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Harmony - Review for quarter and year ended 30 June 2006

Release Date: 07/08/2006 08:00:03      Code(s): HAR
Harmony - Review for quarter and year ended 30 June 2006                        
Harmony Gold Mining Company Limited                                             
Registration number 1950/038232/06                                              
Incorporated in the Republic of South Africa                                    
ISIN: ZAE000015228                                                              
Trading Symbols                                                                 
JSE Limited                              HAR                                    
New York Stock Exchange, Inc.            HMY                                    
London Stock Exchange plc                HRM                                    
Euronext Paris                           HG                                     
Euronext Brussels                        HMY                                    
Berlin Stock Exchange                    HAM1                                   
NASDAQ                                   HMY                                    
Issuer code                              HAPS                                   
REVIEW FOR QUARTER AND YEAR ENDED 30 JUNE 2006                                  
QUARTERLY HIGHLIGHTS                                                            
- Higher gold price clearly demonstrates the gearing that Harmony has           
- Cash operating profit at R645 million (+ 111%)                                
- Tonnes milled improve by 11%                                                  
- Costs remained at similar levels, resulting in a positive impact on           
  R/t unit cost                                                                 
- Successful implementation of CONOPS at Tshepong                               
- Australian hedge book reduced by 75 000 oz                                    
- Upgrade of Golpu/Wafi resource by more than 20%                               
FINANCIAL SUMMARY FOR THE JUNE QUARTER                                          
                                                  June 2006      March 2006     
Gold produced           kg                          17 243          17 464      
oz                         554 373         561 477      
Cash costs              R/kg                        93 968          92 914      
                        $/oz                           452             470      
Cash operating profit   Rand                   645 million     306 million      
US$                    100 million      50 million      
Cash earnings           SA cents per share             163              78      
                        US cents per share              25              13      
Basic loss              SA cents per share            (11)            (46)      
US cents per share             (2)             (8)      
Headline loss           SA cents per share            (52)            (50)      
                        US cents per share             (8)             (8)      
Fully diluted loss      SA cents per share            (11)            (46)      
US cents per share             (2)             (8)      
CHIEF EXECUTIVE"S REVIEW  JUNE 2006                                             
"Harmony once again demonstrated that we offer to our shareholders significant  
upside potential when the gold price rises. We have stepped up our development  
rates to give us more mining flexibility which in turn will allow us to take    
advantage of the higher gold price. This is a process that will continue for    
the next 18 months, but we expect to start reaping the benefits by the end of   
the fiscal year."                                                               
Analysis of earnings per share (SA cents)                                       
                                            Quarter ended     Quarter ended     
EARNINGS PER SHARE (SA Cents)                   June 2006        March 2006     
Cash earnings                                         163                78     
Basic loss                                           (11)              (46)     
Headline loss                                        (52)              (50)     
Fully diluted loss                                   (11)              (46)     
The net loss for the current quarter was R41 million (basic loss per share of   
11 cents) compared to the net loss of R178 million (basic loss per share of 46  
cents) for the previous quarter.                                                
RECONCILIATION BETWEEN BASIC AND HEADLINE LOSS                                  
                                                              Quarter ended     
HEADLINE LOSS IN CENTS PER SHARE                                  June 2006     
Basic loss                                                             (11)     
Reversal of impairments                                                (38)     
Profit on sale of mining assets                                         (3)     
Headline loss                                                          (52)     
Our cash earnings for the year to date was 371 cents per share.                 
