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Buenaventura Mining Co Inc · 6-K · For 3/3/03

Filed On 4/25/03 7:53pm ET   ·   SEC File 1-14370   ·   Accession Number 1013131-3-8

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 4/28/03  Buenaventura Mining Co Inc        6-K         3/03/03    1:26

Report of a Foreign Private Issuer   ·   Form 6-K
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FORM 6-K

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Report of Foreign Issuer

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

Securities Exchange Act of 1934

For the month of March 2003

BUENAVENTURA MINING COMPANY INC.

(Translation of Registrant's Name into English)

 

CARLOS VILLARAN 790

SANTA CATALINA, LIMA 13, PERU

(Address of Principal Executive Offices)

 

 

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

Form 20-F X Form 40-F ___

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form 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-________________.

 

 

This report consists of consolidated Financial Statements issued by Compañía de Minas Buenaventura S.A.A. and subsidiaries on April 25, 2003, announcing the Company's First Quarter 2003 results

 

 

.

Compañía de Minas Buenaventura S.A.A. and subsidiaries

Interim unaudited consolidated financial information as of March 31, 2003 and for the three-month period then ended

Compañía de Minas Buenaventura S.A.A. and subsidiaries

Interim unaudited consolidated financial information as of

March 31, 2003 and for the three-month

period then ended together with the report of
Independent Auditors

 

 

Content

 

Report of Independent Auditors

Consolidated Financial Statements

Consolidated Balance Sheets

Consolidated Statements of Income

Consolidated Statements of Changes in Shareholders' equity

Consolidated Statements of Cash Flows

Notes to the Consolidated Financial Statements

 

 

To the Shareholders of Compañía de Minas Buenaventura S.A.A.

 

We have made a limited review of the accompanying consolidated balance sheet of Compañía de Minas Buenaventura S.A.A. (a Peruvian company) and subsidiaries (together, "the Company") as of March 31, 2003 and the related consolidated statements of income, changes in shareholders'equity and cash flows for the three-month period then ended, stated in Peruvian nuevos soles. The preparation of these consolidated financial statements is a responsibility of the Company's management.

We conducted our limited review in accordance with auditing standards generally accepted in Peru. A limited review of interim financial information consists principally of applying analytical procedures to financial data and making inquiries to persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the consolidated financial statements taken as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should be made to the interim consolidated financial statements referred to above for them to be in conformity with the accounting principles generally accepted in Peru.

Effective January 1, 2003, the Company has adopted IAS 39 "Financial Instruments - Recognition and Measurement" which effects are described in notes 5 and 12 to the consolidated financial statements.

Countersigned by:

 

 

Víctor Burga

C.P.C. Register No.14859

Lima, Peru

April 22, 2003

Compañía de Minas Buenaventura S.A.A. and subsidiaries

Consolidated Balance Sheets

As of December 31, 2002 (audited) and March 31, 2003 (unaudited)
 

Note

2002

2003

2003
   

S/(000)

S/(000)

US$(000)

  1. Assets
        

  • Current assets
    		•         

    Cash and cash equivalents

    3

    90,642

    109,361

    31,471

    Trade and other accounts receivable, net

    		  

    85,932

    79,330

    22,829

    Accounts receivable from affiliates

    11

    30,661

    30,338

    8,730

    Inventories, net

    4

    74,408

    80,423

    23,143

    Current portion of prepaid taxes and expenses

    		  

    30,860

    36,308

    10,448
       

    _________

    _________

    _________

  • Total current assets
    		•   

    312,503

    335,760

    96,621
             

    Long-term account receivable

    		  

    8,969

    9,456

    2,721

    Prepaid taxes and expenses

    		  

    13,233

    9,500

    2,734

    Investments in shares

    5

    1,184,448

    1,237,043

    355,984

    Property, plant and equipment, net

    		  

    369,352

    368,313

    105,989

    Development costs and mineral lands, net

    		  

    148,194

    151,002

    43,454

    Mining concessions, net

    6

    173,768

    169,627

    48,814
       

    _________

    _________

    _________

  • Total assets
    		•   

    2,210,467

    2,280,701

    656,317
       

    _________

    _________

    _________

  • Liabilities and shareholders' equity, net
    		•         
             

  • Current liabilities
    		•         

    Bank loans

    7

    43,826

    35,205

    10,131

    Trade accounts payable

    		  

    36,344

    27,953

    8,044

    Accounts payable to affiliates

    11

    22

    22

    6

    Dividends payable

    9(e)

    1,343

    43,394

    12,488

    Other current liabilities

    		  

    62,285

    58,941

    16,961

    Current portion of long-term debt

    8

    17,192

    18,643

    5,365
       

    _________

    _________

    _________

  • Total current liabilities
    		•   

    161,012

    184,158

    52,995

  • Derivative instruments
    		•

    12(a)

    -

    335,552

    96,562

  • Deferred income tax and workers' profit sharing
    		•   

    17,464

    16,948

    4,877

    Long-term debt

    8

    113,331

    105,223

    30,280
       

    _________

    _________

    _________

  • Total liabilities
    		•   

    291,807

    641,881

    184,714
       

    _________

    _________

    _________

  • Minority interest
    		•   

    45,986

    65,623

    18,884
       

    _________

    _________

    _________

  • Shareholders' equity, net
    		•

    9

    		      

    Capital stock

    		  

    610,735

    610,735

    175,751

    Investment shares

    		  

    1,652

    1,652

    475

    Additional paid-in capital

    		  

    545,266

    545,266

    156,911

    Legal reserve

    		  

    77,042

    95,416

    27,458

    Retained earnings

    		  

    646,313

    335,579

    96,570

    Cumulative translation adjustment

    		  

    6,961

    (16,192)

    (4,660)

    Unrealized gain on investments in shares carried at fair value

    		  

    -

    16,036

    4,615

    Treasury shares

    		  

    (15,295)

    (15,295)

    (4,401)
       

    _________

    _________

    _________

  • Total shareholders' equity
    		•   

    1,872,674

    1,573,197

    452,719
       

    _________

    _________

    _________

    Total liabilities and shareholders' equity, net

    		  

    2,210,467

    2,280,701

    656,317
       

    _________

    _________

    _________

    Compañía de Minas Buenaventura S.A.A. and subsidiaries

    Consolidated Statements of Income (unaudited)

