Consolidated Statements of Operations and Deficit
(Expressed in thousands of United States dollars, except per share amounts - Unaudited)
| |
Three months ended |
|
Nine months ended |
| |
September 30
2007 |
|
September 30
2006 |
|
September 30
2007 |
|
September 30
2006 |
| MINERAL SALES |
14,364 |
|
25,901 |
|
27,984 |
|
48,097 |
| DIRECT COSTS OF MINERAL SALES |
(13,317) |
|
(17,085) |
|
(25,115) |
|
(34,348) |
| MINE SITE ADMINISTRATION COSTS |
(1,778) |
|
(3,305) |
|
(3,668) |
|
(8,156) |
| DEPLETION AND DEPRECIATION |
(3,496) |
|
(6,446) |
|
(7,309) |
|
(14,126) |
| |
(4,227) |
|
(935) |
|
(8,108) |
|
(8,533) |
| EXPENSES |
|
|
|
|
|
|
|
| Administration, office and general |
(4,015) |
|
(2,389) |
|
(12,197) |
|
(6,101) |
| Mobilisation costs |
- |
|
(5,561) |
|
- |
|
(5,561) |
| Professional fees |
(369) |
|
(396) |
|
(1,508) |
|
(1,345) |
| Stock compensation expense |
(1,624) |
|
(851) |
|
(5,774) |
|
(2,255) |
| |
(6,008) |
|
(9,197) |
|
(19,479) |
|
(15,262) |
| OTHER INCOME (EXPENSES) |
|
|
|
|
|
|
|
| Equity gain from investment in Barberton Mines Limited |
- |
|
43 |
|
- |
|
331 |
| Equity loss from investment in Crew Minerals ASA (Note 5) |
210 |
|
- |
|
291 |
|
- |
| Gain on disposals of other investments |
505 |
|
7,177 |
|
505 |
|
7,712 |
| Gain on disposal of investment in Crew Minerals ASA (Note 5) |
- |
|
- |
|
54,051 |
|
- |
| (Loss) gain on future / forward obligation contracts |
(4,139) |
|
(21) |
|
(5,389) |
|
193 |
| Interest - Convertible bonds and other long-term loans |
(4,040) |
|
(3,735) |
|
(11,713) |
|
(11,003) |
| Other finance charges - Convertible bonds and other long-term loans |
(1,357) |
|
(1,378) |
|
(4,062) |
|
(4,050) |
| Foreign exchange (loss) gain |
(32,051) |
|
8,197 |
|
(41,613) |
|
(7,567) |
| Interest and other (expenses) income |
(210) |
|
184 |
|
(47) |
|
528 |
| |
(41,082) |
|
10,467 |
|
(7,977) |
|
(13,856) |
| (LOSS) PROFIT BEFORE RECOVERY OF INCOME TAXES |
|
|
|
|
|
|
|
| AND NON-CONTROLLING INTEREST |
(51,317) |
|
335 |
|
(35,564) |
|
(37,651) |
| RECOVERY OF INCOME TAXES |
- |
|
1,297 |
|
- |
|
2,131 |
| (LOSS) PROFIT BEFORE NON-CONTROLLING INTERESTS |
(51,317) |
|
1,632 |
|
(35,564) |
|
(35,520) |
| NON-CONTROLLING INTEREST |
- |
|
- |
|
276 |
|
342 |
| NET (LOSS) PROFIT |
(51,317) |
|
1,632 |
|
(35,288) |
|
(35,178) |
| DEFICIT, BEGINNING OF PERIOD, AS PREVIOUSLY STATED |
(101,715) |
|
(116,666) |
|
(109,390) |
|
(79,856) |
| CORRECTION OF ERROR FOR THREE MONTHS ENDED JUNE 30, 2007 (Note 5) |
8,354 |
|
- |
|
- |
|
- |
| DEFICIT, BEGINNING OF PERIOD, AS RESTATED |
(93,361) |
|
- |
|
- |
|
- |
| DEFICIT, END OF PERIOD |
(144,678) |
|
(115,034) |
|
(144,678) |
|
(115,034) |
| (LOSS) PROFIT PER SHARE - BASIC |
$ (0.12) |
|
$ 0.00 |
|
$ (0.08) |
|
$ (0.10) |
| (LOSS) PROFIT PER SHARE - DILUTED |
$ (0.12) |
|
$ 0.00 |
|
$ (0.08) |
|
$ (0.10) |
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC |
426,625,988 |
|
366,316,664 |
|
423,767,741 |
|
348,337,999 |
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - DILUTED |
426,625,988 |
|
498,569,421 |
|
423,767,741 |
|
348,337,999 |
|
|