TOTAL OPERATIONSQUARTERLY FINANCIAL RESULTS (Rand/metric) (unaudited)           
                          Quarter ended     Quarter ended     Quarter ended     
30 June          31 March           30 June     
                                   2006              2006              2005     
                                                                 (restated)     
Ore milled             t"000     4 957             4 466             5 198      
Gold produced         kg        17 243            17 464            19 886      
Gold price received   R/kg     131 358           110 399            89 711      
Cash operating costs  R/kg      93 968            92 914            80 207      
                              R million         R million         R million     
Revenue                           2 265             1 928             1 784     
Cash operating costs  (1)         1 620             1 622             1 595     
Cash operating profit               645               306               189     
Amortisation and                                                                
depreciation of mining                                                          
properties, mine                                                                
development costs and                                                           
mine plant facilities (1)         (267)             (264)             (238)     
Corporate, administration                                                       
and other expenditure              (53)               (6)              (81)     
Reversal/(Provision) for                                                        
rehabilitation costs                 18               (1)               (6)     
Operating profit/(loss)             343                35             (136)     
Amortisation and                                                                
depreciation other than                                                         
mining properties, mine                                                         
development                                                                     
costs and mine plant                                                            
facilities                         (19)              (17)               (7)     
Employment termination                                                          
and restructuring costs                                             (205)       
Care and maintenance costs         (37)              (30)              (12)     
Share based compensation           (10)              (30)              (27)     
Exploration expenditure            (35)              (21)              (16)     
Loss on sale of                                                                 
investment in Goldfields                                            (372)       
Mark-to-market of listed                                                        
investments                          22                22                13     
Interest paid                     (180)              (96)             (134)     
Interest received                    48                71                45     
Other income - net                   10                 5                 9     
Gain/(Loss) on financial                                                        
instruments                          35             (260)               (7)     
Loss on foreign exchange                             (1)              (18)      
Loss on sale of listed                                                          
investments and                                                                 
subsidiaries                                                         (73)       
Diminution in carrying                                                          
value of ARM investment                                             (337)       
Loss from associates              (105)                                         
Provision for                                                                   
post-retirement benefits            (7)                               (57)      
Reversal of impairment of                                                       
fixed assets                        216                                         
Profit/(Loss) before tax            281             (322)           (1 334)     
Current tax  expense               (5)               (1)             (110)      
Deferred tax                                                                    
(expense)/benefit     (1)         (317)               145               337     
Net loss                           (41)             (178)           (1 107)     
TOTAL OPERATIONSQUARTERLY FINANCIAL RESULTS (Rand/metric) (unaudited)           
                          Quarter ended     Quarter ended     Quarter ended     
                                30 June          31 March           30 June     
2006              2006              2005     
                                                                 (restated)     
(1) The change in                                                               
accounting policy on                                                            
capitalisation of mine                                                          
development costs                                                               
had the following effect:                                                       
 Cash operating costs                                                           
decrease                       200               160               139       
 Amortisation and                                                               
depreciation of mining                                                          
properties, mine                                                                
development costs and                                                           
mine plant facilities              (99)              (82)              (68)     
 Deferred tax  expense           (23)              (18)              (15)       
 Net effect of change                                                           
in accounting policy                 78                60                56     
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.                                                                 
Loss per share  cents *                                                         
Basic loss                       (11)              (46)             (282)      
 Headline loss                    (52)              (50)              (93)      
 Fully diluted loss ** ***        (11)              (46)             (282)      
Dividends per share  (cents)                                                    
Interim                                                                        
 Proposed final                                                                 
* Calculated on weighted average number of shares in issue at                   
quarter end June 2006: 394.9 million (March 2006: 393.4 million)                
(June 2005: 392.2 million).                                                     
** Calculated on weighted average number of diluted shares in issue             
at quarter end June 2006: 401.1 million (March 2006: 400.5 million)             
(June 2005: 392.2 million).                                                     
