Earnings Call Excerpt
Gold Fields Limited (GFI)
F3Q06 Earnings Conference Call
May 2, 2006, 10:30 a.m. EST
Executives
Ian Cockerill - Chief Executive Officer
Nick Holland - Chief Financial Officer
Brendan Walker - Executive Vice President, Head of South African Operations
Terence Goodlace - Senior Vice President, Head of International Operations
Willie Jacobsz - Senior Vice President, Investor Relations and Corporate Affairs
Analysts
Alan Cook - Nedcor Securities
Victor Flores - HSBC
Muneer Ismail - Deutsche Securities
Joachim Berlenbach - Craton Capital
Peter Townsend - Bernard Jacobs
Sam Robbins - Robbins Planning Company
Barry Cooper - CIBC World Markets
Presentation
Operator
Welcome to the Gold Fields Third Quarter Fiscal 2006 Conference Call. My name is Gregory and I’ll be your coordinator for today.
(Operator Instructions)
I would now like to turn the call over to Mr. Willie Jacobsz. Please proceed, sir.
Willie Jacobsz
Thank you very much. Ladies and gentlemen, thank you for joining us for this third quarter results teleconference call. Ian Cockerill is going to give some introductory remarks, after which Nick Holland will take us through the financials, and then the rest of the lineup will be Brendan Walker, who joins us today for the first time to talk about the South African operations. After which Terence Goodlace will talk about the international operations. Ian Cockerill will then wrap up again. I’ll hand it over to Ian now.
Ian Cockerill
Thank you very much indeed. Let me also welcome Brendan here to his first teleconference call. I think it’s fair to say that if his previous performance in Ghana is anything to go by, I think we can all look forward to some positive local results in the not-too-distant future.
Now, it’s said that the gold industry is never a dull place to be in, and certainly I think that would characterize this past quarter. We saw the gold price rise to some of the highest dollar levels seen in years and, despite a strengthening Rand, we saw Rand denominated gold prices also reaching new recent highs.
Naturally, these all assisted with the results we’re going to be presenting here today, but I think it would also be fair to say that would mask what has been a very good overall performance for the group as we build up the platform that we’ve established these past few years.
Certainly we’re currently benefiting from a confluence of positive factors -- a high dollar price, a good Rand price, a diversified and growing production base, and the business model that has the make-up to benefit from those features.
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