REG-Pan African Resources PLC: Interim Results for the six months ended 31 Dec 2014 <Origin Href="QuoteRef">PAFR.L</Origin> <Origin Href="QuoteRef">PANJ.J</Origin> - Part 3
26/02/2015 07:00
- Part 3: For the preceding part double click ID:nPRrP11E5b
31 December 2013
Barberton Evander Phoenix Corporate Funding Group
Mines Mines Platinum and Growth Company
Projects
GBP GBP GBP GBP GBP GBP
Revenue
Gold sales* 47,398,175 35,481,625 - - - 82,879,800
Platinum Sales - - 1,757,696 - - 1,757,696
Realisation costs (127,660) (63,139) - - - (190,799)
On - mine revenue 47,270,515 35,418,486 1,757,696 - - 84,446,697
Gold cost of production (25,747,227) (26,772,222) - - - (52,519,449)
Platinum cost of production - - (1,589,715) - - (1,589,715)
Depreciation (1,954,645) (2,838,254) (295,367) - - (5,088,266)
Mining Profit 19,568,643 5,808,010 (127,386) - - 25,249,267
Other inome/(expenses) ** (619,959) (215,491) (60,988) 673,613 - (222,825)
Loss from associate - - - (89,287) - (89,287)
Loss on disposal of associate - - - - - -
Impairment costs - - - - - -
Royalty costs (1,036,088) (710,539) - - - (1,746,627)
Net income / (loss) before 17,912,596 4,881,980 (188,374) 584,326 - 23,190,528
finance income and finance
costs
Finance income 34,569 240,669 - 106,214 - 381,452
Finance costs (2,834) (383,105) - - (339,320) (725,259)
Profit /(loss) before taxation 17,944,331 4,739,544 (188,374) 690,540 (339,320) 22,846,721
Taxation (4,788,802) (691,065) 25,889 (73,137) (9,767) (5,536,882)
Profit /(loss) after taxation 13,155,529 4,048,479 (162,485) 617,403 (349,087) 17,309,839
Segmental Assets (Total assets
excluding goodwill) 78,365,626 150,576,780 11,750,929 (18,213,261) 1,620 222,481,694
Segmental Liabilities 20,841,692 55,114,119 270,051 1,315,425 11,623,416 89,164,703
Goodwill 21,000,714 - - - - 21,000,714
Net Assets (excluding goodwill) 57,523,934 95,462,661 11,480,878 (19,528,686) (11,621,796) 133,316,991
Capital Expenditure 5,201,824 4,695,367 10,789 82,328 - 9,990,308
*All gold sales were made in the Republic of South Africa and the majority of
revenue was generated from a single customer, Rand Refinery (Pty) Ltd.
**Other expenses exclude inter-management fees and dividend received
Consolidated ZAR Statement of Financial Position as at 31 December 2014
31 December 2014 30 June 2014 31 December 2013
(Unaudited) (Unaudited) (Unaudited)
ZAR ZAR ZAR
ASSETS
Non-current assets
Property, plant and equipment and mineral rights 3,468,613,567 3,338,621,179 3,223,224,620
Other intangible assets 3,816,624 3,860,082 4,168,496
Deferred taxation 4,955,969 6,601,879 3,941,956
Goodwill 303,491,812 303,491,812 303,491,812
Investments 12,157,054 - -
Investments in associate - 10,558,872 12,226,005
Rehabilitation trust fund 292,085,919 278,403,816 270,886,283
4,085,120,945 3,941,537,640 3,817,939,172
Current assets
Inventories 90,889,845 96,193,722 112,694,887
Current tax asset 10,339,700 15,390,775 4,715,290
Trade and other receivables 229,681,450 210,651,809 138,157,739
Cash and cash equivalents 88,233,175 101,186,004 73,493,211
419,144,170 423,422,310 329,061,127
Non-current assets held for sale - - 3,200,000
TOTAL ASSETS 4,504,265,115 4,364,959,950 4,150,200,299
EQUITY AND LIABILITIES
Capital and reserves
Share capital 244,480,271 244,480,271 244,100,505
Share premium 1,322,660,134 1,322,660,134 1,321,426,474
Translation reserve - - -
Share option reserve 17,189,849 15,965,957 13,957,178
Retained income 1,341,862,736 1,500,694,965 1,324,390,325
Realisation of equity reserve (140,624,130) (140,624,130) (140,624,130)
Merger reserve (154,707,759) (154,707,759) (154,707,759)
Other reserves (6,769,609) (99,569) -
Equity attributable to owners of the parent 2,624,091,492 2,788,369,869 2,608,542,593
Total equity 2,624,091,492 2,788,369,869 2,608,542,593
Non-current liabilities
Long term provisions 227,497,973 216,717,341 228,659,301
Long term liabilities 456,873,408 146,625,129 204,323,651
Deferred taxation 779,523,431 780,797,921 836,672,181
1,463,894,812 1,144,140,391 1,269,655,133
Current liabilities
Trade and other payables 287,418,606 310,127,663 256,168,197
Current portion of long term liabilities 113,767,493 85,634,001 -
Current tax liability 15,092,712 36,688,026 15,834,376
416,278,811 432,449,690 272,002,573
TOTAL EQUITY AND LIABILITIES 4,504,265,115 4,364,959,950 4,150,200,299
Consolidated ZAR Statement of Profit or Loss and Other Comprehensive Income
for the period ended 31 December 2014
31 December 2014 31 December 2013
(Unaudited) (Unaudited)
ZAR ZAR
Revenue
Gold sales 1,171,168,538 1,321,104,010
Platinum sales 46,241,219 28,017,677
Realisation costs (5,264,311) (3,041,330)
On - mine revenue 1,212,145,446 1,346,080,357
Gold cost of production (942,233,920) (837,160,015)
Platinum cost of production (32,115,757) (25,340,051)
Mining depreciation (83,565,346) (81,106,966)
Mining profit 154,230,423 402,473,325
Other income/(expenses) 9,342,380 (3,551,823)
Loss in associate (2,291,239) (1,423,228)
Loss on disposal of associate (2,429,880) -
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