Merafe Resources Balance Sheet

Financials in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	1,156	1,434	1,656	1,269	972.13
Cash & Short-Term Investments	1,156	1,434	1,656	1,269	972.13
Cash Growth	-19.37%	-13.39%	30.52%	30.50%	250.15%
Accounts Receivable	1,107	1,115	1,355	852.53	1,547
Other Receivables	173.75	175.29	253.52	13.91	7.42
Receivables	1,281	1,290	1,608	866.44	1,554
Inventory	1,899	1,794	1,916	2,373	1,652
Prepaid Expenses	9.76	1.79	0.85	1.68	0.38
Other Current Assets	393.97	360.76	0.96	0.96	-
Total Current Assets	4,740	4,882	5,183	4,510	4,179
Property, Plant & Equipment	1,148	1,125	1,388	1,075	712.58
Long-Term Investments	38.18	32.68	14.15	6.71	2.77
Other Intangible Assets	16.97	21.19	25.41	29.63	34.06
Long-Term Deferred Tax Assets	-	-	-	6.21	3.39
Other Long-Term Assets	96.11	64.26	37.29	38.66	13.44
Total Assets	6,056	6,142	6,661	5,681	4,945
Accounts Payable	496.95	624.31	757.71	538.95	610.26
Accrued Expenses	144.05	179.34	157.27	143.24	126.53
Short-Term Debt	-	-	-	121.85	58.84
Current Portion of Leases	1.35	1.15	3.15	3.88	3.99
Current Income Taxes Payable	-	0.11	0.18	52.07	5.57
Other Current Liabilities	324.58	120.8	65.62	72.41	87.23
Total Current Liabilities	966.93	925.7	983.92	932.4	892.4
Long-Term Leases	3.37	4.72	5.91	9.06	10.92
Long-Term Deferred Tax Liabilities	84.86	186.15	271.55	131.02	92.23
Other Long-Term Liabilities	282.05	149.61	141.37	277.87	179.65
Total Liabilities	1,337	1,266	1,403	1,350	1,175
Common Stock	24.99	24.99	24.99	24.99	24.99
Additional Paid-In Capital	1,264	1,264	1,264	1,264	1,264
Retained Earnings	3,430	3,587	3,970	3,041	2,481
Shareholders' Equity	4,719	4,876	5,259	4,330	3,770
Total Liabilities & Equity	6,056	6,142	6,661	5,681	4,945
Total Debt	4.72	5.87	9.06	134.79	73.74
Net Cash (Debt)	1,152	1,428	1,647	1,134	898.39
Net Cash Growth	-19.37%	-13.27%	45.24%	26.21%	298.93%
Net Cash Per Share	0.46	0.57	0.66	0.45	0.36
Filing Date Shares Outstanding	2,499	2,499	2,499	2,499	2,499
Total Common Shares Outstanding	2,499	2,499	2,499	2,499	2,499
Working Capital	3,773	3,956	4,199	3,578	3,287
Book Value Per Share	1.89	1.95	2.10	1.73	1.51
Tangible Book Value	4,702	4,855	5,233	4,301	3,736
Tangible Book Value Per Share	1.88	1.94	2.09	1.72	1.49
Machinery	4,565	4,562	4,456	4,241	4,073

Source: S&P Global Market Intelligence. Standard template. Financial Sources.