioning
has been disappointing; and interpretation differences with the authorities on several Mali tax and duty clauses in the
operating convention. Satisfactory resolution is expected and financial exposure is not assessed to be material.
From successful extension exploration programmes initiated two years ago, Sadiola's mineral resource model has been
updated and provides, potentially, for the economic exploitation of additional resources. These would support the very
high mining and throughput rates currently being achieved by the operation.
The relocation of both Sadiola and Farabakouta villages should be almost completed during the next quarter, thus
satisfying both local environmental and ore resource access undertakings.
The potential Yatela project north-west of Sadiola continues to be subject to feasibility and trade-off studies and an
investment decision is expected to be taken this year.
At Navachab, the venture management committee has agreed to go ahead with a significant pit expansion project which,
while exploiting additional resources and extending the life by some eight years, provides an attractive return on the
required investment in additional waste stripping.
A six-day strike by plant shift workers and some sympathisers at Navachab was resolved by negotiation on 22 April.
The Americas
The process of integrating into AngloGold the interests acquired from Minorco in gold operations and exploration in the
Americas has proceeded satisfactorily to date and is in line with expectations at the time of acquisition. Management is
firmly in place, with a capacity to bring future expansion and new projects to account.
In aggregate, the production targets for the first quarter were met at cash costs below expectations and below those of
the previous quarter.
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North America
These operations comprise AngloGold's 70% interest in the Jerritt Canyon joint venture in Nevada and the 67% interest
in the Cripple Creek and Victor joint venture in Colorado.
Jerritt Canyon performed satisfactorily for the quarter in respect of most key parameters and while the open-pit source
of its production is scheduled to cease later this year, the underground sources at the Murray and SSX mines are
scheduled to compensate in part. Active exploration and the development of additional underground production are in
place.
Cripple Creek and Victor, a low-grade but efficient open-pit and valley heap leach operation, had a slow start to the year,
with new heap areas taking some time to develop the requisite solution flow tenors. It is anticipated that progressive
production shortfalls should be recovered in the third quarter of 1999. Costs remain firmly under control.
South America
These operations comprise AngloGold's 100% interest in the Morro Velho mines and the 50% interest in the Serra
Grande mines, both in Brazil, as well as the 46, 25% interest in Cerro Vanguardia in southern Argentina.
All operations achieved gold and cash cost targets in the first quarter and costs at the Brazilian operations further
benefited to the extent of some US$20 per ounce as a result of the Real devaluation.
Some work to resolve bottlenecking at the Cerro Vanguardia metallurgical plant remains to be done before the full
potential at this operation is realised. Reagent usage is high at present while the cyanide recovery process is being
optimised. Silver grades and recovery have been below expectations to date, thus lowering the useful by-product credit
expected from that source. All these issues are receiving active attention in this, the first year of production.
A feasibility study on the potential Amapari project north of the Amazon is in progress, as are several studies on capacity
increases at the existing operations. Exploration is active.
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For the first quarter of 1999, the spot price of gold continued to fluctuate within a narrow price band of some $15.
Overall, the price moved lower from the final quarter of 1998, and the average price for the quarter of $287 per ounce
was around $7 below the previous quarter. The price remains under pressure at the low end of this range.
The reasons for this pressure are not immediately obvious. Whilst there was disappointing news early in the quarter with
the announcement by the Indian Government of an increase in import duties on gold into India (which results in a price
of gold in India about 10% above the free market), this tax has not had any measurable impact on physical gold off-take.
The Indian market retains the fallback source of gold smuggled from Dubai in the event that government taxation on the
metal becomes too onerous, and Indian off-take is still relatively firm after the record demand of 800 tonnes of metal in
that country during 1998. Physical off-take elsewhere in the world is equally reassuring, with indications of recovery in
both South-East Asia and the Middle East.
Similarly, the revival of a proposal to sell a limited amount of IMF gold reserves (5 to 10 million ounces over a period of
years) in a move to ease the debt burdens of poor countries is not a new issue in the gold market. More importantly, the
amount proposed for the sale is not in itself material, and would almost certainly be absorbed in today's markets without
impact on the price. In general, with the exception of the Swiss proposals to sell up to half of their gold reserves over a
number of years, the prognosis for gold sales from the official sector is encouraging, with no large sales likely from any
of the major holders of gold. This is the most positive position we have faced from this sector of the gold market in the
past decade.
The reasons for the malaise in the gold price appear to lie elsewhere, in a banking and investment sector which seems
to ignore any and all good news on gold and which follows a policy of recommending selling on every improvement in
the gold price, no matter how modest. What the motivation might be behind such a negative position is not clear.
However, initiatives are under way to achieve more satisfactory reporting of open positions and flows in gold derivative
markets, and it is to be hoped that with some greater transparency in these markets we may gain a better understanding
of the forces which currently constrain the price of the metal.
The currency markets were generally more stable during this quarter than they were during 1998. The average
rand/dollar exchange rate of R6, 15/US$ was some 4% weaker than the average in the final quarter of 1998, largely due
to a stronger dollar. In general, investors have favoured the South African currency recently, and in the absence of major
upheavals, the rand could well consolidate around current levels against the dollar.
The hedge position reflected below includes an amount of some 142 300 kilograms of forward cover entered into in
respect of forecast production from the newly acquired gold mining assets in the United States and South America.
As at 31 March 1999, the company had outstanding the following net forward pricing commitments against future
production. A portion of these sales consists of US dollar-priced contracts which have been converted to rand prices
at average annual forward rand values based on a spot rand/dollar exchange rate of R6, 20 available on 31 March
1999. The increase in hedge cover reflects the growing diversity of gold production by AngloGold in 1999 and beyond.
The percentage of the sales priced in US dollars is shown below:
12 months ending
31 March
1999
2000
2001
2002
2003
2004 - 2008
The aggregate of US dollar-priced contracts over the full duration of the hedge is 63 per cent.
Kilograms
sold
109 323
80 326
71 273
50 138
22 380
67 121
 
Ounces Forward price per
sold kilogram sold
000
 R
3 515
2 583
2 291
1 612
720
2 158
 
67 150
75 859
81 665
89 009
101 039
129 199
 
Percentage of
positions
priced in US$
71
53
51
55
69
78
The hedge position of the company increased by 8, 7% to 12. 9 million ounces spread over ten years - equivalent to a
year and nine months of production. The average price of these positions, 63% of which are priced in US dollars,
increased by 2% to $344 per ounce or R86 506 per kilogram at an exchange rate of R/$6, 20. The increase caters for
the hedging of the additional production of the mines acquired from Minorco in terms of loan agreements.
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1.    The results have been prepared in accordance with International Accounting Standards. As from 1 January 1999
results will no longer be presented in accordance with the appropriation method of accounting.
2.     At the general meeting held on Wednesday, 3 February 1999, shareholders approved the transaction for the
acquisition by AngloGold of the gold interests of Minorco for a net consideration of US$492, 4 million.
By 31 March 1999 all conditions precedent had been met and the effective date of the transaction was 1 January
1999.
3.     During the quarter 4 000 ordinary shares were allotted in terms of the Share Incentive Scheme, thereby increasing
the number of ordinary shares in issue at 31 March 1999 to 97 857 199.
4.     Earnings per share have been calculated using a weighted average number of ordinary shares in issue.
5.     Orders placed and outstanding on capital contracts as at 31 March 1999 totalled R350, 0 million, equivalent to
US$56, 4 million at the rate of exchange ruling on that date.
6.     Final dividend No. 85 of 800 South African cents per share was paid on 26 March 1999. The dividend paid on each
American Depositary Share (ADS) was 63. 85 US cents per ADS. Each ADS represents one-half of an ordinary
share.
7.    The financial results for the year ended 31 December 1998 are audited. All other results are unaudited.
By order of the Board
N. F. OPPENHEIMER                                                                                                                                          R. M. GODSELL
Chairman                                                                                                                                                          Chief Executive Officer
29 April 1999
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GROUP BALANCE SHEET
Prepared in accordance with International Accounting Standards
31 Dec 1998
31 Mar 1999
31 Mar 1999
31 Dec 1998
US Dollar million
SA Rand million
ASSETS
Non-current assets
1 878.6
        
2 292.6
        
Mining assets
14 239.8
      
11 048.5
      
-
                  
 146.1
          
Goodwill
 907.7
          
-
                  
 153.3
          
 157.6
          
Investments
 979.0
          
 901.5
          
 129.6
          
 130.2
          
Long-term loans - unsecured
 808.8
          
 762.2
          
2 161.5
        
2 726.5
        
16 935.3
      
12 712.2
      
Current assets
 115.4
          
 163.4
          
Inventories
1 014.8
        
 679.2
          
 147.4
          
 170.8
          
Trade and other receivables
1 061.1
        
 866.8
          
 224.1
          
 224.5
          
Cash and cash equivalents
1 394.3
        
1 318.0
        
 486.9
          
 558.7
          
3 470.2
        
2 864.0
        
2 648.4
        
3 285.2
        
Total assets
20 405.5
      
15 576.2
      
EQUITY AND LIABILITIES
Capital and reserves
 895.6
          
 848.0
          
Share capital and premium
5 267.2
        
5 267.7
        
 25.0
            
 25.8
            
Non-distributable reserve
 160.0
          
 147.5
          
 238.8
          
 330.8
          
Retained earnings
2 054.7
        
1 404.1
        
1 159.4
        
1 204.6
        
Shareholders' equity
7 481.9
        
6 819.3
        
 0.2
              
 30.3
            
Minority interests
 187.9
          
 0.9
              
1 159.6
        
1 234.9
        
7 669.8
        
6 820.2
        
Non-current liabilities
 121.5
          
 744.9
          
Borrowings
4 626.4
        
 714.7
          
 15.7
            
 16.1
            
Debentures
 99.9
            
 92.2
            
 192.7
          
 288.1
          
Other long-term liabilities
1 789.5
        
1 133.2
        
 733.1
          
 642.7
          
Deferred taxation
3 991.8
        
4 311.6
        
1 063.0
        
1 691.8
        
10 507.6
      
6 251.7
        
Current liabilities
 231.4
          
 236.2
          
Trade and other payables
1 468.8
        
1 360.8
        
 0.7
              
 32.5
            
Current portion of borrowings
 201.8
          
 4.3
              
 60.6
            
 89.8
            
Taxation
 557.5
          
 356.4
          
 133.1
          
-
                  
Dividends
-
                  
 782.8
          
 425.8
          
 358.5
          
2 228.1
        
2 504.3
        
2 648.4
        
3 285.2
        
Total equity and liabilities
20 405.5
"The results have been prepared in accordance with International Accounting Standards."     
15 576.2
      
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GROUP CASH FLOW STATEMENT
Year
Quarter
Prepared in accordance with International Accounting Standards
Quarter
Year
31 Dec 1998
31 Mar 1999
31 Mar 1999
31 Dec 1998
US Dollar million
SA Rand million
Cash flows from operating activities
 501.5
           
 130.8
           
Cash generated from operations
 793.3
           
2 786.1
         
 44.6
             
 12.8
             
Interest received
 77.9
             
 246.4
           
( 17.1)
           
( 2.8)
             
Interest paid
( 17.4)
           
( 94.4)
           
 7.2
               
 5.6
               
Dividends received
 34.2
             
 39.7
             
( 258.0)
         
( 128.3)
         
Dividends paid
( 782.8)
         
(1 414.3)
       
( 112.1)
         
( 5.3)
             
Mining and normal taxation paid
( 32.4)
           
( 614.8)
         
 166.1
           
 12.8
             
Net cash inflow from operating activities
 72.8
             
 948.7
           
Cash flows from investing activities
( 184.6)
         
( 41.1)
           
Purchase of mining assets
( 250.5)
         
(1 012.0)
       
 75.4
             
 0.2
               
Proceeds from sale of mining assets
 1.3
               
 413.6
           
( 6.1)
             
( 0.7)
             
Investments acquired
( 4.2)
             
( 33.7)
           
-
                   
( 459.2)
         
Net acquisition of Minorco gold assets
(2 840.8)
       
-
                   
 7.6
               
-
                   
Proceeds from sale of investments
-
                   
 41.4
             
( 107.7)
         
( 500.8)
         
Net cash outflow from investing activities
(3 094.2)
       
( 590.7)
         
Cash flows from financing activities
 0.5
               
 0.1
               
Proceeds from issue of share capital
 0.8
               
 2.9
               
( 20.7)
           
( 0.2)
             
Formation and share issue expenses
( 1.3)
             
( 113.4)
         
 12.7
             
 501.3
           
Proceeds from borrowings
3 100.7
         
 69.4
             
( 16.9)
           
-
                   
Repayment of borrowings
( 0.2)
             
( 92.9)
           
( 12.9)
           
( 0.4)
             
Loans advanced
( 2.3)
             
( 70.5)
           
( 37.3)
           
 500.8
           
Net cash inflow / (outflow) from financing activities
3 097.7
         
( 204.5)
         
 21.1
             
 12.8
             
Net increase in cash and cash equivalents
 76.3
             
 153.5
           
( 36.1)
           
( 12.4)
           
