Edgar Filing: GOLD FIELDS LTD

Page 1

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the month of May 2007
Commission File Number 1-31318

Gold Fields Limited

(Translation of registrant's name into English)

24 St. Andrews Rd.

Parktown, 2193

South Africa

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.

Form 20-F..x... Form 40-F.....

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ________

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): ________

Indicate by check mark whether by furnishing the information contained in this Form,
the registrant is also thereby furnishing the information to the Commission pursuant to
Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ..... No ..x...

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________

QUARTER ENDED
31 MARCH 2007

News release
Q3 F2007 results

- Unaudited -

we deliver

South Deep acquisition finalised,

equity raising successfully completed and

Western Areas hedge retired

JOHANNESBURG. 3 May 2007 – Gold Fields Limited (NYSE & JSE: GFI) today
announced net earnings excluding gains and losses on foreign exchange and
exceptional items for the March 2007 quarter of R512 million compared with R564
million in the December 2006 quarter and R397 million for the restated March
quarter of 2006. In US dollar terms net earnings excluding gains and losses on
foreign exchange and exceptional items for the March 2007 quarter were US$71
million compared with US$76 million in the December 2006 quarter and US$63
million for the restated March quarter of 2006.

March 2007 quarter salient features:

•

Acquisition of South Deep finalised as remaining Western Areas Limited shares
purchased;

•

Equity raising successfully completed with gross proceeds received of R10.3
billion (US$1.4 billion), used to retire debt of R8.8 billion (US$1.2 billion);

•

Western Areas hedge retired cost effectively in a rising gold price environment
by generating realised gains of US$21 million on the long gold delta position. A
further US$20 million of marked to market losses were avoided based on the
gold price as at the end of March of US$663 per ounce;

•

Attributable gold production 989,000 ounces at a cash cost of US$399 per
ounce.

Ian Cockerill, Chief Executive Officer of Gold Fields, said:

“This quarter has been extremely challenging for Gold Fields. All operations with
the exception of Driefontein showed a drop in production due to a combination of
lower grades, volume and a slow start up post the Christmas break in South Africa,
while Choco 10 continues to suffer as a result of water shortages. Unit cash costs
have risen as a result of lower production.

While the increase in the rand gold price achieved more than offset the lower
production resulting in a 3 per cent increase in revenue, we are very focused on
ensuring that our shareholders get the benefit of a higher gold price through
increased earnings. As a result we have instituted a Group wide effort focusing on
four key components of operational excellence, namely, safety and health, quality
gold production, unit cost control and improved productivity. Delivery on these
initiatives will see better performances from the operations in coming quarters.”

Stock data

JSE Limited – (GFI)

Number of shares in issue

Range - Quarter

ZAR117.00 – ZAR134.99

- at end March 2007

650,405,008

Average Volume - Quarter 3,302,577 shares / day

- average for the quarter

620,105,799

NYSE – (GFI)

Free Float

100%

Range - Quarter

US$15.85 – US$19.20

ADR Ratio

1:1

Average Volume - Quarter 2,207,431 shares / day

Bloomberg / Reuters

GFISJ / GFLJ.J

GOLD FIELDS RESULTS Q3F2007

H e a l t h a n d s a f e t y

We regret to report six fatal injuries during the March quarter
compared with three during the December quarter. All fatal
accidents occurred at the South African operations. The fatal injury
frequency rate for the March quarter was 0.15 per million man
hours worked, a regression on the previous quarter’s figure of 0.08.
The lost time injury frequency rate improved from 10.37 to 9.99, the
serious injury frequency rate improved from 5.4 to 5.1 and the days
lost frequency rate improved from 325 to 280 per million man hours
worked. All rates as from the March quarter include South Deep.

Management is continuing to actively seek improvements to meet
the Ontario safety standards and Mine Health and Safety Council
milestones on all of our mines. Behavioural based interventions
continue at all operations in the group. The South African
operations are currently being audited for OHSAS 18001
certification.

F i n a n c i a l r e v i e w

Quarter ended 31 March 2007 compared
with quarter ended 31 December 2006

Revenue

Attributable gold production decreased by 3 per cent from
1,015,000 ounces in the December 2006 quarter to 989,000
ounces in the March quarter. Attributable production at the South
African operations increased marginally from 652,000 ounces to
656,000 ounces. Attributable production at the international
operations decreased 8 per cent from 363,000 ounces to 333,000
ounces.

The increase in gold production at the South African operations
over the previous quarter was primarily due to the inclusion of a full
quarter’s production from South Deep. South Deep produced
66,000 attributable ounces compared with 24,500 attributable
ounces for the month of December - the effective date of
acquisition being 1 December 2006. Production at Driefontein
increased from 247,300 to 251,200 ounces as a result of a higher
yield. Gold production at Kloof decreased from 230,600 to 220,000
ounces on the back of a reduction in underground ore produced
due to the Christmas break and less surface material at payable
grades. The Christmas break in addition to a low mine call factor
affected Beatrix this quarter, with gold production declining from
149,500 to 119,200 ounces.

At the international operations, all mines reported lower gold
production compared with the December quarter. Gold production
at Tarkwa decreased due to lower grades at both the CIL and heap
leach operations. Damang’s gold production decreased as a result

of lower available high-grade fresh ore tonnages mined and
processed. At Choco 10 gold production reduced significantly as
previously indicated as a result of water shortages, which reduced
plant throughput and this will continue into the coming quarter. The
ongoing strategy of reducing reliance on rain water is continuing
through a number of initiatives which have not yet borne fruit. At St
Ives the decrease in gold production was as a result of reduced
fresh ore from the open pits, which increased the processing of
lower grade stockpiled Mars ore. At Agnew, gold production
decreased by over 10 per cent for the quarter as a result of a
reduction in underground grades. This was caused by dilution from
mining adjacent to the Kim fault.

The average quarterly US dollar gold price increased from US$609
per ounce in the December quarter to US$652 per ounce this
quarter, a 7 per cent increase. The average Rand/US dollar
exchange rate strengthened by 2 per cent quarter on quarter,
averaging R7.21, compared with R7.38 in the December quarter.
As a result of the above factors, the rand gold price increased from
R144,485 per kilogram to R151,184 per kilogram, a 5 per cent
improvement.

The increase in the rand gold price achieved more than offset the
lower production and resulted in revenue increasing in rand terms
from R4,854 million (US$658 million) to R4,994 million (US$693
million) quarter on quarter.

Operating costs

Operating costs for the March quarter, amounted to R3,165 million
(US$439 million) compared with R2,975 million (US$403 million) in
the December quarter, an increase of 6 per cent or R190 million.
The increase at the South African operations amounted to 12 per
cent or R217 million (US$35 million), from R1,795 million (US$244
million) to R2,012 million (US$279 million). Of the R217 million
(US$35 million) increase, R190 million (US$26 million) was due to
the inclusion of South Deep for the full quarter. The increase at the
remaining South African operations amounted to R27 million (US$9
million) or 1.5 per cent. Driefontein’s costs increased by R17
million (US$4 million) due to maintenance performed over the
Christmas closed period and the purchase of water from local
government due to the cessation of Driefontein’s water treatment
plant. Kloof’s costs increased by R14 million (US$4 million) due to
maintenance during the Christmas closed period and processing of
what proved to be a disappointingly low grade stockpile built up for
the Christmas break. Beatrix’s costs reduced by R4 million
(increased by US$1 million) due to lower volumes mined.

South African Rand

S a l i e n t f e a t u r e s

United States Dollars

Nine months to

Quarter

Nine months to

Restated˜

March

2006

March

2007

Restated˜

March

2006

Dec

2006

March

2007

March

2007

Dec

2006

Restated˜

March

2006

March

2007

Restated˜

March

2006

95,043

93,592

31,809

31,580

30,750 kg

Gold produced*

oz (000)

989

1,015

1,023

3,009

3,056

67,026

85,328

67,831

83,707

92,490 R/kg

Total cash costs

$/oz

399

353

344

367

326

36,715

39,349

12,738

13,109

13,382 000

Tons milled

000

13,382

13,109

1,273

39,349

36,715

100,887 145,882 109,500 144,485 151,184 R/kg

Revenue

$/oz

652

609

555

628

490

191

226

187

227

237 R/ton

Operating costs

$/ton

3,265

5,796

1,377

1,969

1,840 Rm

Operating profit

255

267

221

802

510

37 %

Operating margin

852

1,835

504

767

370 Rm

104

254

133

173

337

102

148

60 SA c.p.s.

Net earnings

US c.p.s.

812

1,682

467

762

228 Rm

103

233

127

164

309

147

37 SA c.p.s.

Headline earnings

US c.p.s.

762

1,810

397

564

512 Rm

250

119

154

333

108

83 SA c.p.s.

Net earnings

excluding gains and

losses on foreign

exchange and

exceptional items

US c.p.s.

* Attributable – All companies wholly owned except for Ghana (71.1%), Choco 10 (95%) and South Deep (98.85% compared with 91.95% at the end of December 2006)

˜ Change in accounting policy – Ore Reserve Development (ORD) costs are capitalised and amortised.

GOLD FIELDS RESULTS Q3F2007

Costs at the international operations, including gold-in-process
movements, amounted to R1,107 million (US$153 million),
compared with R1,112 million (US$151 million) incurred in the
December quarter. In dollar terms, including gold-in-process, costs
at Tarkwa increased by US$4 million as a result of the cost of on-
mine power generation in line with the national load shedding
requirements, and price increases in consumables, especially
cyanide. At Damang, costs were similar quarter on quarter with the
additional power costs offset by the lower mining volumes.
Operating costs at Choco 10 decreased by US$4 million due to the
gold-in-process credit as ore which could not be processed due to
the lack of water to run the plant, was stockpiled and due to a build-
up of 5,000 ounces of gold in circuit at quarter end. At St Ives,
costs in Australian dollar terms including gold-in-process were
similar, as the cost impact of lower volumes mined and processed
were offset by a gold-in-process release. Agnew reported slightly
increased costs mainly due to a power credit received in the
December quarter.

Effect of capitalising Ore Reserve Development (ORD)
on unit costs

Ore Reserve Development has been capitalised in the March 2007
and December 2006 quarter’s results and retrospectively in the
comparative results in this report. This brings its accounting
treatment in line with our peers and is the preferred methodology
for accounting for ORD in the industry. The impact of the
capitalisation is given in the tables at the bottom of page 16 and
page 21.

Operating margin

The net effect of the changes in revenue and costs, after taking into
account gold-in-process movements, was an operating profit of
R1,840 million (US$255 million). This was 7 per cent below the
R1,969 million (US$267 million) achieved in the December quarter.
The Group operating margin reduced from 41 per cent to 37 per
cent. The margin at the South African operations decreased from
39 per cent to 35 per cent, while the margin at the international
operations decreased from 43 per cent to 41 per cent. The
decrease in the margin was driven by the inclusion of South Deep,
with a margin of 3 per cent, the operating loss at Choco 10 and the
lower production.

Amortisation

Amortisation decreased from R745 million (US$101 million) in the
December quarter to R704 million (US$98 million) in the March
quarter. The decrease at the International operations of R25
million (US$2 million) resulted from the lower production at Choco
10 and Agnew. At the South African operations amortisation
decreased by R37 million (US$4 million) in line with the lower
production and development rates, partially offset by the inclusion
of South Deep’s amortisation for the full quarter.

Other

Net interest paid increased from R27 million (US$4 million) in the
December quarter to R112 million (US$15 million) in the March
quarter. This change reflects additional interest paid of R34 million
(US$5 million) on a loan to finance the South Deep acquisition and
R33 million (US$5 million) interest paid on a loan of US$528 million
borrowed to close out the Western Areas gold derivative.

The loss on foreign exchange of R380 million (US$53 million),
compares with a gain of R264 million (US$36 million) in the
December quarter. The March quarter’s loss consists largely of an
exchange loss of R266 million (US$37 million) on the US$1.2 billion
loan raised to finance the acquisition of 50 per cent of the South
Deep mine. This compares with a gain of R224 million (US$30
million) in the December quarter on the same loan, resulting in a
net R42 million (US$6 million) exchange loss on the loan since its
drawdown on 1 December 2006.

Also included in the R380 million (US$53 million) loss in the current
quarter was an exchange loss on the close out of the Western
Areas gold derivative amounting to R175 million (US$24 million).
This derivative was settled at an exchange rate of R7.30 to the US
dollar, compared with R6.98 to the US dollar at the beginning of the
quarter, resulting in the aforesaid exchange loss of R175 million
(US$24 million). Also included was a R53 million (US$7 million)
exchange gain on the US$528 million loan raised to finance the

close out the Western Areas gold derivative, offset by the negative
marked to market movement of R13 million (US$ 2 million) on a
foreign exchange contract taken out to hedge this loan. Finally an
unrealised exchange gain of R16 million (US$2 million) was
incurred relating to a US dollar denominated insurance receivable
at South Deep.

The loss on financial instruments increased from R19 million (US$3
million) to R35 million (US$5 million) for the March quarter. The
March quarter’s loss included a loss of R105 million (US$14 million)
on the Western Areas gold derivative compared with a loss of R44
million (US$6 million) in the December quarter. This loss resulted
from an increase in the spot gold price from US$634.22 per ounce
at the beginning of the quarter to US$643.00 per ounce at the close
out date, as well as the costs associated with the market spread at
close out resulting in the marked to market value of the gold
derivative increasing from US$540 million at the beginning of the
quarter to US$549 million at the close out date. The March
quarter’s loss also included a loss of R115 million (US$16 million)
on a forward exchange contract taken out to part settle the US$1.2
billion loan to finance the South Deep acquisition. This was
partially offset by marked to market gains on share warrants of R38
million (US$5 million), a gain of R133 million (US$18 million) on
gold purchases effected by Western Areas as part of the gold
derivative close out process and a gain of R14 million (US$2
million) on the close out of a US dollar / Rand forward purchase.

The R133 million (US$18 million) gain on gold purchases effected
by Western Areas for the quarter was made on the accumulated
delta purchase of 1,005,000 ounces, which includes the 275,000
ounces purchased in December 2006, together with 730,000
ounces purchased in the March quarter at a price of US$618.95 per
ounce. The total delta purchase of 1,005,000 ounces since date of
acquisition was at an average gold price of US$622.14 per ounce
and was subsequently sold at a gold price of US$643.00 on 24
January 2007. This resulted in a net gain since inception of R151
million (US$21 million).

The net effect of the Western Areas gold derivative since date of
acquisition, 1 December 2006, was a realised loss of R149 million
(US$20 million). This resulted from an increase from US$539
million, being the take-on marked to market valuation at a gold
price of US$631.75 per ounce, compared with the close out
payment of US$549 million net of scheduled maturities of US$10
million, at a gold price of US$643.00 per ounce.

The net effect of the various transactions accounted for under the
loss on foreign exchange and under the loss on financial
instruments as they relate to the US$1.2 billion loan was a net
exchange loss of R163 million (US$23 million). This exchange
difference arises as a consequence of raising the loan at an
exchange rate of R7.16 to the US dollar on 1 December 2006 and
settling the same liability on 8 February 2007 at a weighted
average exchange rate of R7.30 to the US dollar.

Close out of Western Areas gold derivative structure

Hedge

US$m

Delta

US$m

Net

position

US$m

December

MtM* at take on

(539)

December maturity

MtM loss for the quarter

(6)

Profit on Delta

MtM at quarter end

(540)

(537)

March quarter

MtM beginning of quarter

(540)

(537)

January maturity

Realised (loss)/gain on close-out

(14)

Close-out

(549)

(528)

* MtM - Marked to market.

GOLD FIELDS RESULTS Q3F2007

Exploration

Exploration expenditure increased from R65 million (US$9 million)
in the December quarter to R76 million (US$11 million) in the
March quarter. Please refer to the Exploration and Corporate
Development section for more detail.

Exceptional items

This quarter saw an increase in exceptional items from R8 million
(US$1 million) to R192 million (US$27 million) and includes a profit
on the sale of shares in Avoca of R123 million (US$17 million),
profit on the sale of the Bibiani project of R43 million (US$6 million)
and the sale of other sundry investments.

Taxation

Taxation for the quarter amounted to R262 million (US$36 million)
compared with R480 million (US$65 million) in the December
quarter. The tax provision includes normal and deferred taxation
on all operations together with government royalties at the
international operations.

