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Harmony Gold Mining Limited - Total Operations

Release Date: 05/05/2006 14:45:47      Code(s): HAR
Harmony Gold Mining Limited - Total Operations                                  
HARMONY GOLD MINING LIMITED                                                     
Registration number 1950/038232/06                                              
Incorporated in the Republic of South Africa                                    
Share Code: HAR                                                                 
Issuer Code: HAPS                                                               
ISIN: ZAE000015228                                                              
Total Operations - YEAR TO DATE Financial Results (Rand/metric) (unaudited)     
                                              Year to date     Year to date     
                                                  31 March         31 March     
                                                      2006             2005     
(restated)     
Ore milled                 t"000                    13 923           17 943     
Gold produced                 kg                    56 999           71 552     
Gold price received         R/kg                   101 282           83 450     
Cash operating costs        R/kg                    87 019           73 751     
                                                 R million        R million     
Revenue                                              5 773            5 971     
Cash operating costs                  (1)            4 960            5 277     
Cash operating profit                                  813              694     
Amortisation and depreciation                                                   
of mining properties, mine                                                      
development costs and mine                                                      
plant facilities                      (1)            (763)            (799)     
Corporate, administration                                                       
and other expenditure                                (134)            (125)     
Provision for rehabilitation costs                     (6)             (42)     
Operating loss                                        (90)            (272)     
Amortisation and depreciation                                                   
other than mining properties,                                                   
mine development costs and                                                      
mine plant facilities                                 (38)             (25)     
Employment termination                                                          
and restructuring costs                                 86            (322)     
Care and maintenance costs                           (145)            (112)     
Share based compensation                              (93)             (49)     
Exploration expenditure                               (71)             (57)     
Profit on sale of investment                                                    
in Gold Fields                                         306                -     
Mark-to-market of                                                               
listed investments                                      65                -     
Interest paid                                        (290)            (300)     
Interest received                                      171               87     
Other expenses - net                                   (9)             (30)     
(Loss)/gain on financial instruments                 (558)               23     
(Loss)/gain on foreign exchange                        (2)               34     
Loss on sale of listed investments                                              
and subsidiaries                                       (1)                -     
Profit on Australian-listed                                                     
investments                                              -                4     
Loss on sale of listed investments                                              
and subsidiaries                                         -            (111)     
Impairment of fixed assets                               -          (1 513)     
Loss before tax                                      (669)          (2 643)     
Current tax - (expense)/benefit                        (5)               34     
Deferred tax - benefit                (1)              190              474     
Net loss                                             (484)          (2 135)     
(1) The change in accounting policy                                             
on capitalisation of mine                                                       
development costs had the following                                             
effect:                                                                         
- Cash operating costs - decrease                      455              453     
- Amortisation and depreciation of                                              
mining properties, mine                                                         
development costs and mine plant                                                
facilities                                           (234)            (172)     
- Deferred tax - expense                              (46)             (53)     
- Net effect of change in accounting                                            
policy                                                 175              228     
The effects of the change in policy are in the process of being audited. The    
company does not expect any material change to arise from the audit.            
Total Operations - YEAR TO DATE Financial Results (Rand/metric) (unaudited)     
                                              Year to date     Year to date     
                                                  31 March         31 March     
                                                      2006             2005     
(restated)     
Loss per share - cents*                                                         
- Basic loss                                         (123)            (605)     
- Headline loss                                      (211)            (255)     
- Fully diluted loss** ***                           (123)            (605)     
Dividends per share - (cents)                                                   
- Interim                                                -                -     
- Proposed final                                         -                -     
* Calculated on weighted average number of shares in issue for 9 months to      
  March 2006: 392.9 million (March 2005: 352.7 million).                        
** Calculated on weighted average number of diluted shares in issue for         
  9 months to March 2006: 398.1 million (March 2005: 352.7 million).            
*** The effect of the share options is anti-dilutive.                           
Reconciliation of headline loss:                                                
Net loss                                             (484)          (2 135)     
Adjustments:                                                                    
- Profit on sale of assets                            (40)             (52)     
- Profit on Australian listed investments                -              (4)     
- Loss on sale of ARM ltd - net of tax                   -              111     
- Loss on disposal of Sangold investment                 1                -     
- Profit on disposal of investment in Gold                                      
Fields                                               (306)                -     
- Impairment of fixed assets - net of tax                -            1 182     
Headline loss                                        (829)            (898)     
Date: 05/05/2006 02:45:53 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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