    For the three-month period ended March 31, 2002 and 2003

    Note

    2002

    2003

    2003

    S/(000)

    S/(000)

    US$(000)

  • Operating revenues
    		•

    Net sales

    126,082

    153,738

    44,241

    Royalty income

    11(a)

    15,325

    24,196

    6,963

    ___________

    ___________

    ___________

  • Total revenues
    		•

    141,407

    177,934

    51,204

    ___________

    ___________

    ___________

    Costs of operation

    Operating costs

    69,940

    67,532

    19,434

    Depreciation

    8,965

    8,308

    2,391

    Exploration and development costs in operational
    mining sites

    12,104

    14,821

    4,265

    ___________

    ___________

    ___________

    Total costs of operation

    91,009

    90,661

    26,090

    ___________

    ___________

    ___________

    Gross margin

    50,398

    87,273

    25,114

    ___________

    ___________

    ___________

  • Operating expenses
    		•

    General and administrative

    15,038

    16,757

    4,822

    Exploration costs in non-operational mining areas

    3,692

    8,667

    2,494

    Sales

    5,522

    4,906

    1,412

    Royalties

    2,990

    4,575

    1,317

    ___________

    ___________

    ___________

  • Total operating expenses
    		•

    27,242

    34,905

    10,045

    ___________

    ___________

    ___________

  • Operating income
    		•

    23,156

    52,368

    15,069

    ___________

    ___________

    ___________

    Other income (expenses)

    Gain from change in the fair value of derivative instruments

    12(a)

    -

    91,620

    26,365

    Share in affiliated companies, net

    5(d)

    30,399

    64,907

    18,678

    Realized gain (loss) on derivative instruments

    12(b)

    15,566

    (1,288)

    (371)

    Interest income

    2,289

    1,186

    341

    Gain from exposure to inflation

    175

    856

    246

    Interest expense

    (4,107)

    (2,310)

    (665)

    Amortization of mining concessions

    6

    (4,120)

    (3,975)

    (1,144)

    Loss from sale of subsidiary's shares

    1(d)

    (6,680)

    -

    -

    Other, net

    (3,849)

    2,662

    766

    ___________

    ___________

    ___________

    Total other income, net

    29,673

    153,658

    44,216

    ___________

    ___________

    ___________

    Income before income tax and minority interest

    52,829

    206,026

    59,285

    Income tax

    (5,772)

    (6,441)

    (1,854)

    ___________

    ___________

    ___________

    Income before minority interest

    47,057

    199,585

    57,431

    Minority interest

    (1,923)

    (13,330)

    (3,836)

    ___________

    ___________

    ___________

  • Net income
    		•

    45,134

    186,255

    53,595

    __________

    __________

    __________

    Basic and diluted earnings per share, stated in Peruvian Nuevos Soles and U.S. dollars

    13

    0.35

    1.46

    0.42
       

    __________

    __________

    __________

    Weighted average number of shares outstanding

    13

    127,225,692

    127,225,692

    127,225,692
       

    __________

    __________

    __________

    Compañía de Minas Buenaventura S.A.A. and subsidiaries

    Consolidated Statements of Changes in Shareholders' Equity (unaudited)

    For the three-month period ended March 31, 2002 and 2003
     

    Capital stock

    		                

    _____________________________

                     
     

    Number of shares

    Common shares

    Investment shares

    Additional paid-in capital

    Legal
    reserve

    Retained earnings

    Cumulative translation adjustment

    Unrealized gain on investments carried at fair value

    Treasury shares

    Total
       

    S/(000)

    S/(000)

    S/(000)

    S/(000)

    S/(000)

    S/(000)

    S/(000)

    S/(000)

    S/(000)
                         

    Balance as of January 1, 2002

    137,444,962

    186,922

    504

    525,585

    37,375

    789,231

    5,964

    -

    (19,418)

    1,526,163

    Declared and paid dividends, net of dividends paid to a subsidiary, note 9(e)

    -

    -

    -

    -

    -

    (27,601)

    -

    -

    -

    (27,601)

    Capitalization of retained earnings, notes 9(a) and (b)

    -

    423,813

    1,148

    -

    -

    (424,961)

    -

    -

    -

    -

    Transfer to legal reserve

    -

    -

    -

    -

    4,621

    (4,621)

    -

    -

    -

    -

    Gain from sale of ADR, note 9(c)

    -

    -

    -

    19,681

    -

    -

    -

    -

    4,123

    23,804

    Cumulative gain for translation of investment in Minera Yanacocha S.R.L.

    -

    -

    -

    -

    -

    -

    4,971

    -

    -

    4,971

    Net income

    -

    -

    -

    -

    -

    45,134

    -

    -

    -

    45,134

    __________

    __________

    __________

    __________

    __________

    __________

    __________

    __________

    __________

    __________
                         

    Balance as of March 31, 2002

    137,444,962

    610,735

    1,652

    545,266

    41,996

    377,182

    10,935

    -

    (15,295)

    1,572,471

    __________

    __________

    __________

    __________

    __________

    _________

    __________

    __________

    __________

    __________
                         

  • Balance as of January 1, 2003

    • 137,444,962

    610,735

    1,652

    545,266

    77,042

    646,313

    6,961

    -

    (15,295)

    1,872,674

  • Declared dividends, note 9(e)
    		•

    -

    -

    -

    -

    -

    (41,759)

    -

    -

    -

    (41,759)

  • Investments kept at fair value, note 5(a)
    		•

    -

    -

    -

    -

    -

    (5,627)

    -

    16,036

    -

    10,409

  • Loss on derivative instruments, note 12(a)
    		•

    -

    -

    -

    -

    -

    (431,229)

    -

    -

    -

    (431,229)

  • Transfer to legal reserve
    		•

    -

    -

    -

    -

    18,374

    (18,374)

    -

    -

    -

    -

  • Cumulative loss for translation of investment in Minera Yanacocha S.R.L.
    		•

    -

    -

    -

    -

    -

    -

    (23,153)

    -

    -

    (23,153)

  • Net income
    		•

    -

    -

    -

    -

    -

    186,255

    -

    -

    -

    186,255

    __________

    __________

    __________

    __________

    __________

    __________

    __________

    __________

    __________

    __________
                         

    Balance as of March 31, 2003

    137,444,962

    610,735

    1,652

    545,266

    95,416

    335,579

    (16,192)

