|
Consolidated Balance Sheets - As at June 30
Expressed in thousands of United States dollars
| |
2005 |
2004 |
| |
| Assets |
|
|
| CURRENT |
|
|
| Cash |
$ 37,799 |
$ 1,994 |
| Accounts receivable |
3,147 |
216 |
| Prepaid expenses |
1,085 |
769 |
| Inventories (Note 4) |
6,043 |
3,547 |
| Investment in and advances from Metorex Limited |
- |
2,018 |
| Other |
- |
42 |
| |
- |
8,586 |
| |
| NALUNAQ PROPERTY, PLANT AND EQUIPMENT (Note 3) |
55,386 |
53,901 |
| INVESTMENT IN BARBERTON MINES LTD (Note 5) |
6,632 |
7,144 |
| OTHER MINERAL PROPERTY INTERESTS (Note 6) |
3,456 |
3,309 |
| OTHER ASSETS (Note 18) |
2,196 |
1,885 |
| |
| |
$ 115,744 |
$ 74,825 |
| |
| |
| Liabilities |
|
|
| CURRENT |
|
|
| Accounts payable and accrued liabilities |
$ 11,899 |
$ 8,095 |
| |
11,899 |
8,095 |
| REHABILITATION PROVISION (Note 7) |
570 |
574 |
| CONVERTIBLE BONDS (Note 8) |
3,113 |
14,048 |
| OTHER LONG-TERM DEBT(Note 9) |
22,868 |
- |
| CAPITAL LEASE OBLIGATION |
343 |
- |
| FUTURE INCOME TAXES (Note 10) |
2,717 |
2,482 |
| NON-CONTROLLING INTEREST |
940 |
2,856 |
| |
$ 42,450 |
$ 28,055 |
| |
| |
| Shareholders' Equity |
|
|
| Share capital (Note 11) |
152,077 |
$ 116,467 |
| Equity component of convertible bonds (Note 8) |
76 |
553 |
| Share purchase warrants (Note 11 (e)) |
- |
404 |
| Contributed surplus |
548 |
176 |
| Deficit |
(81,070) |
(72,105) |
| Cumulative translation adjustment (Note 12) |
1,663 |
1,275 |
| |
73,294 |
46,770 |
| |
$ 115,744 |
$ 74,825 |
| |
| CONTINUING OPERATIONS (Note 1) |
|
|
| COMMITMENTS AND CONTINGENCIES (Note 13 and 14) |
|
|
| SUBSEQUENT EVENTS (Note 20) |
|
|
| |
| On behalf of the Board: |
|
|
| (Signed) Jan Vestrum, Director |
|
(Signed) William R. LeClair, Director |
|
| See accompanying Notes to the Consolidated Financial Statements. |
|