*** The effect of the share options is anti-dilutive.                           
Reconciliation of headline loss:                                                
Net loss                           (41)             (178)           (1 107)     
Adjustments:                                                                    
Profit on sale of assets         (12)              (13)              (26)      
 Mark-to-market of                                                              
listed investments                                                      4       
 Loss on sale of ARM Ltd                                                        
net of tax                                                          103        
 Loss on disposal of                                                            
investment in Goldfields                                              372       
 Loss on disposal of                                                            
subsidiaries                                                            1       
 Impairment of fixed                                                            
assets  net of tax               (151)                               (19)       
 Profit on disposal of                                                          
investment in Bendigo NL                                             (30)       
 Diminution in carrying                                                         
value of listed                                                                 
investments                                                           337       
Headline loss                     (204)             (191)             (365)     
TOTAL OPERATIONS  ANNUAL FINANCIAL RESULTS (Rand/metric)(Reviewed)              
                                                Year ended       Year ended     
                                              30 June 2006     30 June 2005     
(restated)     
Ore milled               t"000                     18 880           23 283      
Gold produced            kg                        74 242           92 230      
Gold price received      R/kg                     108 268           84 799      
Cash operating costs     R/kg                      88 629           75 388      
                                                 R million        R million     
Revenue                                              8 038            7 821     
Cash operating costs                    (1)          6 580            6 953     
Cash operating profit                                1 458              868     
Amortisation and depreciation of mining                                         
properties, mine development costs and                                          
mine plant facilities                   (1)        (1 032)          (1 010)     
Corporate, administration and other                                             
expenditure                                          (187)            (206)     
Reversal/(Provision) for rehabilitation costs           13             (48)     
Operating profit/(loss)                                252            (396)     
Amortisation and depreciation other than                                        
mining properties, mine development                                             
costs and mine plant facilities                       (57)             (32)     
Employment termination and restructuring costs          78            (562)     
Care and maintenance costs                           (174)             (76)     
Share based compensation                             (103)             (67)     
Exploration expenditure                              (106)             (73)     
Profit/(Loss) on sale of investment in                                          
Goldfields                                             306            (372)     
Mark-to-market of listed investments                    87               17     
Interest paid                                        (470)            (434)     
Interest received                                      224              132     
Other expenses  net                                   (6)             (25)      
(Loss)/Gain on financial instruments                 (523)               16     
Gain on foreign exchange                                                20      
Loss on sale of listed investments and                                          
subsidiaries                                                         (184)      
Loss from associates                                 (105)                      
Diminution in carrying value of ARM investment                       (337)      
Provision for post-retirement benefits                 (7)             (57)     
Reversal of impairment/(impairment) of fixed                                    
assets                                                 216          (1 513)     
Loss before tax                                      (388)          (3 943)     
Current tax  expense                                 (10)             (76)      
Deferred tax  (expense)/benefit        (1)          (128)              805      
Net loss                                             (526)          (3 214)     
TOTAL OPERATIONS  ANNUAL FINANCIAL RESULTS (Rand/metric)(Reviewed)              
                                                Year ended       Year ended     
30 June 2006     30 June 2005     
                                                                 (restated)     
(1) The change in accounting policy on                                          
capitalisation of mine development                                              
costs had the following effect:                                                 
 Cash operating costs  decrease                      659              590       
 Amortisation and depreciation of mining                                        
properties, mine development costs and                                          
mine plant facilities                                (314)            (213)     
 Deferred tax  expense                              (74)             (74)       
 Net effect of change in accounting policy            271              303      
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.                                                                          
Loss per share  cents *                                                         
Basic loss                                         (133)            (890)      
 Headline loss                                      (263)            (342)      
 Fully diluted loss ** ***                          (133)            (890)      
Dividends per share  (cents)                                                    
Interim                                                                        
 Proposed final                                                                 
* Calculated on weighted average number                                         
of shares in issue for 12 months to June 2006: 392.7 million                    
(June 2005: 361.8 million).                                                     
** Calculated on weighted average number of diluted shares in issue for         
12 months to June 2006: 398.6 million (June 2005: 361.8 million).               