    16,036

    (15,295)

    1,573,197

    __________

    __________

    __________

    __________

    __________

    __________

    __________

    __________

    __________

    __________

     

    Compañía de Minas Buenaventura S.A.A. and subsidiaries

    Consolidated Statements of Cash Flows (unaudited)

    For the three-month period ended March 31, 2002 and 2003

    2002

    2003

    2003

    S/(000)

    S/(000)

    US$(000)

    Operating activities

    Collection from customers

    117,130

    176,414

    50,767

    Collection of royalties

    15,886

    24,083

    6,930

    Collection of interest

    2,275

    2,440

    702

    Payments to suppliers and third parties

    (46,289)

    (76,052)

    (21,885)

    Payments to employees

    (30,491)

    (32,094)

    (9,236)

    Payments of exploration expenditures

    (11,517)

    (19,135)

    (5,506)

    Payments of income tax

    (3,615)

    (10,835)

    (3,118)

    Payments of royalties

    (3,467)

    (6,366)

    (1,832)

    Payments of interest

    (3,527)

    (3,824)

    (1,100)

    ________

    ________

    ________

    Net cash provided by operating activities

    36,385

    54,631

    15,722

    ________

    ________

    ________

  • Investing activities
    		•

    Purchase of plant and equipment

    (18,628)

    (10,816)

    (3,112)

    Proceeds from (payments by) derivative instruments settled

    15,566

    (1,288)

    (371)

    Proceeds from sale of plant and equipment

    2,055

    392

    113

    Development expenditures

    (9,782)

    (7,422)

    (2,136)

    Purchase of investments in shares

    (3,865)

    (1,500)

    (432)

    ________

    ________

    ________

    Net cash used in investing activities

    (14,654)

    (20,634)

    (5,938)

    ________

    ________

    ________

  • Financing Activities
    		•

    Decrease of bank loans, net

    (26,845)

    (8,621)

    (2,481)

    Increase (decrease) of long - term debt, net

    2,216

    (6,657)

    (1,916)

    Proceeds from sale of treasury ADR

    23,804

    -

    -

    ________

    ________

    ________

    Net cash used in financing activities

    (825)

    (15,278)

    (4,397)

    ________

    ________

    ________

    Net increase in cash during the period

    20,906

    18,719

    5,387

    Cash at beginning of period

    86,317

    90,642

    26,084

    ________

    ________

    ________

    Cash at period-end

    107,223

    109,361

    31,471

    ________

    ________

    _______

     

     

     
     

    2002

    2003

    2003
     

    S/(000)

    S/(000)

    US$(000)
           

    Reconciliation of net income to net cash provided by operating activities

    Net income

    45,134

    186,255

    53,595

    Add (deduct)

    		      

    Gain from change in the fair value of derivative instruments

    -

    (91,620)

    (26,365)

    Share in affiliated companies, net

    (30,399)

    (64,907)

    (18,678)

    Depreciation

    9,087

    8,791

    2,530

    Gain from exposure to inflation

    (175)

    (856)

    (246)

    Amortization of development costs in operational mining sites

    4,279

    3,870

    1,114

    Amortization of mining concessions

    4,120

    3,975

    1,144

    Net cost of retired plant and equipment

    -

    1,357

    391

    Loss on sale of plant and equipment

    4,332

    37

    11

    Minority interest

    1,923

    13,330

    3,836

    Deferred income tax

    2,157

    (516)

    (148)

    Loss on sale of investments in shares

    6,680

    -

    -

  • Net changes in assets and liabilities accounts
    		•       

    Decrease (increase) of operating assets -

    		      

    Trade and other accounts receivable

    (24,507)

    8,237

    2,371

    Inventories

    6,246

    (3,594)

    (1,034)

    Prepaid taxes and expenses

    7,724

    (1,715)

    (493)

    Decrease of operating liabilities -

    		      

    Trade and other accounts payable

    (216)

    (8,013)

    (2,306)
     

    ________

    ________

    ________
           

  • Net cash provided by operating activities

    • 36,385

    54,631

    15,722
     

    ________

    ________

    ________

     

     

     

    Compañía de Minas Buenaventura S.A.A. and subsidiaries

    Notes to the interim consolidated financial statements (unaudited)

    As of March 31, 2003 and 2002

    1. Interim unaudited consolidated financial statements
      1. The accompanying interim consolidated financial statements have been prepared from the accounting books and records of Compañía de Minas Buenaventura S.A.A. ("Buenaventura") and subsidiaries (together, "the Company"), which are maintained in nominal Peruvian currency and adjusted to reflect changes in the National Wholesale Price Level Index (IPM). According to such index, prices decreased 0.5 percent and increased 1.1 percent during the three-month period ended March 31, 2002 and 2003, respectively.

    Figures presented in the consolidated financial statements as of December 31, 2002 and for the three-month period ended March 31, 2002 have been inflation adjusted to reflect the change in the National Wholesale Price Index (IPM) at March 31, 2003.

    (b) The criteria and accounting principles used by Management in the following interim consolidated financial statements preparation, which should be read together with the 2002 audited report, are similar to those used in the preparation of Buenaventura's annual consolidated financial statements, except for matters related to the adoption of IAS 39, Recognition and Measurement of Financial Instruments, effective January 1, 2003 (see notes 5 and 12). Additionally, in preparing the interim consolidated financial statements, Management made certain estimates and assumptions; accordingly actual results may differ from those presented in this report.

    (c) Certain figures of the consolidated financial statements as of December 31, 2002 and for the three-month period ended March 31, 2002 have been reclassified to conform to presentation standards adopted for 2003 financial reporting purposes.

    (d) The interim consolidated financial statements include the financial statements of the following subsidiaries:

     

    Ownership percentages as of

    		 
     

    _________________________________________________________

    		  
     

    December 31, 2002

    March 31, 2003

    		  
     

    _________________________

    _________________________

    		  

    Subsidiaries

    Direct

    Indirect

    Direct

    Indirect

    Economic activity
     

    %

    %

    %

    %

    		  
               

    Buenaventura Ingenieros S.A.

    100.00

    -

    100.00

    -

    Advisory and engineering services related to the mining industry.
               

    Cedimin S.A.C.