Translation adjustment
 239.1
           
 224.1
           
Opening cash and cash equivalents
1 318.0
         
1 164.5
         
 224.1
           
 224.5
           
Closing cash and cash equivalents
1 394.3
         
1 318.0
         
Note to the Cash Flow Statement
Cash generated from operations
 444.3
           
 122.9
           
Profit on ordinary activities before taxation
 745.3
           
2 404.0
         
Adjusted for:
 135.5
           
 43.5
             
Amortisation of mining assets
 265.5
           
 744.8
           
 8.1
               
 4.8
               
Non-cash movements
 29.2
             
 43.5
             
 9.1
               
-
                   
Loss on sale of mining assets
-
                   
 107.3
           
( 68.4)
           
( 10.7)
           
Income from associates
( 65.5)
           
( 363.7)
         
( 44.6)
           
( 12.8)
           
Interest received 
( 77.9)
           
( 246.4)
         
( 2.4)
             
( 0.2)
             
Dividends received
( 1.4)
             
( 13.4)
           
 17.1
             
 2.8
               
Interest paid
 17.4
             
 94.4
             
 2.8
               
( 19.5)
           
Movement in working capital
( 119.3)
         
 15.6
             
 501.5
           
 130.8
           
 793.3
           
2 786.1
         
The following analyses the movement in working capital:
 51.1
             
 4.1
               
Decrease in inventories
 24.8
             
 280.0
           
( 46.5)
           
 7.3
               
Decrease / (increase) in trade and other receivables
 44.3
             
( 254.8)
         
( 1.8)
             
( 30.9)
           
Decrease in trade and other payables
( 188.4)
         
( 9.6)
             
 2.8
               
( 19.5)
           
( 119.3)
"The results have been prepared in accordance with International Accounting Standards."         
 15.6
             
background image
background image
GROUP OPERATING RESULTS
Prepared in accordance with International Accounting Standards
Statistics are shown in metric units and financial figures in South African rand.
Issued Capital:
97 857 199 ordinary shares of 50 cents each
2 000 000 A redeemable preference shares
778 896 B redeemable preference shares
All the preference shares are held by a wholly owned subsidiary company
Quarter
Quarter
Year
ended
ended
ended
March
December
December
1999
1998
1998
GOLD
UNDERGROUND OPERATIONS
Tonnes milled
- 000
- reef
5 387
           
5 285
           
22 155
         
- waste
 170
             
 73
               
 241
             
- total
5 557
           
5 358
           
22 396
         
Yield
- g/t
- reef
 8.24
            
 8.28
            
 8.16
            
- waste
 0.71
            
 0.63
            
 0.88
            
- average
 8.01
            
 8.18
            
 8.08
            
Gold produced
- kg
- reef
44 405
         
43 769
         
180 831
       
- waste
 120
             
 46
               
 212
             
- total
44 525
         
43 815
         
181 043
       
PRODUCTIVITY
g/employee
- target
 220
             
 177
             
 174
             
- actual
 208
             
 189
             
 181
             
SURFACE AND  DUMP RECLAMATION
Tonnes treated
- 000
13 823
         
14 305
         
57 511
         
Yield
- g/t
 0.28
            
 0.29
            
 0.30
            
Gold produced
- kg
3 841
           
4 166
           
17 025
         
OPEN-PIT OPERATIONS
Tonnes mined
- 000
12 171
         
2 207
           
7 527
           
Stripping ratio
- t(mined-treated)
 /t treated
 2.63
            
 1.89
            
 1.63
            
Tonnes treated
- 000
3 350
           
 763
             
2 863
           
Yield
- g/t
 1.60
            
 2.53
            
 2.54
            
Gold produced
- kg
5 345
           
1 933
           
7 281
           
TOTAL
Gold produced
- kg
53 711
         
49 914
         
205 349
       
Revenue - R/kg sold
- (excluding accelerated hedge)
60 788
         
61 125
         
57 283
         
- (including accelerated hedge)
60 960
         
61 653
         
58 946
         
Cash costs
- R/kg produced
40 951
         
41 582
         
40 587
         
Total production costs
- R/kg produced
46 741
         
48 474
         
47 002
         
URANIUM
Tonnes treated
- 000
 635
             
 611
             
2 576
           
Yield
- kg/t
 0.36
            
 0.36
            
 0.35
            
Production
- kg
230 000
       
223 000
       
891 000
       
Cost of production
- R/kg
 72
               
 74
               
 75
               
Sales
- kg
 313 591
      
 671 068
      
1 508 794
    
background image
GROUP OPERATING RESULTS
Prepared in accordance with International Accounting Standards
Statistics are shown in imperial units and financial figures in US dollars.
Issued Capital:
97 857 199 ordinary shares of 50 cents each
2 000 000 A redeemable preference shares
778 896 B redeemable preference shares
All the preference shares are held by a wholly owned subsidiary company
Quarter
Quarter
Year 
ended
ended
ended
March
December
December
1999
1998
1998
GOLD
UNDERGROUND OPERATIONS
Tons milled
- 000
- reef
5 939
               
5 825
               
24 422
             
- waste
 188
                 
 79
                   
 265
                 
- total
6 127
               
5 904
               
24 687
             
Yield
- oz/t
- reef
 0.240
              
 0.242
              
 0.238
              
- waste
 0.021
              
 0.018
              
 0.026
              
- average
 0.234
              
 0.239
              
 0.236
              
Gold produced - oz
- 000
- reef
1 428
               
1 408
               
5 814
               
- waste
 4
                     
 2
                     
 7
                     
- total
1 432
               
1 410
               
5 821
               
PRODUCTIVITY
oz/employee
- target
 7.07
                
 5.69
                
 5.59
                
- actual
 6.69
                
 6.08
                
 5.82
                
SURFACE AND  DUMP RECLAMATION
Tons treated
- 000
15 236
             
15 768
             
63 395
             
Yield
- oz/t
 0.008
              
 0.008
              
 0.009
              
Gold produced
- oz 000
 124
                 
 133
                 
 547
                 
OPEN-PIT OPERATIONS
Tons mined
- 000
13 416
             
2 433
               
8 297
               
Stripping ratio
- t(mined-treated)
 /t treated
 2.63
                
 1.89
                
 1.63
                
Tons treated
- 000
3 693
               
 841
                 
3 156
               
Yield
- oz/t
 0.047
              
 0.074
              
 0.074
              
Gold produced
- oz 000
 172
                 
 61
                   
 234
                 
TOTAL
Gold produced
- oz 000
1 728
               
1 604
               
6 602
               
Revenue - $/oz  sold
- (excluding accelerated hedge)
 310
                 
 329
                 
 324
                 
- (including accelerated hedge)
 311
                 
 332
                 
 334
                 
Cash costs
- $/ounce produced
 209
                 
 224
                 
 230
                 
Total production costs
- $/ounce produced
 238
                 
 261
                 
 266
                 
Rand/US Dollar exchange rate
 6.10
                
 5.77
                
 5.49
                
URANIUM
Tons treated
- 000
 700
                 
 675
                 
2 840
               
Yield
- lb/t
 0.72
                
 0.73
                
 0.69
                
Production
- lb
507 064
          
 491 631
         
1 964 320
       
Cost of production
- $/lb
 5.37
                
 5.81
                
 6.33
                
Sales
- lb
691 350
          
1 479 453
       
3 326 323
       
background image
GROUP FINANCIAL RESULTS
Prepared in accordance with International Accounting Standards
SA Rand million
Quarter
Quarter
Year
ended
ended
ended
March 
December
December
1999
1998
1998
Turnover
3 288.5
         
3 312.5
         
12 282.6
       
Gold revenue
3 231.2
         
3 194.0
         
12 002.9
       
Normal
3 221.9
         
3 165.8
         
11 654.9
       
Accelerated hedge
 9.3
                
 28.2
              
 348.0
           
Cost of sales
2 497.9
         
2 441.6
         
9 626.6
         
Cash costs
2 186.4
         
2 046.9
         
8 224.4
         
Retrenchment costs
 9.2
                
 28.2
              
 348.0
           
Rehabilitation and other non cash costs
 19.8
              
 38.5
              
 78.8
              
Production costs
2 215.4
         
2 113.6
         
8 651.2
         
Amortisation of mining assets
 265.5
           
 193.2
           
 744.8
           
Total production costs
2 480.9
         
2 306.8
         
9 396.0
         
Inventory change
 17.0
              
 134.8
           
 230.6
           
Gold operating profit
 733.3
           
 752.4
           
2 376.3
         
Uranium and acid profit
 13.5
              
 45.6
              
 99.0
              
Uranium and acid sales
 57.3
              
 118.5
           
 279.7
           
Uranium and acid cost of sales
 43.8
              
 72.9
              
 180.7
           
Operating profit
 746.8
           
 798.0
           
2 475.3
         
Corporate administration and other expenses
 65.0
              
 75.9
              
 262.5
           
Research and development
 7.5
                
 13.4
              
 27.1
              
Exploration costs
 56.4
              
 51.4
              
 203.5
           
Profit from operations
 617.9
           
 657.3
           
1 982.2
         
Interest paid
 17.4
              
 75.3
              
 94.4
              
Interest receivable
 77.9
              
 121.7
           
246.4
Income from associates
 65.5
              
 78.9
              
 363.7
           
Income from other investments
 1.4
                
 1.6
                
 13.4
              
Profit / (loss) on sale of mining assets
-
                    
 13.7
              
( 107.3)
         
Profit on ordinary activities before taxation
 745.3
           
 797.9
           
2 404.0
         
Taxation
( 218.1)
         
 324.0
           
 693.5
           
Normal taxation
 230.7
           
 229.6
           
 890.5
           
Deferred taxation 
- current
 11.1
              
 94.4
              
( 197.0)
         
- rate change
( 459.9)
         
-
                    
-
                    
Profit on ordinary activities after taxation
 963.4
           
 473.9
           
1 710.5
         
Goodwill written off
 341.7
           
-
                    
-
                    
Minority interest
 10.4
              
-
                    
-
                    
Profit attributable to ordinary shareholders
 611.3
           
 473.9
           
1 710.5
         
Earnings per share 
 - cents
  625
              
  485
              
 1 748
           
Headline earnings
 - Rm
 953.0
           
 509.6
           
1 533.8
         
 - cents per share
  974
              
  521
              
 1 568
           
Earnings before exceptional item and deferred 
 tax rate adjustment
 - Rm
 493.1
           
 509.6
           
1 533.8
         
 - cents per share
  504
              
  521
              
 1 568
           
Capital expenditure
 - mining direct
 225.9
           
 226.1
           
 883.1
           
 - other
 24.6
              
 37.7
              
 64.6
              
 - recoupments
( 1.3)
              
( 10.0)
           
( 402.8)
         
Net capital expenditure
 249.2
           
 253.8
           
 544.9
           
background image
GROUP FINANCIAL RESULTS
Prepared in accordance with International Accounting Standards
US Dollar million
Quarter
Quarter
Year
ended
ended
ended
March
December
December
1999
1998
1998
Turnover
 538.9
           
 573.5
           
2 235.6
         
Gold revenue
 529.5
           
 553.0
           
2 184.6
         
Normal
 528.0
           
 548.1
           
2 116.4
         
Accelerated hedge
 1.5
                
 4.9
                
 68.2
              
Cost of sales
 409.5
           
 422.8
           
1 757.8
         
Cash costs
 358.5
           
 354.4
           
1 499.1
         
Retrenchment costs
 1.5
                
 4.9
                
 68.2
              
Rehabilitation and other non cash costs
 3.2
                
 6.7
                
 12.5
              
Production costs
 363.2
           
 366.0
           
1 579.8
         
Amortisation costs
 43.5
              
 33.4
              
 135.5
           
Total production costs
 406.7
           
 399.4
           
1 715.3
         
Inventory change
 2.8
                
 23.4
              
 42.5
              
Gold operating profit
 120.0
           
 130.2
           
 426.8
           
Uranium and acid profit
 2.2
                
 7.9
                
 17.9
              
Uranium and acid sales
 9.4
                
 20.5
              
 51.0
              
Uranium and acid cost of sales
 7.2
                
 12.6
              
 33.1
              
Operating profit
 122.2
           
 138.1
           
 444.7
           
Corporate administration and other expenses
 9.8
                
 12.6
              
 48.1
              
Research and development
 1.2
                
 2.3
                
 4.7
                
Exploration costs
 9.2
                
 8.9
                
 36.8
              
Profit from operations
 102.0
           
 114.3
           
 355.1
           
Interest paid
 2.8
                
 13.0
              
 17.1
              
Interest receivable
 12.8
              
 21.1
              
 44.6
              
Income from associates
 10.7
              
 13.7
              
 68.4
              
Income from other investments
 0.2
                
 0.3
                
 2.4
                
Profit / (loss) on sale of mining assets
-
                    
 1.7
                
( 9.1)
              
Profit on ordinary activities before taxation
 122.9
           
 138.1
           
 444.3
           
Taxation
( 35.7)
           
 56.1
              
 126.8
           
Normal taxation
 37.8
              
 39.7
              
 159.9
           
Deferred taxation 
- current
 1.9
                
 16.4
              
( 33.1)
           
- rate change
( 75.4)
           
