Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited covers the month of February 2006. The report primarily announces a corporate development regarding the acquisition of Bolivar Gold Corp. Gold Fields is described as one of the world's largest unhedged gold producers with operations in South Africa, Ghana, Australia, and Peru.
Key Financial and Operational Metrics
The filing does not provide specific financial statements, revenue, profit, cash flow, or debt figures for the reporting period. However, it discloses the following operational metrics:
- Annual Gold Production: Approximately 4.2 million ounces.
- Reserves: 64.8 million ounces.
- Mineral Resources: 174.5 million ounces.
- Bolivar Gold Choco 10 Reserves: 1.3 million ounces (proven and probable).
- Bolivar Gold Choco 10 Capacity: 5,400 tonnes per day.
Material Changes
The primary material change is the court approval of a plan of arrangement for Gold Fields to acquire Bolivar Gold Corp. The Supreme Court of the Yukon Territory of Canada approved the transaction, which is expected to be completed by the end of February 2006. This acquisition will combine Bolivar Gold's assets with Gold Fields' international portfolio.
Outlook and Management Commentary
Management commentary focuses on the strategic expansion through the acquisition of Bolivar Gold. The Choco 10 property in Venezuela, which commenced commercial production in August 2005, is highlighted as a key asset. The filing notes that all Gold Fields operations are ISO 14001 certified. No specific financial guidance or risk factors regarding the transaction were detailed in this specific text excerpt.
Investor Verification Checklist
- Confirm the final closing date of the Bolivar Gold acquisition (expected end of February 2006).
- Review the specific terms of the plan of arrangement and the consideration paid to Bolivar Gold shareholders.
- Verify the integration timeline for the Choco 10 operation into Gold Fields' reporting structure.
- Check subsequent filings for updated financial statements reflecting the combined entity.