Earnings

Net profit attributable to ordinary shareholders amounted to R370
million (US$52 million) or 60 SA cents per share (US$0.08 per
share), compared with R767 million (US$104 million) or 148 SA
cents per share (US$0.20 per share) in the previous quarter.

Headline earnings i.e. earnings less the after tax effect of asset
sales, impairments and the sale of investments, was R228 million
(US$32 million) or 37 SA cents per share (US$0.05 per share),
compared with earnings of R762 million (US$103 million) or 147 SA
cents per share (US$0.20 per share) last quarter.

Earnings excluding exceptional items as well as net gains and
losses on foreign exchange amounted to R512 million (US$71
million) or 83 SA cents per share (US$0.11 per share), compared
with earnings of R564 million (US$76 million) or 108 SA cents per
share (US$0.15 per share) reported last quarter.

Cash flow

Cash outflow from operating activities for the quarter was R2,615
million (US$359 million), compared with an inflow in the December
quarter of R1,381 million (US$190 million). This quarter on quarter
decrease of R3,996 million (US$549 million) comprises a decrease
of R807 million (US$107 million) in profit before tax and exceptional
items, the settlement of the Western Areas gold derivative of
R3,894 million (US$534 million), and additional tax payments of
R92 million (US$19 million), mainly at the South African operations.
This was partially offset by a reduced investment in working capital
quarter on quarter and a change in non-cash items of R464 million
(US$64 million). The change in non-cash items is mainly a quarter
on quarter movement on the hedge up until close-out together with
an exchange loss on loans. The investment in working capital
decreased from R321 million (US$44 million) to R132 million
(US$18 million). The increase in working capital for the quarter of
R132 million was mainly due to an increase in gold inventory of
R63 million (US$9 million) and an increase in gold debtors.

Dividends paid during the quarter amounted to R586 million
(US$81 million). No dividends were paid in the December quarter.

Capital expenditure amounted to R1,341 million (US$186 million)
similar to the R1,376 million (US$187 million) in the December
quarter. At the South African operations capital expenditure
increased from R565 million (US$77 million) in the December
quarter to R591 million (US$82 million) in the March quarter. The
increase was due to the inclusion of South Deep which increased
from R41 million (US$6 million) to R79 million (US$11 million). The
majority of this expenditure was incurred on the initial stages of the
94 level refrigeration plant (R12 million), the ventilation shaft
equipping and deepening (R23 million) and ore reserve
development. At the other South African operations the main areas
of capital expenditure during the quarter were ore reserve
development at Driefontein, Kloof and Beatrix of R80 million
(US$11 million), R96 million (US$13 million) and R66 million (US$9
million) respectively, together with the other major projects. At
Driefontein expenditure at the 1 and 5 shaft complex amounted to
R14 million (US$2 million), R4 million (US$1 million) was incurred
on the 4 shaft pillar extraction project and R38 million (US$5

million) was incurred on the 9 shaft deepening project. At Kloof,
expenditure on the 4 sub-vertical shaft amounted to R19 million
(US$3 million) for the quarter, R11 million (US$2 million) was
incurred on the 1 shaft pillar extraction project and R16 million
(US$2 million) was incurred on the KEA drop down project. At
Beatrix, expenditure on the 3 shaft project amounted to R34 million
(US$5 million) and R7 million (US$1 million) was incurred on
development of the North Block at West shaft.

At the Ghanaian operations, capital expenditure at Tarkwa
decreased from R189 million (US$26 million) to R152 million
(US$21 million) quarter on quarter. Capital expenditure continued
on capital waste mining at the Teberebie cutback (US$5 million),
progress on the joint power project (US$5 million), on the CIL
expansion project (US$3 million) and expansion of the secondary
fleet (US$3 million). Damang increased its capital investment to
R65 million (US$9 million) from R53 million (US$7 million) with the
majority of this expenditure at the Damang cutback (US$6 million)
and the raising of the tailings storage facility embankments (US$2
million).

At Choco 10 capital expenditure decreased from R38 million (US$5
million) to R17 million (US$2 million) as exploration drilling and
other projects were deferred where possible as a result of lower
production and reduced cash flow from the project.

In Australia capital expenditure at St Ives increased from R126
million (A$22 million) to R148 million (A$26 million) due to
increased development costs. At Agnew, capital expenditure
decreased from R56 million (A$10 million) to R33 million (A$6
million), the decrease as a result of the completion of capital
expenditure on the current Songvang pit shell which amounted to
R23 million (A$4 million) in the December quarter. The majority of
the balance was expenditure on development and exploration.

Capital expenditure at the Cerro Corona mine in Peru amounted to
R335 million (US$46 million) in the March quarter compared with
R341 million (US$46 million) in the December quarter.

Purchase of investments for the quarter amounted to R350 million
(US$48 million) and included R296 million (US$41 million) on the
purchase of Sino Gold shares, R16 million (US$2 million) on the
purchase of CMQ Resources shares and R32 million (US$4 million)
on the purchase of an unlisted subsidiary in South Africa.

Proceeds on the sale of investments amounted to R306 million
(US$42 million) and included R147 million (US$20 million) from the
sale of shares in Avoca Resources, R41 million (US$6 million) from
the sale of the Bibiani project, R14 million (US$2 million) from the
sale of shares in TLC Ventures and R100 million (US$14 million)
from the sale of shares in Comaplex.

The net cash flow from financing activities amounted to R5.5 billion
(US$756 million). Net proceeds from the capital raising amounted
to R10.1 billion (US$1.4 billion). Loans received amounted to R4.4
billion (US$609 million) and consisted of R4.0 billion (US$551
million) borrowed to close out the Western Areas gold derivative
and repay a short-term borrowing from Standard Bank. R180
million (US$25 million) was drawn down on the facility to finance
the Cerro Corona project, R169 million (US$23 million) was
borrowed by Western Areas as a short-term loan and R72 million
(US$10 million) was drawn down on a three year term facility.

Loans repaid amounted to R9,036 million (US$1,250 million) and
included R8,702 million paid to close out the US$1.2 billion
borrowed to finance the purchase of 50 per cent of South Deep,
R165 million (US$25 million) on the half yearly Mvelaphanda loan
repayment and R169 million (US$25 million) to repay the Western
Areas short-term facility with Standard Bank.

Net cash inflow for the quarter was R880 million (US$117 million).
After accounting for a translation gain of R35 million (US$4 million),
the cash balance at the end of March was R2,328 million (US$323
million). The cash balance at the end of December was R1,413
million (US$202 million).

GOLD FIELDS RESULTS Q3F2007

D e t a i l e d a n d o p e r a t i o n a l
r e v i e w

Cost and revenue optimisation initiatives

Project 500

Project 500 was initiated at the South African operations in
September 2003 to increase revenue and reduce costs through two
sub-projects i.e. Project 400 and Project 100. These projects have
proved successful and led to additional projects, Project 100+ and
Project Beyond as detailed below.

Project 400

Project 400 was aimed at improving revenue such that an
additional R400 million (US$55 million) per annum could be
generated on a sustainable basis. This was to be achieved through
a basket of productivity initiatives; by eliminating non-contributing
production and replacing low-grade surface material with higher
margin underground material - all aimed at improved quality
volumes. Operational Excellence, a change programme, was
initiated in April 2005 to create the required skills, behaviour and
environment to improve efficiencies. The objective of these
initiatives is to increase mining volumes whilst maintaining yields as
close as possible to life of mine reserve yields.

Reconciliation of achieved yields to gold reserves

Quarter ended

F2005 F2006*

Dec

2006*

March

2007*

Driefontein:

Life of mine head grade as per
published declarations

8.1

8.0

8.0

Life of mine head grade adjusted
for estimated metallurgical
recoveries

7.8

7.8

Driefontein (underground yields
achieved)

8.3

8.1

7.5

7.6

Kloof:

Life of mine head grade as per
published declarations

10.5

10.0

10.0

Life of mine head grade adjusted
for estimated metallurgical
recoveries**

10.2

9.7

9.7

Kloof (underground yields
achieved)

9.1

8.7

7.8

8.0

Beatrix:

Life of mine head grade as per
published declarations

5.5

5.5

Life of mine head grade adjusted
for estimated metallurgical
recoveries

5.3

5.3

Beatrix (underground yields
achieved)

5.0

5.2

5.0

4.6

South Deep

Life of mine head grade as per
published declarations

6.1

6.1

Life of mine head grade adjusted
for estimated metallurgical
recoveries

5.9

5.9

South Deep (underground yields
achieved)

7.7

6.1

* Based on reserve statement at 31 December 2005.
** Kloof’s life of mine head grade as adjusted for estimated metallurgical

recoveries, is higher than that currently achieved due to the high grade
main shaft pillar, limited mining of which only commenced recently.

The acquisition of South Deep is effective from 1 December 2006.
Based on the reserve statement as at 30 June 2006.

Project 100+

Following a solid base, Project 100+ remains a dedicated focus for
ongoing cost reduction through eliminating inefficiencies and
ongoing investment in cost reductions.

The Eskom demand side management (DSM) projects are
progressing well and during the quarter, five new projects involving
water control, thermal ice storage, ventilation fan control,
compressed air control and energy efficient lighting were approved,
and a further four are expected in June quarter. These projects,
which are funded by Eskom, collectively shift 50 megawatt of load
out of the peak tariff period resulting in an annual saving of more
than R3 million by financial 2009. The estimated Eskom DSM

savings for financial 2007 will exceed R5 million, growing to R12
million in financial 2008 and R20 million by financial 2009.

The conversion from diesel to battery power for underground
locomotives is progressing to plan with the manufacture of
locomotives underway and the preparation of battery charging bays
and the training of personnel. The project will deliver long term
cost savings due to the lower operating cost and higher efficiency
of battery locomotives, and has an added benefit in improved
underground environmental conditions. An underground rail track
up-grade project has commenced.

The Pump Efficiency Monitoring project has entered a monitoring
phase, and this will allow maintenance practices to be modified to
initiate maintenance based on pump efficiency. This will deliver
savings in financial 2008 due to pumps operating at higher
efficiency, and due to lower pump repair costs.

Project Beyond

Despite some softening in rise and fall contracts (e.g. diesel,
copper and beef), inflationary pressures continue unabated, with
input costs from steel, timber, cyanide, labour hire and cement
continuing to rise. Increasing oil prices, continued global demand
growth in resources, shortages in food categories such as maize
and Mittal steel communicating price increases for April, are
expected to continue cost pressures over the coming quarters.

During the March quarter a further estimated annualised R24
million contracted benefit was achieved. The bulk of this benefit
was delivered in the form of added margin due to optimisation of
explosives of around R19 million, measured against a historical
performance base and the balance of around R5 million came from
improved traction motor specification and contract changes to
reduce total repair costs. The cumulative financial year to date
South Africa contracted benefit is now at R85 million.

Strategic value was delivered through developing a performance-
aligned arrangement for underground support and will be finalised
and rolled out during the June quarter. Improving procurement
support to capital projects and completing a South Deep spend
analysis also received focus.

During the June quarter continued focus will be on the rollout of the
explosives performance contract, drillsteel wastage controls and
engineering total cost projects. Analysing, planning and initiating
South Deep spend synergies and opportunities will also be looked
at.

Global / International Supply Chain and Strategic
Sourcing Optimisation

Global integrated supply chain initiatives continued, delivering total
cost benefits of around US$2 million across various competitive
tendering and strategic partnering initiatives, largely through
contributions from Australia (i.e. electric cables, ground support,
survey supplies, stationary and cement rebates) with some
contribution from Ghana (i.e. increased diesel rebate benefits).

A further multi-year benefits case was delivered in the form of
planning and initiating the development of a local earth moving tyre
retread facility at the Tarkwa operation through a partnership
arrangement. Following the building and commissioning of the
retread facility during 2007, cost benefits are estimated at a
conservative US$3 million per annum, excluding the production
benefit of ensuring fleet uptime and excluding saving that can be
achieved at Damang. The International cumulative financial year to
date contracted benefit, including the tyres post 2007, stands at an
annualised US$12 million.

Strategic value was delivered through developing long-term global
strategic partnering arrangements for the supply of earth moving
tyres, establishing a risk and reward alliance model for the delivery
of the Ghana CIL plant expansion project and good progress was
made on the structuring of the outbound concentrate logistics
model in Peru.

For the June quarter priority will be to conclude the Peru outbound
concentrate logistics model, optimise inbound supply chain logistics
and economies in Venezuela, validate continuous improvement

GOLD FIELDS RESULTS Q3F2007

opportunities in Australia and contract optimisation priorities related
to South American procurement.

South African Operations

Driefontein

March

2007

December

2006

Gold produced

- kg

7,814

7,692

- 000’ozs

251.2

247.3

Yield - underground

- g/t

7.6

7.5

combined - g/t

4.8

4.6

Total cash costs

- R/kg

82,506

81,721

- US$/oz

356

344

Gold production increased by 2 per cent from 247,300 ounces in
the December quarter to 251,200 ounces in the March quarter,
which was higher than forecast.

Underground tonnage decreased marginally from 937,000 tons in
the December quarter to 930,000 tons in the March quarter, with a
concomitant improvement in yield from 7.5 to 7.6 grams per ton.
Surface tonnage decreased from 736,000 tons in the December
quarter to 704,000 tons in the March quarter in order to maintain
yields.

Operating costs increased by 2 per cent from R661 million (US$90
million) to R677 million (US$94 million) due to maintenance
performed during the Christmas closure period, the premium being
paid for scarce skills and the cessation of the Driefontein water
treatment plant, which necessitated the purchase of water from
local government. Total cash costs increased by 1 per cent in rand
terms from R81,721 to R82,506 per kilogram. In US dollar terms,
total cash costs increased 3 per cent from US$344 to US$356 per
ounce.

Operating profit increased by 13 per cent from R450 million (US$61
million) in the December quarter to R510 million (US$71 million) in
the March quarter due to the higher gold production and the higher
rand gold price.

Capital expenditure increased from R177 million (US$24 million) to
R196 million (US$27 million). The major portion of this expenditure
was spent on the 1, 5 and 9 shaft projects. The 9 shaft project is
still in the advanced design phase and tenders for shaft sinking are
being adjudicated. Shaft sinking should commence as planned by
October 2007.

Gold production for the June quarter is forecast to be similar to the
March quarter. As a consequence unit costs are expected to
remain flat.

Kloof

March

2007

December

2006

Gold produced

- kg

6,843

7,172

- 000’ozs

220.0

230.6

Yield - underground

- g/t

8.0

7.8

combined - g/t

7.4

7.3

Total cash costs

- R/kg

90,180

84,021

- US$/oz

389

354

Gold production at Kloof decreased, from 230,600 ounces in the
December quarter to 220,000 ounces in the March quarter. This
was as a result of a decrease in ore processed from 986,000 to
920,000 tons, partially offset by an increase in yield. The lower
tonnage was due to lower volumes processed over the Christmas
break, a slow start-up in January and an incident relating to an
Eskom power outage. Also lower volumes were mined as we move
into lower grade slope reef areas. Despite this, underground
grades increased mainly due to an improved mine call factor.
Surface tons milled reduced by 25 per cent due to lower than

expected grades which in turn marginally improved the combined
yield.

The operating costs at R644 million (US$89 million) for the quarter
increased by 2 per cent compared with the previous quarter’s cost
of R629 million (US$85 million). This was mainly due to the
carrying cost of processing 56,000 tons of stockpiled material and
shaft infrastructure maintenance over the Christmas break. As a
result of the lower gold production and increased cost, the total
cash cost increased by 7 per cent to R90,180 per kilogram,
compared with the R84,021 per kilogram in the December quarter.
In US dollar terms total cash costs increased by 10 per cent from
US$354 to US$389 per ounce. Operating profit was marginally
lower at R390 million (US$54 million) for the March quarter,
compared with R407 million (US$55 million) the previous quarter.

Capital expenditure was virtually unchanged at R193 million
(US$27 million) and includes expenditure on the KEA drop-down
project.

Gold production for the June quarter is forecast marginally higher
than the March quarter, with a resultant decrease in total cash
costs.

