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| FINANCIAL INFORMATION |
Annual Financial Statements for 2007: Download pdf
Annual Financial Statements for 2006: Download pdf
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Historic |
Historic |
Historic |
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Feb-07 |
Feb-06 |
Feb-05 |
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US$ |
US$ |
US$ |
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| PROFIT AND LOSS ACCOUNT |
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| TURNOVER |
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| Exploration Expenses- discontinued operations |
(759,626) |
(2,498,919) |
(4,336,090) |
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| GROSS LOSS |
(759,626) |
(2,498,919) |
(4,336,090) |
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| Management Fees - continuing operations |
139,722 |
55,556 |
- |
| Other Operating Expenses - continuing operations |
(490,857) |
(1,361,673) |
(2,158,287) |
| Interest Receivable - continuing operations |
141,583 |
87,161 |
166,912 |
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| OPERATING LOSS FOR THE FINANCIAL YEAR |
(969,178) |
(3,717,875) |
(6,327,465) |
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| Profit on disposal of fixed asset-discontinued operations |
290,929 |
- |
- |
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| LOSS FOR THE FINANCIAL YEAR |
(678,249) |
(3,717,875) |
(6,327,465) |
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Historic |
Historic |
Historic |
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Feb-07 |
Feb-06 |
Feb-05 |
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US$ |
US$ |
US$ |
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| BALANCE SHEET |
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| FIXED ASSETS |
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| Tangible assets |
30,490 |
135,826 |
461,468 |
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| CURRENT ASSETS |
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| Debtors and Prepayments |
48,540 |
394,563 |
2,529 |
| Cash at bank |
3,103,109 |
3,321,151 |
3,866,591 |
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3,151,649 |
3,715,714 |
3,869,120 |
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| CREDITORS: amounts falling due whithin one year |
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| Amounts due to group companies |
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(40,499) |
| Creditors and accruals |
(78,679) |
(69,831) |
(485,005) |
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(78,679) |
(69,831) |
(525,504) |
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| Net current assets |
3,072,970 |
3,645,883 |
3,343,616 |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
3,103,460 |
3,781,709 |
3,805,084 |
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| CAPITAL AND RESERVES |
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| Share capital |
2,354,482 |
2,354,482 |
1,122,982 |
| Share premium |
13,849,554 |
13,949,554 |
11,386,554 |
| Capital contribution reserve |
555,110 |
555,110 |
555,110 |
| Profit and loss account |
(13,655,686) |
(12,977,437) |
(9,259,562) |
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| EQUITY SHAREHOLDER'S FUNDS |
3,103,460 |
3,881,709 |
3,805,084 |
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Historic |
Historic |
Historic |
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Feb-07 |
Feb-06 |
Feb-05 |
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US$ |
US$ |
US$ |
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| CASHFLOW STATEMENT |
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| Net cash outflow from operating expenses |
(705,657) |
(4,460,469) |
(4,863,028) |
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| Returns on investment and servicing finance |
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| Interest received |
141,583 |
87,155 |
166,912 |
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| Capital expenditure and financial investment |
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| Purchase of fixed assets |
(3,968) |
(5,362) |
(690,656) |
| Sale of fixed assets |
350,000 |
250,000 |
- |
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(218,042) |
(4,128,676) |
(5,386,772) |
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| Financing |
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| Issue of shares net of expenses and capital contribution |
- |
3,583,236 |
9,252,180 |
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| (Decrease)/Increase in cash |
(218,042) |
(545,440) |
3,865,408 |
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| Reconciliation of net cash flow to movement in net debt |
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| Decrease in cash |
(218,042) |
(545,440) |
3,865,408 |
| Net funds brought forward |
3,321,151 |
3,866,591 |
1,183 |
| Net funds carried forward |
3,103,109 |
3,321,151 |
3,866,591 |
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| Reconciliation of operating loss to net cash outflow |
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| from operating activities |
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| Operating Loss |
(969,178) |
(3,717,875) |
(6,327,465) |
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| Adjusted for: |
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| Depreciation & impairment loss |
50,233 |
81,004 |
237,614 |
| Finance raising costs |
- |
111,263 |
827,820 |
| Interest received |
(141,583) |
(87,155) |
(166,912) |
| Decrease/(increase) in debtors |
346,023 |
(392,034) |
316,409 |
| Increase/(decrease) in creditors |
8,848 |
(455,672) |
249,506 |
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(705,657) |
(4,460,469) |
(4,863,028) |
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Tel: +27 (0)21 794 4004 | Fax: +27 (0)21 794 4068 | Email:
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Constantia Main Rd, Constantia, 7806, South Africa
Registered Address: Heron House, L'Avenue de la
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