-
                    
-
                    
Profit on ordinary activities after taxation
 158.6
           
 82.0
              
 317.5
           
Goodwill written off
 56.0
              
-
                    
-
                    
Minority interest
 1.7
                
-
                    
-
                    
Profit attributable to ordinary shareholders
 100.9
           
 82.0
              
 317.5
           
Earnings per share 
 - cents
 103
               
 84
                 
 324
               
Headline earnings
 - $m
 156.9
           
 88.2
              
 276.9
           
 - cents per share
 160
               
 90
                 
 283
               
Earnings before exceptional item and deferred 
 tax rate adjustment
 - $m
 81.6
              
 88.2
              
 276.9
           
 - cents per share
 83
                 
 90
                 
 283
               
Capital expenditure
 - mining direct
 37.0
              
 39.3
              
 160.4
           
 - other
 4.0
                
 6.5
                
 11.5
              
 - recoupments
( 0.2)
              
( 1.8)
              
( 73.2)
           
Net capital expenditure
 40.8
              
 44.0
              
 98.7
              
background image
SOUTH AFRICAN OPERATIONS
VAAL RIVER 
Great Noligwa Mine
Prepared in accordance with International
Quarter
Quarter
Year
Quarter
Quarter
Year
Accounting Standards.
ended
ended
ended
ended
ended
ended
March
 December
 December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
OPERATING RESULTS
GOLD
Area mined
- m2 
/
- ft2
- 000
 105
              
 118
            
 450
            
1130
1270
4844
Milled - 000
- tonnes
/
- tons
- reef
 627
              
 584
            
2 480
         
691
644
2734
- waste
-
                    
 4
                
 4
                
-
                    
 4
                  
 4
                  
- surface and
  dump reclamation
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - total
 627
              
 588
            
2 484
         
 691
              
 648
              
2 738
            
Yield
- g/t
/
- oz/t
- reef
 13.93
           
 13.66
        
 13.51
        
 0.406
           
 0.398
           
 0.394
           
- waste
-
                    
 0.75
           
 0.75
           
-
                    
 0.022
           
 0.022
           
- surface and
  dump reclamation
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - average
 13.93
           
 13.57
        
 13.49
        
 0.406
           
 0.396
           
 0.393
           
Gold produced
- kg
/
- oz 000
- reef
8 735
            
7 975
         
33 509
       
 281
              
 256
              
1 077
            
- waste
-
                    
 3
                
 3
                
-
                    
-
                    
-
                    
- surface and
  dump reclamation
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - total
8 735
            
7 978
         
33 512
       
 281
              
 256
              
1 077
            
Revenue
- R/kg
/
- $/oz
- sold
61 087
         
61 294
       
57 881
       
 311
              
 330
              
 328
              
Cash costs
- R
/
- $
- ton milled
 381
              
 389
            
 380
            
 57
                
 61
                
 63
                
- R/kg
/
- $/oz
- produced
27 350
         
28 705
       
28 174
       
 139
              
 155
              
 159
              
PRODUCTIVITY
per employee
- g
/
- oz
- target
 270
              
 222
            
 215
            
 8.68
             
 7.14
             
 6.91
             
- actual
 274
              
 242
            
 248
            
 8.81
             
 7.78
             
 7.97
             
per employee
- m2
/
- ft2
- target
 3.51
             
 3.50
           
 3.37
           
 37.78
           
 37.67
           
 36.27
           
- actual
 3.29
             
 3.58
           
 3.32
           
 35.41
           
 38.53
           
 35.74
           
FINANCIAL RESULTS ( MILLION)
Gold normal revenue
 532.9
           
 519.6
        
1 972.1
      
 87.3
             
 90.0
             
 358.9
           
Accelerated hedge revenue
 0.7
               
 0.9
             
 8.2
             
 0.1
               
 0.2
               
 1.6
               
Total gold revenue
 533.6
           
 520.5
        
1 980.3
      
 87.4
             
 90.2
             
 360.5
           
Cost of sales
 271.5
           
 272.5
        
1 165.6
      
 44.5
             
 47.1
             
 213.2
           
Cash costs
 238.9
           
 229.0
        
 944.2
        
 39.2
             
 39.6
             
 171.8
           
Retrenchment costs
 0.7
               
 0.9
             
 8.1
             
 0.1
               
 0.2
               
 1.6
               
Rehabilitation costs
 1.2
               
 10.3
           
 12.1
           
 0.2
               
 1.7
               
 2.1
               
Other non-cash costs
 1.1
               
 1.3
             
 11.0
           
 0.2
               
 0.1
               
 2.0
               
Production costs
 241.9
           
 241.5
        
 975.4
        
 39.7
             
 41.6
             
 177.5
           
Amortisation costs
 31.8
             
 19.1
           
 147.3
        
 5.2
               
 3.4
               
 27.5
             
Inventory change
( 2.2)
              
 11.9
           
 42.9
           
( 0.4)
              
 2.1
               
 8.2
               
Profit from operations
 262.1
           
 248.0
        
 814.7
        
 42.9
             
 43.1
             
 147.3
           
Capital expenditure
- mining direct
 1.8
               
 7.1
             
 27.1
           
 0.4
               
 1.2
               
 5.0
               
- other
( 0.5)
              
 10.6
           
 17.0
           
( 0.1)
              
 1.8
               
 3.1
               
- recoupments
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
Net capital expenditure
 1.3
               
 17.7
           
 44.1
           
 0.3
               
 3.0
               
 8.1
               
background image
Kopanang Mine
Tau Lekoa Mine
Quarter
Quarter
Year
Quarter
Quarter
Year
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
Rand / Metric
Dollar / Imperial
 104
              
 113
            
 392
            
1119
1216
4219
 84
                
 93
              
 363
            
904
1001
3907
 543
              
 546
            
1 882
         
599
602
2075
 448
              
 460
            
1 847
         
494
507
2036
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
 1
                
-
                    
-
                    
 1
                  
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 543
              
 546
            
1 882
         
 599
              
 602
              
2 075
            
 448
              
 460
            
1 848
         
 494
              
 507
              
2 037
            
 8.36
             
 8.48
           
 7.66
           
 0.244
           
 0.247
           
 0.223
           
 5.22
             
 4.85
           
 4.53
           
 0.152
           
 0.142
           
 0.132
           
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
 5.00
           
-
                    
-
                    
 0.146
           
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 8.36
             
 8.48
           
 7.66
           
 0.244
           
 0.247
           
 0.223
           
 5.22
             
 4.85
           
 4.54
           
 0.152
           
 0.142
           
 0.132
           
4 539
            
4 630
         
14 415
       
 146
              
 148
              
 463
              
2 337
            
2 232
         
8 376
         
 75
                
 71
                
 269
              
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
 5
                
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
4 539
            
4 630
         
14 415
       
 146
              
 148
              
 463
              
2 337
            
2 232
         
8 381
         
 75
                
 71
                
 269
              
61 159
         
61 284
       
58 717
       
 312
              
 330
              
 327
              
61 293
         
61 541
       
57 223
       
 312
              
 331
              
 322
              
 331
              
 325
            
 339
            
 49
                
 51
                
 56
                
 253
              
 251
            
 247
            
 38
                
 39
                
 41
                
39 583
         
38 308
       
44 281
       
 202
              
 206
              
 250
              
48 415
         
51 746
       
54 372
       
 247
              
 279
              
 307
              
 160
              
 141
            
 136
            
 5.14
             
 4.53
             
 4.37
             
 158
              
 161
            
 156
            
 5.08
             
 5.18
             
 5.02
             
 192
              
 195
            
 146
            
 6.17
             
 6.27
             
 4.69
             
 176
              
 148
            
 130
            
 5.66
             
 4.76
             
 4.18
             
 4.25
             
 4.44
           
 4.19
           
 45.75
           
 47.79
           
 45.10
           
 6.44
             
 6.20
           
 5.92
           
 69.32
           
 66.74
           
 63.72
           
 4.40
             
 4.76
           
 3.97
           
 47.36
           
 51.24
           
 42.73
           
 6.35
             
 6.18
           
 5.65
           
 68.35
           
 66.52
           
 60.82
           
 276.9
           
 298.2
        
 855.4
        
 45.4
             
 51.6
             
 153.0
           
 142.5
           
 145.6
        
 495.5
        
 23.4
             
 25.2
             
 89.6
             
 0.7
               
 0.5
             
 4.2
             
 0.1
               
 0.1
               
 0.8
               
 0.7
               
 0.8
             
 6.1
             
 0.1
               
 0.1
               
 1.1
               
 277.6
           
 298.7
        
 859.6
        
 45.5
             
 51.7
             
 153.8
           
 143.2
           
 146.4
        
 501.6
        
 23.5
             
 25.3
             
 90.7
             
 191.7
           
 202.9
        
 708.4
        
 31.4
             
 35.1
             
 128.5
           
 134.2
           
 154.4
        
 560.4
        
 22.0
             
 26.8
             
 101.7
           
 179.7
           
 177.4
        
 638.3
        
 29.4
             
 30.7
             
 115.6
           
 113.1
           
 115.6
        
 455.7
        
 18.5
             
 20.0
             
 82.8
             
 0.7
               
 0.5
             
 4.2
             
 0.1
               
 0.1
               
 0.8
               
 0.7
               
 0.8
             
 6.1
             
 0.1
               
 0.1
               
 1.1
               
 0.6
               
 5.9
             
 6.7
             
 0.1
               
 1.1
               
 1.2
               
 0.3
               
 2.8
             
 3.4
             
 0.1
               
 0.5
               
 0.6
               
 0.7
               
 0.8
             
 8.2
             
 0.2
               
-
                    
 1.5
               
 0.4
               
 0.6
             
 5.8
             
 0.1
               
 0.3
               
 1.2
               
 181.7
           
 184.6
        
 657.4
        
 29.8
             
 31.9
             
 119.1
           
 114.5
           
 119.8
        
 471.0
        
 18.8
             
 20.9
             
 85.7
             
 11.2
             
 9.2
             
 38.1
           
 1.8
               
 1.6
               
 6.9
               
 20.3
             
 26.9
           
 71.7
           
 3.3
               
 4.6
               
 12.9
             
( 1.2)
              
 9.1
             
 12.9
           
( 0.2)
              
 1.6
               
 2.5
               
( 0.6)
              
 7.7
             
 17.7
           
( 0.1)
              
 1.3
               
 3.1
               
 85.9
             
 95.8
           
 151.2
        
 14.1
             
 16.6
             
 25.3
             
 9.0
               
( 8.0)
            
( 58.8)
         
 1.5
               
( 1.5)
              
( 11.0)
            
-
                    
( 7.2)
            
( 0.6)
            
-
                    
( 1.2)
              
-
                    
( 0.2)
              
 0.6
             
 8.4
             
-
                    
-
                    
 1.5
               
-
                    
 4.4
             
 7.1
             
-
                    
 0.8
               
 1.3
               
-
                    
 2.6
             
 4.2
             
-
                    
 0.5
               
 0.8
               
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
( 2.8)
            
 6.5
             
-
                    
( 0.4)
              
 1.3
               
( 0.2)
              
 3.2
             
 12.6
           
-
                    
 0.5
               
 2.3
               
background image
VAAL RIVER 
Surface Operations
Prepared in accordance with International
Quarter
Quarter
Year
Quarter
Quarter
Year
Accounting Standards.
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
OPERATING RESULTS
GOLD
Area mined
- m2 
/
- ft2
- 000
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
Milled - 000
- tonnes
/
- tons
- reef
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- surface and
  dump reclamation
1 226
            
1 150
         
4 888
         
1 351
            
1 267
            
5 388
            
 - total
1 226
            
1 150
         
4 888
         
1 351
            
1 267
            
5 388
            
Yield
- g/t
/
- oz/t
- reef
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- surface and
  dump reclamation
 0.50
             
 0.50
           
 0.48
           
 0.015
           
 0.015
           
 0.014
           
 - average
 0.50
             
 0.50
           
 0.48
           
 0.015
           
 0.015
           
 0.014
           
Gold produced
- kg
/
- oz 000
- reef
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- surface and
  dump reclamation
 615
              
 573
            
2 325
         
 20
                
 18
                
 75
                
 - total
 615
              
 573
            
2 325
         
 20
                
 18
                
 75
                
Revenue
- R/kg
/
- $/oz
- sold
61 049
         
61 447
       
57 570
       
 311
              
 331
              
 328
              
Cash costs
- R
/
- $
- ton milled
 18
                
 18
              
 21
              
 3
                  
 3
                  
 4
                  
- R/kg
/
- $/oz
- produced
36 348
         
36 881
       
44 162
       
 185
              
 199
              
 253
              
PRODUCTIVITY
per employee
- g
/
- oz
- target
 359
              
 331
            
 316
            
 11.54
           
 10.64
           
 10.16
           
- actual
 319
              
 227
            
 188
            
 10.26
           
 7.30
             
 6.04
             
per employee
- m2
/
- ft2
- target
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- actual
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
FINANCIAL RESULTS ( MILLION)
Gold normal revenue
 37.5
             