Beatrix

March

2007

December

2006

Gold produced

- kg

3,708

4,650

- 000’ozs

119.2

149.5

Yield - underground

- g/t

4.6

5.0

Total cash costs

- R/kg

99,434

80,237

- US$/oz

429

338

Gold production at Beatrix reduced from 149,500 ounces in the
December quarter to 119,200 ounces in the March quarter. Tons
milled reduced from 935,000 to 807,000 tons in the March quarter
primarily due to limited stockpiles at the beginning of the Christmas
break, and a slow build-up to historical production levels. The yield
also regressed from 5.0 to 4.6 grams per ton as a result of a short-
term decline in mine call factor.

Operating costs quarter on quarter decreased by 1 per cent, from
R392 million (US$53 million) to R388 million (US$54 million). The
decrease in operating cost was mainly due to the lower production
and continued cost control offset by increased material prices.
Total cash costs increased from R80,237 per kilogram (US$338 per
ounce) in the December quarter to R99,434 per kilogram (US$429
per ounce) in the March quarter, due to the decrease in gold
production. Beatrix posted an operating profit of R175 million
(US$24 million) for the quarter compared with R275 million (US$37
million) in the December quarter.

Capital expenditure amounted to R124 million (US$17 million) in
the March quarter and includes R66 million (US$9 million) for ore
reserve development and R35 million (US$5 million) on the 3 shaft
project.

Gold production is forecast to increase to 140,000 ounces in the
June quarter, with an accompanying reduction in cash costs.

GOLD FIELDS RESULTS Q3F2007

South Deep

March

2007

December

2006

Gold produced

- kg

2,075

838

- 000’ozs

66.7

26.9

Gold sold

- kg

2,321

682

- 000’ozs

74.6

21.9

Yield - underground

- g/t

6.1

7.7

combined - g/t

4.3

4.6

Total cash costs

- R/kg

141,017

133,724

- US$/oz

608

564

At South Deep gold produced increased from 26,900 to 66,700
ounces. The increase in gold produced together with the other
variances are mainly due to the December quarter’s results
reflecting only a month’s production, as the effective date of
acquisition was 1 December 2006. This compares with a full
quarter’s results for the March quarter. South Deep also aligned
itself with the Gold Fields quarter close timetable which effectively
reduced the quarter by seven mining shifts.

Total cash costs increased from R133,724 to R141,017 per
kilogram for the March quarter due to the inclusion of R35 million
(US$5 million) gold inventory charge from the sale of 246 kilograms
held over from the previous quarter at a cost of R142,300 per
kilogram and development and insurance costs, totaling an
additional R15 million (US$2 million). The operating profit
increased from R6 million (US$1 million) to R11 million (US$2
million) quarter on quarter.

The Main shaft at the Twins complex was re-commissioned by mid-
January 2007, and hoisting operations were restored following the
shaft accident of 4 May 2006. The re-commissioning of the Twin
shaft complex necessitated a logistics re-organisation by moving
people and ore flow away from the South shaft complex which did
affect the production build-up. Staffing in the trackless section of
the mine has been problematic where high turnover rates are being
experienced. The labour market for these skills in South Africa is
highly competitive and adjustments will be made to retain such
staff.

Milled tonnage increased from 184,000 tons to 483,000 tons.
Underground volumes tripled to 309,000 tons and the balance was
made up of surface stockpiles.

Underground yields were marginally lower than anticipated at 6.1
grams per ton due to higher than forecast mining volumes from the
marginal 1 West corridor.

Capital expenditure for the quarter amounted to R78 million (US$11
million) and includes the Twin shaft ventilation deepening project,
which has progressed well during the quarter, being on time and
well within budget. The 94 level refrigeration project is lagging due
to civil engineering skills shortages experienced by the contractor.
This bottleneck has since been addressed. The below 95 level
capital development project will be presented for Board approval
during the quarter and the award and mobilisation is anticipated to
commence in the early part of the September quarter.

Increased mining volumes are being experienced in the June
quarter, with operational focus on commissioning the 95 1 west
workshop which will mark the commencement of the Long Hole
Stoping programme. This programme once fully operational will
provide an additional 150,000 tons per quarter of marginal Elsburg
ore, which will supplement the current ore production. As
previously forecast, this level of production should be achieved by
the end of the June quarter. In light of this, gold production, is
anticipated to reach above 70,000 ounces in the June quarter at a
marginally reduced cost.

The integration of South Deep into Gold Fields is well advanced,
with various projects underway to exploit identified synergies. The
priority is the adoption of the Gold Fields commercial service
division as the primary service provider.

International Operations

Ghana
Tarkwa

March

2007

December

2006

Gold produced

- 000’ozs

174.3

178.8

Yield - Heap leach

- g/t

0.7

0.8

CIL

plant - g/t

1.4

1.6

Combined - g/t

0.9

1.0

Total cash costs

- US$/oz

356

323

For the quarter Tarkwa processed 5.89 million tons and produced
174,300 ounces of gold at an average yield of 0.9 grams per ton.
This compares with 5.59 million tons processed producing 178,800
ounces at a yield of 1.0 gram per ton in the December quarter. The
yield from the CIL reduced from 1.6 grams per ton in December
quarter to 1.4 grams per ton in March quarter, whilst Heap Leach
yield decreased from 0.8 to 0.7 grams per ton. The decrease was
due to lower grade tons treated from mining and from stockpiles.
Both heap leach and CIL tonnages treated increased in the March
quarter.

Total tons mined, including capital stripping, increased from 26.0
million tons in the December quarter to 28.7 million tons for the
March quarter. Ore tons moved for the March quarter at 5.65
million tons compared with 5.23 million tons in the December
quarter. The overall strip ratio for the quarter was 4.09, marginally
higher than the 3.96 in the December quarter.

Total feed to the heap leach sections was 4.38 million tons at a
head grade of 1.0 gram per ton compared with 4.24 million tons at
a head grade of 1.13 grams per ton for the December quarter. The
lower head grade was due to the lower grade pits mined during this
quarter and treatment of low grade stockpiles additional to the run
of mine. There was a net gold-in-process decrease of 1,100
ounces. Overall, the heap leach sections produced 103,700
ounces for the quarter compared with the 110,500 ounces achieved
in December.

The total feed to the CIL plant was higher than the previous quarter
at a record 1.52 million tons versus the previous quarters 1.35
million tons. The CIL plant produced 70,600 ounces in the March
quarter compared with 68,300 ounces in the December quarter.

Operating costs, including gold-in-process adjustments, at US$62
million (R446 million) were US$4 million higher than the previous
quarter and reflect a US$2 million increase in power costs
equivalent to US$11 per ounce, a US$1 million increase in gold-in-
process adjustment and a US$1 million increase in consumables,
especially cyanide and fuel costs, which added a further US$10 per
ounce.

Operating cost per ton processed was US$11.96 as against
US$11.02 in the December quarter. Total cash costs at US$356
per ounce compared with the December quarter’s US$323 per
ounce. This increase in the cash cost was primarily because of the
impact of the higher power cost compounded by the lower gold
output.

Operating profit at US$52 million (R371 million) was similar to the
December quarter, with the higher gold price offsetting the
increased cost and lower gold production.

Capital expenditure was US$21 million (R152 million) for the
quarter compared with US$26 million (R189 million) in the
December quarter. The main areas of capital expenditure were
capital waste mining on the Teberebie cutback, expenditure on
initial work carried out on the CIL expansion project and
expenditure on the joint power project.

Gold production for the June quarter is expected to be marginally
lower than the current quarter and unit costs will remain under
pressure on the back of the continued cost of on-mine power
generation.

GOLD FIELDS RESULTS Q3F2007

Damang

March

2007

December

2006

Gold produced

- 000’ozs

48.5

51.6

Yield

- g/t

1.1

1.2

Total cash costs

- US$/oz

454

447

Gold production for the March quarter was 48,500 ounces, which
was 6 per cent down on the December quarter’s 51,600 ounces.
This was due to a decrease in high-grade fresh ore tonnages
mined and processed, which in turn increased the volume of lower
grade B3 stockpile material that was fed to the plant. The decrease
in high-grade fresh tons mined was due to mining less tons from
the nearly depleted J2SW pit and the high strip ratio areas mined at
the Damang pit cutback.

The mill throughput for the quarter was 1.38 million tons, 4 per cent
up on last quarter’s 1.33 million tons processed. This increase was
due to good fragmentation of the material treated.

Total tons mined, including capital stripping, was 8.1 million tons
compared with 8.3 million tons in the previous quarter. Ore mined
was 811,000 tons compared with 856,000 tons during the previous
quarter. The average mined grade decreased from 1.41 to 1.28
grams per ton. This decrease was due to the reduction in high-
grade fresh ore mined. The overall strip ratio increased to 9.04,
from 8.67 the previous quarter.

Operating costs, including gold-in-process movements were in line
with the previous quarter. The cost per ton milled was US$16.11
as against US$16.98 in the December quarter. Total cash costs
increased from US$447 per ounce to US$454 per ounce due to the
lower gold output. Operating profit for the quarter at US$9 million
(R65 million) was similar to the December quarter.

Capital expenditure for the quarter amounted to US$9 million (R65
million) compared with US$7 million (R53 million) in the December
quarter. The majority of this expenditure was incurred in mining the
Damang pit-cutback and the raising of tailings storage facility
embankments. Construction of a seventh CIL tank to increase the
metallurgical recovery progressed during the quarter, with civil
works for the foundation completed. The project is expected to be
commissioned during the second quarter of financial 2008.

Gold production is expected to be slightly lower in the June quarter.
Cost pressures will continue as a result of the continued cost of on-
mine power generation.

Venezuela
Choco 10

March

2007

December

2006

Gold produced

- 000’ozs

8.2

22.8

Yield

- g/t

1.3

2.0

Total cash costs

- US$/oz

575

426

Gold production for the quarter decreased from 22,800 ounces to
8,200 ounces as a consequence of insufficient water to operate the
plant at full capacity. The mining operations focused on additional
waste mining in preparation for future ore requirements resulting in
lower grade areas and stockpiles being milled.

Total mill throughput for the quarter decreased from 357,000 tons
to 191,000 tons due to the water shortages. This problem was the
most severe during the months of February and March, when 457
and 454 operating hours were lost respectively. Encouragingly
when water was available, there were periods when the mill
throughput rates were slightly above nameplate capacity.

Mining continued in the Pisolita, Coacia and the Rosika open pits
during the quarter, with total material mined of 1.7 million tons
versus 1.4 million tons in the December quarter. Ore mined
reduced from 347,000 tons in the previous quarter to 194,000 tons

in the March quarter with an increased focus on waste mining
during the period of reduced milling operations. Overall mining
quantities were lower than plan mainly as a result of lower than
expected machinery availability. The grade mined for the quarter
was 1.6 grams per ton compared with 1.9 grams per ton last
quarter.

Operating costs, including gold-in-process movements, amounted
to US$6 million (R45 million) compared with US$11 million (R78
million) last quarter, in line with the decrease in production. Total
cash costs increased from US$426 per ounce to US$575 per
ounce driven by the low level of production. An operating loss of
US$1 million (R6 million) was realised compared with a profit of
US$3 million (R23 million) in the December quarter.

At the end of the quarter there was still no water in the mine’s main
reservoir. The permitting process to extract water from the Yuruari
River is still ongoing. The water exploration programme was
significantly advanced during the quarter, resulting in five boreholes
being installed to provide water; although this still does not
represent the mine’s full requirements. Two additional targets from
the original programme remain to be tested and this work is
planned for the June quarter. Discussions with various external
parties are continuing to finalise the complex permitting process,
but progress is slow. Work is continuing on other internal and
external water supply and management projects.

Capital expenditure amounted to US$2 million (R17 million) for the
quarter compared with US$5 million (R38 million) in the December
quarter. The resource definition exploration programme on Choco
10 continued to return numerous significant intersects during the
quarter, defining high-grade extensions to mineralisation along
strike and down-dip at the VBK deposit.

Gold production for the June quarter is expected to be similar to the
March quarter unless an improvement in the mine’s water supply
situation improves.

Collective bargaining with the union representing the workers
commenced during the March quarter and is ongoing.

Australia
St Ives

March

2007

December

2006

Gold produced

- 000’ozs

119.4

124.6

Yield - Heap leach

- g/t

0.5

0.5

Milling

- g/t

2.9

3.1

Combined - g/t

2.1

2.2

Total cash costs

- A$/oz

511

493

- US$/oz

401

378

Gold production for the quarter was 119,400 ounces, 4 per cent
down on the last quarter’s 124,600 ounces. The reduction was
primarily due to the Lefroy mill processing lower grade stockpiled
Mars ore and reduced fresh ore tons available from the open pits,
due to the closure of Thunderer and West Revenge pits. Open pit
and underground ores were stockpiled at the end of the quarter due
to maintenance to the Lefroy mill primary crusher. The quarter’s
gold production from the Lefroy mill was 110,700 ounces compared
with 117,000 ounces previously. The increase in heap leach
production from 7,600 ounces in the December quarter to 8,700
ounces this quarter was a result of on-going recovery of gold from
slow leaching Mars ore stacked previously.

During the quarter 2.39 million bank cubic metres (BCM’s) of ore
and waste were mined from the open pit operations compared with
2.37 million BCM in the previous quarter. The average strip ratio
increased to 8.5 compared with 4.7 previously with the
commencement of the North Revenge pit and on-going
development of the Bahama pit. Open pit operations produced 0.7
million tons of ore for the quarter compared with 1.0 million tons for
the previous quarter. The open pit ore grade was maintained at 2.3
grams per ton. The majority of ore was mined from the Thunderer

GOLD FIELDS RESULTS Q3F2007

and Delta North pits, although the North Revenge and the
Leviathan pits contributed to production at the end of the quarter.

Underground operations produced 317,000 tons of ore at 5.5
grams per ton for the quarter compared with 341,100 tons at 5.2
grams per ton in the previous quarter. The majority of this
decrease was from a reduction at Leviathan which mined 178,000
tons at 5.3 grams per ton this quarter compared with 209,000 tons
at 5.1 grams per ton.

Operating costs, including gold-in-process movements, increased
to A$63 million (R358 million) from A$62 million (R348 million) in
the previous quarter, reflecting lower direct mining costs in the
open pits which was more than offset by the release of gold-in-
process from previously stacked Mars ore from the heap leach
operation. A price participation royalty calculated at 10 per cent of
the average quarterly gold price above A$600 per ounce was
payable during the quarter and amounted to A$3 million (R17
million), which was similar to the previous quarter. Total cash costs
increased to A$511 per ounce (US$401 per ounce) for the quarter
from A$493 per ounce (US$378 per ounce) in the December
quarter.

Operating profit was similar at A$36 million (R202 million), the
higher gold price offsetting the lower gold production.

Capital expenditure for the March quarter was A$26 million (R148
million) compared with A$22 million (R126 million) in the December
quarter. Mine development capital was higher than the previous
quarter at A$16 million (R91 million) compared with A$14 million
(R81 million) in the previous quarter with the continuation of
development at the Bahama pit and commencement of
development at the North Revenge pit. Capital works was double
the previous quarter at A$2 million (R14 million), due to the
construction of the North Orchin emergency tailings disposal
system and the installation of an agglomeration drum at the heap
leach circuit. Capitalised exploration expenditure was A$7 million
(R40 million) for the quarter, compared with A$6 million (R34
million) in the preceding quarter.

Gold production for the June quarter is expected to decrease
slightly with a corresponding increase in unit costs since both the
Lefroy mill and heap leach facility have planned downtime events
during the quarter for a major SAG mill re-line and commissioning
of an agglomeration drum respectively.

Agnew

March

2007

December

2006

Gold produced

- 000’ozs

46.6

53.0

Yield

- g/t

4.5

5.2

Total cash costs

- A$/oz

426

338

- US$/oz

334

260

Gold production for the March quarter was 46,600 ounces, which
was 12 per cent down on the December quarter’s 53,000 ounces.
This was due to lower yields at 4.5 grams per ton compared with
5.2 grams per ton the previous quarter. This was mainly on the
back of lower grades from the high grade Kim lode, where
sequencing for good geotechnical management constrained mining
to lower grade portions of the orebody. In addition, some
production from Kim was affected by higher than normal dilution
associated with mining adjacent to the Kim fault between the Kim
and Kim South lodes. The grade at the Kim lode was down from
16.4 grams per ton to 10.4 grams per ton as a result. The overall
underground operations at Waroonga produced 98,000 tons of ore
at 9.7 grams per ton, compared with 100,000 tons at 13.1 grams
per ton in the December quarter.

