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AngloGold Limited
Incorporated in the Republic of South Africa
Registration number 1944/017354/06
Share Code: ANG
ISIN Code: ZAE000014601
summary of group results for the quarter and nine months ended 30 September
2001
another good quarter - the third in succession
Group results for the quarter .
* Headline earnings before unrealised hedging activities up 15% to $76
million ($0.71 per share or $0.36 per ADR), or 19% to R637 million (595
cents per share).
* Total cash costs down 5% to $176 per ounce.
* Total production costs down 5% to $211 per ounce.
* Return on capital of 13.6%
* Sale of the Free State assets is being finalised.
* Offer documents filed in Normandy bid, with approval for the transaction
received from the South African Reserve Bank.
* Continued safety improvements in all regions.
Prepared in accordance with International Accounting Standards
Quarter Nine months Quarter Nine months
ended ended ended ended
Sept Jun Sept Sept Sept Jun Sept Sept
2001 2001 2001 2000 2001 2001 2001 2000
Rand/Metric Dollar/Imperial
Gold
Produced - kg/oz
(000) 55,440 53,915 163,732 167,389 1,782 1,733 5,264 5,382
Revenue -
R/kg/$/oz sold 77,635 73,578 75,071 65,901 288 285 289 305
Total
cash costs - R/kg/$/oz
produced 47,687 47,663 47,887 45,763 176 185 184 212
Total
production
costs - R/kg/$/oz
produced 57,046 57,079 57,164 52,601 211 221 220 244
Operating
profit - Rm/$m 1,136 966 2,995 2,384 135 120 369 352
Net capital
expenditure - Rm/$m 629 576 1,740 1,071 75 71 215 158
Net profit - Rm/$m 439 509 1,285 1,247 53 63 159 184
Net
earnings -
cents per share 410 475 1,200 1,166 50 59 149 171
Headline
earnings - cents
per share 459 538 1,405 1,256 55 67 174 185
Headline
earnings
before
unrealised
hedging
activities -
cents per share 595 501 1,504 1,256 71 62 185 185
Dividends -
cents per share 700 750 85 110
abridged balance sheet
At At At At At At
30 Sept 30 Jun 30 Sept 30 Sept 30 Jun 30 Sept
2001 2001 2000 2001 2001 2000
Rm Rm Rm $m $m $m
Mining assets
and goodwill 23,981 22,541 20,850 2,656 2,802 2,882
Cash and cash
equivalents 1,537 1,202 1,154 170 149 160
Other net assets 91 2,263 1,818 9 278 250
25,609 26,006 23,822 2,835 3,229 3,292
Shareholders' equity 10,649 11,567 10,829 1,178 1,433 1,497
Borrowings 9,076 8,039 6,317 1,005 1,000 873
Deferred taxation 3,431 4,015 4,350 380 499 601
Other long-term
liabilities 2,453 2,385 2,326 272 297 321
25,609 26,006 23,822 2,835 3,229 3,292
$ refers to US dollars, unless otherwise stated.
Notes
1. The results included herein for the quarter and nine months ended 30
September 2001, which are unaudited, have been prepared using the accounting
policies which are in accordance with the standards issued by the
International Accounting Standards Board and the South African Institute of
Chartered Accountants. Where appropriate, comparative figures have been
restated.
2. During the quarter, 13,400 ordinary shares were allotted in terms of the
Share Incentive Scheme, thereby increasing the number of ordinary shares in
issue at 30 September 2001 to 107,181,237.
3. Orders placed and outstanding on capital contracts as at 30 September
2001 totalled R943 million (30 June 2001: R1,112 million), equivalent to
$105 million (30 June 2001: $138 million) at the rate of exchange ruling on
that date.
4. On 5 September 2001, AngloGold announced that it was to make an offer to
acquire the entire issued share capital of Normandy Mining Limited,
Australia's largest and leading gold company. The offer is to be settled in
AngloGold shares in the ratio of 2.15 AngloGold shares for every 100
Normandy shares. The acquisition is subject to the fulfilment of certain
conditions, including approval by AngloGold shareholders in general meeting.
For this purpose, a notice calling a general meeting of members, to be held
at 11:00 on Monday, 19 November 2001 at The Johannesburg Country Club,
Napier Road, Auckland Park, Johannesburg, South Africa is contained in the
circular to members which was posted on Friday, 26 October 2001.
5. On 11 October 2001, Anglogold announced its intention to implement a 10-
for-1 split of the Anglogold Chess Depositary Interests (CDIs), which trade
on the Australian Stock Exchange.
6. On 10 October 2001, AngloGold published a cautionary announcement, in
which shareholders were advised that an offer had been received for the
purchase of its assets in the Free State. Subsequent offers were received
and the sale of the assets is being finalised.
7. STRATE
Relevant information concerning the conversion of certificated ordinary
shares of AngloGold into uncertificated shares (dematerialisation) in terms
of the STRATE system was contained in a letter dated 30 July 2001 posted to
shareholders on the South African register, together with the June 2001
quarterly report. The dematerialisation process commenced on 15 October
2001. Trading for electronic settlement begins on 5 November 2001 with the
first electronic settlement taking place on 12 November 2001.
8. Dividend
Interim dividend No. 90 of 700 South African cents per ordinary share was
paid to registered shareholders on 28 September 2001. A dividend was paid
to holders of American Depositary Receipts (ADRs) on 9 October 2001 at a
rate of 38.21 US cents per American Depositary Share (ADS). Each ADS
represents one-half of an ordinary share.
9. This report contains a summary of the results of AngloGold's operations.
A detailed report appears on the Internet and is obtainable in printed
format from the investor relations contacts, whose details, along with the
website address, appear at the end of this report.
By order of the Board
R M Godsell R P Edey
Chairman and Chief Executive Officer Deputy Chairman
30 October 2001
Media/Investor Relations Contact Share Registrars
Steve Lenahan Computershare Services
Limited
11 Diagonal Street 2nd Floor, Edura
Johannesburg 2001 41 Fox Street
(PO Box 62117, Marshalltown 2107) Johannesburg 2001
Telephone: +27 11 637 6248 (PO Box 61051, Marshalltown
2107)
Fax: +27 11 637 6107 Telephone: +27 11 370 7700
E-mail: slenahan@anglogold.com Fax: +27 11 836 0792
General e-mail enquiries should be directed to: investors@anglogold.com
Internet address: http://www.anglogold.com
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