 35.0
           
 133.3
        
 6.1
               
 6.1
               
 24.4
             
Accelerated hedge revenue
-
                    
 0.2
             
 0.5
             
 0.1
               
-
                    
-
                    
Total gold revenue
 37.5
             
 35.2
           
 133.8
        
 6.2
               
 6.1
               
 24.4
             
Cost of sales
 22.4
             
 21.4
           
 103.7
        
 3.7
               
 3.7
               
 19.0
             
Cash costs
 22.4
             
 21.2
           
 102.7
        
 3.7
               
 3.7
               
 19.0
             
Retrenchment costs
-
                    
 0.2
             
 0.5
             
-
                    
-
                    
-
                    
Rehabilitation costs
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
Other non-cash costs
-
                    
-
                  
 0.5
             
-
                    
-
                    
-
                    
Production costs
 22.4
             
 21.4
           
 103.7
        
 3.7
               
 3.7
               
 19.0
             
Amortisation costs
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
Inventory change
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
Profit from operations
 15.1
             
 13.8
           
 30.1
           
 2.5
               
 2.4
               
 5.4
               
Capital expenditure
Moab Khotsong Mine
- mining direct
 75.2
             
 53.5
           
 276.9
        
 12.3
             
 9.3
               
 50.2
             
- other
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- recoupments
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
Net capital expenditure
 75.2
             
 53.5
           
 276.9
        
 12.3
             
 9.3
               
 50.2
             
background image
ERGO
Ergo
Prepared in accordance with International
Quarter
Quarter
Year
Quarter
Quarter
Year
Accounting Standards.
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
OPERATING RESULTS
GOLD
Material treated 
- tonnes
/
- tons
- 000
11 977
        
12 626
        
50 725
        
13 202
        
13 918
        
55 915
        
Yield
- g/t
/
- oz/t
 0.22
           
 0.24
           
 0.24
           
 0.006
         
 0.007
         
 0.007
         
Gold produced
- kg
/
- oz 000
2 634
          
3 061
          
12 265
        
 85
              
 98
              
 394
            
Revenue
- R/kg
/
- $/oz
- sold
61 087
        
61 307
        
57 065
        
 311
            
 330
            
 321
            
Cash costs
- R
/
- $
- ton treated
 10
              
 10
              
 10
              
 2
                
 2
                
 2
                
- R/kg
/
- $/oz
- produced
47 276
        
42 171
        
41 572
        
 241
            
 227
            
 235
            
FINANCIAL RESULTS (MILLION)
Gold normal revenue
 160.7
         
 196.8
         
 710.0
         
 26.3
           
 34.0
           
 128.5
         
Accelerated hedge revenue
 0.2
             
 0.4
             
 3.6
             
 0.1
             
 0.1
             
 0.7
             
Total gold revenue
 160.9
         
 197.2
         
 713.6
         
 26.4
           
 34.1
           
 129.2
         
Cost of sales
 144.6
         
 151.7
         
 599.8
         
 23.7
           
 26.2
           
 109.2
         
Cash costs
 124.5
         
 129.1
         
 509.9
         
 20.4
           
 22.4
           
 92.7
           
Retrenchment costs
 0.2
             
 0.4
             
 3.6
             
-
                  
 0.1
             
 0.7
             
Rehabilitation costs
 1.2
             
( 2.8)
            
 2.6
             
 0.2
             
( 0.5)
            
 0.5
             
Other non-cash costs
 1.3
             
 1.3
             
 5.0
             
 0.3
             
 0.2
             
 0.9
             
Production costs
 127.2
         
 128.0
         
 521.1
         
 20.9
           
 22.2
           
 94.8
           
Amortisation costs
 18.4
           
 15.5
           
 66.8
           
 3.0
             
 2.6
             
 12.1
           
Inventory change
( 1.0)
            
 8.2
             
 11.9
           
( 0.2)
            
 1.4
             
 2.3
             
Gold operating profit
 16.3
           
 45.5
           
 113.8
         
 2.7
             
 7.9
             
 20.0
           
Acid loss
( 6.7)
            
( 2.5)
            
( 1.8)
            
( 1.1)
            
( 0.4)
            
( 0.3)
            
Acid sales
 10.7
           
 10.1
           
 43.6
           
 1.7
             
 1.8
             
 8.0
             
Acid cost of sales
 17.4
           
 12.6
           
 45.4
           
 2.8
             
 2.2
             
 8.3
             
Profit from operations
 9.6
             
 43.0
           
 112.0
         
 1.6
             
 7.5
             
 19.7
           
Capital expenditure
 2.1
             
 4.1
             
 17.9
           
 0.4
             
 0.7
             
 3.3
             
background image
FREE STATE
Bambanani Mine
Prepared in accordance with International
Quarter
Quarter
Year
Quarter
Quarter
Year
Accounting Standards.
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
OPERATING RESULTS
GOLD
Area mined
- m2 
/
- ft2
- 000
 87
                
 89
              
 344
            
936
954
3708
Milled - 000
- tonnes
/
- tons
- reef
 541
              
 565
            
2 093
         
596
623
2307
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - surface and dump reclamation
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - total
 541
              
 565
            
2 093
         
596
623
2307
Yield
- g/t
/
- oz/t
- reef
 7.57
             
 8.20
           
 8.22
           
 0.221
           
 0.239
           
 0.240
           
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - surface and dump reclamation
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - average
 7.57
             
 8.20
           
 8.22
           
 0.221
           
 0.239
           
 0.240
           
Gold produced
- kg
/
- oz 000
- reef
4 094
            
4 635
         
17 195
       
 132
              
 149
              
 553
              
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - surface and dump reclamation
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - total
4 094
            
4 635
         
17 195
       
 132
              
 149
              
 553
              
Revenue
- R/kg
/
- $/oz
- sold
61 281
         
62 713
       
57 744
       
 312
              
 338
              
 326
              
Cash costs
- R
/
- $
- ton milled
 337
              
 369
            
 344
            
 50
                
 58
                
 57
                
- R/kg
/
- $/oz
- produced
44 491
         
45 039
       
41 927
       
 227
              
 243
              
 236
              
PRODUCTIVITY
per employee
- g
/
- oz
- target
 175
              
 171
            
 167
            
 5.63
             
 5.50
             
 5.37
             
- actual
 179
              
 207
            
 185
            
 5.75
             
 6.66
             
 5.95
             
per employee
- m2
/
- ft2
- target
 3.88
             
 3.90
           
 3.71
           
 41.76
           
 41.98
           
 39.93
           
- actual
 3.79
             
 3.95
           
 3.71
           
 40.80
           
 42.52
           
 39.93
           
FINANCIAL RESULTS (MILLION)
Gold normal revenue
 249.8
           
 302.7
        
1 008.6
      
 40.9
             
 52.4
             
 183.2
           
Accelerated hedge revenue
 1.1
               
 7.5
             
 7.6
             
 0.2
               
 1.3
               
 1.3
               
Total gold revenue
 250.9
           
 310.2
        
1 016.2
      
 41.1
             
 53.7
             
 184.5
           
Cost of sales
 200.7
           
 247.8
        
 810.9
        
 32.9
             
 43.0
             
 146.8
           
Cash costs
 182.1
           
 208.8
        
 720.9
        
 29.9
             
 36.1
             
 130.7
           
Retrenchment costs
 1.1
               
 7.5
             
 7.6
             
 0.2
               
 1.3
               
 1.3
               
Rehabilitation costs
( 0.7)
              
( 4.2)
            
( 2.9)
            
( 0.1)
              
( 0.7)
              
( 0.5)
              
Other non-cash costs
 1.5
               
 6.5
             
 5.5
             
 0.2
               
 1.3
               
 0.8
               
Production costs
 184.0
           
 218.6
        
 731.1
        
 30.2
             
 38.0
             
 132.3
           
Amortisation costs
 10.0
             
 11.2
           
 43.7
           
 1.6
               
 1.9
               
 7.9
               
Inventory change
 6.7
               
 18.0
           
 36.1
           
 1.1
               
 3.1
               
 6.6
               
Profit from operations
 50.2
             
 62.4
           
 205.3
        
 8.2
               
 10.7
             
 37.7
             
Capital expenditure
- mining direct
 6.9
               
 12.2
           
 30.9
           
 1.1
               
 1.9
               
 5.3
               
- other
-
                    
-
                  
( 0.5)
            
-
                
 0.1
               
-
                
- recoupments
-
                    
-
                  
-
                  
-
                
-
                
-
                
Net capital expenditure
 6.9
               
 12.2
           
 30.4
           
 1.1
               
 2.0
               
 5.3
               
background image
Tshepong Mine
Matjhabeng Mine
Quarter
Quarter
Year
Quarter
Quarter
Year
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
Rand / Metric
Dollar / Imperial
 85
                
 88
              
 357
            
915
946
3842
 105
              
 113
            
 441
            
1 130
            
1 219
            
4 745
            
 302
              
 309
            
1 205
         
333
340
1328
 470
              
 551
            
2 087
         
 518
              
 607
              
2 301
            
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 302
              
 309
            
1 205
         
333
340
1328
 470
              
 551
            
2 087
         
 518
              
 607
              
2 301
            
 8.28
             
 8.53
           
 7.86
           
 0.242
           
 0.249
           
 0.229
           
 7.37
             
 7.12
           
 7.50
           
 0.215
           
 0.208
           
 0.219
           
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 8.28
             
 8.53
           
 7.86
           
 0.242
           
 0.249
           
 0.229
           
 7.37
             
 7.12
           
 7.50
           
 0.215
           
 0.208
           
 0.219
           
2 502
            
2 631
         
9 467
         
 80
                
 84
                
 304
              
3 465
            
3 923
         
15 660
       
 111
              
 125
              
 503
              
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
2 502
            
2 631
         
9 467
         
 80
                
 84
                
 304
              
3 465
            
3 923
         
15 660
       
 111
              
 125
              
 503
              
61 683
         
64 334
       
58 354
       
 314
              
 347
              
 329
              
61 004
         
62 706
       
57 860
       
 311
              
 338
              
 326
              
 384
              
 458
            
 404
            
 57
                
 72
                
 66
                
 397
              
 411
            
 368
            
 59
                
 64
                
 61
                
46 341
         
53 744
       
51 466
       
 236
              
 289
              
 290
              
53 829
         
57 672
       
49 052
       
 274
              
 311
              
 277
              
 156
              
 128
            
 130
            
 5.02
             
 4.12
             
 4.18
             
 141
              
 142
            
 140
            
 4.53
             
 4.57
             
 4.50
             
 158
              
 160
            
 140
            
 5.08
             
 5.14
             
 4.50
             
 126
              
 143
            
 139
            
 4.05
             
 4.60
             
 4.47
             
 5.71
             
 5.39
           
 5.37
           
 61.46
           
 58.02
           
 57.80
           
 3.94
             
 3.86
           
 3.83
           
 42.41
           
 41.55
           
 41.23
           
 5.39
             
 5.33
           
 5.26
           
 58.02
           
 57.37
           
 56.62
           
 3.81
             
 4.12
           
 3.91
           
 41.01
           
 44.35
           
 42.09
           
 152.6
           
 177.6
        
 562.1
        
 25.0
             
 30.7
             
 101.9
           
 211.4
           
 269.2
        
 931.5
        
 34.6
             
 46.5
             
 168.5
           
 1.7
               
 9.1
             
 9.1
             
 0.3
               
 1.6
               
 1.6
               
-
                    
 6.7
             
 6.7
             
-
                
 1.2
               
 1.2
               
 154.3
           
 186.7
        
 571.2
        
 25.3
             
 32.3
             
 103.5
           
 211.4
           
 275.9
        
 938.2
        
 34.6
             
 47.7
             
 169.7
           
 139.3
           
 181.0
        
 562.7
        
 22.8
             
 31.3
             
 101.5
           
 196.1
           
 252.6
        
 839.1
        
 32.1
             
 43.6
             
 152.0
           
 115.9
           
 141.4
        
 487.2
        
 19.0
             
 24.5
             
 88.3
             
 186.5
           
 226.3
        
 768.2
        
 30.6
             
 39.2
             
 139.4
           
 1.7
               
 9.1
             
 9.1
             
 0.3
               
 1.6
               
 1.6
               
-
                    
 6.7
             
 6.7
             
-
                
 1.2
               
 1.2
               
( 0.4)
              
( 2.1)
            
( 1.3)
            
( 0.1)
              
( 0.4)
              
( 0.2)
              
( 0.5)
              
( 3.4)
            
( 1.9)
            
( 0.1)
              
( 0.6)
              
( 0.3)
              
 0.8
               
 3.8
             
 3.0
             
 0.1
               
 0.6
               
 0.2
               
 1.2
               
 5.7
             
 6.4
             
 0.2
               
 0.8
               
 0.6
               
 118.0
           
 152.2
        
 498.0
        
 19.3
             
 26.3
             
 89.9
             
 187.2
           
 235.3
        
 779.4
        
 30.7
             
 40.6
             
 140.9
           
 17.0
             
 17.8
           
 43.9
           
 2.8
               
 3.1
               
 7.8
               
 3.2
               
 3.6
             
 30.3
           
 0.5
               
 0.6
               
 5.7
               
 4.3
               
 11.0
           
 20.8
           
 0.7
               
 1.9
               
 3.8
               
 5.7
               
 13.7
           
 29.4
           
 0.9
               
 2.4
               
 5.4
               
 15.0
             
 5.7
             
 8.5
             
 2.5
               
 1.0
               
 2.0
               
 15.3
             
 23.3
           
 99.1
           
 2.5
               
 4.1
               
 17.7
             
-
                    
( 0.1)
            