*** The effect of the share options is anti-dilutive.                           
Reconciliation of headline loss:                                                
Net loss                                             (526)          (3 214)     
Adjustments:                                                                    
- Profit on sale of assets                            (52)             (79)     
- Profit on Australian listed investments                                       
- Loss on sale of ARM ltd  net of tax                                 214       
- Loss on disposal of Sangold investment                 1                      
- Profit/(Loss) on disposal of investment in                                    
Goldfields                                           (306)              372     
- Loss on disposal of subsidiaries                                       1      
- Impairment of fixed assets  net of tax            (151)            1 163      
- Impairment of Bendigo                                               (30)      
- Diminution in carrying value of listed                                        
investments                                                            337      
Headline loss                                      (1 034)          (1 236)     
BALANCE SHEET AT 30 JUNE 2006 (Rand)(Reviewed)                                  
At 30 June     At 31 March      At 30 June     
                                       2006            2006            2005     
                                  R million       R million       R million     
                                                                 (restated)     
ASSETS                                                                          
Non-current assets                                                              
Property, plant and equipment        23 318          22 513          22 511     
Intangible assets                     2 270           2 268           2 268     
Available for sale financial                                                    
assets                                2 333           2 259           4 154     
Investments in associates             1 908           2 012                     
                                     29 829          29 052          28 933     
Current assets                                                                  
Inventories                             666             598             583     
Trade and other receivables             750             775             632     
Income and mining taxes                  27              28              27     
Cash and cash equivalents               906           1 781           1 830     
                                      2 349           3 182           3 072     
Total assets                         32 178          32 234          32 005     
EQUITY AND LIABILITIES                                                          
Share capital and reserves                                                      
Share capital                        25 489          25 346          25 289     
Other reserves                        (271)           (614)           (586)     
Accumulated loss                    (2 015)         (1 974)         (1 484)     
23 203          22 758          23 219     
Non-current liabilities                                                         
Borrowings                            2 591           2 549           2 422     
Net deferred taxation                                                           
liabilities                           2 299           1 954           2 183     
Net deferred financial                                                          
liabilities                             631             679             386     
Provisions for other                                                            
liabilities and charges                 983             943             940     
                                      6 504           6 125           5 931     
Current liabilities                                                             
Trade and other liabilities           1 118           1 036           1 138     
Accrued liabilities                     340             316             376     
Borrowings                            1 006           1 981           1 333     
Shareholders for dividends                7              18               8     
                                      2 471           3 351           2 855     
Total equity and liabilities         32 178          32 234          32 005     
Number of ordinary shares in                                                    
issue                           396 934 450     394 369 190     393 341 194     
Net asset value per share                                                       
(cents)                               5 846           5 771           5 903     
The balance sheet at 30 June 2005 is in accordance with the audited balance     
sheet except for the effects of the adoption of IFRS 2, Share-based payments,   
and the change in the accounting policy relating to the capitalisation of       
development costs.                                                              
CONDENSED STATEMENT OF CHANGES IN EQUITY                                        
FOR THE YEAR ENDED 30 JUNE 2006                                                 
                                  Share      Other    Retained                  
capital   reserves    earnings        Total     
(Reviewed)                    R million  R million   R million    R million     
Balance as 1 July 2005           25 289       (586)     (1 484)      23 219     
Issue of share capital              200                                 200     
Currency translation                                                            
adjustment and other                            212                     212     
Adoption of IFRS 2,                                                             
Share-based payments                            103                     103     
Net loss                                                  (526)       (526)     
Dividends paid                                              (5)         (5)     
Balance at 30 June 2006          25 489       (271)     (2 015)      23 203     
(Restated)                                                                      
Balance as 1 July 2004           20 889     (1 168)       1 826      21 547     
Issue of share capital            4 400                               4 400     
Currency translation                                                            
adjustment and other                            515                     515     
Adoption of IFRS 2,                                                             
Share-based payments                             67                      67     
Net loss                                                (3 214)     (3 214)     
Dividends paid                                             (96)        (96)     
Balance at 30 June 2005          25 289       (586)     (1 484)      23 219     
SUMMARISED CASH FLOW STATEMENT                                                  
FOR THE YEAR ENDED 30 JUNE 2006                                                 
                                                       Year            Year     
ended           ended     
                                                    30 June         30 June     
                                                       2006            2005     
