Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited (GFI) covers the month of March 2006. The report primarily announces the completion of a Plan of Arrangement with Bolivar Gold Corp. (BGC), following the dismissal of an appeal by Scion Capital et al. by the Yukon Court of Appeal.
Key Financial Metrics and Operational Data
The filing does not provide specific financial statements, revenue, profit, cash flow, or debt figures for the reporting period. However, it outlines the following operational metrics:
- Gold Fields Annual Production: Approximately 4.2 million ounces.
- Gold Fields Reserves: 64.8 million ounces.
- Gold Fields Mineral Resources: 174.5 million ounces.
- Bolivar Gold Choco 10 Reserves: 1.3 million ounces (near-surface proven and probable).
- Bolivar Gold Choco 10 Capacity: 5,400 tonnes per day.
Material Changes
The primary material change is the legal and operational completion of the acquisition of Bolivar Gold Corp. by Gold Fields Limited:
- The Yukon Court of Appeal dismissed the appeal against the Plan of Arrangement.
- Bolivar Gold has filed Articles of Arrangement, finalizing the transaction.
- Effective immediately, Bolivar Gold shareholders and warrantholders hold only a right to payment.
- Bolivar Gold common shares and warrants were delisted from the Toronto Stock Exchange (TSX) on or about March 2, 2006.
Outlook, Risks, and Management Commentary
Management commentary focuses on the successful conclusion of the Bolivar Gold transaction. The filing notes that Gold Fields is one of the world's largest unhedged gold producers with operations in South Africa, Ghana, Australia, and Peru. All operations are ISO 14001 certified. No specific forward-looking guidance, risks, or contingencies regarding future financial performance are detailed in this specific press release text.
Investor Verification Checklist
- Verify the status of payment for Bolivar Gold shares and warrants held in "street form" versus registered form.
- Confirm the delisting of Bolivar Gold from the TSX as of March 2, 2006.
- Review the terms of the Plan of Arrangement for specific payment details not included in this summary.
- Check subsequent filings for the consolidated financial impact of the Bolivar Gold acquisition.