Financial Highlights

Combined Statements of Comprehensive Income For the Fourth Quarter Ended 31 December 2016

  Group
Three Months Ended
  Group
Twelve Months Ended
  31-Dec-16
US$'000
Unaudited
31-Dec-15
US$'000
Unaudited
Change
%
  31-Dec-16
US$'000
Unaudited
31-Dec-15
US$'000
Unaudited
Change
%
               
Revenue              
Service revenue 104 972 (89)   350 4,652 (92)
Cost of sales:              
Cost of services (249) (393) (37)   (723) (2,156) (66)
Exploration and evaluation expendiutre (16,760) (18,670) (10)   (44,198) (18,670) 137
Gross loss (16,905) (18,091) (7)   (44,571) (16,174) 176
               
Administration expenses (4,120) (1,836) 124   (16,159) (8,939) 81
Other income 36 60 (40)   851 567 50
Results from operating activities (20,989) (19,867) 6   (59,879) (24,546) 144
               
Finance income 640 501 28   1,542 1,735 (11)
Foreign exchange (loss)/
gain
(692) 191 NM   (293) (5,542) (95)
Finance costs (770) (246) 213   (3,168) (379) 736
Net finance (costs)/income (822) 446 NM   (1,919) (4,186) (54)
Impairment of available-for-sale investments - (2,112) NM   - (3,497) NM
Impairment of a jointly controlled entity - (1,062) NM   (1,246) (10,807) (88)
Loss on dilution of investment in an associate (2,090) - NM   (2,090) - NM
Share of equity-accounted losses of jointly controlled entities and an associate, net of tax (873) (334) 161   (2,593) (7,128) (64)
Loss before tax (24,774) (22,929) 8   (67,727) (50,164) 35
               
Tax credit 13,872 14,257 (3)   35,988 14,257 152
Loss for the period/ year from continuing operations, net of tax (10,902) (8,672) 26   (31,739) (35,907) (12)
               
Discontinued operation              
Loss from discontinued operation, net of tax - (7,747) NM   - (20,990) NM
Loss for the period/ year, net of tax (10,902) (16,419) (34)   (31,739) (56,897) (44)
Loss attributable to:              
Owners of the Company (10,302) (16,178) (36)   (29,498) (56,630) (48)
Non-controlling interests (600) (241) 149   (2,241) (267) 739
Loss for the period/year,
net of tax
(10,902) (16,419) (34)   (31,739) (56,897) (44)
Other comprehensive (loss)/ income
- Items that may be reclassified subsequently to profit or loss:
Net change in fair value of an available-for-sale investment, net of tax (168) (208) (19)   830 (1,709) NM
Impairment loss on an available-for-sale investment reclassified to profit or loss, net of tax - 323 NM   - 1,709 NM
Foreign currency translation differences (1,863) 37 NM   451 455 (1)
Foreign currency translation differences arising from disposal of subsidiary reclassified to profit or loss - (374) NM   - (374) NM
Other comprehensive (loss)/ income for the period/ year, net of tax (2,031) (222) 815   1,281 81 1481
Total comprehensive loss
for the period, net of tax
(12,933) (16,641) (22)   (30,458) (56,816) (46)
               
Total comprehensive loss
attributable to:
             
Owners of the Company (12,099) (16,400) (26)   (28,410) (56,551) (50)
Non-controlling interests (834) (241) 246   (2,048) (265) 673
Total comprehensive loss for the period/year (12,933) (16,641) (22)   (30,458) (56,816) (46)


NM – Not Meaningful

Combined Statement of Financial Position

  31-Dec-16
US$'000
Unaudited
31-Dec-15
US$'000
Audited
     
Assets
Exploration and evaluation assets 58,175 59,472
Plant and equipment 207 337
Intangible assets 6,765 7,615
Subsidiaries - -
Jointly controlled entities 2,344 5,444
Associate - 3,592
Available-for-sale investments 2,637 701
Non-current assets 70,128 77,161
 
Inventories 3,188 2,717
Trade and other receivables 22,609 72,067
Quoted investments 31,102 31,630
Cash and cash equivalents 33,240 53,447
Current assets 90,139 159,861
Total assets 160,267 237,022
 
Equity
Share capital 254,873 254,055
Reserves 8,295 6,841
Accumulated losses (139,892) (127,220)
Total equity attributable to
owners of the Company
123,276 133,676
     
Non-controlling interests 10,160 19,282
Total equity 133,436 152,958
 
Liabilities
Deferred tax liabilities 581 13,862
Provisions 10,821 9,838
Non-current liabilities 11,402 23,700
     
Loan and borrowings 12,488 33,720
Trade and other payables 2,941 26,644
Current liabilities 15,429 60,364
 
Total liabilities 26,831 84,064
Total equity and liabilities 160,267 237,022