Open pit mining at Songvang produced 450,000 tons of ore,
significantly up on the 344,000 tons produced during the December
quarter and the average grade increased from 1.9 to 2.2 grams per
ton. The total volume of ore and waste mined from the pit was 0.72
million BCM compared with 1.2 million BCM during the previous
quarter, decreasing the average strip ratio from 9.1 to 3.7 which
reflects the reduced working areas available as the pit deepens.

Operating costs, including gold-in-process movements, were A$17
million (R97 million) for the March quarter, some A$1 million above
the December quarter. Costs increased by A$2 million due to the
completion of the capitalised waste pre-strip at Songvang and the
resultant expensing of internal waste as from November 2006,
combined with an increase of A$1 million due to increased
production at Songvang. This was partially offset by gold-in-
process credits as a result of increased Songvang stocks. Total
cash costs increased to A$426 per ounce (US$334 per ounce) for
the quarter compared with A$338 per ounce (US$260 per ounce) in
the preceding quarter, largely as a result of decreased gold
production. Operating profit decreased to A$22 million (R122
million) compared with A$27 million (R151 million) quarter on
quarter.

Capital expenditure for the March quarter was A$6 million (R33
million) compared with A$10 million (R56 million) in the December
quarter. The majority of this decrease was due to a reduction of
pre-strip expenditure at Songvang, which was completed in the
previous quarter. Capitalised exploration expenditure was
maintained at A$2 million (R11 million).

Gold produced during the June quarter is expected to be similar to
the March quarter. Cash costs are expected to rise in line with
Songvang’s associated waste chargeback costs.

Quarter ended 31 March 2007 compared
with quarter ended 31 March 2006

Attributable gold production decreased 3 per cent from 1,023,000
ounces for the quarter ended 31 March 2006 to 989,000 ounces
produced in the quarter ended 31 March 2007. A decrease was
seen at most operations, partially offset by an increase from Choco
10 of 2,700 attributable ounces, as this operation only included
one months results this time last year, and the newly acquired
South Deep, which produced 66,000 attributable ounces this
quarter.

The South African operations, excluding South Deep, produced
590,000 ounces, compared with 646,000 ounces produced in the
March 2006 quarter. The decrease at Driefontein and Beatrix
amounted to 33,000 and 36,000 ounces respectively due to lower
grades, partially offset by an increase at Kloof of 13,000 ounces
due to higher underground tons processed.

At the international operations, excluding Choco 10, production
decreased by 47,000 attributable ounces to 333,000 attributable
ounces. Tarkwa and Damang decreased by 13,000 and 10,000
attributable ounces respectively. St Ives and Agnew decreased by
15,000 ounces and 9,000 ounces respectively. These decreases
resulted from lower grades achieved across the operations.

Revenue increased by 34 per cent in rand terms (increased 15 per
cent in US dollar terms) from R3,734 million (US$602 million) to
R4,994 million (US$693 million). The higher gold price of
R151,184 per kilogram (US$652 per ounce) compared with
R109,500 per kilogram (US$555 per ounce), more than offset the
lower production.

Operating costs increased from R2,384 million (US$386 million) to
R3,165 million (US$439 million), an increase of 33 per cent. This
increase includes R303 million (US$42 million) at South Deep and
an additional R50 million (US$7 million) at Choco 10. The weaker
rand also contributed to the increase in costs as translating costs at
the international operations into South African rand accounted for
R168 million of this increase. Exchange rates weakened from an
average of US$1 = R6.14 to US$1 = R7.21, or 17 per cent and
from A$1 = R4.56 to A$1 = R5.66, or 24 per cent quarter on
quarter. The balance of the operating cost increase of R260 million
(US$36 million) includes R193 million at the South African
operations, with the balance of R67 million at the international
operations. Total cash costs for the Group increased 16 per cent
from US$344 to US$399 per ounce.

At the South African operations operating costs excluding South
Deep increased by 13 per cent to R1,709 million for the March
2007 quarter compared with R1,516 million for the same period the
previous year. This was due to above inflation wage increases, an
increase in equipping and secondary support, an increase in

GOLD FIELDS RESULTS Q3F2007

commodity prices, particularly steel, copper, fuel and food, as well
as normal inflationary pressures. Unit cash costs excluding South
Deep increased from R72,725 to R88,772 per kilogram. At the
international operations unit cash costs increased by 24 per cent
from US$310 per ounce to US$383 per ounce. This was due to the
combined effect of lower gold outputs as a result of lower grades,
the increased cost of inputs driven by the commodities boom,
increased fleet maintenance costs at Tarkwa and increased power
costs in Ghana due to on-mine power generation.

Operating profit at R1,840 million (US$255 million), compared with
R1,377 million (US$221 million) in the previous year, with the group
benefiting from the higher gold price in all currencies.

Net earnings were R370 million (US$52 million) compared with
R504 million (US$80 million) in the March 2006 quarter. This
decrease in earnings was largely due to losses resulting from the
South Deep acquisition. This was evidenced by the earnings
excluding gains and losses on foreign exchange and exceptional
items for the March 2007 quarter, which amounted to R512 million
(US$71 million) compared with R397 million (US$63 million) in the
March 2006 quarter.

C a p i t a l a n d d e v e l o p m e n t
p r o j e c t s

Cerro Corona

During the quarter community relationships remained stable on the
Cerro Corona site. Proactive management of community and
social issues remained a primary focus in all construction related
activities, with a particular emphasis on employment and
community contracting. Since October 2006, the fleet of locally
hired construction equipment working at the site has doubled in
size, with performance based opportunities for all local contractors
being provided. Community stakeholder participation remains high
with over 50 local contractors and suppliers and almost 900 people
from local communities working at site.

There were no significant environmental incidents during the
period. Sediment control has been a particular challenge due to
above-average rainfall over recent months, coinciding with
significant top soil stripping activity. Safety performance on the
Project remains good, with only one lost time injury occurring in the
financial year.

Surface mining performance over the quarter was below
expectations primarily due to poor weather conditions, rain and
mist, but also due to shortages of road construction materials and
poor haul truck availability. A total of 2.35 million total tons was
mined in the quarter (December 2.5 million tons) of which, some 60
per cent was waste and the majority of the balance oxide ore for
stockpiling. Very limited sulphide ore mining has been undertaken
to reduce the risk of oxidation of these ores. Waste and oxide
mining has now exposed mineable sulphide ore blocks which will
be left until sulphide ore production commences with
commissioning of the concentrator. Mining progress should not
affect project start up. In the near term, the mining fleet will focus
on production of construction materials from both the surface mine
and quarries on the project site. These materials are required for
haul road and tailings embankment construction. Unit mining cost
performance, at US$1.55 per ton was in line with expectation.

By quarter end the bulk of the engineering had been completed,
while on the procurement front, the majority of the major
construction packages have now been placed or are in final
recommendation stage.

Design revisions have focused on simplifying the design of the
tailings embankment to reduce cost and simplify construction of this
large structure. This follows a rigorous internal and external review
process including an Independent Geotechnical and Tailing Dam
Review Board (IGTRB), recognizing the scale and complexity of the
tailings management facility. Engineering of these aspects remains
on track with final bid documents being released for bidding and
adjudication.

During the quarter earth moving activity on the project focused on
top soil stripping of the tailings embankment footprint and haul road

construction. The plant site was turned over to the civil, structural
and mechanical contractor in early January and construction
activities here have centered on bulk concrete works for major
foundations.

Completion of construction is forecast for early January 2008, and
the project is still expected to commence ore treatment in that
month, with shipment of concentrates commencing in that quarter.
The greatest schedule risk remains delays in completion of the
tailing embankment.

During the quarter cumulative project commitments reached
US$220 million (December US$172 million) while cash expenditure
in the quarter was US$46 million (December US$46 million). The
total capital construction cost for the Project remains forecast at
US$343 million.

Arctic Platinum

North American Palladium Finland OY (“NAPF”) and Gold Fields
exploration technical staff continued to review drilling results and
processing options during the quarter. The third party engineering
firm retained by NAPF issued a preliminary Scoping Study for
review. Gold Fields has commented on this study and expects a
final report by the fourth quarter of financial 2007.

E x p l o r a t i o n a n d c o r p o r a t e
d e v e l o p m e n t

Gold Fields completed drilling on five projects during the quarter on
its greenfield exploration sites. At the Essakane project in Burkina
Faso (GFI earning 60 per cent), a new resource estimate was
completed and the commercial and operating agreements executed
with Orezone Resources Inc (TSX: “OZN”). Resources reporting
within a US$650 per ounce pit shell at a 1.0 gram per ton cut-off
are estimated at 43 million tons at 2.4 grams per ton gold for a total
of 3.1 million ounces. More than 80 per cent of this inventory is
classed as Indicated Resource. The Bankable Feasibility Study is
underway and completion is expected in the September 2007
quarter.

On the Sankarani project (GFI earning 65 per cent) in south-
western Mali, presently operated by partner Glencar Mining plc
(AIM: “GEX”), follow-up diamond drilling was completed on the
Kabaya South target during the quarter. At the 80 per cent owned
Kisenge project in the southern DRC most results for the previously
completed aircore and diamond drilling programme were received
during the quarter. While these results do not support conclusively
the association of gold mineralization with conglomerates as at
Tarkwa in Ghana, there does appear to be a closer analogue with
the Damang Mine. Plans are near completion for finalising a
significant drilling programme during the remainder of the year at
Kisenge.

At the Central Victoria project in Australia, aircore and diamond
drilling continued to define the newly discovered parallel trend
located to the east of Lockington trend. Results received to date
support two potentially significant mineralized trends but we have
yet to attain consistent intersections defining an underground
mineable resource. The programmes are still in the early stages of
evaluating these mineralised trends discovered under shallow
cover. At the New South Wales generative programme being
completed with a subsidiary company owned by GeoInformatics
Exploration Inc (TSX Venture: “GXL”), additional tenements were
acquired.

In China, the previously announced strategic alliance with Sino
Gold Limited (ASX: “SGX”) included the transfer of properties and
Gold Fields staff as well as progressing negotiations on the
definitive operating agreement. Gold Fields currently owns 17.3 per
cent of SGX subsequent to their successful secondary listing on the
Hong Kong Stock Exchange in March.

A 2,500 metre reverse circulation drill programme was completed
at the 100 per cent owned Isla Project in northern Chile evaluating
the high sulfidation – epithermal Au potential of this old native sulfur
mineral occurrence. Results did not yield any economic
intersections and the project will be relinquished.

GOLD FIELDS RESULTS Q3F2007

Diamond drilling continued on the Las Tres Palmas project in the
Dominican Republic with partner GoldQuest Mining Corp (TSX
Venture: “GQC”). Results received to date appear to have defined
the northern limit of the Las Tres Palmas system. An additional
500 metres of diamond drilling was completed on the Resbalosa
target during the quarter.

C o r p o r a t e

Gold Fields successfully completes capital raising

On 31 January 2007 the capital raising announced earlier, of 79
million new shares in Gold Fields, was completed. On 2 February,
JPMorgan and Citigroup acting as joint global co-ordinators and
joint bookrunners in the capital raising exercised in-full the over-
allotment option granted by Gold Fields. Gold Fields issued an
additional 11.85 million new ordinary shares at R113.50 per share
to cover this allotment, this being the offer price achieved in the
Capital Raising.

Following the exercise of the over-allotment option, the total
number of new ordinary shares issued in terms of the capital
raising was 90.85 million. This represents approximately 16.2 per
cent of Gold Fields’ issued ordinary share capital prior to the capital
raising. Based on the offer price of R113.50 per share, the gross
proceeds received by Gold Fields amounted to approximately
R10.3 billion (US$1.4 billion). These proceeds were used to repay
debt incurred for purposes of Gold Fields’ acquisition of Barrick
Gold Corporation’s 50 per cent interest in the South Deep asset
and its rights under the joint venture agreement with Western
Areas.

Close out of Western Areas gold derivative structure

The Western Areas gold derivative structure was closed out on 24
January 2007, for settlement 30 January 2007, by purchasing the
net delta of 1.005 million ounces of gold at an average price of
US$622.14. The total settlement cost, which includes the deferred
premium, was US$528 million. The total settlement cost was
funded by drawing down under the bridge loan facility arranged by
JP Morgan and Citibank.

Acquisition of remaining shares of Western Areas
Limited completed

On 10 April 2007 the successful implementation of Section 440K of
the Companies Act and the consequent acquisition by Gold Fields
of all the remaining Western Areas Limited shares not already held
by Gold Fields was announced.

As a result Gold Fields now owns 100 per cent of the share capital
of Western Areas, whose listing on the JSE was terminated on 30
March 2007. As a consequence, the existing board of Western
Areas will be replaced by a board of Gold Fields nominees.

US$750 million syndicated revolving credit facility

ABN AMRO and Barclays Capital have been mandated as
Mandated Lead Arranges and Joint Bookrunners for a US$750
million syndicated dual tranche revolving credit facility. The
syndication was launched on 16 April 2007.

The facility will be used by Gold Fields for refinancing of its existing
debt and for general corporate funding purposes. It is structured as
a five year revolving credit facility of US$500 million and a 364 day
facility of US$250 million with bullet repayments.

Gill Marcus joins the Gold Fields Board

The Board is pleased to announce that Ms Gill Marcus has been
appointed as a non-executive director of the company with effect
from 14 February 2007.

Ms Gill Marcus has been the executive chairperson of Western
Areas Limited from 17 November 2005 to 31 March 2007 and
chairperson of the Executive Committee and member of the Placer
Dome Western Areas JV Board. She was a member of the ANC
National Executive Committee from 1991 to 1999 and Member of
Parliament from 1994 to 1999. Ms Marcus served as Deputy
Minister of Finance from 1996 to 1999. She served as Deputy
Governor of the South African Reserve Bank from 1999 to 2004.
She is Professor: Policy, Leadership and Gender Studies at the
Gordon Institute of Business Science, board member of Bidvest

Limited and the International Marketing Council, and also serves on
the Advisory Board of the Auditor General. Ms Marcus is also
Chairperson elect of ABSA Group and ABSA Bank. The
appointment will be effective as from 1 July 2007.

New Executive Vice President for International
Operations

We are pleased to announce the appointment of Glenn Baldwin
who has agreed to head up the international operations. This came
about as a result of Terence Goodlace’s move from the position of
head of international operations to head up the South African
operations as announced on 9 January 2007.

Glenn, who has considerable experience in the mining industry in
South Africa and abroad, joined Gold Fields on 1 April 2007, and is
based in Johannesburg.

C h a n g e i n a c c o u n t i n g p o l i c y

Capitalisation of costs relating to Ore Reserve
Development (ORD)

On 1 July 2006, the Group changed its accounting policy on Ore
Reserve Development (“ORD”) costs. These costs are now
capitalised and amortised over the period the Group expects to
consume the economic benefits relating to ORD. Previously, ORD
costs were expensed. The change in accounting policy has been
applied retrospectively for the earliest comparative period
presented in terms of IAS8 Accounting policies, changes in
accounting estimates and errors.

ORD is all off-reef development that allows access to reserves that
are economically recoverable in the future. ORD includes, but is
not limited to, crosscuts, footwalls, return airways and box holes.
The cost of developing access ways and other infrastructure
creates for the Group probable economic benefits that, in
combination with other assets at its mining operations, contribute
directly to the future cash inflows of the Group. The change in
accounting policy will therefore allow for improved financial
reporting and will align the Group’s policy with those of its global
industry peers.

The effect of the change in accounting policy for the last 3 years is
an after tax net credit to earnings of:

F2006 - R81.5 million

F2005 - R100.7 million

F2004 - R363.9 million

The impact of the change in accounting policy for the March 2007
quarter, is a net credit to earnings of R75 million. The net credit to
earnings in the December 2006 quarter amounted to R40 million.
For the March 2006 quarter the impact was a net credit to earnings
of R21 million.

The corresponding entry for the above adjustments was to increase
property, plant and equipment and deferred tax liabilities.

O u t l o o k

Gold production for the June quarter is estimated at just over 1
million attributable ounces. Cash costs should reduce in line with
the increased production.

B a s i s o f a c c o u n t i n g

The unaudited results for the quarter and nine months have been
prepared on the International Financial Reporting Standards (IFRS)
basis. The detailed financial, operational and development results
for the March 2007 quarter are submitted in this report.