 1.6
             
-
                
-
                
 0.3
               
 0.1
               
 0.5
             
 3.4
             
-
                
 0.1
               
 0.6
               
-
                    
-
                  
-
                  
-
                
-
                
-
                
-
                    
-
                  
-
                  
-
                
-
                
-
                
-
                    
-
                  
-
                  
-
                
-
                
-
                
-
                    
-
                  
-
                  
-
                
-
                
-
                
-
                    
( 0.1)
            
 1.6
             
-
                
-
                
 0.3
               
 0.1
               
 0.5
             
 3.4
             
-
                
 0.1
               
 0.6
               
background image
FREE STATE
Surface Operations
Prepared in accordance with International
Quarter
Quarter
Year
Quarter
Quarter
Year
Accounting Standards.
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
OPERATING RESULTS
GOLD
Area mined
- m2 
/
- ft2
- 000
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
Milled - 000
- tonnes
/
- tons
- reef
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - surface and dump reclamation
 620
              
 529
            
1 898
         
 683
              
 583
              
2 092
            
 - total
 620
              
 529
            
1 898
         
 683
              
 583
              
2 092
            
Yield
- g/t
/
- oz/t
- reef
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - surface and dump reclamation
 0.95
             
 1.01
           
 1.28
           
 0.028
           
 0.029
           
 0.037
           
 - average
 0.95
             
 1.01
           
 1.28
           
 0.028
           
 0.029
           
 0.037
           
Gold produced
- kg
/
- oz 000
- reef
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 - surface and dump reclamation
 592
              
 532
            
2 435
         
 19
                
 17
                
 78
                
 - total
 592
              
 532
            
2 435
         
 19
                
 17
                
 78
                
Revenue
- R/kg
/
- $/oz
- sold
61 003
         
61 186
       
56 546
       
 311
              
 330
              
 325
              
Cash costs
- R
/
- $
- ton milled
 44
                
 45
              
 50
              
 7
                  
 7
                  
 8
                  
- R/kg
/
- $/oz
- produced
46 079
         
45 158
       
39 095
       
 235
              
 243
              
 221
              
PRODUCTIVITY
per employee
- g
/
- oz
- target
 177
              
 126
            
 138
            
 5.69
             
 4.05
             
 4.44
             
- actual
 219
              
 239
            
 214
            
 7.04
             
 7.68
             
 6.88
             
per employee
- m2
/
- ft2
- target
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- actual
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
FINANCIAL RESULTS (MILLION)
Gold normal revenue
 36.1
             
 32.5
           
 137.7
        
 5.9
               
 5.7
               
 25.5
             
Accelerated hedge revenue
-
                    
-
                  
-
                  
-
                
-
                
-
                
Total gold revenue
 36.1
             
 32.5
           
 137.7
        
 5.9
               
 5.7
               
 25.5
             
Cost of sales
 28.7
             
 23.1
           
 101.3
        
 4.7
               
 4.0
               
 18.5
             
Cash costs
 27.3
             
 24.0
           
 95.2
           
 4.5
               
 4.2
               
 17.3
             
Retrenchment costs
-
                    
-
                  
-
                  
-
                
-
                
-
                
Rehabilitation costs
( 0.1)
              
( 4.0)
            
( 3.4)
            
-
                
( 0.7)
              
( 0.6)
              
Other non-cash costs
 0.2
               
 0.8
             
 0.1
             
( 0.1)
              
-
                
-
                
Production costs
 27.4
             
 20.8
           
 91.9
           
 4.4
               
 3.5
               
 16.7
             
Amortisation costs
 0.3
               
 0.3
             
 4.5
             
 0.1
               
 0.1
               
 0.9
               
Inventory change
 1.0
               
 2.0
             
 4.9
             
 0.2
               
 0.4
               
 0.9
               
Profit from operations
 7.4
               
 9.4
             
 36.4
           
 1.2
               
 1.7
               
 7.0
               
Capital expenditure
- mining direct
( 0.4)
              
-
                  
-
                  
( 0.1)
              
-
                
-
                
- other
-
                    
-
                  
-
                  
-
                
-
                
-
                
- recoupments
-
                    
-
                  
-
                  
-
                
-
                
-
                
Net capital expenditure
( 0.4)
              
-
                  
-
                  
( 0.1)
              
-
                
-
                
background image
Joel Mine
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
 63
                
 65
              
 281
            
 678
            
 700
            
3 025
         
 311
              
 373
            
1 328
         
 343
            
 411
            
1 464
         
 50
                
-
                  
-
                  
 55
              
-
                  
-
                  
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 361
              
 373
            
1 328
         
 398
            
 411
            
1 464
         
 6.20
             
 6.38
           
 6.10
           
 0.181
        
 0.186
        
 0.178
        
 0.60
             
-
                  
-
                  
 0.018
        
-
                  
-
                  
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 5.43
             
 6.38
           
 6.10
           
 0.158
        
 0.186
        
 0.178
        
1 929
            
2 380
         
8 105
         
 62
              
 77
              
 261
            
 30
                
-
                  
-
                  
 1
                
-
                  
-
                  
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
1 959
            
2 380
         
8 105
         
 63
              
 77
              
 261
            
61 004
         
61 186
       
58 847
       
 311
            
 330
            
 330
            
 250
              
 255
            
 256
            
 37
              
 40
              
 42
              
46 013
         
40 012
       
41 975
       
 235
            
 216
            
 236
            
 150
              
 152
            
 162
            
 4.82
           
 4.89
           
 5.21
           
 136
              
 167
            
 148
            
 4.37
           
 5.37
           
 4.76
           
 5.29
             
 5.54
           
 5.75
           
 56.94
        
 59.63
        
 61.89
        
 4.37
             
 4.57
           
 5.13
           
 47.04
        
 49.19
        
 55.22
        
 119.5
           
 145.7
        
 477.0
        
 19.6
           
 25.2
           
 85.9
           
-
                    
-
                  
-
                  
-
              
-
              
-
              
 119.5
           
 145.7
        
 477.0
        
 19.6
           
 25.2
           
 85.9
           
 101.4
           
 107.4
        
 395.6
        
 16.6
           
 18.5
           
 71.5
           
 90.1
             
 95.2
           
 340.2
        
 14.8
           
 16.5
           
 61.6
           
-
                    
-
                  
-
                  
-
              
-
              
-
              
 0.3
               
-
                  
( 0.4)
            
-
              
-
              
( 0.1)
            
( 0.4)
              
 0.7
             
 1.4
             
( 0.1)
            
-
              
 0.2
             
 90.0
             
 95.9
           
 341.2
        
 14.7
           
 16.5
           
 61.7
           
 11.0
             
 15.5
           
 63.4
           
 1.8
             
 2.7
             
 11.6
           
 0.4
               
( 4.0)
            
( 9.0)
            
 0.1
             
( 0.7)
            
( 1.8)
            
 18.1
             
 38.3
           
 81.4
           
 3.0
             
 6.7
             
 14.4
           
 33.5
             
 41.2
           
 192.3
        
 5.5
             
 7.1
             
 35.6
           
-
                    
-
                  
-
                  
-
              
-
              
-
              
-
                    
-
                  
-
                  
-
              
-
              
-
              
 33.5
             
 41.2
           
 192.3
        
 5.5
             
 7.1
             
 35.6
           
background image
WEST WITS
TauTona Mine (East Mine)
Prepared in accordance with International
Quarter
Quarter
Year
Quarter
Quarter
Year
Accounting Standards.
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
OPERATING RESULTS
GOLD
Area mined
- m2 
/
- ft2
- 000
 65
                
 80
              
 308
            
 700
              
 861
              
3 315
            
Milled - 000
- tonnes /
- tons
- reef
 430
              
 459
            
1 845
         
 474
              
 506
              
2 034
            
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- total
 430
              
 459
            
1 845
         
 474
              
 506
              
2 034
            
Yield
- g/t
/
- oz/t
- reef
 11.34
           
 12.57
        
 12.22
        
 0.331
           
 0.367
           
 0.356
           
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- average
 11.34
           
 12.57
        
 12.22
        
 0.331
           
 0.367
           
 0.356
           
Gold produced
- kg
/
- oz 000
- reef
4 877
            
5 769
         
22 542
       
 157
              
 186
              
 725
              
- waste
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
- total
4 877
            
5 769
         
22 542
       
 157
              
 186
              
 725
              
Revenue
- R/kg
/
- $/oz
- sold
61 113
         
61 195
       
57 642
       
 312
              
 330
              
 324
              
Cash costs
- R
/
- $
- ton milled
 375
              
 360
            
 344
            
 56
                
 56
                
 57
                
- R/kg
/
- $/oz
- produced
33 102
         
28 609
       
28 122
       
 169
              
 154
              
 159
              
PRODUCTIVITY
per employee
- g
/
- oz
- target
 270
              
 216
            
 213
            
 8.68
             
 6.94
             
 6.85
             
- actual
 246
              
 277
            
 270
            
 7.91
             
 8.91
             
 8.68
             
per employee
- m2
/
- ft2
- target
 3.90
             
 4.14
           
 3.93
           
 41.98
           
 44.56
           
 42.30
           
- actual
 3.28
             
 3.85
           
 3.69
           
 35.31
           
 41.44
           
 39.72
           
FINANCIAL RESULTS (MILLION)
Gold normal revenue
 297.5
           
 381.7
        
1 321.6
      
 48.7
             
 66.1
             
 238.8
           
Accelerated hedge revenue
 0.5
               
 0.1
             
 2.8
             
 0.1
               
-
                    
 0.5
               
Total gold revenue
 298.0
           
 381.8
        
1 324.4
      
 48.8
             
 66.1
             
 239.3
           
Cost of sales
 178.7
           
 200.7
        
 704.5
        
 29.2
             
 34.7
             
 127.8
           
Cash costs
 161.4
           
 165.1
        
 633.9
        
 26.5
             
 28.6
             
 115.1
           
Retrenchment costs
 0.5
               
 0.1
             
 2.8
             
 0.1
               
-
                    
 0.5
               
Rehabilitation costs
( 0.1)
              
( 1.0)
            
 2.0
             
-
                    
( 0.2)
              
 0.3
               
Other non-cash costs
 1.0
               
 2.2
             
 4.5
             
-
                    
 0.4
               
 0.9
               
Production costs
 162.8
           
 166.4
        
 643.2
        
 26.6
             
 28.8
             
 116.8
           
Amortisation costs
 21.5
             
 12.2
           
 45.1
           
 3.5
               
 2.1
               
 8.2
               
Inventory change
( 5.6)
              
 22.1
           
 16.2
           
( 0.9)
              
 3.8
               
 2.8
               
Profit from operations
 119.3
           
 181.1
        
 619.9
        
 19.6
             
 31.4
             
 111.5
           
Capital expenditure
- mining direct
 0.6
               
 2.8
             
 5.6
             
 0.1
               
 0.4
               
 0.9
               
- other
 0.1
               
 0.9
             
 1.6
             
-
                    
 0.2
               
 0.3
               
- recoupments
-
                    
-
                  
( 0.1)
            
-
                    
-
                    
-
                    
Net capital expenditure
 0.7
               
 3.7
             
 7.1
             
 0.1
               
 0.6
               
 1.2
               
background image
Savuka Mine (West Mine)
Mponeng Mine (South Mine)
Quarter
Quarter
Year
Quarter
Quarter
Year
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
Rand / Metric
Dollar / Imperial
 50
                
