Interim Results

RNS Number:7543T
Stilfontein Gold Mining Co
28 March 2002

STILFONTEIN GOLD MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1949/033412/06)
Share code: STI ISIN: ZAE000007118
("the company")

INTERIM REPORT FOR THE SIX MONTHS ENDED 31 DECEMBER 2001

Issued Capital 13 062 920 Ordinary Shares of 50 cents each

Financial Results (R'000)

INCOME STATEMENTS
                                                                 Unaudited        Unaudited       Audited
                                                                six months       six months          year
                                                                     ended            ended         ended
                                                               31 December      31 December       30 June
                                                                      2001             2000          2001
Net operating (loss)/income for the period                            (52)             (55)           536

Net finance income                                                     395                3            30

Net income/(loss) for the period before taxation                       343             (52)           566

Taxation                                                               103                -             -

Net income/(loss) for the period                                       240             (52)           566

Basic, headline and diluted earnings/(loss) per share                  1,8            (0,4)           4,3
(cents)


BALANCE SHEETS
                                                                 Unaudited        Unaudited       Audited
                                                               31 December      31 December       30 June
                                                                      2001             2000          2001
ASSETS

Non-current assets
- Property, plant and equipment                                      7 966            7 966         7 966
- Investments                                                           29               29            29
                                                                     7 995            7 995         7 995
Current assets                                                       5 172            6 071         5 617
Total assets                                                        13 167           14 066        13 612

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities
- interest bearing                                                       -              869             -
- non-interest bearing                                               1 096            1 986         1 781
Total liabilities                                                    1 096            2 855         1 781
Shareholders' equity                                                12 071           11 211        11 831
Total liabilities and equity                                        13 167           14 066        13 612
Net asset value per share (cents)                                     92,4             85,8          90,6


CASH FLOW STATEMENTS
                                                                 Unaudited        Unaudited       Audited
                                                                six months       six months          year
                                                                     ended            ended         ended
                                                               31 December      31 December       30 June
                                                                      2001             2000          2001
Cash flows from operating activities                                   909            1 685         2 810
Net cash at bank/(bank overdraft) at beginning of period               256          (2 554)       (2 554)
Net cash at bank/(bank overdraft) at end of period                   1 165            (869)           256


STATEMENT OF CHANGE IN EQUITY
                                                        Share          Share        Retained
                                                      capital        premium        earnings         Total
Balance on 1 July 2000                                  6 531          1 514           3 220        11 265
Net earnings for period                                     -              -             566           566
Balance on 1 July 2001                                  6 531          1 514           3 786        11 831
Net earnings for the period                                 -              -             240           240
Balance on 31 December 2001                             6 531          1 514           4 026        12 070



Notes to the interim condensed financial statements

These consolidated, abridged interim financial statements were drawn up in
compliance with South African Statements of Generally Accepted Accounting
Practice and the company has complied with the requirements of the Companies
Act.

The accounting policies as set out in the 2001 annual report have been
consistently applied in producing these results.

No material events, which have not been reflected in the interim financial
statements, have occurred subsequent to the end of the financial period.

There has been no change in contingent liabilities since 30 June 2001.

COMMENTS


 1. During the period under review, the company continued pumping operations on
    behalf of Hartebeestfontein Gold Mining Company Limited.

 2. The improvement in working capital is mainly due to the partial repayment of
    the loan to Hartebeestfontein Gold Mining Company Limited.

 3. Provision has been made for taxation on non-mining income at a rate of 30 per
    cent.

For and on behalf of the board
R A R Kebble                N J Froneman
Chairman                    Director

Johannesburg

28 March 2002

Company secretary: P B Beale

Registered office: 28 Harrison Street, Johannesburg, 2001, (PO Box 11165,
Johannesburg, 2000)

Transfer secretaries: Ultra Registrars (Pty) Limited, 11 Diagonal Street,
Johannesburg, 2001,

(PO Box 4844, Johannesburg, 2000)

United Kingdom Registrars: Computershare Investor Services Plc

Security Services - Registrars, PO Box 82, The Pavilions, Bridgwater Road,
Bristol BS99 7NH

Telephone [phone] Telefax [phone]

United Kingdom Secretaries: St. James's Corporate Services Limited, 6 St.
James's Place, London, SW1A 1NP

Telephone [phone] Telefax [phone]

French Agents: Euro Emetteurs Finance, 48 Boulevard des Batignolles, 75850
Paris, CEDEX 17, France

Telephone [phone] Telefax ([phone]



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