These consolidated quarterly statements are prepared in
accordance with IAS 34, Interim Financial Reporting. The
accounting policies used in the preparation of this report are
consistent with those applied in the previous financial year other
than the change in accounting policy referred to.

I.D. Cockerill
Chief Executive Officer
3 May 2007

GOLD FIELDS RESULTS Q3F2007

I n c o m e s t a t e m e n t

International Financial Reporting Standards Basis

Figures are in millions unless otherwise stated

South African Rand

Quarter

Nine months to

March

2007

December

2006

Restated

March

2006

March

2007

Restated

March

2006

Revenue

4,994.2

4,854.4 3,734.4 14,580.5

10,235.7

Operating costs

3,165.2

2,974.7 2,384.2 8,903.5

7,007.2

Gold inventory change

(11.1)

(89.7) (26.4) (119.1)

(36.1)

Operating profit

1,840.1

1,969.4 1,376.6 5,796.1

3,264.6

Amortisation and depreciation

704.3

745.1 542.0

2,130.1

1,575.9

Net operating profit

1,135.8

1,224.3 834.6

3,666.0

1,688.7

Net interest (paid)/received

(111.9)

(26.6) (6.9)

(121.8)

10.7

(Loss)/gain on foreign exchange

(379.7)

263.6 80.4

(119.0)

80.5

Loss on financial instruments

(35.2)

(19.2) (20.2) (63.8)

(47.8)

Other expenses

(26.8)

(63.9) (83.5) (119.4)

(131.3)

Exploration

(75.6)

(64.9) (33.6) (206.1)

(153.9)

Profit before tax and exceptional items

506.6

1,313.3 770.8

3,035.9

1,446.9

Exceptional gain

192.0

7.8 53.2 208.5

57.7

Profit before taxation

698.6

1,321.1 824.0

3,244.4

1,504.6

Mining and income taxation

261.9

480.2 234.6

1,206.3

503.6

- Normal taxation

232.5

259.4 156.1 743.6

351.3

- Deferred taxation

29.4

220.8 78.5 462.7

152.3

Net profit

436.7

840.9 589.4

2,038.1

1,001.0

Attributable to:

- Ordinary shareholders

370.4

766.8 503.7

1,835.0

852.2

- Minority shareholders

66.3

74.1 85.7 203.1

148.8

Exceptional items:

Profit on sale of investments

182.3

4.7 28.5 187.4

30.3

Profit on sale of assets

10.0

2.8 24.5 21.1

24.5

Other

(0.3)

0.3 0.2 -

2.9

Total exceptional items

192.0

7.8 53.2 208.5

57.7

Taxation

(49.2)

(2.7) (14.1) (55.0)

(15.3)

Net exceptional items after tax and minorities

142.8

5.1 39.1 153.5

42.4

Net earnings

370.4

766.8 503.7

1,835.0

852.2

Net earnings per share (cents)

148 102 337

173

Diluted earnings per share (cents)

137 94 314

164

Headline earnings

227.6

761.7 466.6

1,681.5

811.8

Headline earnings per share (cents)

147 94 309

164

Net earnings excluding gains and losses on foreign exchange
and exceptional items

512.0

563. 6 396.7

1,810.0

762.4

Net earnings per share excluding gains and losses on foreign
exchange and exceptional items (cents)

108 80 333

154

Gold sold – managed

33,034

33,598 34,104 99,947

101,457

Gold price received

R/kg

151,184

144,485 109,500 145,882

100,887

Total cash costs

R/kg

92,490

83,707 67,831 85,328

67,026

GOLD FIELDS RESULTS Q3F2007

I n c o m e s t a t e m e n t

International Financial Reporting Standards Basis

Figures are in millions unless otherwise stated

United States Dollars

Quarter

Nine months to

March

2007

December

2006

Restated

March

2006

March

2007

Restated

March

2006

Revenue

692.6

657.6 602.2

2,016.7

1,599.3

Operating costs

438.9

403.4 385.8

1,231.5

1,094.8

Gold inventory change

(1.6)

(12.3) (4.1) (16.5)

(5.6)

Operating profit

255.3

266.5 220.5 801.7

510.1

Amortisation and depreciation

97.7

101.0 87.6 294.6

246.2

Net operating profit

157.6

165.5 132.9 507.1

263.9

Net interest (paid)/received

(15.4)

(3.8) (1.0) (16.8)

1.7

(Loss)/gain on foreign exchange

(52.5)

36.4 12.6

(16.5)

12.6

Loss on financial instruments

(4.8)

(2.7) (3.3) (8.8)

(7.5)

Other expenses

(3.7)

(8.7) (13.2) (16.5)

(20.5)

Exploration

(10.5)

(8.7) (5.5) (28.5)

(24.0)

Profit before tax and exceptional items

70.7

178.0 122.5 420.0

226.2

Exceptional gain

26.5

1.1 8.3 28.8

9.0

Profit before taxation

97.2

179.1 130.8 448.8

235.2

Mining and income taxation

36.4

65.0 37.4 166.8

78.7

- Normal taxation

32.2

35.1 25.0 102.8

54.9

- Deferred taxation

4.2

29.9 12.4 64.0

23.8

Net profit

60.8

114.1 93.4 282.0

156.5

Attributable to:

- Ordinary shareholders

51.6

104.0 79.8 253.9

133.2

- Minority shareholders

9.2

10.1 13.6 28.1

23.3

Exceptional items:

Profit on sale of investments

25.2

0.7 4.4 25.9

4.7

Profit on sale of assets

1.4

0.3 3.8 2.9

3.8

Other

(0.1)

0.1 0.1 -

0.5

Total exceptional items

26.5

1.1 8.3 28.8

9.0

Taxation

(6.8)

(0.4) (2.1) (7.6)

(2.3)

Net exceptional items after tax and minorities

19.7

0.7 6.2 21.2

6.7

Net earnings

51.6

104.0 79.8 253.9

133.2

Net earnings per share (cents)

20 16 47

Diluted earnings per share (cents)

19 15 43

Headline earnings

31.9

103.3 73.9 232.7

126.8

Headline earnings per share (cents)

20 15 43

Net earnings excluding gains and losses on foreign exchange and exceptional items

71.0

76.0 63.0 250.3

119.1

Net earnings per share excluding gains and losses on foreign exchange and exceptional items (cents)

15 13 46

South African rand/United States dollar conversion rate

7.21

7.38 6.14 7.23

6.40

South African rand/Australian dollar conversion rate

5.66

5.66 4.56 5.52

4.80

Gold sold – managed

ozs (000)

1,062

1,080 1,096 3,213

3,261

Gold price received

$/oz

652

609 555 628

490

Total cash costs

$/oz

399

353 344 367

326

GOLD FIELDS RESULTS Q3F2007

B a l a n c e s h e e t

International Financial Reporting Standards Basis

Figures are in millions unless otherwise stated

South African Rand

United States Dollars

March

2007

Restated

June

2006

March

2007

Restated

June

2006

Property, plant and equipment

45,228.7

24,069.5

6,281.8

3,239.5

Non-current assets

564.2

484.0

78.4

65.1

Investments

2,143.4

2,483.9

297.7

334.3

Current assets

5,801.4

4,351.2

805.7

585.6

- Other current assets

3,473.6

2,733.7

482.4

367.9

- Cash and deposits

2,327.8

1,617.5

323.3

217.7

Total assets

53,737.7

31,388.6

7,463.6

4,224.5

Shareholders’ equity

39,211.3

19,851.5

5,446.0

2,671.8

Deferred taxation

3,341.9

5,454.7

464.2

734.1

Long-term loans

2,286.6

2,021.6

317.6

272.1

Environmental rehabilitation provisions

1,149.6

1,079.3

159.7

145.3

Post-retirement health care provisions

21.3

18.0

3.0

2.4

Current liabilities

7,727.0

2,963.5

1,073.1

398.8

- Other current liabilities

3,405.5

2,641.8

472.9

355.5

- Current portion of long-term loans

4,321.5

321.7

600.2

43.3

Total equity and liabilities

53,737.7

31,388.6

7,463.6

4,224.5

South African rand/US dollar conversion rate

7.20

7.43

South African rand/Australian dollar conversion rate

5.80

5.44

C o n d e n s e d s t a t e m e n t o f c h a n g e s i n e q u i t y

International Financial Reporting Standards Basis

Figures are in millions unless otherwise stated

South African Rand

United States Dollars

March

2007

Restated

March

2006

March

2007

Restated

March

2006

Balance at the beginning of the financial year

19,851.5

16,534.1

2,671.8

2,467.8

Effect of change in accounting policy – capitalisation of ORD costs

464.6

69.3

Issue of share capital

77.8

0.9

10.8

0.1

Increase in share premium

18,196.3

46.1

2,527.3

7.3

Marked to market valuation of listed investments

184.4

247.7

25.6

38.7

Dividends paid

(1,130.9)

(431.8)

(157.1)

(67.6)

Increase in share-based payment reserve

60.0

46.4

8.3

7.3

Profit attributable to ordinary shareholders

1,835.0

852.2

253.9

133.1

Profit attributable to minority shareholders

203.1

148.8

28.1

23.3

(Decrease)/increase in minority interests

(100.6)

62.5

(11.6)

9.8

Currency translation adjustment and other

34.7

(770.5)

88.9

49.9

Balance as at the end of March

39,211.3

17,201.0

5,446.0

2,739.0

R e c o n c i l i a t i o n o f q u a r t e r l y h e a d l i n e e a r n i n g s w i t h n e t e a r n i n g s

International Financial Reporting Standards Basis

Figures are in millions unless otherwise stated

South African Rand

United States Dollars

March

2007

December

2006

Restated

March

2006

March

2007

December

2006

Restated

March

2006

Net earnings

370.4

766.8 503.7 51.6

104.0 79.8

Profit on sale of investments

(182.3)

(4.7) (28.5)

(25.2)

(0.7) (4.4)

Taxation effect of profit on sale of investments

47.3

- -

6.5

- -

Profit on sale of assets

(10.0)

(2.8) (24.5) (1.4)

(0.3) (3.8)

Taxation effect of profit on sale of assets

1.9

2.7 14.1 0.3

0.4 2.1

Other after tax adjustments

0.3

(0.3) 1.8

0.1

(0.1) 0.2

Headline earnings

227.6

761.7 466.6 31.9

103.3 73.9

Headline earnings per share – cents

147 94 5

20 15

Based on headline earnings as given above divided by
620,105,799 (December 2006 – 517,356,586 and March 2006 – 494,075,334) being the weighted average number of ordinary shares in issue for the period

GOLD FIELDS RESULTS Q3F2007

C a s h f l o w s t a t e m e n t

International Financial Reporting Standards Basis

Figures are in millions unless otherwise stated

South African Rand

Quarter

Nine months to

March

2007

December

2006

Restated

March

2006

March

2007

Restated

March

2006

Cash flows from operating activities

(2,615.1)

1,381.2 1,399.7 375.4

2,635.0

Profit before tax and exceptional items

506.6

1,313.3 770.8

3,035.9

1,446.9

Exceptional items

192.0

7.8 53.2

208.5

57.7

Amortisation and depreciation

704.3

745.1 542.0

2,130.1

1,575.9

Change in working capital

(131.8)

(320.9) 228.7

(442.8)

(158.1)

Taxation paid

(177.6)

(85.6) (134.9) (578.0)

(269.7)

Settlement of Western Areas hedge

(3,893.8)

- -

(3,893.8)

Other non-cash items

185.2

(278.5) (60.1) (84.5)

(17.7)

Dividends paid

(585.5)

- (235.0)

(1,141.4)

(431.8)

Ordinary shareholders

(585.5)

- (197.7)

(1,130.9)

(394.5)

Minority shareholders in subsidiaries

- (37.3) (10.5)

(37.3)

Cash flows from investing activities

(1,419.8)

(10,135.8) (3,423.2)

(12,862.8)

(4,559.2)

Capital expenditure – additions

(1,341.4)

(1,376.0) (662.0)

(3,905.4)

(1,764.8)

Capital expenditure – proceeds on disposal

11.0

2.9 21.9 22.3

29.7

Purchase of subsidiaries

(30.9)

(8,676.8) (2,631.8) (8,707.7)

(2.631.8)

Purchase of investments

(349.6)

(77.5) (156.1) (548.5)

(195.0)

Proceeds on the disposal of investments

305.7

6.9 8.2

314.8

16.6

Environmental and post-retirement health care payments

(14.6)

(15.3) (3.4)

(38.3)

(13.9)

Cash flows from financing activities

5,500.4

9,016.4 835.8

14,347.9

635.6

Loans received

4,439.9

9,057.9 986.7

13,497.8

986.7

Loans repaid

(9,035.6)

- (147.5)

(9,191.2)

(287.5)

Minority shareholders loans repaid

(44.6) (44.0) (90.1)

(110.6)

Shares issued

10,096.1

3.1 40.6

10,131.4

47.0

Net cash inflow/(outflow)

880.0

261.8 (1,422.7)

719.1

(1,720.4)

Translation adjustment

35.3

(73.2) (13.0) (8.8)

(153.1)

Cash at beginning of period

1,412.5

1,223.9 2,937.2 1,617.5

3,375.0

Cash at end of period

2,327.8

1,412.5 1,501.5 2,327.8

1,501.5

United States Dollars

Quarter

Nine months to

March

2007

December

2006

Restated

March

2006

March

2007

Restated

March

2006

Cash flows from operating activities

(358.9)

189.8 221.7 57.6

416.1

Profit before tax and exceptional item-s

70.7

178.0 122.5 420.0

226.1

Exceptional items

26.5

1.1 8.3 28.8

9.0

Amortisation and depreciation

97.7

101.0 87.6

294.6

246.2

Change in working capital

(18.2)

(44.4) 34.6

(61.2)

(24.7)

Taxation paid

(26.6)

(7.4) (22.0) (78.3)

(37.7)

Settlement of Western Areas hedge

(534.6)

- -

(534.6)

Other non-cash items

25.6

(38.5) (9.3)

(11.7)

(2.8)

Dividends paid

(81.4)

- (38.2) (159.7)

(67.6)

Ordinary shareholders

(81.4)

- (32.4) (158.2)

(61.8)

Minority shareholders in subsidiaries

- (5.8) (1.5)

(5.8)

Cash flows from investing activities

(198.7)

(1,396.4) (554.8)

(1,779.2)

(729.0)

Capital expenditure – additions

(186.1)

(186.8) (106.6) (540.2)

(275.7)

Capital expenditure – proceeds on disposal

1.5

0.4 3.4 3.1

4.6

Purchase of subsidiaries

(5.9)

(1,198.5) (427.8)

(1,204.4)

(427.8)

Purchase of investments

(48.4)

(10.4) (24.5) (75.9)

(30.5)

Proceeds on the disposal of investments

42.2

1.0 1.3 43.5

2.6

Environmental and post-retirement health care payments

(2.0)

(2.1) (0.6) (5.3)

(2.2)

Cash flows from financing activities

756.0

1,261.4 129.8

1,993.6

98.8

Loans received

609.4

1,265.7 154.2

1,875.1

154.2

Loans repaid

(1,249.8)

0.4 (23.4)

(1,271.3)

(44.9)

Minority shareholders loans repaid

(5.1) (7.3)

(11.5)

(17.8)

Shares issued

1,396.4

0.4 6.3

1,401.3

7.3

Net cash inflow/(outflow)

117.0

54.8 (241.5) 112.3

(281.7)

Translation adjustment

3.9

(13.4) 19.5 (6.7)

17.1

Cash at beginning of period

202.4

161.0 461.1 217.7

503.7

Cash at end of period

323.3

202.4 239.1 323.3

239.1

GOLD FIELDS RESULTS Q3F2007

H e d g i n g / D e r i v a t i v e s

The Group’s policy is to remain unhedged to the gold price. However, hedges are sometimes undertaken on a project specific basis as follows:

•

to protect cash flows at times of significant expenditure,

•

for specific debt servicing requirements, and

•

to safeguard the viability of higher cost operations.

Gold Fields may from time to time establish currency financial instruments to protect underlying cash flows.
Gold Fields has various currency financial instruments - those remaining are described in the schedule.

Position at end of March 2007

Western Areas Limited Gold Derivative Structure

The Western Areas Limited gold derivative structure was closed out on 24 January 2007, by purchasing the net delta of 1.005 million ounces of gold at
a total cost of US$527.8 million for settlement 30 January 2007 by drawing down this amount under the bridge loan facility arranged by JP Morgan and
Citibank.