                                                  R million       R million     
(Reviewed)      (Restated)     
Cash flow from operating activities                                             
Cash generated/(utilised) by operations                 378           (569)     
Interest and dividends received                         224             149     
Interest paid                                         (201)           (261)     
Income and mining taxes paid                           (12)            (55)     
Cash generated/(utilised) by                                                    
operating activities                                    389           (736)     
Cash flow from investing activities                                             
Net proceeds on disposal of listed                                              
investments                                           2 461           2 546     
Acquisition of investment in associate              (2 012)                     
Net additions to property, plant                                                
and equipment                                       (1 635)         (1 264)     
Other investing activities                             (44)           (100)     
Cash (utilised)/generated by                                                    
investing activities                                (1 230)           1 182     
Cash flow from financing activities                                             
Long-term loans (repaid)/raised                       (393)             191     
Ordinary shares issued  net of expenses                183            (60)      
Dividends paid                                          (7)            (97)     
Cash (utilised)/generated by                                                    
financing activities                                  (217)              34     
Foreign currency translation adjustments                134            (64)     
Net (decrease)/increase in cash                                                 
and equivalents                                       (924)             416     
Cash and equivalents  1 July                         1 830           1 414      
Cash and equivalents  30 June                          906           1 830      
SUMMARISED CASH FLOW STATEMENT                                                  
FOR THE THREE MONTHS ENDED 30 JUNE 2006 (Unaudited)                             
                                                      Three          Three      
                                                     months          months     
ended           ended     
                                                    30 June        31 March     
                                                       2006            2006     
                                                  R million       R million     
Cash flow from operating activities                                             
Cash generated by operations                            467             229     
Interest and dividends received                          48              76     
Interest paid                                          (59)            (48)     
Income and mining taxes paid                            (4)             (5)     
Cash generated by operating activities                  452             252     
Cash flow from investing activities                                             
Acquisition of investment in associate                             (2 012)      
Net additions to property, plant                                                
and equipment                                         (471)           (378)     
Other investing activities                             (26)            (21)     
Cash utilised by investing activities                 (497)         (2 411)     
Cash flow from financing activities                                             
Long-term loans (repaid)/raised                     (1 008)             910     
Ordinary shares issued  net of expenses                128              10      
Dividends paid                                          (7)                     
Cash (utilised)/generated by financing                                          
activities                                            (887)             920     
Foreign currency translation adjustments                 57             106     
Net decrease in cash and equivalents                  (875)         (1 133)     
Cash and equivalents  beginning                                                 
of quarter                                            1 781           2 914     
Cash and equivalents  end of quarter                   906           1 781      
NOTES TO THE RESULTS FOR THE YEAR ENDED 30 JUNE 2006                            
1. Basis of accounting                                                          
The reviewed quarter and year-end results have been prepared using accounting   
policies that comply with International Financial Reporting Standards (IFRS).   
These consolidated quarterly statements are prepared in accordance with         
international accounting standards IAS 34, Interim Financial Reporting. The     
accounting policies are consistent with those applied in the previous financial 
year, except for the adoption of the revised international accounting           
standards (IAS) forthcoming from the IAS improvements project and the           
changes which are described in Notes 2 and 3.                                   
2. New accounting policies adopted                                              
(a) Share-based Payments (IFRS 2)                                               
On 1 July 2005, the Company adopted the requirements of IFRS 2, Share-based     
Payments. In accordance with the transitional provisions, IFRS 2 has been       
applied to all grants of equity-settled payments after 7 November 2002 that     
were unvested as at 1 January 2005. The Company issues equity-settled           
instruments to certain qualifying employees under an Employee Share Option      
Scheme to purchase shares in the Company"s authorised but unissued ordinary     
shares. Equity share-based payments are measured at the fair value of the       
equity instruments at the date of the grant. The total fair value of the        
options granted is recorded as deferred share-based compensation as a separate  
component of shareholders" equity with a corresponding amount recorded as share 
premium. The deferred share-based compensation is expensed over the vesting     
period, based on the Company"s estimate of the shares that are expected to      
eventually vest. The Company used the binominal option pricing model in         
determining the fair value of the options granted.                              
The impact of this adjustment on the net profit/(loss) is an expense of R103    
million for the June 2006 year to date (June 2005 year to date: R67 million)    
(June 2006 quarter: R10 million) (March 2006 quarter: R30 million) (June 2005   
quarter: R27 million).                                                          
(b)   Determining whether an arrangement contains a lease (IFRIC 4)             
On 1 July 2005, the Company applied the requirements of IFRIC 4, Determining    
whether an arrangement contains a lease. The objective of the interpretation is 
to determine whether an arrangement contains a lease that falls within the      
scope of IAS 17, Leases. The lease is then accounted in accordance with IAS 17. 