    -

    100.00

    44.83

    55.17

    Holds investments in S.M.R.L. Chaupiloma Dos de Cajamarca, Minas Conga S.R.L. and other affiliated companies engaged in mining activities.
               

    Compañía Minera Condesa S.A.

    99.99

    -

    99.99

    -

    Holds investments in Buenaventura, Yanacocha and other affiliated companies engaged in mining activities.
               

    Compañía Minera Colquirrumi S.A.

    73.63

    -

    73.63

    -

    Extraction, concentration and commercialization of polymetallic ores, mainly zinc and lead. Currently is also engaged in electric power sales.
               

    Consorcio Energético de Huancavelica S.A.

    100.00

    -

    100.00

    -

    Transmission of electric power to mining companies.
               

    Contacto Corredores de Seguros S.A.

    -

    100.00

    -

    100.00

    Placement of insurance contracts and provision of administrative and technical services in insurance matters.
               

    Inversiones Colquijirca S.A.

    59.02

    -

    59.90

    -

    Extraction, concentration and commercialization of polymetallic ores, mainly zinc and lead, through its subsidiary Sociedad Minera El Brocal S.A.A.
               

    Inversiones Mineras del Sur S.A.

    78.04

    -

    78.04

    -

    Extraction, concentration and commercialization of gold in bars and concentrates.
               

    Metalúrgica Los Volcanes S.A.

    100.00

    -

    100.00

    -

    Treatment of minerals and concentrates.
               

    Minera Paula 49 S.A.C.

    -

    51.00

    -

    51.00

    Extraction, concentration and commercialization of concentrates, primarily gold.
               

    Minas Conga S.R.L.

    -

    60.00

    -

    60.00

    Effective December 19, 2000, this entity transferred to Yanacocha its exploration and exploitation rights to the S.M.R.L. Chaupiloma Dos de Cajamarca's mining concessions.
               

    Minera Shila S.A.C.

    50.00

    50.00

    -

    -

    Extraction, concentration and commercialization of concentrates, primarily gold. This Company was absorbed by Cedimin S.A.C. effective January 2, 2003.
               

    S.M.R.L. Chaupiloma Dos de Cajamarca

    20.00

    40.00

    20.00

    40.00

    Owner of the mining concessions explored and exploited by Yanacocha.

     

    During the first quarter of 2003, the Company purchased 1,572,000 shares of its subsidiary Inversiones Colquijirca S.A. for S/1 per share. As a result of this transaction the Company's ownership in Inversiones Colquijirca S.A. increased from 59.02% as of December 31, 2002 to 59.90% as of March 31, 2003.

    On March 31, 2002, the Company transferred its participation in Minera Huallanca S.A.C. (Huallanca) to BHL - Perú S.A.C., by selling its Huallanca's shares for US$2,000,000. From this amount, US$1,500,000 will be collected in three equal semi-annual installments finishing on September 30, 2004 and the remaining US$500,000 will be collected on September 30, 2006 provided that: (i) the level of economic reserves measured between September 30, 2004 and September 30, 2006 allows Huallanca to produce 15,000 MT/month of mineral and (ii) the average price of zinc is higher than US$1,050/MT in that period. If these conditions are not met, the final price of the transaction will be reduced to US$1,500,000. This transaction has generated a loss amounting to S/6,680,000, assuming a sales price of US$1,500,000, which is separately presented in the consolidated statements of income.

    On April 2, 2002, the Company sold to third parties its participation in Minera Yanaquihua S.A.C. Under the sale agreement, the buyers will pay royalties equal to a percentage of the net sales of Minera Yanaquihua S.A.C.; the royalty payment percentages will be equal to 5% in 2004, 6% in 2005, 7% in 2006 and 8% in 2007. Under the contract, the buyers have an option to forego continued royalty payments and to buy out the annual royalties section of the agreement for an amount equal to US$ 3,000,000; if this option has not been exercised at December 31, 2007, the royalties will increase to 10% of yearly net sales effective January 1st, 2008. The Company's former carrying amount of the investment of S/5,189,000 (US$1,492,000) is shown as a long-term account receivable. No income was recognized on this transaction.

    (e) The interim consolidated financial statements of the Company as of March 31, 2002 and for the three-month period then ended were reviewed by other independent auditors, whose report dated April 23, 2002 expressed that based on their review, they were not aware of any material modifications that should be made to those financial statements.

    2. Convenience Translation of Peruvian Nuevos Soles amounts into
    U.S. dollar amounts

    The consolidated financial statements are stated in Peruvian Nuevos Soles. U.S. dollars amounts are included solely for the convenience of the reader, and were obtained by dividing Peruvian Nuevos Soles amounts by the exchange rate for selling U.S. dollars at March 31, 2003 (S/3.475 to US$1), as published by the Superintendencia de Banca y Seguros (Superintendent of Bank and Insurance, or "SBS"). The convenience translation should not be construed as representation that the amounts of the consolidated financial statements in Peruvian Nuevos Soles have been, or could be converted into U.S. dollars at the foregoing or any other rate of exchange.

    3. Cash and cash equivalents

    (a) This item is made up as follows:

     

    As of

    December 31,

    As of

    March 31,
     

    2002

    2003
     

    S/(000)

    S/(000)
         

    Cash

    1,143

    1,343

    Current demand deposit accounts

    5,887

    13,570

    Saving accounts

    6,786

    -

    Time deposits

    		    

    In local currency

    73,805

    69,804

    In foreign currency

    3,021

    24,644
     

    _________

    _________
         
     

    90,642

    109,361
     

    _________

    _________

    (b) The Company maintains a time deposit in Peruvian currency for S/69,800,000 at an annual interest rate of 5.7 percent with maturity on April 9, 2003.

     

     

    (c) On March 2003, the Company opened time deposits in foreign currency for US$6,000,000 with annual interest rates ranging from 1.10% to 1.25% and maturities between 15 and 30 days.

    4. Inventories, net

    (a) This item is made up as follows:

     

    As of December, 31 2002

    As of
    March 31,
     2003
     

    S/(000)

    S/(000)
         

    Mineral concentrates

    31,669

    37,858

    Supplies

    48,678

    48,504
     

    _________

    _________
     

    80,347

    86,362
         

    Less - Slow moving and obsolescence supplies reserves

    5,939

    5,939
     

    _________

    _________
         
     

    74,408

    80,423
     

    _________

    _________

    In Management's opinion, the reserve above created by current and prior year write-offs, is sufficient to cover the risks of slow moving and obsolete supplies at December 31, 2002 and March 31, 2003.