US Dollars / Rand forward purchases

As a result of the draw down under the bridge loan facility to settle the close-out of the gold derivative structure, US dollars / Rand forward cover was
purchased during the quarter for the amount of US$550.8 million for settlement 6 August 2007, at an average forward rate of 7.3279, this cover was
established at an average spot rate of 7.1918. For accounting purposes, this forward cover has been designated as a hedging instrument. As a result
the gains and losses on the US$550.8 million forward cover have been accounted for under (loss)/gain on foreign exchange.

The interest payable on the above loan was covered forward by purchasing US$7.6 million at an average rate of 7.4299 for value 30 April 2007.

Year ended 30 June

2007 2008

Forward purchases:

Amount (US Dollars)

- 000’s

7,600 550,800

Average rate forward

- (ZAR/US$)

7.4299 7.3279

The marked to market value of the US$550.8 million forward cover was negative by R11.7 million (US$1.6 million). The marked to market value of the
US$7.6 million forward cover was negative by R1.5 million (US$0.2 million).

US Dollars / Rand forward purchases totaling US$30 million was closed out on 20 March 2007 at a rate of 7.4245 for value 6 June 2007, realising a
profit since inception of R8.1 million (US$1.1 million).

US Dollars / Australian Dollars call options

The US Dollars / Australian Dollars call options maturing at the end of December 2006 was exercised and settled at an average rate of 0.7863 realising
a profit of US$0.6 million.

Diesel Hedge

On 3 July 2006, Gold Fields Ghana purchased a one year Asian style (average monthly price) call option in respect of 58.8 million litres of diesel, settled
monthly, to protect against adverse energy price movements. The call option resulted in a premium of US$2.5 million, paid upfront, at a strike price of
US$0.5716 per litre (US$676.20 per metric ton). This equates to US$73.89 per barrel brent crude. The price at the end of March was US$60.60 per
barrel and US$0.4570 cents per litre respectively. The balance of the unexpired options are given below:

Year ended 30 June

2007

Forward purchases:

Amount (litres)

- 000’s

19,600

Strike price

- US$/litre

0.5716

Conversion factor from US dollar per metric ton to US dollar cents per litre = 1,183

The marked to market value of all transactions making up the position above was a positive US$0.02 million. The value was based on an IPE Gasoil
price of US$0.4589 per litre (US$542.88 per metric ton). The value was based on the prevailing interest rates and volatilities at the time.

GOLD FIELDS RESULTS Q3F2007

T o t a l c a s h c o s t s

Gold Institute Industry Standard

All figures are in Rand millions unless otherwise stated

South African Operations

International Operations

Ghana Venezuela Australia

Total Mine

Operations

Total Driefontein

Kloof Beatrix

South

Deep+

Total

Tarkwa

Damang

Choco 10

St Ives

Agnew

Operating costs

(1)

March

2007

3,165.2

2,012.0

677.3

643.5

387.9

303.3

1,153.2

465.8 160.2 64.6 329.6

133.0

December

2006

2,974.7

1,794.7

660.5

629.1

392.1

113.0

1,180.0

454.4 165.8 78.4 372.2

109.2

Financial year to date

8,903.5

5,450.7

1,987.8 1,888.1

1,158.5

416.3

3,452.8

1,348.7 468.4 212.6 1,093.8

329.3

Gold-in-process and

March 2007

(0.8)

35.0

(35.8)

(16.6) 1.5

(19.9) 19.4

(20.2)

inventory change*

December 2006

(69.4)

(21.8)

(47.6)

(25.0) 3.0

(0.2)

(14.8)

(10.6)

Financial year to date

(83.5)

13.2

(96.7)

(44.8) 12.3

(24.2) (7.8)

(32.2)

Less:

March 2007

8.8

6.4

3.0

2.0

1.4

2.4

0.8 - -

1.6

Rehabilitation costs

December 2006

8.9

6.4

3.0

2.0

1.4

2.5

0.8 - -

1.7

Financial year to date

26.4

19.2

9.0

6.0

4.2

7.2

2.3 - -

4.9

Production taxes

March 2007

2.6

0.2

2.5

(0.1)

- - - -

December

2006

6.5

2.5

1.5

- - - -

Financial year to date

16.3

6.0

7.5

2.8

- - - -

General and admin

March 2007

139.8

82.8

29.6

24.4

17.8

11.0

57.0

25.8 4.2 11.9 10.1

5.0

December

2006

132.8

71.0

28.9

24.5

17.6

61.8

27.3 4.4 10.6 15.4

4.1

Financial year to date

395.7

225.5

87.5

73.0

54.0

11.0

170.2

76.5 12.3 34.1 35.4

11.9

Exploration costs

March 2007

12.9

- 5.9

- 6.3

0.7

December 2006

7.8

- 0.7

- 6.4

0.7

Financial year to date

29.5

- 8.7

- 18.8

2.0

Cash operating costs

March 2007

3,000.3

1,955.2

644.5

614.6

368.8

327.3

1,045.1

422.6 151.6 32.8 331.0

107.1

December

2006

2,749.3

1,689.0

626.1

600.1

371.6

91.2

1,060.3

401.3 163.7 67.6 333.9

93.8

Financial year to date

8,352.1

5,202.9

1,885.3 1,801.6

1,097.5

418.5

3,149.2

1,225.1 459.7 154.3 1,026.9

283.2

Plus:

March 2007

2.6

0.2

2.5

(0.1)

- - - -

Production taxes

December 2006

6.5

2.5

1.5

- - - -

Financial year to date

16.3

6.0

7.5

2.8

- - - -

Royalties

March 2007

52.4

24.3 7.2 1.3 14.4

5.2

December

2006

56.6

24.4 6.6 4.0 13.8

7.8

Financial year to date

159.9

71.8 20.2 7.4 42.0

18.5

TOTAL CASH COSTS

(2)

March

2007

3,055.3

1,957.8

644.7

617.1

368.7

327.3

1,097.5

446.9 158.8 34.1 345.4

112.3

December

2006

2,812.4

1,695.5

628.6

602.6

373.1

91.2

1,116.9

425.7 170.3 71.6 347.7

101.6

Financial year to date

8,528.3

5,219.2

1,891.3 1,809.1

1,100.3

418.5

3,309.1

1,296.9 479.9 161.7 1,068.9

301.7

Plus:

March 2007

638.3

335.6

119.6

125.5

35.4

55.1

302.7

67.5 8.6 7.0

219.6

Amortisation*

December 2006

690.0

372.7

122.4

151.3

89.7

9.3

317.3

66.9 9.6 13.9

226.9

Financial year to date

1,972.1

1,051.1

361.8

416.3

208.6

64.4

921.0

200.9 25.3 33.6

661.2

Rehabilitation

March 2007

8.8

6.4

3.0

2.0

1.4

2.4

0.8 - -

1.6

December

2006

8.9

6.4

3.0

2.0

1.4

2.5

0.8 - -

1.7

Financial year to date

26.4

19.2

9.0

6.0

4.2

7.2

2.3 - -

4.9

March 2007

3,702.4

2,299.8

767.3

744.6

405.5

382.4

1,402.6

515.2 167.4 41.1

678.9

TOTAL PRODUCTION
COSTS

(3)

December 2006

3,511.3

2,074.6

754.0

755.9

464.2

100.5

1,436.7

493.4 179.9 85.5

677.9

Financial year to date

10,526.8

6,289.5

2,262.1 2,231.4

1,313.1

482.9

4,237.3

1,500.1 505.2 195.3

2,036.7

Gold sold

March 2007

1,062.1

665.1

251.2

220.0

119.2

74.6

397.0

174.3 48.5 8.2 119.4

46.6

- thousand ounces December

2006

1,080.2

649.3

247.3

230.6

149.5

21.9

430.9

178.8 51.6 22.8 124.6

53.0

Financial year to date

3,213.4

1,963.6

756.0

693.3

417.8

96.5

1,249.7

526.7 148.6 48.3 367.4

158.8

TOTAL CASH COSTS

March 2007

399

408

356

389

429

608

383

356 454 575 401

334

- US$/oz December

2006

353

354

344

354

338

564

351

323 447 426 378

260

Financial year to date

367

368

346

361

364

600

366

341 447 463 402

263

TOTAL CASH COSTS

March 2007

92,490

94,644

82,506

90,180

99,434

141,017

88,881

82,454 105,305 133,203 92,974

77,502

- R/kg December

2006

83,707

83,952

81,721

84,021

80,237

133,724

83,338

76,537 106,106 100,987 89,706

61,576

Financial year to date

85,328

85,454

80,430

83,894

84,678

139,361

85,130

79,186 103,852 107,728 93,533

61,073

TOTAL PRODUCTION

March 2007

483

480

424

469

472

711

490

410 479 693

567

COSTS December

2006

440

433

413

444

421

621

452

374 472 508

517

- US$/oz

Financial year to date

453

443

414

445

435

692

469

394 470 560

535

DEFINITIONS
Total cash costs and Total production costs are calculated in accordance with the Gold Institute Industry standard.

(1)

Operating costs – All gold mining related costs before amortisation/depreciation, changes in gold inventory, taxation and exceptional items.

(2)

Total cash costs – Operating costs less off-mine costs, which include general and administration costs, as detailed in the table above.

(3)

Total production costs – Total cash costs plus amortisation/depreciation and rehabilitation provisions, as detailed in the table above.

* Adjusted for amortisation/depreciation (non-cash item) excluded from gold-in-process change.
Average exchange rates are US$1 = R7.21 and US$1 = R7.38 for the March 2007 and December 2006 quarters respectively.
# As a significant portion of the acquisition price was allocated to tenements of St Ives and Agnew based on endowment ounces and also as these two Australian operations are entitled to transfer and then off-set tax losses from one company to another, it is not meaningful to split the income statement below operating profit.
+ The acquisition of South Deep is effective from 1 December 2006.

Restated total cash cost on the assumption that Ore Reserve Development (ORD) is fully expensed

South African

Operations

International

Operations

Total Mine

Operations

Total Driefontein

Kloof Beatrix

South

Deep+

Total

Total cash costs as above

March 2007

3,055.3 1,957.8

644.7

617.1

368.7

327.3

1,097.5

(ORD capitalised)

December 2006

2,812.4 1,695.5

628.6

602.6

373.1

91.2

1,116.9

Financial year to date

8,528.3 5,219.2

1,891.3

1,809.1

1,100.3

418.5

3,309.1

Add back ORD

March 2007

248.2 248.2

79.6

96.4

66.0

6.2

December

2006

246.2 246.2

94.3

96.4

55.5

Financial year to date

727.5 727.5

259.3

280.7

181.3

6.2

Restated total cash costs

March 2007

3,303.5 2,206.0

724.3

713.5

434.7

333.5

1,097.5

December

2006

3,058.6 1,941.7

722.9

699.0

428.6

91.2

1,116.9

Financial year to date

9,255.8 5,946.7

2,150.6

2,089.8

1,281.6

424.7

3,309.1

Restated total cash costs

March 2007

431

460

400

450

506

620

383

- US$ per ounce

December 2006

384

405

396

411

388

564

351

Financial year to date

398

419

393

417

424

608

366

Restated total cash costs

March 2007

100,003 106,642

92,693

104,267

117,233

143,688

88,881

- Rand per kilogram

December 2006

91,035 96,143

93,981

97,462

92,172

133,724

83,338

Financial year to date

92,607 97,366

91,457

96,912

98,630

141,425

85,130

## Restated total cash costs relates to total cash costs prior to the change in accounting policy.
+ The acquisition of South Deep is effective from 1 December 2006.

GOLD FIELDS RESULTS Q3F2007

O p e r a t i n g a n d f i n a n c i a l r e s u l t s

South African Operations

South African Rand

Total Mine

Operations

Total Driefontein

Kloof Beatrix

South

Deep+

Operating Results

Ore milled/treated (000 tons)

March 2007

13,382

3,844 1,634 920 807

483

December

2006

13,109

3,778 1,673 986 935

184

Financial year to date

39,349

11,301 5,010 2,898 2,726

667

Yield (grams per ton)

March 2007

2.5

5.3 4.8 7.4 4.6

4.3

December

2006

2.6

5.4 4.6 7.3 5.0

4.6

Financial year to date

2.5

5.4 4.7 7.4 4.8

4.4

Gold produced (kilograms)

March 2007

32,788

20,440 7,814 6,843 3,708

2,075

December

2006

33,754

20,352 7,692 7,172 4,650

838

Financial year to date

99,825

60,986 23,515 21,564 12,994

2,913

Gold sold (kilograms)

March 2007

33,034

20,686 7,814 6,843 3,708

2,321

December

2006

33,598

20,196 7,692 7,172 4,650

682

Financial year to date

99,947

61,076 23,515 21,564 12,994

3,003

Gold price received (Rand per kilogram)

March 2007

151,184

151,445 151,932 151,016 151,807

150,495

December

2006

144,485

144,083 144,371 144,423 143,398

141,935

Financial year to date

145,882

145,928 146,068 145,604 145,606

148,551

Total cash costs (Rand per kilogram)

March 2007

92,490

94,644 82,506 90,180 99,434 141,017

December

2006

83,707

83,952 81,721 84,021 80,237 133,724

Financial year to date

85,328

85,454 80,430 83,894 84,678 139,361

Total production costs (Rand per kilogram)

March 2007

112,078

111,177 98,196

108,812

109,358 164,757

December

2006

104,536

102,773 98,024

105,396 99,828 147,361

Financial year to date

105,324

102,978 96,198

103,478

101,054 160,806

Operating costs (Rand per ton)

March 2007

237

523 415 699 481

628

December

2006

227

475 395 638 419

614

Financial year to date

226

482 397 652 425

624

Financial Results (Rand million)

Revenue

March 2007

4,994.2

3,132.8 1,187.2 1,033.4 562.9

349.3

December

2006

4,854.4

2,909.9 1,110.5 1,035.8 666.8

96.8

Financial year to date

14,580.5

8,912.7 3,434.8 3,139.8 1,892.0

446.1

Operating costs

March 2007

3,165.2

2,012.0 677.3 643.5 387.9

303.3

December

2006

2,974.7

1,794.7 660.5 629.1 392.1

113.0

Financial year to date

8,903.5

5,450.7 1,987.8 1,888.1 1,158.5

416.3

Gold inventory change

March 2007

(11.1)

35.0 - - - 35.0

December

2006

(89.7)

(21.8) - - -

(21.8)

Financial year to date

(119.1)

13.2 - - - 13.2

Operating profit

March 2007

1,840.1

1,085.8 509.9 389.9 175.0

11.0

December

2006

1,969.4

1,137.0 450.0 406.7 274.7

5.6

Financial year to date

5,796.1

3,448.8 1,447.0 1,251.7 733.5

16.6

Amortisation of mining assets

March 2007

648.4

335.6 119.6 125.5 35.4

55.1

December

2006

710.3

372.7 122.4 151.3 89.7

9.3

Financial year to date

2,007.5

1,051.1 361.8 416.3 208.6

64.4

Net operating profit

March 2007

1,191.7

750.2 390.3 264.4 139.6

(44.1)

December

2006

1,259.1

764.3 327.6 255.4 185.0

(3.7)

Financial year to date

3,788.6

2,397.7 1,085.2 835.4 524.9

(47.8)

Other income/(expense)

March 2007

27.9

(4.6) (7.7) (5.1) (9.0)

17.2

December

2006

(17.1)

(42.9) (10.8) (9.5) (11.3)

(11.3)

Financial year to date

(6.0)

(74.2) (27.3) (21.9) (30.9)

5.9

Profit before taxation

March 2007

1,219.6

745.6 382.6 259.3 130.6

(26.9)

December

2006

1,242.0

721.4 316.8 245.9 173.7

(15.0)

Financial year to date

3,782.6

2,323.5 1,057.9 813.5 494.0

(41.9)

Mining and income taxation

March 2007

408.4

235.7 129.9 61.6 50.3

(6.1)

December 2006

423.2

229.6 104.1 62.9 67.9

(5.3)

Financial year to date

1,308.5

768.1 356.8 231.4 191.3

(11.4)

- Normal taxation

March 2007

222.2

129.4 99.1 30.2 0.1

December

2006

205.3

75.3 75.1 0.1 0.1

Financial year to date

673.8

317.6 287.0 30.4 0.2

- Deferred taxation

March 2007

186.2

106.3 30.8 31.4 50.2

(6.1)

December

2006

217.9

154.3 29.0 62.8 67.8

(5.3)

Financial year to date

634.7

450.5 69.8

201.0 191.1 (11.4)

Profit before exceptional items

March 2007

811.2

509.9 252.7 197.7 80.3

(20.8)

December 2006

818.8

491.8 212.7 183.0 105.8

(9.7)

Financial year to date

2,474.1

1,555.4 701.1 582.1 302.7

(30.5)

Exceptional items

March 2007

71.9

10.5 -

0.6

0.5 9.4

December

2006

7.9

2.9 0.8 - 2.1

Financial year to date

88.1

21.6 5.3 0.6 6.3

9.4

Net profit

March 2007

883.1

520.4 252.7 198.3 80.8

(11.4)

December

2006

826.7

494.7 213.5 183.0 107.9

(9.7)

Financial year to date

2,562.2

1,577.0 706.4 582.7 309.0

(21.1)

March 2007

835.8

513.9 252.9 198.0 80.5

(17.5)

December 2006

822.0

493.0 213.1 183.0 106.6

(9.7)

Net profit excluding gains and losses on
foreign exchange and exceptional items

Financial year to date

2,517.1

1,563.5 703.3 582.3 305.1

(27.2)

Capital expenditure

March 2007

1,004.9

591.2 195.9 192.5 124.0

78.8

December 2006

1,025.8

564.7 177.4 190.7 156.1

40.5

Financial year to date

2,852.5

1,588.7 517.1 566.9 385.4

119.3

Planned for next six months to September 2007

2,948.5

1,591.0 557.9 402.8 314.3

316.0

+ The acquisition of South Deep is effective from 1 December 2006.