The application of the interpretation had no impact on the results of the       
quarter or any prior reporting period.                                          
3. Change in accounting policy                                                  
(a)   Capitalisation of mine development costs                                  
Previously mine development costs were capitalised when the reef horizon was    
intersected. Expenditure for all development that will give access to proven    
and probable ore reserves will now be capitalised. Capitalised costs are        
amortised over the estimated life of the proven and probable reserves to which  
the costs give access.                                                          
The impact of this adjustment on the net profit/(loss) is as follows:           
A decrease in the cash operating costs of R659 million for the June 2006 year  
to date (June 2005 year to date: R590 million) (June 2006 quarter: R200         
million) (March 2006 quarter: R160 million) (June 2005 quarter: R139 million).  
 Additional amortisation charges of R314 million for the June 2006 year to      
date (June 2005 year to date: R213 million) (June 2006 quarter: R99 million)    
(March 2006 quarter: R82 million) (June 2005 quarter: R68 million).             
 Taxation effect of the capitalised development costs and additional            
amortisation charges of R74 million for June 2006 year to date (June 2005       
year to date: R74 million) (June 2006 quarter: R23 million) (March 2006 quarter:
R18 million) (June 2005 quarter: R15 million).                                  
4. Commodity Contracts:                                                         
The Harmony Group"s outstanding commodity contracts against future production,  
by type at 30 June 2006 are indicated below. The total net delta of the hedge   
book at 30 June 2006 was 356 849 oz (11,099 kg).                                
Year                            30 June     30 June     30 June                 
                                   2007        2008        2009       Total     
Australian Dollar Gold:                                                         
Forward contracts                                                               
                   Kilograms      4,572       3,110       3,110      10,793     
                   Ounces       147,000     100,000     100,000     347,000     
AUD per oz       515         518         518         516     
Call options sold                                                               
                   Kilograms        311                               311       
                   Ounces        10,000                            10,000       
AUD per oz       562                               562       
Total commodity contracts                                                       
                   Kilograms      4,883       3,110       3,110      11,104     
                   Ounces       157,000     100,000     100,000     357,000     
Total net gold **                                                               
                   Delta (kg)     4,885       3,111       3,104      11,099     
                   Delta (oz)   157,056     100,006      99,788     356,849     
** The Delta of the hedge position indicated above, is the equivalent gold      
position that would have the same marked-to-market sensitivity for a small      
change in the gold price. This is calculated using the Black - Scholes option   
formula with the ruling market prices, interest rates and volatilities at       
30 June 2006.                                                                   
These contracts are classified as speculative and the marked-to-market movement 
is reflected in the income statement.                                           
The mark-to-market of these contracts was a negative R631 million (negative     
USD88 million) at 30 June 2006 (at 31 March 2006: negative R654 million or      
negative USD106 million). The values at 30 June 2006 were based on a gold price 
of USD600 (AUD808) per ounce, exchange rates of USD1/R7.17 and AUD1/USD0.74 and 
prevailing market interest rates and volatilities at that date. These           
valuations were provided by independent risk and treasury management experts.   
At 25 July 2006, the marked-to-market value of the hedge book was a negative    
R654 million (negative USD93 million), based on a gold price of USD622 (AUD823) 
per ounce, exchange rates of USD1/R7.03 and AUD1/USD0.76 and prevailing market  
interest rates and volatilities at that time. Harmony closed out 10,000oz call  
options subsequent to 30 June 2006 at a cost of R14 million (USD2 million).     
These marked-to-market valuations are not predictive of the future value of the 
hedge position, nor of the future impact on the revenue of the company. The     
valuation represents the cost of buying all hedge contracts at the time of the  
valuation, at market prices and rates available at the time.                    
Harmony closed out 75,000oz forward contracts during the quarter ending 30 June 
2006 at a cost of R143 million (USD23 million). During the quarter ended 31     
March 2006, Harmony closed out 25,000oz call option contracts at a cost of      
R63 million (USD10 million).                                                    
Interest Rate Swaps:                                                            
The Group had interest rate swap agreements to convert R600 million of its      
R1,2 billion senior unsecured fixed rate bond (HAR1) to variable rate debt. The 
interest rate swap ran over the term of the bond and interest was received at a 
fixed rate of 13% and the company payed floating rate based on JIBAR plus a     
spread ranging from 1.8% to 2.2%. The bond as well as the interest rate swaps   
matured on 14 June 2006 and was settled in full.                                
