HomeGroup profileHighlightsCorporate informationGroup structure of operating companies Group at a glanceBoard of directorsChairman's review Review of operations Ore reserves and mineral resources Corporate governance reportBlack economic empowerment Sustainabiliy report Five-year summary >> Consolidated financial statements >> Company financial statements Notice to membersForm of proxy

You are currently viewing » Consolidated financial statements » Notes to the consolidated financial statements

Notes to the consolidated financial statements for the year ended 30 June 2009

Notes 1. ACCOUNTING POLICIES 2. PROPERTY, PLANT AND EQUIPMENT 3. INVESTMENT PROPERTIES 4. INTANGIBLE ASSETS 5. INVESTMENTS 6. INVENTORIES 7. TRADE AND OTHER RECEIVABLES 8. SHARE CAPITAL 9. SHARE PREMIUM 10. TREASURY SHARES  11. OTHER RESERVES  12. LONG-TERM BORROWINGS 13. DEFERRED TAXATION 14. LONG-TERM PROVISIONS 15. TRADE AND OTHER PAYABLES  16. SHORT-TERM PROVISIONS  17. SHORT-TERM BORROWINGS AND OVERDRAFTS 18. REVENUE  19. FINANCE COSTS  20. PROFIT BEFORE TAXATION AND STATE'S SHARE OF PROFITS 21. TAXATION AND STATE'S SHARE OF PROFITS 22. EARNINGS AND HEADLINE EARNINGS PER SHARE 23. DIVIDENDS  24. NOTES TO THE CASH FLOW STATEMENT  25. FINANCIAL RISK MANAGEMENT 26. CAPITAL MANAGEMENT 27. COMMITMENTS/option> 28. CONTINGENT LIABILITIES 29. INVESTMENT IN JOINT-VENTURE ENTITY 30. SEGMENTAL INFORMATION 31. RELATED PARTY TRANSACTIONS 32. RETIREMENT BENEFIT INFORMATION 33. COMPARATIVE INFORMATION

2009     2008           R’000     R’000   24.     NOTES TO THE CASH FLOW STATEMENT               24.1     Cash generated by operations                  Profit before taxation and State’s share of profits       5 248 880     4 687 456      Adjusted for:       586 466     344 828      – Dividends received       (20 030)    (9 002)     – Interest received       (366 720)    (67 745)     – Profit on disposal of property, plant and equipment       (38 450)    (125)     – Profit on disposal of available-for-sale investments       (19 086)    (22 350)     – Discount on redemption of preference shares       (18 000)    –      – Net unrealised foreign exchange losses/(gains)       22 286     (27 202)     – Amortisation of intangibles       180     180      – Cost of inventories written down       131 383     2 054      – Depreciation and impairment of property, plant and equipment       473 735     293 474      – Finance costs       304 063     71 935      – Environmental provision discount adjustment       5 409     2 485      – Borrowing costs capitalised       (5 915)    (33 919)     – Movement in foreign currency translation reserve       22 231     11 216      – Loss on disposal of property, plant and equipment       14 251     10 040      – Movements in long-term provisions       53 692     52 057      – Movements in short-term provisions       28 500     63 061      – Impairment of receivables and bad debts written off       126     9      – Other non-cash flow items       (1 189)    (1 340)                          5 835 346     5 032 284   24.2     Dividend income                  Credited to the income statement       20 030     9 002   24.3     Movements in working capital                  Increase in inventories       (647 663)    (313 737)     Decrease/(increase) in trade and other receivables       1 383 043     (1 172 830)     (Decrease)/increase in trade and other payables       (395 054)    435 450      Increase in short-term finance raised       –     2 228 056      Payments against short-term provisions       (2 467)    (2 754)          337 859     1 174 185   24.4     Taxation paid                  Unpaid at beginning of year       (966 127)    (89 076)     Charged to the income statement       (1 981 493)    (1 509 091)     Movement in deferred taxation       482 627     251 429      Unpaid at end of year       429 293     966 127           (2 035 700)    (380 611)  24.5     Dividends paid                  Unpaid at beginning of year       (68)    (107)     Paid during the year       (555 717)    (126 000)       Dividends attributable to treasury shares       76 311     4 392      Unpaid at end of year       95     68   24.6 Cash resources   (479 379)    (121 647)    The cash resources disclosed in the cash flow statement comprise cash on hand, deposits held on call with banks and highly liquid investments that are readily convertible to known amounts of cash and are subject to insignificant changes in value over time. Bank overdrafts have been separately disclosed as current liabilities in the balance sheet.