Interim Results

RNS Number:7577O
Griqualand West Diamond Mng Co Ld
1 August 2000


GRIQUALAND WEST DIAMOND MINING COMPANY DUTOITSPAN MINE LIMITED 
(Incorporated in the Republic of South Africa) 
(Company Registration No. 11/00013/06) 
INTERIM REPORT FOR THE HALF-YEAR ENDED 30 JUNE 2000 
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INCOME STATEMENT 
For the half-year ended 30 June 2000 
Abridged and unaudited 
                                     Half-year        Year 
                                        June           Dec 
                                   2000     1999      1999 
                                     R        R         R 
Amount received from holding 
company in terms of working  
agreement                          42 280   42 280    84 560 
Dividend and interest income        2 506    3 110     5 704 
                                  --------------------------- 
                                   44 786   45 390    90 264 
Deduct: 
Expenses                              600      600     3 700 
Net income before taxation         44 186   44 790    86 564 
Deduct: 
Taxation                           15 877   16 058    31 284 
                                 ---------------------------- 
Attributable earnings              28 309   28 732    55 280 
                                 ============================ 
Number of shares in issue         105 700  105 700   105 700 
Earnings per share                   26,8c    27,2c     52,3c 
Dividends per share 
Interim                              20,5c    20,5c     20,5c 
Final                                  -        -       21,0c 
                                 ---------------------------- 
                                     20,5c    20,5c     41,5c 
                                 ============================ 
Dividends payable                 R21 669  R21 669   R43 865 
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BALANCE SHEET 
30 June 2000 
Abridged and unaudited 
                                     Half-year        Year 
                                        June           Dec 
                                   2000     1999      1999 
                                     R        R         R 
Capital employed 
Share capital 
105 700 shares of R20 each     2 114 000 2 114 000 2 114 000 
Distributable reserves            40 421    29 429    33 781 
                              ------------------------------- 
                               2 154 421 2 143 429 2 147 781 
                              =============================== 
Represented by 
Fixed assets                   2 111 722 2 111 722 2 111 722 
Listed investment in holding 
company                            2 448     2 448     2 448 
Net current assets                40 251    29 259    33 611 
                              ------------------------------- 
Current assets                    92 126    80 513    85 051 
                              ------------------------------- 
Amount due by holding company     80 083    69 364    73 390 
Cash                              12 043    11 149    11 661 
                              ------------------------------- 
Current liabilities               51 875    51 254    51 440 
                              ------------------------------- 
Shareholders for unpaid and 
unclaimed dividends               39 039    38 145    39 185 
Creditors                          9 932     9 732     9 540 
Tax                                2 904     3 377     2 715 
                              ------------------------------- 
                               2 154 421 2 143 429 2 147 781 
                              =============================== 
Market value of listed 
investment                         7 038     7 650     7 038 


The Company holds the right to mine the Dutoitspan diamond mine which it
leases to De Beers Consolidated Mines Limited, in terms of an agreement dated
30 August 1889, for an annual consideration of R84 560 and it is anticipated
that the results for the second half of the year will be approximately the
same as for the first half. 


For and on behalf of the board 
N.F. OPPENHEIMER 
G.M. RALFE 
Directors 


31 July 2000 

Registered Office 
36 Stockdale Street, Kimberley 8301, South Africa 

Secretaries and South African Share Transfer Secretaries 
De Beers Consolidated Mines Limited 
36 Stockdale Street, Kimberley 8301, South Africa 
(P.O. Box 616, Kimberley 8300) 

Telephone: [phone] 
Facsimile: [phone]/4230 

London Secretary 
J.C. Greensmith 
17 Charterhouse Street, London EC1N 6RA, England 
Telephone: [phone] 
Facsimile: [phone] 

United Kingdom Registrar 
Computershare Services PLC 
P.O. Box 82, The Pavilions, Bridgwater Road, Bristol BS99 7NH, England 
Telephone: [phone] 
Facsimile: [phone] 
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