These interest rate swaps were designated as fair value hedges. The             
marked-to-market value of the transactions was a RNIL at 30 June 2006 (at       
31 March 2006 positive R25 million or USD4 million, based on the prevailing     
interest rates and volatilities at the time).                                   
5. Audit review                                                                 
The condensed year-end results have been reviewed in terms of the Listings      
Requirements of the JSE Limited by the company"s auditors,                      
PricewaterhouseCoopers Inc. This unqualified review opinion is available        
for inspection at the company"s registered office. The results for quarter      
3 and 4 of the 2006 financial year presented in this document has not           
been reviewed.                                                                  
Z B Swanepoel                         N V Qangule                               
Chief Executive                       Financial Director                        
Virginia                                                                        
4 August 2006                                                                   
CONTACT DETAILS                                                                 
Harmony Gold Mining Company Limited                                             
Corporate Office                                                                
Suite No. 1                                                                     
Private Bag X1                                                                  
Melrose Arch, 2076                                                              
South Africa                                                                    
First Floor                                                                     
4 The High Street                                                               
Melrose Arch, 2196                                                              
Johannesburg                                                                    
South Africa                                                                    
Telephone: +27 11 684 0140                                                      
Fax:         +27 11 684 0188                                                    
Website: http://www.harmony.co.za                                               
Directors                                                                       
P T Motsepe (Chairman)*                                                         
Z B Swanepoel (Chief Executive)                                                 
F Abbott*, J A Chissano**,                                                      
Dr D S Lushaba*, F T de Buck*, M Motloba*,                                      
N V Qangule, C M L Savage*                                                      
(*non-executive) (**Mozambique)                                                 
Investor Relations                                                              
Philip Kotze                                                                    
Executive: Investor Relations                                                   
Telephone: +27 11 684 0147                                                      
Fax:           +27 11 684 0188                                                  
Cell:          +27 (0) 83 453 0544                                              
E-mail:        philip.kotze@harmony.co.za                                       
Lizelle du Toit                                                                 
Investor Relations Officer                                                      
Telephone: +27 11 684 0149                                                      
Fax:            +27 11 684 0188                                                 
Cell:           +27 (0) 82 465 1244                                             
E-mail:         lizelle.dutoit@harmony.co.za                                    
Marian van der Walt                                                             
Company Secretary                                                               
Telephone: +27 11 411 2037                                                      
Fax:         +27 11 411 2398                                                    
Cell:        +27 (0) 82 888 1242                                                
E-mail:      marian.vanderwalt@harmony.co.za                                    
South African Share Transfer Secretaries                                        
Link Market Services South Africa (Proprietary) Limited                         
(Registration number 2000/007239/07)                                            
5th Floor, 11 Diagonal Street                                                   
Johannesburg, 2001                                                              
PO Box 4844                                                                     
Johannesburg, 2000                                                              
Telephone: +27 11 832 2652                                                      
Fax:       +27 11 834 4398                                                      
United Kingdom Registrars                                                       
Capita Registrars                                                               
The Registry                                                                    
34 Beckenham Road                                                               
Beckenham                                                                       
Kent BR3 4TU                                                                    
Telephone: +44 870 162 3100                                                     
Fax:       +44 208 639 2342                                                     
ADR Depositary                                                                  
The Bank of New York                                                            
101 Barclay Street                                                              
New York, NY 10286                                                              
United States of America                                                        
Telephone: +1888-BNY ADRS                                                       
Fax:       +1 212 571 3050                                                      
Trading Symbols                                                                 
JSE Limited                              HAR                                    
New York Stock Exchange, Inc.            HMY                                    
London Stock Exchange plc                HRM                                    
Euronext Paris                           HG                                     
Euronext Brussels                        HMY                                    
Berlin Stock Exchange                    HAM1                                   
NASDAQ                                   HMY                                    
Issuer code                              HAPS                                   
Registration number 1950/038232/06                                              
Incorporated in the Republic of South Africa                                    
ISIN: ZAE000015228                                                              
Date: 07/08/2006 08:00:23 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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