GOLD FIELDS RESULTS Q3F2007

O p e r a t i n g a n d f i n a n c i a l r e s u l t s

International Operations

Ghana

Venezuela Australia

South African Rand

Total

Tarkwa

Damang

Choco 10

St Ives

Agnew

Operating Results

Ore milled/treated (000 tons)

March 2007

9,538 5,895 1,384

191 1,744

324

December

2006

9,331 5,588 1,326

357 1,742

318

Financial year to date

28,048 16,997 4,027

854

5,184

986

Yield (grams per ton)

March 2007

1.3 0.9 1.1 1.3 2.1 4.5

December 2006

1.4 1.0 1.2 2.0 2.2 5.2

Financial year to date

1.4 1.0 1.1 1.7 2.2 5.0

Gold produced (kilograms)

March 2007

12,348 5,420 1,508

256 3,715 1,449

December

2006

13,402 5,562 1,605

709 3,876 1,650

Financial year to date

38,839 16,381 4,621 1,469 11,428

4,940

Gold sold (kilograms)

March 2007

12,348 5,420 1,508

256 3,715 1,449

December

2006

13,402 5,562 1,605

709 3,876 1,650

Financial year to date

38,871 16,381 4,621 1,501 11,428

4,940

Gold price received (Rand per kilogram)

March 2007

150,745 150,738 150,398 152,344 150,713 150,932

December

2006

145,090 144,966 145,171 142,877 144,788 147,091

Financial year to date

145,811 146,005 145,834 142,372 145,686 146,478

Total cash costs (Rand per kilogram)

March 2007

88,881 82,454

105,305 133,203 92,974 77,502

December

2006

83,338 76,537

106,106 100,987 89,706 61,576

Financial year to date

85,130 79,171

103,852 107,728 93,533 61,073

Total production costs (Rand per kilogram)

March 2007

113,589 95,055

111,008 160,547

131,468

December

2006

107,193 88,709

112,087 120,451

122,675

Financial year to date

109,009 91,576

109,327 130,113

124,432

Operating costs (Rand per ton)

March 2007

121 79

116 338 189 410

December

2006

126 81

125 220 214 343

Financial year to date

123 79

116 249 211 334

Financial Results (Rand million)

Revenue

March 2007

1,861.4 817.0 226.8 39.0

559.9 218.7

December

2006

1,944.5 806.3 233.0 101.3

561.2 242.7

Financial year to date

5,667.8 2,391.7 673.9

213.7

1,664.9

723.6

Operating costs

March 2007

1,153.2 465.8 160.2 64.6

329.6 133.0

December

2006

1,180.0 454.4 165.8 78.4

372.2 109.2

Financial year to date

3,452.8 1,348.7 468.4

212.6

1,093.8

329.3

Gold inventory change

March 2007

(46.1) (19.6) 1.3 (19.8)

28.4 (36.4)

December

2006

(67.9) (29.1) 2.9 (0.3)

(23.9) (17.5)

Financial year to date

(132.3) (53.2) 12.1 (24.2)

(15.3) (51.7)

Operating profit

March 2007

754.3 370.8 65.3 (5.8)

201.9 122.1

December

2006

832.4 381.0 64.3 23.2

212.9 151.0

Financial year to date

2,347.3 1,096.2 193.4

25.3

586.4

446.0

Amortisation of mining assets

March 2007

312.8 70.5 8.8 7.0

226.5

December 2006

337.6 71.0 9.8 13.9

242.9

Financial year to date

956.4 209.3 25.6 33.6

687.9

Net operating profit

March 2007

441.5 300.3 56.5 (12.8)

97.5

December

2006

494.8 310.0 54.5

9.3

121.0

Financial year to date

1,390.9 886.9 167.8 (8.3)

344.5

Other income/(expense)

March 2007

32.5 (0.4) (0.7) (1.0)

34.6

December 2006

25.8 2.1 0.5 1.8

21.4

Financial year to date

68.2 (5.7)

- 6.9

67.0

Profit before taxation

March 2007

474.0 299.9 55.8 (13.8)

132.1

December

2006

520.6 312.1 55.0 11.1

142.4

Financial year to date

1,459.1 881.2 167.8 (1.4)

411.5

Mining and income taxation

March 2007

172.7 92.6 19.0 (7.0)

68.1

December 2006

193.6 95.5 21.3 17.5

59.3

Financial year to date

540.4 274.3 59.5 24.6

182.0

- Normal taxation

March 2007

92.8 65.3 6.6 1.3

19.6

December

2006

130.0 85.3 11.0 12.1

21.6

Financial year to date

356.2 241.7 26.5 27.5

60.5

- Deferred taxation

March 2007

79.9 27.3 12.4 (8.3)

48.5

December

2006

63.6 10.2 10.3 5.4

37.7

Financial year to date

184.2 32.6 33.0 (2.9)

121.5

Profit before exceptional items

March 2007

301.3 207.3 36.8 (6.8)

64.0

December 2006

327.0 216.6 33.7 (6.4)

83.1

Financial year to date

918.7 606.9 108.3 (26.0)

229.5

Exceptional items

March 2007

61.4 - - -

61.4

December

2006

5.0 - - -

5.0

Financial year to date

66.5 - - -

66.5

Net profit

March 2007

362.7 207.3 36.8 (6.8)

125.4

December

2006

332.0 216.6 33.7 (6.4)

88.1

Financial year to date

985.2 606.9 108.3 (26.0)

296.0

March 2007

321.9 208.1 37.1 (6.8)

83.5

December 2006

329.0 217.5 34.1 (6.4)

83.8

Net profit excluding gains and losses on
foreign exchange and exceptional items

Financial year to date

953.6 616.6 111.8 (26.0)

251.2

Capital expenditure

March 2007

413.7 151.5 64.6 16.8

148.2

32.6

December 2006

461.1 188.5 52.5 37.9

126.3

55.9

Financial year to date

1,263.8 430.2 165.2 131.9

390.8 145.7

Planned for next six months to September 2007

1,357.5 758.9 116.6 110.9

319.0

52.1

GOLD FIELDS RESULTS Q3F2007

O p e r a t i n g a n d f i n a n c i a l r e s u l t s

South African Operations

United States Dollars

Total Mine

Operations

Total Driefontein Kloof Beatrix

South Deep

Operating Results

Ore milled/treated (000 tons)

March 2007

13,382

3,844 1,634 920 807

483

December

2006

13,109

3,778 1,673 986 935

184

Financial year to date

39,349

11,301 5,010 2,898 2,726

667

Yield (ounces per ton)

March 2007

0.079

0.171 0.154 0.239 0.148 0.138

December 2006

0.083

0.173 0.148 0.234 0.160 0.146

Financial year to date

0.082

0.173 0.151 0.239 0.153 0.140

Gold produced (000 ounces)

March 2007

1,054.1

657.1 251.2 220.0 119.2

66.7

December

2006

1,085.2

654.3 247.3 230.6 149.5

26.9

Financial year to date

3,209.4

1,960.7 756.0 693.3 417.8

93.7

Gold sold (000 ounces)

March 2007

1,062.1

665.1 251.2 220.0 119.2

74.6

December

2006

1,080.2

649.3 247.3 230.6 149.5

21.9

Financial year to date

3,213.4

1,963.6 756.0 693.3 417.8

96.5

Gold price received (dollars per ounce)

March 2007

652

653 655 651 655 649

December

2006

609

607 608 609 604 598

Financial year to date

628

628 628 626 626 639

Total cash costs (dollars per ounce)

March 2007

399

408 356 389 429 608

December

2006

353

354 344 354 338 564

Financial year to date

367

368 346 361 364 600

Total production costs (dollars per ounce)

March 2007

483

480 424 469 472 711

December

2006

440

433 413 444 421 621

Financial year to date

453

443 414 445 435 692

Operating costs (dollars per ton)

March 2007

73 57 97 67 87

December

2006

64 53 86 57 83

Financial year to date

67 55 90 59 86

Financial Results ($ million)

Revenue

March 2007

692.6

434.2 164.6 143.3 78.1

48.3

December

2006

657.6

394.1 150.3 140.2 90.3

13.4

Financial year to date

2,016.7

1,232.7 475.1 434.3 261.7

61.7

Operating costs

March 2007

438.9

279.0 93.9 89.2 53.8 42.0

December

2006

403.4

243.5 89.5 85.2 53.1 15.6

Financial year to date

1,231.5

753.9 274.9 261.1 160.2

57.6

Gold inventory change

March 2007

(1.6)

4.8 - - - 4.8

December

2006

(12.3)

(3.0) - - -

(3.0)

Financial year to date

(16.5)

1.8 - - - 1.8

Operating profit

March 2007

255.3

150.4 70.6 54.0 24.3

1.5

December

2006

266.5

153.7 60.8 54.9 37.2

0.8

Financial year to date

801.7

477.0 200.1 173.1 101.5

2.3

Amortisation of mining assets

March 2007

90.0

46.6 16.5 17.5 5.0

7.6

December 2006

96.2

50.4 16.6 20.5 12.0

1.3

Financial year to date

277.7

145.4 50.0 57.6 28.9

8.9

Net operating profit

March 2007

165.3

103.8 54.1 36.5 19.3 (6.1)

December

2006

170.3

103.3 44.2 34.4 25.1 (0.5)

Financial year to date

524.0

331.6 150.1 115.5 72.6 (6.6)

Other income/(expenses)

March 2007

3.9

(0.7) (1.1) (0.7) (1.3)

2.4

December 2006

(2.4)

(5.9) (1.5) (1.3) (1.5) (1.6)

Financial year to date

(0.8)

(10.3) (3.8) (3.0) (4.3)

0.8

Profit before taxation

March 2007

169.2

103.2 53.0 35.8 18.0 (3.7)

December

2006

167.9

97.3 42.7 33.1 23.6 (2.1)

Financial year to date

523.2

321.4 146.3 112.5 68.3 (5.8)

Mining and income taxation

March 2007

56.7

32.5 17.9 8.5 7.0 (0.9)

December

2006

57.1

30.9 14.6 8.4 9.2 (0.7)

Financial year to date

181.0

106.2 49.3 32.0 26.5 (1.6)

- Normal taxation

March 2007

30.9

17.9 13.7 4.2

December

2006

27.7

10.1 10.1

Financial year to date

93.2

43.9 39.7 4.2

- Deferred taxation

March 2007

25.8

14.6 4.3 4.3 6.9 (0.9)

December

2006

29.4

20.8 4.0 8.4 9.2 (0.7)

Financial year to date

87.8

62.3 9.7 27.8 26.4 (1.6)

Profit before exceptional items

March 2007

112.5

70.7 35.1 27.3 11.1 (2.8)

December 2006

110.8

66.5 28.6 24.7 14.4 (1.3)

Financial year to date

342.2

215.2 97.0 80.5 41.9 (4.2)

Exceptional items

March 2007

10.0

1.5 -

0.1

0.1 1.3

December 2006

1.1

0.4 0.1 - 0.3

Financial year to date

12.2

3.0 0.7 0.1 0.9 1.3

Net profit

March 2007

122.5

72.1 35.1 27.4 11.1 (1.5)

December 2006

111.9

66.9 28.8 24.7 14.7 (1.3)

Financial year to date

354.4

218.1 97.7 80.6 42.7 (2.9)

March 2007

113.3

68.7 33.9 27.4 9.8 (2.4)

December 2006

111.1

66.6 28.7 24.7 14.5 (1.3)

Net profit excluding gains and losses on
foreign exchange and exceptional items

Financial year to date

348.1

216.3 97.3 80.5 42.2 (3.8)

Capital expenditure

March 2007

139.1

81.8 27.1 26.6 17.2 10.9

December 2006

139.5

76.8 24.1 25.8 21.3

5.6

Financial year to date

394.5

219.7 71.5 78.4 53.3 16.5

Planned for next six months to September 2007

409.5

221.0 77.5 55.9 43.7 43.9

Average exchange rates were US$1 = R7.21 and US$1 = R7.38 for the March 2007 and December 2006 quarters respectively. The Australian Dollar exchange rates were A$1 = R5.66 and A$1 = R5.66 for the March 2007 and December 2006 quarters respectively. # As a significant portion of the acquisition price was allocated to tenements of St Ives and Agnew on endowment ounces and also as these two Australian operations are entitled to transfer and then off-set tax losses from one company to another, it is not meaningful to split the income statement below operating profit. Figures may not add as they are rounded independently. + The acquisition of South Deep is effective from 1 December 2006.