     

    5. Investments in shares

    This item is made up as follows:

     

    Equity ownership percentage

    Amount

     

    ___________________

    ___________________
     

    As of December31, 2002

    As of March 31, 2003

    As of December 31, 2002

    As of March 31, 2003
     

    %

    %

    S/(000)

    S/(000)

    Investments carried at fair value (a)

    		        

    Sociedad Minera Cerro Verde S. A.

    9.17

    9.17

    19,383

    29,792

    Other

    		    

    4,783

    5,103
         

    _________

    _________
         

    24,166

    34,895
         

    _________

    _________

    Equity method investments

    		        

    Minera Yanacocha S.R.L. (c)

    43.65


    43.65

    1,159,467

    1,201,387

    Sociedad Minera Coshuro de Responsabilidad Limitada

    45.90

    45.90

    815

    761
         

    _________

    _________
         

    1,160,282

    1,202,148
         

    _________

    _________
             
         

    1,184,448

    1,237,043
         

    ________

    ________

    (a) Until December 31, 2002, the Company carried at cost the investments in shares in entities in which its ownership is less than 20 percent, less any impairment recognized as a result of declines in value deemed to be permanent. Effective January 1, 2003, the Company has adopted IAS 39, "Financial Instruments - Recognition and Measurement", which requires that these investments be measured at fair value, and changes in this value be recognized separately in the statement of changes in shareholders' equity. The initial effect on the adoption of this IAS must be recorded as a debit or credit to retained earnings. Accordingly, the Company has recorded a charge of S/5,627,000 to retained earnings, and presents the change in its fair value occurred during the first quarter of 2003 of S/16,036,000 in the caption "unrealized gain on investments in shares carried at fair value" in the consolidated statement of shareholders' equity.

    The Company has determined the fair value as of March 31, 2003 based on the quoted market price of Sociedad Minera Cerro Verde S.A.'s shares as of that date. The Company has not considered the fair value of the other investments due to the effect is not material to the interim consolidated financial statements.

    (b) The amount to be recorded as equity participation in Minera Yanacocha S.R.L (hereinafter, "Yanacocha") was determined from audited financial statements as of December 31, 2002 and unaudited financial statements as of March 31, 2003.

    (c) The calculation of the equity investment in Yanacocha is as follows:

     

    As of March 31,
     

    _______________________
     

    2002

    2003
     

    S/(000)

    S/(000)
         

    Yanacocha shareholders' equity at beginning

    1,808,431

    2,414,002

    Participation percentage

    43.65%

    43.65%
     

    _________

    _________

    Company's participation in Yanacocha equity as of January 1st

    789,380

    1,053,712

    Payment over the book value of Yanacocha's shares, net of cumulative amortization (i)

    125,461

    117,213

    Elimination of intercompany gains (ii)

    (12,441)

    (11,458)
     

    _________

    _________

    Balance of investment as of January 1st

    902,400

    1,159,467

    Participation in Yanacocha income

    32,716

    66,791

    Amortization of payment above the book value of Yanacocha's shares (i)

    (2,484)

    (2,035)

    Realization of intercompany gains (ii)

    199

    317

    Cumulative translation effect

    4,971

    (23,153)

    Other

    (2,977)

    -
     

    _________

    _________

    Balance as of March 31,

    934,825

    1,201,387
     

    _________

    _________

    (i) Corresponds to a premium paid over the book value of Yanacocha shares in previous years, in connection with the Company's acquisition of an additional 11.35 percent interest in Yanacocha, through exercise of its preferential rights.

    (ii) The elimination of related inter-company gains corresponds to profits generated in past years, and is presented net of the investment in Yanacocha for reporting purposes. The Company increases the investment and recognizes a gain in the share in affiliated companies as Yanacocha depreciates and amortizes the acquired assets.

    (d) The amount recognized in the consolidated statements of income as "share in affiliated companies, net" is made up as follows:

     

    For the three-month period

    ended as of March 31,
     

    _____________________________
     

    2002

    2003
     

    S/(000)

    S/(000)
         

    Minera Yanacocha S.R.L.

    30,431

    65,073

    Other

    (32)

    (166)
     

    _________

    _________
         
     

    30,399

    64,907
     

    _________

    _________

    The share in Yanacocha's income has increased in the three-month period ended March 31, 2003, as compared to the same period of 2002, due mainly to the following reasons: (i) the increase of the realized gold price from US$290 per ounce during the three-month period ended March 31, 2002 to US$352 per ounce during the three-month period ended March 31, 2003, (ii) increase of the volume of ounces of gold sold from 483,201 during the three-month period ended March 31, 2002 to 652,655 during the three-month period ended March 31, 2003, and (iii) decrease of cash cost per ounce from US$146 during the three-month period ended March 31, 2002 to US$134 during the three-month period ended March 31, 2003. Increased revenues have been partially offset by an increase in asset retirement and restoration obligations of US$36 million (Buenaventura equity participation of US$16 million).

    (e) Presented below is selected information about Yanacocha, the Company's most significant investment:

    Economic activity -

    Yanacocha is engaged in the exploration for and exploitation of gold in the open pit mines of Carachugo, San José, Maqui Maqui, Cerro Yanacocha and La Quinua; all mines are located in the department of Cajamarca, Peru.

    Summary financial information based on the Yanacocha financial statements -

    Presented below is certain summary financial information extracted from the Yanacocha financial statements and adjusted to conform to accounting practices and principles of the Company:

    Summary data from the Yanacocha balance sheet as of December 31, 2002 (audited) and March 31, 2003 (unaudited):

     

    2002

    2003
     

    US$(000)

    US$(000)
         

    Total assets

    1,055,280

    1,199,409

    Total liabilities

    374,755

    475,345

    Shareholders' equity

    680,525

    724,064

    Summary data from the Yanacocha statements of income for the three-month period ended March 31, 2002 and 2003 (unaudited) :

     

    2002

    2003
     

    US$(000)

    US$(000)
         

    Total revenues

    140,303

    230,041

    Operating income

    26,710

    70,169

    Net income

    20,846

    43,606

     

    6. Mining concessions, net

    Corresponds to the amount paid over the fair value of net assets as a result of the additional purchase of ownerships in subsidiaries. Movements within the mining concession cost and accumulated amortization accounts were as follows:

     

    Balance
    as of December 31, 2002

    Additions

    Retirements

    Balance

    as of

    March 31, 2003
     

    S/(000)

    S/(000)

    S/(000)

    S/(000)
     

    		     

    1. Cost
    		        

    Cedimin S.A.C.