 47
              
 225
            
 538
              
 506
              
2 422
            
 63
                
 64
              
 272
            
 678
              
 689
              
2 928
            
 288
              
 248
            
1 230
         
 317
              
 274
              
1 356
            
 417
              
 428
            
1 733
         
 460
              
 471
              
1 910
            
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 288
              
 248
            
1 230
         
 317
              
 274
              
1 356
            
 417
              
 428
            
1 733
         
 460
              
 471
              
1 910
            
 6.59
             
 6.58
           
 6.78
           
 0.192
           
 0.192
           
 0.198
           
 6.25
             
 6.36
           
 7.49
           
 0.182
           
 0.185
           
 0.218
           
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
 6.59
             
 6.58
           
 6.78
           
 0.192
           
 0.192
           
 0.198
           
 6.25
             
 6.36
           
 7.49
           
 0.182
           
 0.185
           
 0.218
           
1 897
            
1 631
         
8 335
         
 61
                
 52
                
 268
              
2 605
            
2 720
         
12 980
       
 84
                
 87
                
 417
              
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
1 897
            
1 631
         
8 335
         
 61
                
 52
                
 268
              
2 605
            
2 720
         
12 980
       
 84
                
 87
                
 417
              
61 052
         
61 193
       
57 996
       
 311
              
 330
              
 328
              
61 116
         
61 194
       
57 246
       
 312
              
 330
              
 325
              
 401
              
 426
            
 347
            
 60
                
 67
                
 57
                
 379
              
 348
            
 341
            
 56
                
 55
                
 56
                
60 899
         
64 833
       
51 230
       
 310
              
 349
              
 290
              
60 618
         
54 759
       
45 471
       
 309
              
 295
              
 257
              
 167
              
 150
            
 139
            
 5.37
             
 4.82
             
 4.47
             
 190
              
 174
            
 160
            
 6.11
             
 5.59
             
 5.14
             
 118
              
 101
            
 126
            
 3.79
             
 3.25
             
 4.05
             
 149
              
 149
            
 183
            
 4.79
             
 4.79
             
 5.88
             
 4.54
             
 4.37
           
 4.11
           
 48.87
           
 47.04
           
 44.24
           
 4.04
             
 4.04
           
 3.72
           
 43.49
           
 43.49
           
 40.04
           
 3.11
             
 2.91
           
 3.41
           
 33.48
           
 31.32
           
 36.70
           
 3.61
             
 3.49
           
 3.84
           
 38.86
           
 37.57
           
 41.33
           
 115.7
           
 111.2
        
 487.0
        
 19.0
             
 19.2
             
 88.4
             
 158.9
           
 181.1
        
 752.9
        
 26.1
             
 31.3
             
 137.3
           
 0.1
               
-
                  
 6.4
             
-
                    
-
                    
 1.3
               
 0.3
               
-
                  
 2.6
             
-
                    
-
                    
 0.4
               
 115.8
           
 111.2
        
 493.4
        
 19.0
             
 19.2
             
 89.7
             
 159.2
           
 181.1
        
 755.5
        
 26.1
             
 31.3
             
 137.7
           
 117.4
           
 115.0
        
 450.1
        
 19.3
             
 20.0
             
 82.0
             
 161.6
           
 167.2
        
 635.5
        
 26.5
             
 29.0
             
 115.2
           
 115.5
           
 105.7
        
 427.0
        
 18.9
             
 18.3
             
 77.7
             
 157.9
           
 148.9
        
 590.2
        
 25.9
             
 25.8
             
 107.3
           
 0.1
               
-
                  
 6.4
             
-
                    
-
                    
 1.3
               
 0.3
               
-
                  
 2.6
             
-
                    
-
                    
 0.4
               
-
                    
( 0.3)
            
 0.9
             
-
                    
-
                    
 0.2
               
-
                    
( 0.4)
            
 1.4
             
-
                    
( 0.1)
              
 0.2
               
 0.4
               
 1.8
             
 3.0
             
 0.2
               
 0.4
               
 0.5
               
 0.6
               
 1.9
             
 3.4
             
 0.1
               
 0.3
               
 0.4
               
 116.0
           
 107.2
        
 437.3
        
 19.1
             
 18.7
             
 79.7
             
 158.8
           
 150.4
        
 597.6
        
 26.0
             
 26.0
             
 108.3
           
 3.6
               
 1.6
             
 8.9
             
 0.6
               
 0.2
               
 1.6
               
 5.8
               
 6.4
             
 31.0
           
 1.0
               
 1.2
               
 5.7
               
( 2.2)
              
 6.2
             
 3.9
             
( 0.4)
              
 1.1
               
 0.7
               
( 3.0)
              
 10.4
           
 6.9
             
( 0.5)
              
 1.8
               
 1.2
               
( 1.6)
              
( 3.8)
            
 43.3
           
( 0.3)
              
( 0.8)
              
 7.7
               
( 2.4)
              
 13.9
           
 120.0
        
( 0.4)
              
 2.3
               
 22.5
             
 1.7
               
 4.8
             
 6.5
             
 0.3
               
 0.8
               
 1.1
               
 26.1
             
 30.4
           
 116.3
        
 4.2
               
 5.4
               
 21.1
             
 0.5
               
 1.9
             
 2.4
             
 0.1
               
 0.3
               
 0.4
               
 5.2
               
 12.1
           
 25.0
           
 0.9
               
 2.1
               
 4.4
               
-
                    
( 0.1)
            
( 0.1)
            
-
                    
-
                    
-
                    
-
                    
( 0.4)
            
( 1.7)
            
-
                    
( 0.1)
              
( 0.3)
              
 2.2
               
 6.6
             
 8.8
             
 0.4
               
 1.1
               
 1.5
               
 31.3
             
 42.1
           
 139.6
        
 5.1
               
 7.4
               
 25.2
             
background image
WEST WITS
Elandsrand Mine
Prepared in accordance with International
Quarter
Quarter
Year
Quarter
Quarter
Year
Accounting Standards.
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
OPERATING RESULTS
GOLD
Area mined
- m2 
/
- ft2
- 000
 109
              
 126
            
 464
            
1 173
            
1 356
            
4 994
            
Milled - 000
- tonnes /
- tons
- reef
 468
              
 535
            
2 150
         
 516
              
 590
              
2 370
            
- waste
 6
                  
 8
                
 35
              
 7
                  
 9
                  
 39
                
- total
 474
              
 543
            
2 185
         
 523
              
 599
              
2 409
            
Yield
- g/t
/
- oz/t
- reef
 6.76
             
 6.96
           
 6.96
           
 0.197
           
 0.203
           
 0.203
           
- waste
 0.33
             
 0.38
           
 0.29
           
 0.010
           
 0.011
           
 0.008
           
- average
 6.68
             
 6.86
           
 6.85
           
 0.195
           
 0.200
           
 0.200
           
Gold produced
- kg
/
- oz 000
- reef
3 162
            
3 722
         
14 964
       
 102
              
 120
              
 481
              
- waste
 2
                  
 3
                
 10
              
-
                    
-
                    
-
                    
- total
3 164
            
3 725
         
14 974
       
 102
              
 120
              
 481
              
Revenue
- R/kg
/
- $/oz
- sold
61 841
         
61 280
       
57 976
       
 315
              
 330
              
 326
              
Cash costs
- R
/
- $
- ton milled
 336
              
 289
            
 286
            
 50
                
 46
                
 47
                
- R/kg
/
- $/oz
- produced
50 330
         
42 193
       
41 760
       
 257
              
 227
              
 236
              
PRODUCTIVITY
per employee
- g
/
- oz
- target
 223
              
 201
            
 196
            
 7.17
             
 6.46
             
 6.30
             
- actual
 168
              
 193
            
 190
            
 5.40
             
 6.21
             
 6.11
             
per employee
- m2
/
- ft2
- target
 6.74
             
 6.22
           
 6.05
           
 72.55
           
 66.95
           
 65.12
           
- actual
 5.80
             
 6.53
           
 5.89
           
 62.43
           
 70.29
           
 63.40
           
FINANCIAL RESULTS (MILLION)
Gold normal revenue
 193.1
           
 246.0
        
 861.2
        
 31.7
             
 42.6
             
 155.9
           
Accelerated hedge revenue
 2.6
               
 0.4
             
 6.9
             
 0.4
               
 0.1
               
 1.3
               
Total gold revenue
 195.7
           
 246.4
        
 868.1
        
 32.1
             
 42.7
             
 157.2
           
Cost of sales
 171.3
           
 183.1
        
 690.5
        
 28.1
             
 31.7
             
 125.7
           
Cash costs
 159.2
           
 157.2
        
 625.3
        
 26.1
             
 27.2
             
 113.8
           
Retrenchment costs
 2.6
               
 0.4
             
 6.9
             
 0.4
               
 0.1
               
 1.3
               
Rehabilitation costs
( 0.1)
              
 0.1
             
( 4.8)
            
-
                    
-
                    
( 1.0)
              
Other non-cash costs
 0.6
               
 1.5
             
 2.8
             
 0.1
               
 0.3
               
 0.6
               
Production costs
 162.3
           
 159.2
        
 630.2
        
 26.6
             
 27.6
             
 114.7
           
Amortisation costs
 9.7
               
 10.4
           
 44.9
           
 1.6
               
 1.8
               
 8.3
               
Inventory change
( 0.7)
              
 13.5
           
 15.4
           
( 0.1)
              
 2.3
               
 2.7
               
Profit from operations
 24.4
             
 63.3
           
 177.6
        
 4.0
               
 11.0
             
 31.5
             
Capital expenditure
- mining direct
 27.6
             
 29.0
           
 90.2
           
 4.5
               
 5.0
               
 16.1
             
- other
 4.6
               
 5.4
             
 8.4
             
 0.8
               
 0.9
               
 1.5
               
- recoupments
( 0.1)
              
( 0.1)
            
( 0.5)
            
-
                    
-
                    
( 0.1)
              
Net capital expenditure
 32.1
             
 34.3
           
 98.1
           
 5.3
               
 5.9
               
 17.5
             
background image
Deelkraal Mine
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
 34
                
 39
              
 176
            
 366
            
 419
            
1 894
         
 186
              
 227
            
1 020
         
 205
            
 250
            
1 124
         
 114
              
 61
              
 201
            
 126
            
 68
              
 222
            
 300
              
 288
            
1 221
         
 331
            
 318
            
1 346
         
 7.31
             
 6.41
           
 6.71
           
 0.213
        
 0.187
        
 0.196
        
 0.77
             
 0.66
           
 0.97
           
 0.023
        
 0.019
        
 0.028
        
 4.83
             
 5.19
           
 5.77
           
 0.141
        
 0.151
        
 0.168
        
1 360
            
1 455
         
6 847
         
 44
              
 47
              
 220
            
 88
                
 40
              
 194
            
 3
                
 1
                
 6
                
1 448
            
1 495
         
7 041
         
 47
              
 48
              
 226
            
61 331
         
62 132
       
58 599
       
 313
            
 335
            
 334
            
 283
              
 309
            
 289
            
 42
              
 49
              
 48
              
58 705
         
59 528
       
50 030
       
 299
            
 321
            
 284
            
 187
              
 137
            
 137
            
 6.03
           
 4.40
           
 4.40
           
 122
              
 124
            
 136
            
 3.92
           
 3.99
           
 4.37
           
 4.50
             
 3.48
           
 3.46
           
 48.44
        
 37.46
        
 37.24
        
 2.87
             
 3.23
           
 3.40
           
 30.89
        
 34.77
        
 36.60
        
 88.3
             
 99.3
           
 415.2
        
 14.5
           
 17.2
           
 76.0
           
 0.5
               
 1.5
             
 12.5
           
 0.1
             
 0.2
             
 2.4
             
 88.8
             
 100.8
        
 427.7
        
 14.6
           
 17.4
           
 78.4
           
 94.4
             
 106.8
        
 413.5
        
 15.5
           
 18.4
           
 75.5
           
 85.0
             
 89.0
           
 352.3
        
 13.9
           
 15.4
           
 64.2
           
 0.5
               
 1.5
             
 12.5
           
 0.1
             
 0.2
             
 2.4
             
 0.3
               
 0.5
             
( 1.3)
            
 0.1
             
 0.1
             
( 0.3)
            
 0.5
               
 1.9
             
 3.0
             
 0.1
             
 0.2
             
 0.5
             
 86.3
             
 92.9
           
 366.5
        
 14.2
           
 15.9
           
 66.8
           
 8.4
               
 8.5
             
 40.5
           
 1.4
             
 1.5
             
 7.5
             
( 0.3)
              
 5.4
             
 6.5
             
( 0.1)
            
 1.0
             
 1.2
             
( 5.6)
              
( 6.0)
            
 14.2
           
( 0.9)
            
( 1.0)
            
 2.9
             
 3.8
               
 4.7
             
 12.9
           
 0.6
             
 0.8
             
 2.3
             
-
                    
-
                  
 1.1
             
-
                  
-
                  
 0.2
             
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 3.8
               
 4.7
             
 14.0
           
 0.6
             
 0.8
             
 2.5
             
background image
OTHER AFRICAN OPERATIONS
Navachab - Attributable 70%
Prepared in accordance with International
Quarter
Quarter
Year
Quarter
Quarter
Year
Accounting Standards.
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
OPERATING RESULTS
GOLD
Mined
- tonnes
/
- tons
- 000
 987
              
