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	Home          Profile & mission          Key features          Chairman‘s statement          The board & executive          CEOs‘ review          Finance review       +   Market review       +   Operations review          Ore reserves & mineral resources review          Projects review       +   Company statistics            Financial statements Approval of the Annual Financial Statements Declaration by the Company Secretary Auditor‘s Report Directors‘ Report Remuneration Report Audit Committee Report Principal accounting policies Consolidated Income Statement Segmental Information Consolidated Balance Sheet Consolidated Cash Flow Statement Group Statement of Recognised Income and Expense United States Dollar Equivalent Consolidated Income Statement United States Dollar Equivalent Consolidated Balance Sheet United States Dollar Equivalent Consolidated Cash Flow Statement Notes to the Consolidated Financial Statements Annexures Appendix 1       +   Directorate & management       +   Shareholders‘ information	Financial statements  |  Notes to the Consolidated Financial Statements   print page   email page   PDF 639KB Explore Notes ---------------------------------------------------------------------------------------------- 1. Gross sales revenue ---------------------------------------------------------------------------------------------- 2. Exchange rates to the South African rand ---------------------------------------------------------------------------------------------- 3. Cash operating costs ---------------------------------------------------------------------------------------------- 4. Depreciation of operating assets ---------------------------------------------------------------------------------------------- 5. Other costs ---------------------------------------------------------------------------------------------- 6. Other net expenditure ---------------------------------------------------------------------------------------------- 7. Interest expensed and received ---------------------------------------------------------------------------------------------- 8. Profit before taxation ---------------------------------------------------------------------------------------------- 9. Taxation ---------------------------------------------------------------------------------------------- 10. Earnings per ordinary share ---------------------------------------------------------------------------------------------- 11. Reconciliation between net profit       and headline earnings ---------------------------------------------------------------------------------------------- 12. Ordinary and preference dividends ---------------------------------------------------------------------------------------------- 13. Property, plant and equipment ---------------------------------------------------------------------------------------------- 14. Capital work-in-progress ---------------------------------------------------------------------------------------------- 15. Exploration and evaluation ---------------------------------------------------------------------------------------------- 16. Investment in associates ---------------------------------------------------------------------------------------------- 17. Joint ventures ---------------------------------------------------------------------------------------------- 18. Investments held by environmental trusts ---------------------------------------------------------------------------------------------- 19. Other financial assets ---------------------------------------------------------------------------------------------- 20. Other non-current assets ---------------------------------------------------------------------------------------------- 21. Inventories ---------------------------------------------------------------------------------------------- 22. Accounts receivable ---------------------------------------------------------------------------------------------- 23. Other assets ---------------------------------------------------------------------------------------------- 24. Derivative financial assets ---------------------------------------------------------------------------------------------- 25. Cash and cash equivalents ---------------------------------------------------------------------------------------------- 26. Assets held for sale ---------------------------------------------------------------------------------------------- 27. Combined statement of movement in       shareholders’ funds and       movement in reserves ---------------------------------------------------------------------------------------------- 28. Share capital ---------------------------------------------------------------------------------------------- 29. Deferred taxation ---------------------------------------------------------------------------------------------- 30. Environmental obligations ---------------------------------------------------------------------------------------------- 31. Employee benefits ---------------------------------------------------------------------------------------------- 32. Obligations due under finance leases ---------------------------------------------------------------------------------------------- 33. Interest-bearing borrowings ---------------------------------------------------------------------------------------------- 34. Accounts payable ---------------------------------------------------------------------------------------------- 35. Other liabilities ---------------------------------------------------------------------------------------------- 36. Related party transactions ---------------------------------------------------------------------------------------------- 37. Reconciliation of profit before       taxation to cash from operations ---------------------------------------------------------------------------------------------- 38. Taxation paid ---------------------------------------------------------------------------------------------- 39. Purchase of property, plant and equipment ---------------------------------------------------------------------------------------------- 40. Commitments ---------------------------------------------------------------------------------------------- 41. Contingent liabilities ---------------------------------------------------------------------------------------------- 42. Change in accounting estimate ---------------------------------------------------------------------------------------------- 43. Financial instruments ---------------------------------------------------------------------------------------------- 44. Analysis of shareholders ---------------------------------------------------------------------------------------------- 45. Revision of conversion price applicable       to convertible preference shares ---------------------------------------------------------------------------------------------- 46. Comparative figures ---------------------------------------------------------------------------------------------- 47. Post-balance events ----------------------------------------------------------------------------------------------
		Notes to the Consolidated Financial Statements     2007 Rm    2006 Rm  15. Exploration and evaluation The balances and movements for exploration and evaluation costs as included in notes 13 and 14 above are as follows: Beginning of the year Cost 692   475 Accumulated amortisation (35)   (20)   Carrying amount 657   455 Reconciliation of carrying amount at beginning and end of the year Opening balance 657   455 Additions (Note 5) 228   217 Amortisation charge (23)   (15)   Closing balance 862   657 End of the year Cost 920   692 Accumulated amortisation (58)   (35)   Carrying amount 862   657 16. Investment in associates Listed – ordinary shares (2006 market value: R2,730 million) —   587 Unlisted (directors’ valuation: R391 million (2006: R357 million)) 391   357 Ordinary shares 14   94 Cumulative redeemable preference shares 95   97 Loan to associate (subordinated to third party debt) 54   34 Unincorporated associate – Pandora        Investment 228   132     391   944 The movement for the year in the Group’s investment in associates was as follows: Investment in listed and unlisted ordinary shares Carrying amount – opening balance 847   673 Investment to maintain shareholding proportion —   18 Net profit after taxation 272   281 Income from associates 448   430 Taxation (176)   (149) Current (106)   (103) STC (35)   (18) Deferred (35)   (28) Dividends received (279)   (148) Loan to associate 11   16 Revaluation of loan to associate 9   4 Deferred foreign exchange translation losses (Note 27) (57)   — Share of movement in other reserves of associates —   3   Transferred to assets held for sale (Note 26) (507)   — Carrying amount – closing balance 296   847 Investment in cumulative redeemable preference shares 95   97     391   944   Gross goodwill less accumulated impairment included in carrying amount 105   105
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