Merafe Resources Balance Sheet

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

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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	1,591	1,156	1,434	1,656	1,269	972.13
Cash & Short-Term Investments	1,591	1,156	1,434	1,656	1,269	972.13
Cash Growth	39.36%	-19.37%	-13.39%	30.52%	30.50%	250.15%
Accounts Receivable	1,443	1,107	1,115	1,355	852.53	1,547
Other Receivables	123.1	173.75	175.29	253.52	13.91	7.42
Receivables	1,566	1,281	1,290	1,608	866.44	1,554
Inventory	1,338	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	410.32	393.97	360.76	0.96	0.96	-
Total Current Assets	4,905	4,740	4,882	5,183	4,510	4,179
Property, Plant & Equipment	1,223	1,148	1,125	1,388	1,075	712.58
Long-Term Investments	37.25	38.18	32.68	14.15	6.71	2.77
Other Intangible Assets	14.79	16.97	21.19	25.41	29.63	34.06
Long-Term Deferred Tax Assets	-	-	-	-	6.21	3.39
Other Long-Term Assets	113.25	96.11	64.26	37.29	38.66	13.44
Total Assets	6,293	6,056	6,142	6,661	5,681	4,945
Accounts Payable	786.14	496.95	624.31	757.71	538.95	610.26
Accrued Expenses	2.74	144.05	179.34	157.27	143.24	126.53
Short-Term Debt	-	-	-	-	121.85	58.84
Current Portion of Leases	1.29	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	36.2	324.58	120.8	65.62	72.41	87.23
Total Current Liabilities	826.37	966.93	925.7	983.92	932.4	892.4
Long-Term Leases	2.78	3.37	4.72	5.91	9.06	10.92
Long-Term Deferred Tax Liabilities	129.5	84.86	186.15	271.55	131.02	92.23
Other Long-Term Liabilities	303.77	282.05	149.61	141.37	277.87	179.65
Total Liabilities	1,262	1,337	1,266	1,403	1,350	1,175
Common Stock	1,289	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	3,742	3,430	3,587	3,970	3,041	2,481
Shareholders' Equity	5,031	4,719	4,876	5,259	4,330	3,770
Total Liabilities & Equity	6,293	6,056	6,142	6,661	5,681	4,945
Total Debt	4.07	4.72	5.87	9.06	134.79	73.74
Net Cash (Debt)	1,587	1,152	1,428	1,647	1,134	898.39
Net Cash Growth	39.66%	-19.37%	-13.27%	45.24%	26.21%	298.93%
Net Cash Per Share	0.64	0.46	0.57	0.66	0.45	0.36
Filing Date Shares Outstanding	2,497	2,499	2,499	2,499	2,499	2,499
Total Common Shares Outstanding	2,497	2,499	2,499	2,499	2,499	2,499
Working Capital	4,079	3,773	3,956	4,199	3,578	3,287
Book Value Per Share	2.01	1.89	1.95	2.10	1.73	1.51
Tangible Book Value	5,016	4,702	4,855	5,233	4,301	3,736
Tangible Book Value Per Share	2.01	1.88	1.94	2.09	1.72	1.49
Machinery	-	4,565	4,562	4,456	4,241	4,073