Interim Results

RNS Number:3474X
Simmer & Jack Mines Ld
17 January 2001


Document Dated 6 December 2000

          INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2000

Abridged consolidated income statements

                              Six months          Six months     Nine months
                                ended                ended          ended
                              30 Sept 00          30 Sept 99     31 March 00
                               (R'000)             (R'000)        (R'000)

Turnover                        13 961                4 328         10 348
Operating costs                 15 166               10 499         14 684

Operating loss                  (1 205)              (6 171)        (4 336)
Net finance charges              1 868                2 052          1 291

Loss on ordinary activities
 before taxation                (3 073)              (8 223)        (5 627)
Taxation                          -                       2           -

Loss for the period             (3 073)              (8 225)        (5 627)

Loss per share - based on
 weighted average number of shares
 in issue (cents)                    3                   30              7

Abridged consolidated balance sheets

                                        30 Sept 00               31 March 00
                                         (R'000)                  (R'000)

ASSETS

Non-current assets
 Mining assets, land and buildings       107 156                  106 454

Current assets                             4 076                    3 127       
 Funds on call, bank balances and cash      -                         570
 Other current assets                      4 076                    2 557
                                         111 232                  109 581

EQUITY AND LIABILITIES
Equity capital and reserves               86 457                   57 529
Long-term liabilities - interest bearing  19 676                   14 458
  Shareholder's loan                      19 562                   14 355
  Other long-term liabilities                114                      103

Current liabilities                        5 099                   37 594
  Interest bearing                           234                      492
  Non-interest bearing                     4 865                   37 102
                                         111 232                  109 581

Ordinary shares of 2 cents each in issue
 at end of period ('000)                 203 432                  123 432
Net asset value per share (cents)             42                       47

Notes:

The Svengali Joint Venture terminated during the period and mining of the Lily
Mine open pit oxide reserves commenced. The Lily open pit is yielding a
profitable contribution to results and its performance is exceeding expectation.

The TGME underground operations, however, continue to incur losses and problems
with metallurgical recovery are being addressed.

Despite the setbacks at the TGME underground operations, net operating
performance is continuing to improve and the company is confident that the TGME
recovery problem will be resolved.

6 December 2000

Transfer secretaries                                   Registered office

South Africa                    United Kingdom         1st Floor,
Mercantile Registrars Limited   Independent Registrars Consolidated Building
11 Diagonal Street              Bourne House           86 Fox Street
Johannesburg, 2001              32-34 Beckenham Road   Johannesburg, 2001
(PO Box 1053, Johannesburg 2000 Beckenham, Kent        (PO Box 11165,
South Africa)                   BR3 4TU                 Johannesburg 2000
                                England                South Africa)
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