    166,128

    -

    -

    166,128

    Inversiones Colquijirca S.A.

    40,132

    -

    -

    40,132

    Consorcio Energético de Huancavelica S.A.

    8,609

    -

    -

    8,609

    Sociedad Minera
    El Brocal S.A.A.

    5,409

    -

    (166)

    5,243
     

    _________

    _________

    _________

    _________
     

    220,278

    -

    (166)

    220,112
     

    _________

    _________

    _________

    _________
             

    Accumulated amortization

         		       

    Cedimin S.A.C.

    30,416

    2,572

    -

    32,988

    Inversiones Colquijirca S.A.

    14,213

    1,035

    -

    15,248

    Consorcio Energético de Huancavelica S.A.

    955

    213

    -

    1,168

    Sociedad Minera
    El Brocal S.A.A.

    926

    155

    -

    1,081
     

    _________

    _________

    _________

    _________
     

    46,510

    3,975

    -

    50,485
     

    _________

    _________

    _________

    _________
             

    Net cost

    173,768

    		    

    169,627
     

    _________

    		    

    _________

     

     

     

    7. Bank loans

    Bank loans, contracted in U.S. dollars, are as follows:

     

    Annual

    interest rate

    As of
    December 31,
    2002

    As of
    March 31,
    2003
       

    S/(000)

    S/(000)
           

    Sociedad Minera
    El Brocal S.A.A.

    		      

    Banco de Crédito del Perú

    Ranging from 3.68% to 4.45%

    10,661

    4,795

    Banco Wiese Sudameris

    5.27%

    4,922

    3,875

    Banco Internacional del Perú - Interbank

    Ranging from 5.18% to 5.32%

    7,107

    5,352

    Banco Interamericano de Finanzas - BIF

    Ranging from 4.32% to 4.48 %

    3,127

    -
           

    Inversiones Mineras del
    Sur S.A.

    		      

    Banco Wiese Sudameris

    3.38%

    7,722

    -

    Banco Wiese Sudameris

    3.88%

    6,397

    -

    Banco de Crédito del Perú

    Ranging from 2.62% to 3.07%

    3,554

    19,808
           

    Other subsidiaries

    		  

    336

    1,375
       

    _______

    _______
           
       

    43,826

    35,205

    ________

    ________

    Bank loans were obtained to finance working capital needs and have short-term maturities. Loans obtained by Sociedad Minera El Brocal S.A.A. are guaranteed by the related shipments of lead and zinc concentrates inventories. The other bank loans do not have specific guarantees.

    8. Long term debt

    (a) Long-term debt is composed of the following loans, principally denominated in U.S. dollars:

     

    Guarantee

    Annual interest rate

    Maturity rate

    As of
    December 31, 2002

    As of
    March 31,
    2003
           

    S/(000)

    S/(000)
               

    Inversiones Mineras del Sur S.A.

    		         

    Banco de Crédito del Perú (i)

    Guaranteed by Buenaventura

    4.50%

    January 2008

    71,075

    69,500
               

    Consorcio Energético de Huancavelica S.A.

    		         

    BBVA Banco Continental

    Guaranteed by Buenaventura

    Libor plus 1.20%
    (2.866% as of
    March 31, 2003)

    April 2005

    33,109

    28,900
               

    Sociedad Minera El Brocal S.A.A.

    		          

    Banco de Crédito del Perú

    No specific guarantees

    Libor plus 3.75%
    (5.029% as of March 31, 2003)

    September 2006

    19,546

    19,111
               

    Teck Cominco Metals Ltd. (ii)

    No specific guarantees

    Libor plus 6.00%
    (7.279% as of March 31, 2003)

    December 2006

    6,007

    5,819

    Other

    		      

    786

    536
               
               
           

    _________

    _________
           

    130,523

    123,866
               

    Less Current portion

    		      

    17,192

    18,643
           

    _________

    _________
               

    Long-term portion

    		      

    113,331

    105,223
           

    _________

    _________

      1. This note contains a quarterly roll over provisión, has a final maturity date in 2006 and is fully guaranteed by Buenaventura. In January 2003, this loan was rolled over and an annual interest rate of 4.50% was established.
      2. This loan is subordinated to the obligations established in the loan agreement signed with Banco de Crédito del Perú, see (i).

     

    (b) The long-term debt maturity schedule of the non-current portion of long-term debt is as follows:

    Year ended March 31,

    Amount
     

    S/(000)
       

    2005

    22,095

    2006

    9,240

    2007

    4,388

    2008

    69,500
     

    _________
       
     

    105,223
     

    _________

    9. Shareholders' equity

    (a) Capital stock -

    As of March 31, 2003 the capital stock is made up as follows:

     

    Nominal
    value

    Restatement for inflation effect

    Total
     

    S/(000)

    S/(000)

    S/(000)
           

    Capital stock

    549,780

    60,955

    610,735
     

    ________

    _______

    ______

    The Mandatory Annual Shareholders' meeting held on March 26, 2002 decided to increase the Company's capital stock from S/137,444,962 to S/549,779,848 (from S/186,922,000 to S/610,735,000, in constant values as of March 31, 2003) through the capitalization of a portion of retained earnings as of December 31, 2001, and by increasing the nominal value of the common shares - Series A and B from S/1 to S/4. From the capitalized amount of S/412,334,886 (S/423,813,000 in constant values as of March 31, 2003),

    S/129,266,262 corresponds to common shares - Series A and S/283,068,624 to common shares - Series B.

     

    The Shareholders' Meeting held on April 30, 2002 approved the re-designation of common shares - Series B as common shares - Series A, and then immediately approved the re-designation of common shares Series A as common shares. Both decisions were effective May 3, 2002, at which date the Company's capital stock is comprised of 137,444,962 common shares with a nominal value of S/4 each.

