Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited, dated November 20, 2008, announces the submission of its annual report on Form 20-F to the U.S. Securities and Exchange Commission. The annual report covers the fiscal year ended June 30, 2008. Gold Fields is a major unhedged gold producer with operations in South Africa, Ghana, Australia, and Peru.
Key Financial Metrics
The filing text does not provide specific financial figures for revenue, profit, cash flow, margins, debt, or liquidity for the period ended June 30, 2008. It serves solely as a notification of the Form 20-F filing.
Operational metrics provided include:
- Attributable Production: 3.64 million ounces per annum from eight operating mines.
- New Production: Cerro Corona mine (Peru) commenced in August 2008 at approximately 375,000 gold equivalent ounces per annum.
- Reserves and Resources: 83 million ounces of attributable ore reserves and 251 million ounces of mineral resources.
Material Changes
The primary material change noted is the commencement of production at the Cerro Corona Gold/Copper mine in Peru in August 2008. Additionally, the company reported an expansion in its operational footprint to nine mines.
Guidance, Outlook, and Management Commentary
Gold Fields aims to increase its production rate to approximately 4.0 million ounces per annum during the March quarter of 2009. The company is listed on the JSE, NYSE, DIFX, NYX, and SWX. Shareholders may request hard copies of the Form 20-F Annual Report free of charge.
Investor Verification Checklist
- Verify the full financial results (revenue, net income, cash flow) in the referenced Form 20-F for the year ended June 30, 2008.
- Confirm the actual production output from the Cerro Corona mine since its August 2008 start-up.
- Review the company's hedging strategy, as it is described as an "unhedged producer," which exposes it to gold price volatility.
- Check the progress toward the 4.0 million ounce per annum production target for the March quarter of 2009.