Results of activity of Mining and smelting concern Kazakhaltyn JSC (Kazakhstan) in the I quarter 2005

/IRBIS, Galina Tsalyuk, October 10, 05/ - Mining and smelting concern Kazakhaltyn JSC (Spepnogorsk, hereinafter - company), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with financial statement for the I quarter 2005. Following indicators are result of the company's financial and economic activity in the I quarter 2005, based upon its data (th. KZT, unless otherwise specified): ---------------------------------------------------------------- As of As of Indicator Jan 1, 04 Jan 1, 03 Change,% -------------------------------- --------- --------- -------- Authorized capital (paid) 1,538,711 1,538,711 0.0 Shareholders' equity 1,627,686 3,170,562 +94.8 Total assets 3,577,603 7,781,198 +117.5 Net working capital 203,953 1,254,330 +515.0 Accounts receivable 1,123,628 2,150,493 +91.4 Total liabilities 1,949,916 4,610,636 +136.5 Borrowed loans (excluding bonds) 1,475,546 1,657,266 +12.3 Accounts payable 474,370 501,033 +5.6 Issued bonds - 2,452,337 - Sales volume 356,546 194,502 -45.4 Prime cost of sales 253,986 177,861 -30.0 Net income for the year 40,318 17,361 -56.9 ---------------------------------------------------------------- Relative to the I quarter 2004 there is growth of: - shareholders' equity of the company - by KZT1.5 bn. as the result of increase of additional unpaid capital by the same amount; - assets - by KZT4.2 bn., including: residual value of fixed assets (including construction in process) - by 3.1 bn., accounts receivable - by 1.0 bn. and other assets - by 118.0 m.; - liabilities - by KZT2.7 bn., what was caused by floatation of bonds for the amount 2.5 bn., growth of volume of borrowed loans (excluding bonds) by 181.7 m. and accounts payable - by 26.7 m.; The company's sales volume in comparison with the I quarter 2004 decreased by KZT162.0 m., prime cost of sales - by KZT76.1 m. Net income the company earned in the I quarter 2005 is less its net income of corresponding period of 2004 by KZT23.0 m. Company's primary activities - exploration and prospecting works, extraction and processing of gold-containing ore, production of gold-containing goods, manufacture, storage and sale of gold and other precious metals, export of gold and other precious metals and precious stones, jewelry production, operations with refined precious metals and precious stones in physical condition, transportation, organization of scientific and development works and development projects. [2005-10-10]