    (b) Investment shares -

    As of March 31, 2003 the investment shares is made up as follows:

     

     

    Nominal
    value

    Restatement for inflation effect

     

    Total
     

    S/(000)

    S/(000)

    S/(000)
           

    Investment shares

    1,489

    163

    1,652
     

    _____

    _____

    ___

    The Annual Shareholders' meeting mentioned in paragraph (a) above, also decided to increase the investment shares account from S/372,320 to S/1,489,280 (From S/504,000 to S/1,652,000, in constant values as of March 31, 2003), by increasing the nominal value of investment shares from S/1 to S/4, concurrent with capitalization of a portion of retained earnings equal to S/1,116,960 (S/1,148,000 in constant values as of March 31, 2003). As a consequence, effective May 3, 2002, there are 372,320 investment shares with a nominal value of S/4 each.

    (c) Additional paid-in capital -

    The additional paid-in capital principally relates to the premium received on the issuance of Series B common shares. Additionally, it includes a gain that resulted from the sale of treasury ADR.

    In the first quarter of 2002, Condesa sold to third parties an additional 314,500 ADR for approximately S/23,804,000, realizing a gain of S/19,681,000, which is presented as additional paid-in capital in the consolidated statements of changes in shareholders' equity.

     

    (d) Legal reserve -

    According to the Ley General de Sociedades (General Corporations Law), applicable to individual and unconsolidated financial statements, a minimum of 10% of distributable income in each year, after deducting income tax, shall be transferred to a legal reserve, until such reserve is equal to 20 percent of capital stock. This legal reserve may be used to offset losses or may be capitalized; however, if used to offset losses or if capitalized, the reserve must be replenished with future profits.

    (e) Declared dividends -

    The Annual Shareholders meeting held on March 26, 2002 approved a cash dividend of S/29,897,000 (equivalent to S/0.21 per share) from retained earnings as of December 31, 2001. The cash dividend includes dividends of S/2,296,000 paid to a subsidiary. The dividends were available to shareholders from April 2002.

    The Annual Shareholders meeting held on March 31, 2003 approved a cash dividend of S/41,759,000 (equivalent to S/0.303 per share) from retained earnings as of December 31, 2002. These dividends will be available to shareholders from April 25, 2003 and are included as dividends payable in the consolidated balance sheets as of March 31, 2003.

    10. Legal proceedings

    Damages claimed by a French citizen

    In February of 2002, the Company and Condesa, together with Newmont Mining, Newmont Second and certain individual persons, were defendants in an action initiated by a French citizen, with jurisdiction before the District Court of the state of Colorado in the United States. The plaintiff alleges that he was engaged as an advisor to Normandy respective to a lawsuit that concluded in October of 1998, and that such lawsuit separately motivated the execution of a Global Transaction Agreement in 2000 between the Company, BRGM, Mine Or, Normandy and their related entities (SEREM). The Global Transaction Agreement provided for full and permanent

    revocation and annulment of any preferential rights on the shares of Cedimin S.A.C. in exchange for a one-time payment of US$80 million by the Company, of which the Company paid US$40 million.

    The plaintiff asserts that he was injured because Normandy had promised to pay him a commission based fee if he was able to increase the amount of the Company's payment as ordered by the Court, which did not occur, and seeks damages of not less than US$25 million plus interest, in addition to unspecified punitive damages that could increase the amount by threefold. Additionally, the plaintiff alleges violations of the federal RICO statute and similar provisions of Colorado law, interference with contract rights, defamation and other damages.

    The defendants have filed various motions to dismiss the action and believe the arguments presented for dismissal have solid legal ground; however, rather than responding to these motions for dismissal, the plaintiff has filed another demand. The Company and Condesa have presented motions to reject the new demand.

    At this date is not possible to predict when the court will rule on the motions, the possible outcome of such motions or a possible range of loss.

    11. Transaction with affiliated companies

    (a) S.M.R.L. Chaupiloma Dos de Cajamarca ("Chaupiloma") is the legal owner of the mineral rights on the mining concessions exploited by Yanacocha., and receives a 3 percent royalty on the net sales of Yanacocha. For the three-month period ended March 31, 2003, royalties earned amounted to S/24,196,000 (S/15,325,000 for the three-month period ended March 31, 2002) and are presented as royalty income in the consolidated statements of income.

    (b) In March 2002, Buenaventura Ingenieros S.A. signed a technical service agreement with Yanacocha to perform a number of specialized activities and services. Pursuant to the agreement, the services performed will be related to the construction of mining projects and will include completion of analysis and studies, work plan design, and functions related to planning, monitoring and administrating the infrastructure projects required by Yanacocha in its

    operations. This contract will expire on December 31, 2003. The revenues related to this service contract amounted to approximately S/2,746,000 for the three-month period ended March 31, 2003.

    (c) In November 2000, Consorcio Energético de Huancavelica S.A. signed an agreement with Yanacocha for the construction of a 220 kW transmission line between Trujillo and Cajamarca, a 60 kW transmission line between Cajamarca and La Pajuela, and the Cajamarca Norte substation; this agreement also encompassed activities necessary to enlarge the Trujillo substation. Pursuant to this contract, the construction work should be finished in October of 2001. Concurrently, Yanacocha and the Company signed a 10-year agreement covering electric energy transmission and infrastructure operation beginning November 2001. In exchange for Buenaventura operating and managing the transmission project, Yanacocha will pay an annual fee of US$3.7 million. The revenues for these services for the three-month period ended March 31, 2002 and 2003 amounted to approximately S/3,308,000 and S/3,384,000, respectively.

    (d) As a result of these and other minor transactions, the Company has the following accounts receivable and payable from affiliated companies:

     

    As of
    December 31, 2002

    As of
    March 31,
     2003

    S/(000)

    S/(000)
         

    Receivable

    		    

    Minera Yanacocha S.R.L.

    30,481

    30,163

    Other

    180

    175
     

    _________

    _________
     

    30,661

    30,338
     

    _________

    _________
         

    Payable

    		    

    Compañía Minera Coimolache S.A.

    22

    22
     

    _________

    _________

     

    12. Derivative financial instruments

    (a) Until December 31, 2002, the Company did not account for the fair value of the derivative instruments and only disclosed the amount in notes to the consolidated financial statements. Effective January 1, 2003, the Company has adopted IAS 39, "Financial Instruments - Recognition and Measurement", which requires that the derivative instruments be recognized as assets or liabilities in the consolidated balance sheet, and measured at their fair value. The initial effect on the adoption of this IAS must be recorded as a debit or credit to retained earnings. Subsequent changes in the fair value must be recognized in the results of the period, unless certain criteria specified in IAS 39 are met.

