Griqualand West - Interim Results

RNS No 2718u
GRIQUALAND WEST DIAMOND MINING COMPANY DUTOITSPAN MINE LIMITED
4th August 1997

GRIQUALAND WEST DIAMOND MINING COMPANY DUTOITSPAN MINE LIMITED
Incorporated in the Republic of South Africa
Company Registration No. 11/00013/06

INTERIM REPORT FOR THE HALF-YEAR ENDED 30 JUNE 1997


INCOME STATEMENT
for the half-year ended 30 June 1997
Abridged and unaudited
                                                     Half-year            Year
                                                        June               Dec
                                                  1997         1996       1996
                                                     R            R          R
Amount received from holding company in
terms of working agreement                      42 280       42 280     84 560
Dividend and interest income                     2 047        1 477      3 178
                                              --------     --------  ---------
                                                44 327       43 757     87 738
Deduct:
Expenses                                           600          600      2 850
                                              --------     --------  ---------
Net Income before taxation                      43 727       43 157     84 888

Deduct:
Taxation                                        17 907       17 936     34 986
                                              --------     --------  ---------
Attributable earnings                           25 820       25 221     49 902
                                              ========     ========  =========

Number of shares in issue                      105 700      105 700    105 700
Earnings per share                               24.4c        23.9c      47.2c

Dividends per share
  Interim                                        20.5c        20.5c      20.5c
  Final                                              -            -      21.0c
                                              --------     --------  ---------
                                                 20.5c        20.5c      41.5c
                                              ========     ========  =========

Dividends payable                               21 669       21 669     43 865


BALANCE SHEET
30 June 1997
Abridged and unaudited
                                                      Half-year           Year
                                                        June               Dec
                                                  1997         1996       1996
                                                     R            R          R
Capital employed:
Share capital
  105 700 shares of R20 each                 2 114 000    2 114 000  2 114 000
Distributable reserves                          12 771        6 136      8 619
                                             ---------    ---------  ---------
                                             2 126 771    2 120 136  2 122 619
                                             =========    =========  =========
Represented by:
Fixed assets                                 2 111 722    2 111 722  2 111 722
Listed investment in holding company             2 448        2 448      2 448

Net current assets                              12 601        5 966      8 449
                                              --------------------------------
Current assets                                  61 272       53 770     57 285
                                              --------     --------   --------
Amount due by holding company                   51 903       45 591     47 992
Cash                                             9 369        8 179      9 293
                                              --------     --------   --------
Current liabilities                             48 671       47 804     48 836
                                              --------     --------    -------
Shareholders for unpaid and unclaimed dividends 36 334       35 122     36 775
Creditors                                        9 163        9 488      9 159
Tax                                              3 174        3 194      2 902
                                              --------     --------   --------
                                              --------------------------------
                                             ---------    ---------   --------
                                             2 126 771    2 120 136  2 122 619
                                             =========    =========  =========

Market value of listed investment                7 191        6 120      6 120
Net asset value per share                     2 016.6c     2 009.3c   2 011.6c

The Company holds the right to mine the Dutoitspan diamond mine which it
leases to De Beers Consolidated Mines Limited, in terms of an agreement dated
30 August 1889, for an annual consideration of R84 560 and it is anticipated
that the results for the second half of the year will be approximately the
same as for the first half.

For and on behalf of the board

J OGILVIE THOMPSON         Directors
N F OPPENHEIMER

4 August 1997

Registered Office
36 Stockdale Street, Kimberley 8301, South Africa

Secretaries and South African Share Transfer Secretaries
De Beers Consolidated Mines Limited
36 Stockdale Street, Kimberley 8301, South Africa
(P O Box 616, Kimberley 8300)
Fax:  (0531) 807-210/230
Tel:   (0531) 807-111

London Secretaries
Anglo American Corporation of South Africa Limited
19 Charterhouse Street, London  EC1N 6QP
Fax:  (0171) 430 3560     Tel:   (0171 404 1944

United Kingdom Registrar
The Royal Bank of Scotland plc, Securities Services - Registrars
P O Box 82, Caxton House, Redcliffe Way, Bristol  BS99 7NH
Fax:  (0117) 930 6509     Tel:   (0117) 930 6600


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