GOLD FIELDS RESULTS Q3F2007

O p e r a t i n g a n d f i n a n c i a l r e s u l t s

International Operations

Australian Dollars

Ghana

Venezuela

Australia #

United States Dollars

Total

Tarkwa

Damang

Choco 10

St Ives

Agnew

St Ives

Agnew

Operating Results

Ore milled/treated (000 tons)

March 2007

9,538 5,895 1,384 191

1,744 324

December

2006

9,331 5,588 1,326 357

1,742 318

Financial year to date

28,048

16997 4027 854

5184 986

Yield (ounces per ton)

March 2007

0.042 0.030 0.035 0.043

0.068 0.144

December 2006

0.046 0.032 0.039 0.064

0.072 0.167

Financial year to date

0.045 0.031 0.037 0.055

0.071 0.161

Gold produced(000 ounces)

March 2007

397.0 174.3 48.5

8.2

119.4 46.6

December

2006

430.9 178.8 51.6 22.8

124.6 53.0

Financial year to date

1,248.7 526.7 148.6 47.2

367.4 158.8

Gold sold (000 ounces)

March 2007

397.0 174.3 48.5

8.2

119.4 46.6

December

2006

430.9 178.8 51.6 22.8

124.6 53.0

Financial year to date

1,249.7 526.7 148.6 48.3

367.4 158.8

Gold price received

March 2007

650 650 649 657

650 651

828 829

(dollars per ounce)

December 2006

611 611 612 602

610 620

796 808

Financial year to date

627 628 627 612

627 630

815 819

Total cash costs

March 2007

383 356 454 575

401 334

511 426

(dollars per ounce)

December 2006

351 323 447 426

378 260

493 338

Financial year to date

366 341 447 463

402 263

523 342

Total production costs

March 2007

490 410 479 693

567

722

(dollars per ounce)

December 2006

452 374 472 508

517

674

Financial year to date

469 394 470 560

535

696

Operating costs

March 2007

17 11 16 47

26 57

33 73

(dollars per ton)

December 2006

17 11 17 30

29 47

38 61

Financial year to date

17 11 16 34

29 46

38 60

Financial Results ($ million)

Revenue

March 2007

258.3 113.3 31.4

5.5 77.7 30.5

99.2 38.6

December

2006

263.5 109.3 31.6 13.8 76.0 32.8

99.1 42.8

Financial year to date

783.9 330.8 93.2 29.6

230.3 100.1

299.4 130.1

Operating costs

March 2007

160.0 64.5 22.2 9.0

45.8 18.4

58.2 23.6

December

2006

159.9 61.6 22.5 10.6

50.3 14.8

65.6 19.4

Financial year to date

477.6 186.5 64.8 29.4

151.3 45.5

196.7 59.2

Gold inventory change

March 2007

(6.5) (2.8) 0.2 (2.7) 3.9 (5.1)

5.1 (6.5)

December

2006

(9.3) (4.0) 0.4

(3.2) (2.4)

(3.8) (3.2)

Financial year to date

(18.3) (7.4) 1.7 (3.3)

(2.1) (7.2)

(2.8) (9.3)

Operating profit

March 2007

104.9 51.5 9.0 (0.8)

28.0 17.1

35.9 21.5

December

2006

112.9 51.7 8.7 3.2

28.9 20.4

37.3 26.6

Financial year to date

324.7 151.6 26.7

3.5 81.1 61.7

105.5 80.2

Amortisation of mining assets

March 2007

43.4 9.8 1.2 0.9

31.3

40.1

December

2006

45.8 9.6 1.3 1.9

33.0

41.8

Financial year to date

132.3 28.9 3.5 4.6

95.1

123.7

Net operating profit

March 2007

61.5 41.7 7.8 (1.7)

13.7

17.3

December

2006

67.1 42.1 7.4 1.3

16.4

22.1

Financial year to date

192.4 122.7 23.2 (1.1)

47.6

62.0

Other income/(expenses)

March 2007

4.5 (0.1) (0.1) (0.1)

4.9

6.3

December

2006

3.5 0.3 0.1 0.2

2.9

3.8

Financial year to date

9.4 (0.8)

- 1.0

9.3

12.1

Profit before taxation

March 2007

66.0 41.6 7.7 (1.9)

18.6

23.5

December

2006

70.6 42.4 7.4 1.5

19.3

25.9

Financial year to date

201.8 121.9 23.2 (0.2)

56.9

74.0

Mining and income taxation March

2007

24.1 12.9 2.6 (0.9)

9.5

12.2

December

2006

26.2 13.0 2.8 2.4

8.0

10.7

Financial year to date

74.7 37.9 8.2 3.4

25.2

32.8

- Normal taxation

March 2007

13.0 9.1 0.9 0.2

2.8

3.5

December

2006

17.6 11.5 1.5 1.6

2.9

3.8

Financial year to date

49.3 33.4 3.7 3.8

8.4

10.9

- Deferred taxation

March 2007

11.2 3.8 1.8

(1.1)

6.7

8.7

December

2006

8.6 1.4 1.3 0.7

5.1

6.9

Financial year to date

25.5 4.5 4.6

(0.4)

16.8

21.9

Profit before exceptional items

March 2007

41.9 28.6 5.1 (1.0)

9.1

11.4

December 2006

44.4 29.4 4.6 (0.9)

11.2

15.2

Financial year to date

127.1 83.9 15.0 (3.6)

31.7

41.3

Exceptional items

March 2007

8.5 - - -

8.5

11.0

December 2006

0.7 - - -

0.7

0.9

Financial year to date

9.2 - - -

9.2

11.9

Net profit

March 2007

50.4 28.6 5.1 (1.0)

17.6

22.4

December 2006

45.1 29.4 4.6 (0.9)

11.9

16.1

Financial year to date

136.3 83.9 15.0 (3.6)

40.9

53.2

March 2007

44.6 28.6 5.1 (1.0)

11.8

22.4

December 2006

44.5 29.5 4.6 (0.9)

11.4

15.3

Net profit excluding gains and
losses on foreign exchange and

exceptional items

Financial year to date

131.8 85.3 15.5 (3.6)

34.8

45.2

Capital expenditure

March 2007

57.3 21.0 8.9 2.3 20.6 4.5

26.4 5.7

December 2006

62.6 25.8 7.1 5.0 17.1 7.6

22.3 9.9

Financial year to date

174.8 59.5 22.8 18.2 54.1

20.2

70.3 26.2

Planned for next six months to September 2007

188.5 105.4 16.2 15.4 44.3 7.2

55.0 9.0

GOLD FIELDS RESULTS Q3F2007

U n d e r g r o u n d a n d s u r f a c e

South African Rand and Metric Units

South African Operations

International Operations

Ghana Venezuela Australia

Operating Results

Total Mine

Operations

Total Driefontein

Kloof Beatrix

South

Deep+

Total

Tarkwa

Damang

Choco 10

St Ives

Agnew

Ore milled / treated (000 ton)

- underground

March 2007

3,317 2,897 930 851 807 309 420 - - -

319

101

December

2006

3,308 2,866 937 893 935 101 442 - - -

348

Financial year to date

9,941 8,563 2,831 2,596 2,726 410 1,378 - -

1,063

315

- surface

March 2007

10,065 947 704 69

- 174

9,118 5,895 1,384 191 1,425 223

December 2006

9,801 912 736 93

- 83

8,889 5,588 1,326 357 1,394 224

Financial year to date

29,408 2,738 2,179 302

- 257 26,670 16,997 4,027

854 4,121

671

- total

March 2007

13,382 3,844 1,634 920 807 483 9,538 5,895 1,384 191 1,744 324

December 2006

13,109 3,778 1,673 986 935 184 9,331 5,588 1,326 357 1,742 318

Financial year to date

39,349

11,301 5,010 2,898 2,726 667 28,048 16,997 4,027

854 5,184

986

Yield (grams per ton)

- underground

March 2007

6.6 6.7 7.6 8.0 4.6 6.1 5.8 - - -

4.8

9.1

December

2006

6.8 6.8 7.5 7.8 5.0 7.7 6.8 - - -

5.3

12.7

Financial year to date

6.7 6.8 7.5 8.2 4.8 6.5 6.3 - -

4.8

11.3

- surface

March 2007

1.1 1.0 1.0 1.0 - 1.0 1.1 0.9 1.1 1.3 1.5 2.4

December

2006

1.2 1.0 0.9 2.1 - 0.7 1.2 1.0 1.2 2.0 1.5 2.0

Financial year to date

1.1 1.0 1.0 1.3 - 0.9 1.1 1.0 1.1 1.7 1.5 2.1

- combined

March 2007

2.5 5.3 4.8 7.4 4.6 4.3 1.3 0.9 1.1 1.3 2.1 4.5

December 2006

2.6 5.4 4.6 7.3 5.0 4.6 1.4 1.0 1.2 2.0 2.2 5.2

Financial year to date

2.5 5.4 4.7 7.4 4.8 4.4 1.4 1.0 1.1 1.7 2.2 5.0

Gold produced (kilograms)

- underground

March 2007

21,926

19,484 7,104 6,773 3,708 1,899 2,442 - - -

1,518

924

December

2006

22,453

19,426 7,016 6,978 4,650 782 3,027 - - -

1,836

1,191

Financial year to date

66,828

58,197 21,348 21,174 12,994 2,681 8,631 - - -

5,079

3,552

- surface

March 2007

10,862 956 710 70

- 176

9,906 5,420 1,508 256 2,197 525

December

2006

11,301 926 676 194

- 56

10,375 5,562 1,605 709 2,040 459

Financial year to date

32,997 2,789 2,167 390

- 232 30,208 16,381 4,621 1,469 6,349 1,388

- total

March 2007

32,788

20,440 7,814 6,843 3,708 2,075 12,348 5,420 1,508 256 3,715 1,449

December 2006

33,754

20,352 7,692 7,172 4,650 838 13,402 5,562 1,605 709 3,876 1,650

Financial year to date

99,825

60,986 23,515 21,564 12,994 2,913 38,839 16,381 4,621 1,469 11,428 4,940

Operating costs (Rand per ton)

- underground

March 2007

648 673 680 748 481 951 475 - - -

416

662

December

2006

593 605 654 696 419

1,078 517 - - -

499

584

Financial year to date

595 616 653 718 425 982 466 - - -

436

564

- surface

March 2007

101

65 64

101 - 54 105 79

116

338

138

296

December

2006

103

66 65 86 - 50 107 81

125

220

143

242

Financial year to date

102

65 64 83 - 53 105 79

116

249

153

226

- total

March 2007

237 523 415 699 481 628 121 79

116

338

189

410

December 2006

227 475 395 638 419 614 126 81

125

220

214

343

Financial year to date

226 482 397 652 425 624 123 79

116

249

211

334

+ The acquisition of South Deep is effective from 1 December 2006.

Restated operating cost per ton on the assumption that Ore Reserve Development (ORD) is fully expensed

South African

Operations

International

Operations

Total Mine

Operations

Total Driefontein

Kloof Beatrix

South

Deep+

Total

- underground

March 2007

723

759 766 861 562 971 475

December

2006

672

696 754 803 479

1,078 517

Financial year to date

668

701 745 826 491 997 466

- surface

March 2007

101

65 64 101 - 54 105

December

2006

103

66 65 86 - 50 107

Financial year to date

102

65 64 83 - 53 105

- total

March 2007

255

588 463 804 562 641 121

December

2006

247

544 451 736 479 614 126

Financial year to date

245

547 448 748 491 633 123

+ The acquisition of South Deep is effective from 1 December 2006.

GOLD FIELDS RESULTS Q3F2007

D e v e l o p m e n t r e s u l t s

Development values represent the actual results of sampling and no allowance has been made for any adjustments which may be necessary
when estimating ore reserves. All figures below exclude shaft sinking metres.

Driefontein

March 2007 quarter

December 2006 quarter

9 months year to date F2007

Reef

Carbon

Leader

Main

VCR

Carbon

Leader

Main VCR

Carbon

Leader

Main VCR

Advanced (m)

4,044

1,159

1,426 4,955 1,025 1,474 13,375 3,008

4,739

Advanced on reef

(m)

726

378

222 851 189 105

2,570 730

573

Sampled (m)

579

303

84 768 123 189

2,289 567

525

Channel width

(cm)

101 88 65 95 68 62

Average value

(g/t)

18.7

5.5

8.1 19.6 10.7 10.9 19.4 7.8 11.4

(cm.g/t)

987

390

814

1,720 696

1,039

1,314 484

998

Kloof

March 2007 quarter

December 2006 quarter

9 months year to date F2007

Reef Libanon

Kloof

Main

VCR Libanon

Kloof

Main

VCR Libanon Kloof

Main

VCR

Advanced (m)

325

1,572

6,594

289 1,729 6,922

28 926 4,888 20,235

Advanced on reef

(m)

468

991 -

288

1,078

127

1,196

3,389

Sampled (m)

408

912 -

261

962

120

1,107

2,853

Channel width

(cm)

102

92 -

156

102

Average value

(g/t)

10.3

8.2

9.5

17.9 -

5.5

6.5

26.7

10.3 6.7 8.4 21.0

- (cm.g/t)

1,026

836

652

1,654 -

417

1,014

1,836 1,026 596 857 1,670

Beatrix

March 2007 quarter

December 2006 quarter

9 months year to date F2007

Reef

Beatrix

Kalkoenkrans Beatrix

Kalkoenkrans

Advanced (m)

8,014

2,350 8,778 2,638 25,158 7,617

Advanced on reef

(m)

1,305

132 1,488 163 4,309 351

Sampled (m)

858

123 1,017

84 3,345 270

Channel width

(cm)

112 103 123 85 121

Average value

(g/t)

7.4

7.1 11.4 8.6 10.7 10.9

- (cm.g/t)

578

800 1,172 1,065 914 1,325

South Deep+

March 2007 quarter

December 2006 quarter

4 months year to date F2007

Reef

VCR

Elsburg VCR

Elsburg

Advanced (m)

199

827 43 323 242

1,150

Advanced on reef

(m)

722 -

251

973

Sampled (m)

- - -

15 -

Channel width

(cm)

118

- - -

118 -

Average value

(g/t)

0.4

6.2

6.6

0.4

6.3

- (cm.g/t)

- - -

42 -

1) Development is traversing thin, single and poorly developed Multiple Band Carbon Leader reef.

2) Development at South shaft is on the margins of the ore body, while North shaft is currently crossing a low grade trend facies.

3) Trackless development in the Elsburg reefs is evaluated by means of the block model.

4) VCR not fully exposed in faulted area.

+ The acquisition of South Deep is effective from 1 December 2006.

GOLD FIELDS RESULTS Q3F2007

A d m i n i s t r a t i o n a n d c o r p o r a t e i n f o r m a t i o n

Corporate Secretary

CAIN FARREL
Telephone: (+27)(11) 644 2525
Facsimile: (+27)(11) 484 0626
e-mail: cain.farrel@goldfields.co.za

Registered offices

JOHANNESBURG
Gold Fields Limited
24 St Andrews Road
Parktown
Johannesburg
2193
Postnet Suite 252
Private Bag x 30500
Houghton 2041
Tel: (+27)(11) 644-2400
Fax: (+27)(11) 484-0626

LONDON
St James ’s Corporate Services Limited
6 St James ’s Place
London SW1A 1NP
United Kingdom
Telephone:(+44)(20) 7499 3916
Facsimile: (+44)(20) 7491 1989

American Depository
Receipts Transfer Agent

Bank of New York
Shareholder Relations
P O Box 11258
New York, NY20286 –1258

US toll-free telephone: (1)(888) 269 2377
e-mail: shareowner-svcs@mail.bony.com

Gold Fields Limited

Incorporated in the Republic of South Africa
Registration number 1968/004880/06
Share code: GFI
Issuer code: GOGOF
ISIN – ZAE 000018123

Investor relations

NERINA BODASING
Telephone: (+27)(11) 644 2630
Facsimile: (+27)(11) 484 0639
e-mail: nerina.bodasing@goldfields.co.za

Media relations

WILLIE JACOBSZ
Telephone: (+27)(11) 644 2460
Facsimile: (+27)(11) 484 0639
e-mail: williej@goldfields.co.za

Transfer Secretaries

South Africa
Computershare Investor Services 2004
(Proprietary) Limited
Ground Floor
70 Marshall Street
Johannesburg, 2001
P O Box 61051
Marshalltown, 2107
Telephone: (+27)(11) 370 5000
Facsimile: (+27)(11) 370 5271

United Kingdom
Capita Registrars
Bourne House
34 Beckenham Road
Beckenham
Kent BR3 4TU
England
Telephone: (+44)(20) 8639 2000
Facsimile: (+44)(20) 8658 3430

WEBSITE
http://www.goldfields.co.za

Forward Looking Statements

Certain statements in this document constitute “forward
looking statements” within the meaning of Section 27A of
the US Securities Act of 1933 and Section 21E of the US
Securities Exchange Act of 1934.

Such forward looking statements involve known and
unknown risks, uncertainties and other important factors
that could cause the actual results, performance or
achievements of the company to be materially different
from the future results, performance or achievements
expressed or implied by such forward looking statements.
Such risks, uncertainties and other important factors
include among others: economic, business and political
conditions in South Africa; decreases in the market price of
gold; hazards associated with underground and surface
gold mining; labour disruptions; changes in government
regulations, particularly environmental regulations; changes
in exchange rates; currency devaluations; inflation and
other macro-economic factors; and the impact of the AIDS
crisis in South Africa. These forward looking statements
speak only as of the date of this document.

The company undertakes no obligation to update publicly
or release any revisions to these forward looking
statements to reflect events or circumstances after the date
of this document or to reflect the occurrence of
unanticipated events.

Gold Fields Limited
Incorporated in the Republic of South Africa
Registration number 1968/004880/06
Share code:

GFI

Issuer code:

GOGOF

ISIN: ZAE 000018123

Directors

A J Wright (Chairman)
I D Cockerill * (Chief Executive Officer)
N J Holland * (Chief Financial Officer)
K Ansah#

A Grigorian °
J G Hopwood
G Marcus

J M McMahon *
D M J Ncube
R L Pennant-Rea *

P J Ryan
T M G Sexwale
C I von Christierson

* British

# Ghanaian
° Russian

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.

Date: 3 May 2007

GOLD FIELDS LIMITED

By:

Name: Mr W J Jacobsz
Title: Senior Vice President: Investor

Relations and Corporate Affairs