Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited, dated March 31, 2015, announces the publication of the Integrated Annual Report for the fiscal year ended December 31, 2014. Gold Fields is an unhedged, globally diversified gold producer with operations in South Africa, West Africa (Ghana), Australia, and South America (Peru). The company holds primary listings on the JSE and secondary listings on the NYSE, NASDAQ Dubai, and the Swiss Exchange.
Key Financial and Operational Metrics
The filing focuses on operational reserves and resources rather than specific financial performance figures for the 2014 period, noting that the preliminary consolidated results released on February 12, 2015, remain unchanged.
- Gold Production: Approximately 2.2 million ounces (attributable annual production).
- Gold Mineral Reserves: 48 million ounces (as of December 31, 2014).
- Gold Mineral Resources: 108 million ounces total (96 million ounces exclusive of growth projects).
- Copper Mineral Reserves: 620 million pounds.
- Copper Mineral Resources: 6,873 million pounds total (1,001 million pounds exclusive of growth projects).
- Valuation Assumptions: Reserves are based on a gold price of US$1,300/oz and a copper price of US$3.0/lb, compliant with the SAMREC Code.
Financial Metrics: The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity for the 2014 period.
Material Changes
The filing states that there have been no changes to the reviewed preliminary consolidated results previously published on February 12, 2015. Consequently, no abridged report was published. The primary update is the formal release of the full Integrated Annual Report and the Mineral Resource and Mineral Reserve Supplement.
Guidance, Outlook, and Corporate Actions
Management Commentary: The company highlights the comprehensive nature of the new reports, covering operational reviews, project activities, and sustainable development information. The results have been audited by KPMG with an unqualified audit report.
Annual General Meeting (AGM):
- Date: Wednesday, May 6, 2015, at 09:00.
- Location: 150 Helen Road, Sandown, Sandton, South Africa.
- Record Date: Friday, April 30, 2015, at 09:00.
- Last Day to Trade: Wednesday, April 22, 2015.
Risks and Contingencies: The filing text does not explicitly detail new risks or contingencies beyond the standard operational context of a mining company.
Investor Verification Checklist
- Verify the full financial statements (revenue, profit, cash flow) in the "Statutory Annual Financial Report 2014" referenced in the filing, as specific numbers are not included in this summary text.
- Confirm the reconciliation of the 48 million ounces of gold reserves against the 108 million ounces of resources to understand the conversion rate and growth project potential.
- Review the "Mineral Resource and Mineral Reserve Supplement 2014" for detailed breakdowns by operation and growth project.
- Check the company website (www.goldfields.com) for the Notice of AGM to review specific agenda items for the May 6, 2015 meeting.
- Confirm the unqualified audit opinion from KPMG by inspecting the full audit report available at company offices.