Wrap Text
Incorporated in the Republic of South Africa
Registration number 1944/017354/06
summary of group results
for the quarter and six months ended 30 June 2001
A good quarter by any measure
Group results for the quarter .
- Headline earnings up 19% to $0.62 and 22% to R5.01 per share.
- Total cash costs down 4% to $185 per ounce.
- Bambanani and Tshepong will remain in AngloGold's portfolio.
- GoldAvenue Exchange goes live for gold trading.. and for the half year
- Gold production down due to Elandsrand and Deelkraal sale.
- Total cash costs down 12% to $189 per ounce.
- Headline earnings down 11% with increased finance costs arising from
acquisition of Geita and Morila.
- A dividend of R7.00 per share declared, giving a 5% annualised yield on a
share price of R288.00 per share.
Prepared in accordance with International Accounting Standards
Quarter Six months
ended ended
June March June June
2001 2001 2001 2000
Rand/Metric
Gold
Produced - kg/oz (000) 53,915 54,377 108,292 110,466
Revenue - R/kg/$/oz
sold 73,578 74,133 73,850 65,096
Total
cash costs - R/kg/$/oz
produced 47,663 48,457 48,061 45,165
Total
production
costs - R/kg/$/oz
produced 57,079 57,537 57,309 51,891
Operating
profit - R/$m 965 894 1,859 1,570
Net
capital
expenditure - R/$m 576 535 1,111 633
Net profit - R/$m 509 337 846 854
Net
earnings
(basic) - cents
per share 475 315 790 799
Headline
earnings - cents
per share 538 409 947 859
Headline earnings
before unrealised
hedging
activities - cents
per share 501 410 911 859
Dividends - cents
per share 700 750
Quarter Six months
ended ended
June March June June
2001 2001 2001 2000
Dollar/Imperial
Gold
Produced - kg/oz (000) 1,733 1,749 3,482 3,551
Revenue - R/kg/$/oz
sold 285 295 290 308
Total
cash costs - R/kg/$/oz
produced 185 193 189 214
Total
production
costs - R/kg/$/oz
produced 221 229 225 245
Operating
profit - R/$m 120 114 234 237
Net
capital
expenditure - R/$m 72 68 140 96
Net profit - R/$m 63 43 106 128
Net
earnings
(basic) - cents
per share 59 40 99 120
Headline
earnings - cents
per share 67 52 119 129
Headline earnings
before unrealised
hedging
activities - cents
per share 62 52 114 129
Dividends - cents
per share 85 102
Abridged Balance sheet
At At At At At At
30 31 30 31 30 30
June March June June March June
2001 2001 2000 2001 2001 2000
Rm Rm Rm $m $m $m
Mining assets
and goodwill 22,541 22,228 19,289 2,802 2,774 2,839
Cash and cash
equivalents 1,202 1,341 2,110 149 167 311
Other net assets 2,262 3,475 1,801 281 434 265
26,005 27,044 23,200 3,232 3,375 3,415
Shareholders'
equity 11,566 11,243 11,299 1,438 1,403 1,663
Borrowings 8,039 9,319 5,318 999 1,163 783
Deferred taxation 4,015 4,159 4,296 499 519 632
Other long-term
liabilities 2,385 2,323 2,287 296 290 337
26,005 27,044 23,200 3,232 3,375 3,415
$ refers to US dollars, unless otherwise stated.
Notes
1.The results for the quarter and six months ended 30 June 2001 are
unaudited.
2. During the quarter, 125,050 ordinary shares were allotted in terms of the
Share Incentive Scheme, thereby increasing the number of ordinary shares in
issue at 30 June 2001 to 107,167,837.
3. An agreement signed with African Rainbow Minerals (Proprietary) Limited
("ARM"),whereby ARM will take over the operations at No. 2 Shaft Vaal River
Operations and acquire all the assets relating to that Shaft, with effect
from 1 July 2001, for the sum of R10 million. Since 1998, ARM have been
operating at No. 2 Shaft Vaal River Operations in terms of a tribute
agreement.
4. Withdrawal of cautionary announcement
In the absence of offers that exceed AngloGold's valuation of certain of its
Free State assets, the board has decided to withdraw the cautionary
announcement as published on 27 November, and renewed on 19 December 2000,
30 January, 14 March, 30 April and 11 June 2001. Accordingly, shareholders
are advised that caution need no longer be exercised when dealing in
AngloGold shares.
5. STRATE
AngloGold will officially be transferred to the new STRATE (Share
TRAnsactions Totally Electronic) system of electronic settlement on the JSE
Securities Exchange South Africa (JSE) and its shares will be dematerialised
with effect from 15 October 2001, with electronic trading and settlement
commencing on 5 November 2001 and 12 November 2001 respectively.
Consequently, the company's share certificates will no longer be good for
delivery in respect of transactions entered into on the JSE on or after
Monday, 5 November 2001. Shareholders are encouraged to dematerialise their
shares.
A letter containing further detailed information relating to STRATE and the
dematerialisation process has been included with the quarterly report posted
to shareholders with registered addresses recorded in the company's South
African register of members, being the shareholders most likely to trade
their shares on the JSE. Copies of the letter are also available from the
offices of the company's share registrars, the investor relations contacts
and website address which appear below.
6. Dividend
The directors have today declared Interim Dividend No. 90 of 700 (2000: 750)
South African cents per ordinary share for the six months ended 30 June
2001. Salient features as follows:
To registered holders of ordinary shares on the South African, United
Kingdom and Australian registers:
2001
Ex-dividend date Monday, 20 August
Record date and last day to register for dividend
and for change of address or dividend instruction Friday, 24 August
Currency conversion date for UK pounds
and Australian dollars Tuesday, 28 August
Dividend cheques posted Thursday, 27 September
Payment date of dividend
(includes Electronic Funds Transfers) Friday, 28 September
To holders of American Depositary Shares
(Each American Depositary Share (ADS)
represents one-half of an ordinary share)
Ex-dividend on New York Stock Exchange Wednesday, 22 August
Record date Friday, 24 August
Approximate date for currency conversion
into US dollars Friday, 28 September
Approximate payment date of dividend Tuesday, 9 October
For illustrative purposes, the dividend payable on an ADS was equivalent to
42.63 US cents at the rate of exchange ruling on Monday, 30 July 2001 (2000:
51.06 US cents per ADS).
7. A detailed report (including the STRATE information) appears on the
Internet and is obtainable in printed format from the investor relations
contacts which appear below.
By order of the Board
R M Godsell R P Edey
Chairman and Chief Executive Officer Deputy Chairman
31 July 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
Sharenet Sites 
