2025
Merafe Resources Limited
Unaudited Condensed Consolidated Financial Statements and cash dividend declaration
for the six months ended 30 June 2025
Delivering today. Investing in tomorrow.
Merafe Resources Limited
Unaudited Condensed Consolidated Financial Statements and cash dividend declaration
for the six months ended 30 June 2025
Delivering today. Investing in tomorrow.
for the six months ended
DOWNLOAD EXCEL| 30 June 2025 Unaudited R'000 |
30 June 2024 Unaudited R'000 |
|
|---|---|---|
| Profit before taxation | 305 822 | 1 003 112 |
| Depreciation and amortisation | 105 960 | 168 702 |
| Impairments | 112 800 | – |
| Effect of exchange rate fluctuations | 89 699 | (5 682) |
| Movement in environmental obligations | 5 306 | (11 923) |
| Income from equity-accounted investment | (5 171) | (10 971) |
| Other non-cash movement | (2 283) | – |
| Profit on sale of property, plant and equipment | (124) | (19 395) |
| Asset held for sale | – | 13 098 |
| Fair value adjustment on provisionally priced revenue | (11 571) | (40 405) |
| Movement in long-term receivable | 5 540 | – |
| Share grants vested | (11 214) | (15 283) |
| Share-based payment (credit)/expense | (1 225) | 11 944 |
| Finance income | (20 432) | (30 460) |
| Finance expense | 653 | 679 |
| Net realisable value inventory adjustment | 1 580 | 724 |
| Changes in working capital: | ||
| Inventories | (679 160) | 249 251 |
| Trade and other receivables | 118 411 | (247 299) |
| Trade and other payables | (173 230) | (56 650) |
| Cash (utilised in)/generated from operating activities | (158 639) | 1 009 442 |
| Finance income received | 23 156 | 30 506 |
| Finance cost paid | (974) | (1 139) |
| Dividend from associate | 639 | – |
| Taxation paid | (24 144) | (186 967) |
| Net cash (utilised in)/generated from operating activities | (159 962) | 851 842 |
| Acquisition of property, plant and equipment – sustaining | (189 409) | (225 955) |
| Acquisition of property, plant and equipment – expansionary | (14 095) | (27 267) |
| Proceeds on disposal of property, plant and equipment | 142 | 8 227 |
| Movement in other long-term receivables | 597 | 199 |
| Net cash utilised in investing activities | (202 765) | (244 796) |
| Dividends paid | (200 069) | (549 393) |
| Repayment of capital portion of lease liabilities | (551) | (1 901) |
| Net cash utilised in financing activities | (200 620) | (551 294) |
| Total cash movement for the period | (563 347) | 55 752 |
| Cash and cash equivalents at the beginning of the period | 1 794 911 | 1 655 807 |
| Effect of foreign exchange rate movement on cash balances | (89 699) | 5 682 |
| Total cash at 30 June | 1 141 865 | 1 717 241 |