    Management's intention is to hold derivative instruments to hedge the fluctuations in metal prices, mainly gold and silver, and not for trading purposes; however, the Company does not meet all the criteria stated in IAS 39 to accounted for the derivative instruments as a hedge. Accordingly, the Company has recorded their derivative instruments as follow:
      • Recorded a charge of S/431,229,000 to retained earnings that includes a minority interest effect of S/4,057,000, and
      • Recognized a gain of S/91,620,000 due to the change in fair value occurred during the first quarter of 2003, which is presented as other income in the consolidated statement of income.

    In addition, S/335,552,000 is presented as a liability in the consolidated balance sheet in connection with the fair value of the open derivate instruments as of March 31, 2003, as detailed in the paragraph (c) below.

    (b) For the three-month period ended March 31, 2003, the Company recognized expenses amounting to S/1,288,000 (revenues amounting to S/15,566,000 for three-month period ended March 31, 2002) in connection with derivative operations settled in those periods.

    (c) The tables below present details related to commodity derivative instruments outstanding as of March 31, 2003:

    Compañía de Minas Buenaventura S.A.A. -

    Metal

    Quantity

    (ounces)

    Collared price range

    Period
     

    ______________________

    		    
     

    Minimum

    Maximum

    (US$/Oz)

    		  
             

    Silver

    5,350,000(i)

    9,575,000

    US$5.80 to US$6.20

    April 2003 - August 2006

    Gold

    692,500(ii)

    3,404,000

    US$332.13 to US$420

    April 2003 - December 2011

      1. Includes:
        • 3,200,000 Oz Ag with a guaranteed minimum sale price of US$5.80 Oz/Ag (minimum price valid only and when silver price is above US$4.15 Oz/Ag) and a maximum sale price of US$6.20 Oz/Ag.
          • 1,025,000 Oz Ag with a guaranteed sales price of US$6 Oz/Ag, only and when the silver price is above US$4 Oz/Ag.

      (ii) Includes guaranteed sales 135,000, 202,500 and 45,000 Oz Au only and when gold prices are above US$279.50, US$265 and US$290 Oz/Au, respectively.

       

      Sociedad Minera El Brocal S.A.A.

      Metal

      Quantity

      Price

      Period
         

      Call options

      		 

      Zinc

      8,100 MT

      US$900/MT

      April 2003 - December 2003

      Put options

      		 

      Zinc

      16,200 MT

      US$775/MT

      April 2003 - December 2003
             
           

      Future contracts

      		    

      Zinc (*)

      8,100 MT

      US$895/MT

      April 2003 - December 2003

      Zinc

      8,100 MT

      US$869/MT

      April 2003 - December 2003

      Zinc

      4,050 MT

      US$860/MT

      April 2003 December 2003

      Silver

      450,000 Oz

      US$5.10/Oz

      April 2003 - December 2003

      Silver

      225,000 Oz

      US$5.05/Oz

      April 2003 - December 2003

      (*) This derivative instrument has a daily fade-out provision if zinc price is at or below US$ 750/MT.

      (d) The Company maintains a foreign currency forward contract for US$20,186,391 that expires on April 9, 2003 and has a specific exchange rate of S/3.5081 for each U.S. dollar.

      13. Basic and diluted earnings per share

      The computation of the basic and diluted earnings per share for the three-month period ended March 31, 2002 and 2003 is presented below:

       

      For the three-month

      period ended March 31,
       

      _____________________________
       

      2002

      2003
           

      Net income (numerator)

      S/45,134,000

      S/186,255,000

      Shares (denominator)

      127,225,692

      127,225,692

      Earnings per share

      S/0.35

      S/1.46
           

       

       

      The number of shares to be used as the denominator in the calculation of basic and diluted earnings per share for the three-month period ended March 31, 2002 and 2003 was determined as follows:

       

      2002

      2003
           

      Common shares

      137,444,962

      137,444,962

      Investment shares

      372,320

      372,320
       

      ___________

      ___________
       

      137,817,282

      137,817,282
           

      Less - treasury shares

      10,591,590

      10,591,590
       

      ___________

      ___________
           
       

      127,225,692

      127,225,692
       

      __________

      __________

      14. Statistical data

      Statistical data of the Company related to the volume of inventories sold and average sale prices by product for the three-month period ended March 31, 2002 and 2003 are as follows:

      (a) Mineral volumes sold were:

       

      2002

      2003
           

      Gold

      62,734 Oz

      76,668 Oz

      Silver

      3,112,469 Oz

      2,062,064 Oz

      Lead

      5,234 MT

      4,565 MT

      Zinc

      11,340 MT

      13,603 MT

      Copper

      -

      66 MT

       

      (b) Average sales prices were:

       

      2002

      2003
       

      US$

      US$
           

      Gold

      287.89/Oz

      349.80/Oz

      Silver

      4.43/Oz

      4.67/Oz

      Lead

      489.66/MT

      459.45/MT

      Zinc

      793.36/MT

      785.96/MT

      Copper

      -

      1,656.11/MT

       

      15. Explanation added for English language translation

      The accompanying consolidated financial statements are presented on the basis of accounting principles generally accepted in Peru. Certain accounting practices applied by the Company that conform with generally accepted accounting principles in Peru may differ in certain respects to generally accepted accounting principles in other countries.

      Signature

      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.

      Compañía de Minas Buenaventura S.A.A.

       

      /s/ CARLOS E. GALVEZ PINILLOS

      Carlos E. Gálvez Pinillos

      Chief Financial Officer

       

      Date: April 25, 2003

       

      Dates Referenced Herein   and   Documents Incorporated By Reference

      This 6-K Filing   Date   Other Filings
      12/19/00
      12/31/01
      1/1/02
      3/26/02
      3/31/02
      4/2/02
      4/23/02
      4/30/02
      5/3/02
      12/31/0220-F, 6-K
      1/1/03
      1/2/03
      For The Period Ended3/3/036-K
      3/31/036-K
      4/9/03
      4/22/03
      Filed On4/25/036-K
      Filed As Of4/28/036-K
      12/31/0320-F, 6-K
      9/30/04
      9/30/06
      12/31/07
       
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