GROUP CONDENSED STATEMENT OF FINANCIAL POSITION

as at 30 June 2014

	As at 30 June 2014 Reviewed R’000	As at 31 December 2013 Audited R’000
ASSETS
Property, plant and equipment	3 249 215	3 099 988
Total non-current assets	3 249 215	3 099 988
Inventories	1 206 738	1 132 986
Trade and other receivables	617 831	677 649
Current tax asset	1 579	7 440
Cash and cash equivalents	64 761	85 547
Total current assets	1 890 909	1 903 622
Total assets	5 140 124	5 003 610
EQUITY
Share capital	24 958	24 942
Share premium	1 263 983	1 262 899
Equity-settled share-based payment reserve	40 429	39 011
Retained earnings	1 823 648	1 598 985
Total equity attributable to equity holders	3 153 018	2 925 837
LIABILITIES
Loans and borrowings	575 003	576 311
Provision for closure and restoration costs	118 249	111 456
Deferred tax liability	685 383	626 099
Total non-current liabilities	1 378 635	1 313 866
Loans and borrowings	31 051	19 471
Trade and other payables*	532 099	648 143
Bank overdraft	45 321	96 293
Total current liabilities	608 471	763 907
Total liabilities	1 987 106	2 077 773
Total equity and liabilities	5 140 124	5 003 610

* Includes short-term inventory facility of R65m (31 December 2013: R194m)

Sponsor: Merrill Lynch South Africa Proprietary Limited

Executive Directors: Z Matlala (Chief Executive Officer), D Chocho (Chief Financial Officer), B McBride
Non-executive Directors: CK Molefe (Chairman)*, NB Majova*, M Mamathuba, A Mngomezulu*,
K Nondumo*, S Phiri, M Mosweu, Z van der Walt*
Company Secretary: A Mahendranath
Registered office: First Floor, Block B, Sandton Place,
68 Wierda Road East, Wierda Valley, Sandton, 2196
Transfer secretaries: Link Market Services South Africa Proprietary Limited
* independent

Finance and Investor Relations Manager: Kajal Bissessor
Tel: +27 11 783 4780/+27 83 784 6686
Email: kajal@meraferesources.co.za