Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited is dated June 19, 2014. Gold Fields is an unhedged, globally diversified gold producer with operations in Australia, Ghana, Peru, and South Africa. The company holds primary listings on the JSE and secondary listings on the NYSE, NASDAQ Dubai, Euronext Brussels, and the Swiss Exchange.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, or margin figures for the reporting period. However, it discloses the following operational and liquidity metrics:
- Credit Facilities: Commitments totaling US$715 million under syndicated bank credit facilities.
- Gold Production: Attributable annual gold production of approximately 2.02 million ounces.
- Gold Reserves: Attributable Mineral Reserves of around 49 million ounces and Mineral Resources of about 113 million ounces.
- Copper Reserves: Attributable Mineral Reserves of 708 million pounds and Mineral Resources of 7,120 million pounds.
Material Changes
The primary material change reported is the amendment and extension of the company's syndicated bank credit facilities. The maturity date for commitments totaling US$715 million has been extended by two years, moving from November 2015 to November 2017. The terms of the facilities remain unchanged.
Outlook, Risks, and Management Commentary
Management commentary focuses on the successful extension of debt maturity, which improves the company's liquidity profile and financial flexibility. The filing notes the company's status as an unhedged producer, implying exposure to gold price volatility. No specific forward-looking guidance on production or financial performance is provided in this document.
Key Facts for Investor Verification
- Verify the specific interest rates and covenants associated with the extended US$715 million credit facility.
- Confirm the current status of the Yilgarn South Assets (Granny Smith, Lawlers, and Darlot mines) acquired in October 2013.
- Review the most recent quarterly or annual report for detailed revenue, profit, and cash flow data not included in this 6-K.
- Assess the impact of the unhedged position on earnings given current gold price trends.