 970
            
3 621
          
1 088
            
1 069
            
3 991
            
Volume mined
- bcm
/
- bcy
- 000
 365
              
 358
            
1 330
          
 477
              
 469
              
1 740
            
Stripping ratio
- t(mined-treated)
 /t treated
 3.15
             
 2.75
           
 2.69
           
 3.15
             
 2.74
             
 2.69
             
Treated
- tonnes
/
- tons
- 000
 238
              
 259
            
 981
            
 262
              
 285
              
1 081
            
Mill head grade
- g/t
/
- oz/t
 1.50
             
 1.58
           
 1.46
           
 0.044
           
 0.046
           
 0.043
           
Metallurgical recovery
- %
 91.24
           
 89.62
         
 90.74
         
 91.24
           
 89.62
           
 90.74
           
Gold produced
- kg
/
- oz 000
 325
              
 366
            
1 298
          
 10
                
 12
                
 42
                
Revenue
- R/kg
/
- $/oz
- sold
63 224
          
55 354
        
54 636
        
 322
              
 298
              
 307
              
Cash costs
- R/kg
/
- $/oz
- produced
51 612
          
44 377
        
47 846
        
 263
              
 239
              
 270
              
PRODUCTIVITY
per employee
- g
/
- oz
- target
 431
              
 488
            
 480
            
 13.86
           
 15.69
           
 15.43
           
- actual
 449
              
 545
            
 471
            
 14.45
           
 17.52
           
 15.14
           
FINANCIAL RESULTS ( MILLION)
Gold revenue
 22.0
             
 19.7
           
 71.0
           
 3.6
               
 3.4
               
 12.8
             
Cost of sales
 16.6
             
 18.2
           
 69.8
           
 2.7
               
 3.2
               
 12.7
             
Cash costs
 16.8
             
 16.2
           
 62.1
           
 2.7
               
 2.8
               
 11.3
             
Rehabilitation costs
 0.5
               
-
                  
 0.4
             
 0.1
               
-
                    
 0.1
               
Other non-cash costs
 0.1
               
 0.2
             
 0.6
             
-
                    
 0.1
               
 0.1
               
Production costs
 17.4
             
 16.4
           
 63.1
           
 2.8
               
 2.9
               
 11.5
             
Amortisation costs
 0.5
               
 1.8
             
 6.7
             
 0.1
               
 0.3
               
 1.2
               
Inventory change
( 1.3)
              
-
                  
-
                  
( 0.2)
              
-
                    
-
                    
Profit from operations
 5.4
               
 1.5
             
 1.2
             
 0.9
               
 0.2
               
 0.1
               
Capital expenditure
 0.1
               
 0.1
             
 1.9
             
-
                    
-
                    
 0.4
               
NOTE: The financial results for Sadiola have been equity accounted
              and the detail above is given for information only.
background image
Sadiola - Attributable 38%
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
1 554
            
1 237
          
3 906
          
1 713
          
1 364
          
4 306
          
 806
              
 658
            
2 062
          
1 054
          
 861
            
2 697
          
 2.27
             
 1.45
           
 1.08
           
 2.27
           
 1.46
           
 1.08
           
 475
              
 504
            
1 882
          
 524
            
 556
            
2 075
          
 3.00
             
 3.24
           
 3.30
           
 0.087
         
 0.095
         
 0.096
         
 96.50
           
 95.94
         
 96.40
         
 96.50
         
 95.94
         
 96.40
         
1 373
            
1 567
          
5 983
          
 44
              
 50
              
 192
            
63 305
          
60 446
        
55 739
        
 323
            
 326
            
 314
            
22 492
          
18 312
        
18 424
        
 115
            
 99
              
 104
            
2 506
            
2 638
          
2 538
          
 80.57
         
 84.82
         
 81.60
         
2 749
            
2 800
          
2 572
          
 88.38
         
 90.01
         
 82.69
         
 86.2
             
 94.8
           
 333.2
         
 14.1
           
 16.4
           
 60.3
           
 54.4
             
 52.2
           
 195.3
         
 8.9
             
 9.0
             
 35.2
           
 30.9
             
 28.5
           
 110.2
         
 5.1
             
 4.9
             
 19.9
           
 0.3
               
-
                  
-
                  
 0.1
             
-
                  
-
                  
 6.0
               
 6.0
             
 20.0
           
 0.9
             
 1.0
             
 3.5
             
 37.2
             
 34.5
           
 130.2
         
 6.1
             
 5.9
             
 23.4
           
 18.2
             
 17.2
           
 64.5
           
 3.0
             
 3.0
             
 11.7
           
( 1.0)
              
 0.5
             
 0.6
             
( 0.2)
            
 0.1
             
 0.1
             
 31.8
             
 42.6
           
 137.9
         
 5.2
             
 7.4
             
 25.1
           
 3.2
               
 3.5
             
 11.1
           
 0.5
             
 0.6
             
 2.0
             
background image
NORTH AMERICAN OPERATIONS
Cripple Creek & Victor J.V.
Prepared in accordance with International
Quarter
Quarter
Year
Quarter
Quarter
Year
Accounting Standards.
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
OPERATING RESULTS
GOLD
Underground Operations
Mined
- tonnes
/
- tons
- 000
Treated
- tonnes
/
- tons
- 000
Mill head grade
- g/t
/
- oz/t
Gold in ore
- kg
/
- oz 000
Yield
- g/t
/
- oz/t
Gold produced
- kg
/
- oz 000
Open-pit Operations
Mined
- tonnes
/
- tons
- 000
6 489
            
5 830
          
24 747
        
7 153
            
6 427
            
27 279
          
Stripping ratio
- t(mined-treated)
 /t treated
 1.68
             
 1.22
           
 1.54
           
 1.68
             
 1.22
             
 1.54
             
Treated
- tonnes
/
- tons
- 000
2 423
            
2 628
          
9 746
          
2 671
            
2 897
            
10 743
          
Mill head grade
- g/t
/
- oz/t
 0.59
             
 0.65
           
 0.73
           
 0.017
           
 0.019
           
 0.021
           
Gold in ore
- kg
/
- oz 000
1 435
            
1 715
          
7 154
          
 46
                
 55
                
 230
              
Yield
- g/t
/
- oz/t
 0.59
             
 0.65
           
 0.73
           
 0.017
           
 0.019
           
 0.021
           
Gold produced
- kg
/
- oz 000
1 435
            
1 715
          
7 154
          
 46
                
 55
                
 230
              
Total
Yield
- g/t
/
- oz/t
 0.59
             
 0.65
           
 0.73
           
 0.017
           
 0.019
           
 0.021
           
Gold produced
- kg
/
- oz 000
1 435
            
1 715
          
7 154
          
 46
                
 55
                
 230
              
Revenue
- R/kg
/
- $/oz
- sold
56 304
          
54 350
        
52 132
        
 287
              
 293
              
 293
              
Cash costs
- R/kg
/
- $/oz
- produced
32 334
          
31 662
        
32 877
        
 165
              
 171
              
 185
              
PRODUCTIVITY
per employee
- g
/
- oz
- target
1 804
            
1 804
          
1 804
          
 58
                
 58
                
 58
                
- actual
1 555
            
1 928
          
2 024
          
 50
                
 62
                
 65
                
FINANCIAL RESULTS (MILLION)
Gold revenue
 80.5
             
 93.0
           
 373.6
         
 13.2
             
 16.1
             
 67.5
             
Cost of sales
 67.7
             
 76.3
           
 328.2
         
 11.1
             
 13.2
             
 59.3
             
Cash costs
 46.4
             
 54.3
           
 235.2
         
 7.6
               
 9.4
               
 42.5
             
Rehabilitation costs
 2.4
               
 2.9
             
 10.0
           
 0.4
               
 0.5
               
 1.8
               
Other non-cash costs
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
Production costs
 48.8
             
 57.2
           
 245.2
         
 8.0
               
 9.9
               
 44.3
             
Amortisation costs
 18.9
             
 19.1
           
 83.0
           
 3.1
               
 3.3
               
 15.0
             
Inventory change
-
                    
-
                  
-
                  
-
                    
-
                    
-
                    
Profit from operations
 12.8
             
 16.7
           
 45.4
           
 2.1
               
 2.9
               
 8.2
               
Capital expenditure
 21.4
             
 19.6
           
 70.8
           
 3.5
               
 3.4
               
 12.8
             
Note: The gold produced for underground and open-pit
operations is allocated on gold in ore.
background image
Jerritt Canyon J.V. - Attributable 70%
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
 139
              
 129
            
 483
            
 153
            
 142
            
 532
            
 99
                
 87
              
 326
            
 109
            
 96
              
 359
            
 12.58
           
 13.21
         
 8.01
           
 0.367
         
 0.385
         
 0.234
         
1 245
            
1 149
          
2 612
          
 40
              
 37
              
 84
              
 10.78
           
 12.24
         
 11.59
         
 0.312
         
 0.354
         
 0.337
         
1 067
            
1 065
          
3 777
          
 34
              
 34
              
 121
            
2 121
            
2 356
          
9 896
          
2 338
          
2 597
          
10 909
        
 16.98
           
 17.85
         
 31.77
         
 16.98
         
 17.85
         
 31.77
         
 118
              
 125
            
 302
            
 130
            
 138
            
 333
            
 8.31
             
 7.29
           
 8.65
           
 0.246
         
 0.210
         
 0.252
         
 980
              
 911
            
2 613
          
 32
              
 29
              
 84
              
 6.71
             
 6.31
           
 12.51
         
 0.192
         
 0.181
         
 0.363
         
 792
              
 789
            
3 778
          
 25
              
 25
              
 121
            
 8.57
             
 8.75
           
 12.03
         
 0.247
         
 0.252
         
 0.350
         
1 859
            
1 854
          
7 555
          
 59
              
 59
              
 242
            
56 304
          
61 663
        
58 359
        
 287
            
 332
            
 328
            
35 772
          
40 183
        
31 211
        
 185
            
 219
            
 176
            
1 928
            
1 866
          
1 866
          
 62
              
 60
              
 60
              
1 960
            
1 960
          
2 022
          
 63
              
 63
              
 65
              
 104.3
           
 114.3
         
 440.5
         
 17.1
           
 19.8
           
 79.6
           
 98.9
             
 116.6
         
 363.6
         
 16.2
           
 20.2
           
 65.7
           
 66.5
             
 74.5
           
 235.8
         
 10.9
           
 12.9
           
 42.6
           
 4.3
               
 6.9
             
 23.2
           
 0.7
             
 1.2
             
 4.2
             
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 70.8
             
 81.4
           
 259.0
         
 11.6
           
 14.1
           
 46.8
           
 28.1
             
 35.2
           
 104.6
         
 4.6
             
 6.1
             
 18.9
           
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 5.4
               
( 2.3)
            
 76.9
           
 0.9
             
( 0.4)
            
 13.9
           
 15.9
             
 32.9
           
 120.6
         
 2.6
             
 5.7
             
 21.8
           
background image
SOUTH AMERICAN OPERATIONS
Morro Velho
Prepared in accordance with International
Quarter
Quarter
Year
Quarter
Quarter
Year
Accounting Standards.
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
OPERATING RESULTS
GOLD
Underground Operations
Mined
- tonnes
/
- tons
- 000
 185
              
 192
            
 796
            
 204
            
 212
            
 877
            
Treated
- tonnes
/
- tons
- 000
 184
              
 194
            
 794
            
 203
            
 214
            
 876
            
Mill head grade
- g/t
/
- oz/t
 7.45
             
 8.34
           
 7.72
           
 0.217
         
 0.243
         
 0.226
         
Gold in ore
- kg
/
- oz 000
1 378
            
1 602
          
6 149
          
 44
              
 52
              
 198
            
Yield
- g/t
/
- oz/t
 6.93
             
 7.73
           
 7.17
           
 0.202
         
 0.224
         
 0.209
         
Gold produced
- kg
/
- oz 000
1 276
            
1 500
          
5 691
          
 41
              
 48
              
 183
            
Open-pit Operations
Mined
- tonnes
/
- tons
- 000
 263
              
 225
            
1 481
          
 290
            
 248
            
1 633
          
Stripping ratio
- t(mined-treated)
 /t treated
 9.12
             
 8.00
           
 11.66
         
 9.00
           
 7.86
           
 11.66
         
Treated
- tonnes
/
- tons
- 000
 26
                
 25
              
 117
            
 29
              
 28
              
 129
            
Mill head grade
- g/t
/
- oz/t
 6.00
             
 6.72
           
 5.58
           
 0.172
         
 0.179
         
 0.163
         
Gold in ore
- kg
/
- oz 000
 156
              
 168
            
 653
            
 5
                
 5
                
 21
              
Yield
- g/t
/
- oz/t
 5.58
             
 6.28
           
 5.16
           
 0.172
         
 0.179
         
 0.147
         
Gold produced
- kg
/
- oz 000
 145
              
 157
            
 604
            
 5
                
 5
                
 19
              
Total
Yield
- g/t
/
- oz/t
 6.77
             
 7.57
           
 6.91
           
 0.198
         
 0.219
         
 0.201
         
Gold produced
- kg
/
- oz 000
1 421
            
1 657
          
6 295
          
 46
              
 53
              
 202
            
Revenue
- R/kg
/
- $/oz
- sold
56 618
          
55 329
       
52 933
       
 289
            
 298
            
 298
            
Cash costs
- R/kg
/
- $/oz
- produced
26 179
          
29 511
       
32 597
       
 133
            
 160
            
 184
            
PRODUCTIVITY
per employee
- g
/
- oz
- target
 373
              
 404
            
 383
            
 12
              
 13
              
 12
              
- actual
 404
              
 467
            
 460
            
 13
              
 15
              
 15
              
FINANCIAL RESULTS (MILLION)
Gold revenue
 89.8
             
 76.3
           
 304.0
         
 14.7
           
 13.2
           
 54.9
           
Cost of sales
 61.8
             
 54.2
           
 246.5
         
 10.1
           
 9.4
             
 44.6
           
Cash costs
 37.2
             
 48.9
           
 205.2
         
 6.1
             
 8.5
             
 37.1
           
Rehabilitation costs
 0.2
               
 0.3
             
 2.0
             
-
                  
 0.1
             
 0.4
             
Other non-cash costs
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
Production costs
 37.4
             
