JOHANNESBURG (miningweekly.com) – JSE-listed Village Main Reef on Wednesday reported that its headline earnings per share (HEPS) from continuing operations had decreased by 63% year-on-year to 145.73c for the six months ended December 31.
The miner had reported HEPS of 396.22c in the six months to December 2013.
Village’s revenue decreased to R763.15-million in the six months under review, compared with R810.08-million in the prior comparable period, while it posted a net loss of R239.38-million, compared with a net profit of R127.98-million in the six months to December 2013.
Operating profit fell, from R162.16-million in 2013, to R99.63-million in the period under review.
The miner had placed its Consolidated Murchison (Cons Murch) subsidiary in liquidation this month. The company had applied for business rescue for the subsidiary in December, following a failed attempt to sell its Cons Murch shares to Australian miner Stibium Mining, which was unable to obtain financing for the deal.
Last year, it also announced that a number of its mines would be discontinued.
It had ceased operations at its Buffelsfontein gold mine, in the Free State, which during the six months, realised a profit of R19-million.