Fiscal periods ended Dec 2006
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Financial Statements
» Balance Sheets
» Statements of Earnings and Deficit
» Cash Flow Statements
» Notes to Financials
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Consolidated Statements of Cash Flows
(Expressed in thousands of United States dollars)
Six months ended December 31, 2006 |
Year ended June 30, 2006 |
|||
| OPERATING ACTIVITIES | ||||
| Net earnings (loss) | $ |
7,276 |
$ |
(35,596) |
| Add (deduct) items not affecting cash: | ||||
| Depletion and depreciation | 6,657 |
9,762 |
||
| Other finance charges - amortisation and accretion | 2,730 |
2,945 |
||
| Equity earnings from investment in Barberton Mines | ||||
| Limited (Note 6) | (153) |
(831) |
||
| Gain on disposal of investment in Guinor Gold Corporation (Note 3(b)) | - |
(519) |
||
| Gain on dilution of investment in Crew Minerals ASA (Note 4) | (35,205) |
- |
||
| Gain on disposals of other investments (Note 6, Note 7) | (7,261) |
(2,933) |
||
| Unrealized foreign exchange gain (loss) on long-term debt | (2,223) |
13,230 |
||
| Stock compensation expense (Note 14(g)) | 1,972 |
1,805 |
||
| Non-controlling interest | (31) |
(940) |
||
| Change in non-cash operating working capital items (Note 18 (a)) | (3,055) |
(14,740) |
||
(29,293) |
(27,817) |
|||
| FINANCING ACTIVITIES | ||||
| Net proceeds on other long-term debt | - |
97,442 |
||
| Net proceeds on convertible bonds | - |
186,780 |
||
| Net issuance of common shares for cash | 99,733 |
232,674 |
||
| Capital lease payments | - |
(343) |
||
99,733 |
516,553 |
|||
| INVESTING ACTIVITIES | ||||
| Proceeds on disposal of investment in Golden Star Resources (Note 7) | 2,445 |
2,946 |
||
| Proceeds on disposal of investment in Guinor Gold Corporation (Note 3(b)) | - |
2,552 |
||
| Proceeds on disposal of investment in Metorex Limited (Note 6) | 12,224 |
- |
||
| Proceeds on dilution of investment in Crew Minerals ASA (Note 4) | 80,087 |
- |
||
| Acquisition of Apex Mining Company, net of cash acquired (Note 3(a)) | - |
(6,570) |
||
| Acquisition of Guinor Gold Corporation, net of cash acquired (Note 3(b)) | - |
(346,624) |
||
| Acquisition of Nugget Pond Asset (Note 3(c)) | (62) |
- |
||
| Expenditures on Nalunaq mineral property, plant and | ||||
| equipment | (4,054) |
(5,050) |
||
| Expenditures on Lefa mineral property, plant and equipment | (76,452) |
(71,492) |
||
| Expenditures on Masara mineral property, plant and equipment | (36,435) |
(13,217) |
||
| Expenditures on Nugget Pond processing facility | (762) |
- |
||
| Increase in security deposits | (839) |
- |
||
| Increase in long-term restricted cash balances | (489) |
- |
||
| Decrease (Increase) in restricted cash | 6,969 |
(6,194) |
||
| Expenditures on other mineral property interests | (819) |
(1,561) |
||
| Dividends received | - |
1,212 |
||
| Other | (220) |
264 |
||
(18,407) |
(443,734) |
|||
| EFFECT OF FOREIGN EXCHANGE TRANSLATION | ||||
| ON CASH | (2,578) |
758 |
||
| NET CASH INFLOW | 49,455 |
45,760 |
||
| CASH, BEGINNING OF PERIOD | 82,482 |
36,722 |
||
| CASH, END OF PERIOD | $ |
131,937 |
$ |
82,482 |
SUPPLEMENTAL CASH FLOW INFORMATION (Note 18)
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