 49.2
           
 207.2
         
 6.1
             
 8.6
             
 37.5
           
Amortisation costs
 14.4
             
 14.0
           
 55.2
           
 2.4
             
 2.4
             
 10.0
           
Inventory change
 10.0
             
( 9.0)
            
( 15.9)
          
 1.6
             
( 1.6)
            
( 2.9)
            
Profit from operations
 28.0
             
 22.1
           
 57.5
           
 4.6
             
 3.8
             
 10.3
           
Capital expenditure
 10.5
             
 19.6
           
 68.2
           
 1.7
             
 3.4
             
 12.3
           
Note: The gold produced for underground and open-pit
operations is allocated on gold in ore.
background image
Serra Grande - Attributable 50%
Cerro Vanguardia - Attributable 46.25%
Quarter
Quarter
Year
Quarter
Quarter
Year
Quarter
Quarter
Year
Quarter
Quarter
Year
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
ended
March
December
December
March
December
December
March
December
December
March
December
December
1999
1998
1998
1999
1998
1998
1999
1998
1998
1999
1998
1998
Rand / Metric
Dollar / Imperial
Rand / Metric
Dollar / Imperial
 75
                
 74
              
 300
            
 83
              
 82
              
 331
            
 74
                
 75
              
 301
            
 81
              
 82
              
 332
            
 7.99
             
 8.04
           
 7.81
           
 0.235
         
 0.232
         
 0.229
         
 591
              
 603
            
2 351
          
 19
              
 19
              
 76
              
 7.57
             
 7.88
           
 7.45
           
 0.222
         
 0.232
         
 0.217
         
 560
              
 591
            
2 243
          
 18
              
 19
              
 72
              
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 757
              
 622
            
1 702
          
 835
            
 686
            
1 876
          
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 9.81
             
 11.20
         
 28.34
         
 9.84
           
 11.25
         
 28.31
         
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 70
                
 51
              
 58
              
 77
              
 56
              
 64
              
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 16.89
           
 15.86
         
 14.48
         
 0.49
           
 0.46
           
 0.42
           
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
1 182
            
 809
            
 840
            
 38
              
 26
              
 27
              
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 18.21
           
 15.86
         
 13.95
         
 0.532
         
 0.464
         
 0.406
         
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
1 275
            
 809
            
 809
            
 41
              
 26
              
 26
              
 7.57
             
 7.88
           
 7.45
           
 0.222
         
 0.232
         
 0.217
         
 18.21
           
 15.86
         
 13.95
         
 0.532
         
 0.464
         
 0.406
         
 560
              
 591
            
2 243
          
 18
              
 19
              
 72
              
1 275
            
 809
            
 809
            
 41
              
 26
              
 26
              
56 696
          
55 329
       
52 719
       
 289
            
 298
            
 296
            
56 108
          
54 029
       
51 776
       
 286
            
 291
            
 291
            
23 929
          
29 272
       
27 775
       
 122
            
 158
            
 157
            
23 922
          
44 252
       
43 140
       
 122
            
 238
            
 242
            
 809
              
 871
            
 809
            
 26
              
 28
              
 26
              
2 550
            
2 737
          
1 151
          
 82
              
 88
              
 37
              
 840
              
 902
            
 871
            
 27
              
 29
              
 28
              
3 173
            
1 897
          
 467
            
 102
            
 61
              
 15
              
 36.3
             
 28.9
           
 111.2
         
 6.0
             
 5.0
             
 20.1
           
 73.2
             
 32.3
           
 31.0
           
 12.0
           
 5.6
             
 5.6
             
 23.8
             
 22.8
           
 86.4
           
 4.0
             
 4.0
             
 15.6
           
 43.9
             
 21.9
           
 22.7
           
 7.2
             
 3.8
             
 4.1
             
 13.4
             
 17.3
           
 62.3
           
 2.2
             
 3.0
             
 11.3
           
 30.5
             
 35.8
           
 34.9
           
 5.0
             
 6.2
             
 6.3
             
 0.3
               
 0.3
             
 1.1
             
 0.1
             
 0.1
             
 0.2
             
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
-
                    
-
                  
-
                  
-
                  
-
                  
-
                  
 13.7
             
 17.6
           
 63.4
           
 2.3
             
 3.1
             
 11.5
           
 30.5
             
 35.8
           
 34.9
           
 5.0
             
 6.2
             
 6.3
             
 7.0
               
 6.6
             
 24.4
           
 1.2
             
 1.2
             
 4.4
             
 12.2
             
 4.0
             
 4.4
             
 2.0
             
 0.7
             
 0.8
             
 3.1
               
( 1.4)
            
( 1.4)
            
 0.5
             
( 0.3)
            
( 0.3)
            
 1.2
               
( 17.9)
          
( 16.6)
          
 0.2
             
( 3.1)
            
( 3.0)
            
 12.5
             
 6.1
             
 24.8
           
 2.0
             
 1.0
             
 4.5
             
 29.3
             
 10.4
           
 8.3
             
 4.8
             
 1.8
             
 1.5
             
 3.1
               
 2.9
             
 16.1
           
 0.5
             
 0.5
             
 2.9
             
 4.9
               
 18.5
           
 281.1
         
 0.8
             
 3.2
             
 50.8
           
background image
SHAFT SINKING
SHAFT SINKING  (metres)
Quarter ended
Quarter ended
Year ended
March 1999
December 1998
December 1998
MOAB KHOTSONG MINE
Main shaft
Depth to date (below collar)
 2 392
           
 2 384
           
 2 384
           
Rock / ventilation sub-vertical shaft
Advance
  29
                
  14
                
  117
              
Depth to date
  835
              
  806
              
  806
              
Station cutting
  20
                
  313
              
  549
              
Man / material sub-vertical shaft
Depth to date
  81
                
  81
                
  81
                
JOEL MINE
Taung North Shaft
Advance
  112
              
  243
              
  719
              
Depth to date (below collar)
 1 116
           
 1 004
           
 1 004
           
MPONENG MINE (SOUTH MINE)
Sub Shaft (previously Western Deep Levels South Deepening)
Advance
  95
                
  75
                
  100
              
Depth to date (below collar)
 1 114
           
 1 019
           
 1 019
           
background image
SHAFT SINKING
SHAFT SINKING  (feet)
Quarter ended
Quarter ended
Year ended
March 1999
December 1998
December 1998
MOAB KHOTSONG MINE
Main shaft
Depth to date (below collar)
 7 847
         
 7 821
           
 7 821
           
Rock / ventilation sub-vertical shaft
Advance
  95
              
  46
                
  384
              
Depth to date
 2 740
         
 2 645
           
 2 645
           
Station cutting
  66
              
 1 028
           
 1 801
           
Man / material sub-vertical shaft
Depth to date
  266
           
  266
              
  266
              
JOEL MINE
Taung North Shaft
Advance
  366
           
  796
              
 2 356
           
Depth to date (below collar)
 3 655
         
 3 289
           
 3 289
           
MPONENG MINE (SOUTH MINE)
Sub Shaft (previously Western Deep Levels South Deepening)
Advance
  313
           
  244
              
  326
              
Depth to date (below collar)
 3 655
         
 3 342
           
 3 342
           
background image
DEVELOPMENT
Development values represent actual results of sampling, no allowances having been made for adjustments
necessary in estimating ore reserves.
Quarter ended March 1999
METRIC
Advance
Sampled
metres
metres
channel
gold
uranium
width
g/t
cm.g/t
kg/t
cm.g/t
cm
VAAL RIVER
Great Noligwa Mine
Vaal reef 
5 456
        
  492
        
 77.50
      
 34.77
         
 2 693
      
 3.24
        
 251.30
    
"C" reef
 910
         
  292
        
 8.80
        
 84.40
         
  743
        
 3.23
        
 28.42
      
Kopanang Mine
Vaal reef 
9 532
        
  728
        
 15.30
      
 106.80
      
 1 634
      
 3.92
        
 59.90
      
"C" reef
 228
         
  92
          
 44.80
      
 105.00
      
 4 706
      
 3.74
        
 167.66
    
Tau Lekoa Mine
Ventersdorp Contact reef
6 241
        
  741
        
 83.20
      
 9.76
           
  812
        
 0.12
        
 9.73
        
Moab Khotsong Mine
Vaal reef 
1 213
        
-
               
-
               
-
                 
-
               
-
               
-
               
FREE STATE
Bambanani Mine
Basal reef
3 810
        
  488
        
 82.80
      
 12.29
         
 1 018
      
 0.09
        
 7.29
        
Tshepong Mine
Basal reef
5 424
        
  592
        
 16.50
      
 69.07
         
 1 141
      
 1.83
        
 30.30
      
"B" reef
 199
         
-
               
-
               
-
                 
-
               
-
               
-
               
Matjhabeng Mine
Basal reef
1 725
        
  136
        
 14.90
      
 80.81
         
 1 207
      
 0.90
        
 13.48
      
"A" reef
 189
         
-
               
-
               
-
                 
-
               
-
               
-
               
Joel Mine
Taung South Shaft
Beatrix VS 5 composite reef
2 359
        
  804
        
 88.10
      
 9.08
           
  800
        
-
               
-
               
WEST WITS
TauTona Mine (East Mine)
Ventersdorp Contact reef
 1
             
-
               
-
               
-
                 
-
               
Carbon Leader reef
3 606
        
-
               
-
               
-
                 
-
               
Savuka Mine (West Mine)
Ventersdorp Contact reef
 784
         
-
               
-
               
-
                 
-
               
Carbon Leader reef
1 211
        
-
               
-
               
-
                 
-
               
Mponeng Mine (South Mine)
Ventersdorp Contact reef
6 282
        
  366
        
 83.90
      
 18.45
         
 1 548
      
Elandsrand Mine
Ventersdorp Contact reef
4 808
        
  928
        
 42.00
      
 29.61
         
 1 244
      
Deelkraal Mine
Ventersdorp Contact reef
1 023
        
  288
        
 119.00
    
 7.76
           
  924
        
(plus footwall bands)
background image
DEVELOPMENT
Development values represent actual results of sampling, no allowances having been made for adjustments
necessary in estimating ore reserves.
Quarter ended March 1999
IMPERIAL
Advance
Sampled
feet
feet
channel
gold
uranium
width
oz/t
ft.oz/t
lb/t
ft.lb/t
inches
VAAL RIVER
Great Noligwa Mine
Vaal reef 
17 899
     
1 614
        
 30.50
      
 1.03
        
 2.58
        
 6.62
        
 16.42
      
"C" reef
2 986
        
 958
         
 3.50
        
 2.51
        
 0.71
        
 6.59
        
 1.86
        
Kopanang Mine
Vaal reef 
31 274
     
2 388
        
 6.00
        
 3.18
        
 1.56
        
 7.99
        
 3.93
        
"C" reef
 747
         
 302
         
 17.60
      
 3.13
        
 4.50
        
 7.64
        
 11.00
      
Tau Lekoa Mine
Ventersdorp Contact reef
20 474
     
2 431
        
 32.80
      
 0.29
        
 0.78
        
 0.24
        
 0.64
        
Moab Khotsong Mine
Vaal reef 
3 980
        
-
               
-
               
-
               
-
               
-
               
-
               
FREE STATE
Bambanani Mine
Basal reef
12 499
     
1 601
        
 32.60
      
 0.36
        
 0.97
        
 0.18
        
 0.48
        
Tshepong Mine
Basal reef
17 797
     
1 942
        
 6.50
        
 2.01
        
 1.09
        
 3.66
        
 1.99
        
"B" reef
 653
         
-
               
-
               
-
               
-
               
-
               
-
               
Matjhabeng Mine
Basal reef
5 658
        
 446
         
 5.87
        
 2.36
        
 1.16
        
 1.80
        
 0.88
        
"A" reef
 619
         
-
               
-
               
-
               
-
               
-
               
-
               
Joel Mine
Taung South Shaft
Beatrix VS 5 composite reef
7 741
        
2 638
        
 34.69
      
 0.26
        
 0.77
        
-
-
WEST WITS
TauTona Mine (East Mine)
Ventersdorp Contact reef
 3
             
-
               
-
               
-
               
-
               
Carbon Leader reef
11 831
     
-
               
-
               
-
               
-
               
Savuka Mine (West Mine)
Ventersdorp Contact reef
2 574
        
-
               
-
               
-
               
-
               
Carbon Leader reef
3 973
        
-
               
-
               
-
               
-
               
Mponeng Mine (South Mine)
Ventersdorp Contact reef
20 611
     
1 201
        
 10.10
      
 0.54
        
 1.48
        
Elandsrand Mine
Ventersdorp Contact reef
15 776
     
3 045
        
 16.54
      
 0.86
        
 1.19
        
Deelkraal Mine
Ventersdorp Contact reef
3 357
        
 945
         
 46.90
      
 0.23
        
 0.88
        
(plus footwall bands)
background image
 
SIGNATURES 

 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has 
duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 


 
 
AngloGold Limited


 
Date:  11 JULY 2003 
By:    /s/ C R BULL
 
_ 
 
Name:  C R Bull
Title:     Company Secretary