Key Financial Data
Consolidated Cash Flow Statement
| For the six months ended 30 June 2009 | |||
| Cash flow from operating activities | 6 months ended 30 June 2009 (unaudited) $ |
6 months ended 30 June 2008 (unaudited) $ |
12 months ended 31 December 2008 (audited) $ |
| PROFIT/ (LOSS) BEFORE TAX | 1,410,919 | 170,705 | (4,727,900) |
| Adjustments for: | |||
| Depreciation | 4,073 | 2,781 | 9,850 |
| Share-based payment | - | - | 101,377 |
| Finance income - interest | (151,623) | (625,097) | (986,177) |
| Finance income - foreign exchange gains | (1,696,507) | (139,480) | - |
| Finance expense - foreign exchange losses | 4,426,533 | ||
| Foreign exchange differences | - | - | (20,116) |
| (433,138) | (591,091) | (1,196,433) | |
| Decrease in trade and other receivables | 2,943 | 50,242 | 65,880 |
| Decrease in trade and other payables | (87,139) | (2,057,878) | (2,114,973) |
| Net cash outflow from operating activities | (517,334) | (2,598,727) | (3,245,526) |
| Cash flows used in investing activities | |||
| Interest received | 290,624 | 591,686 | 981,913 |
| Sale/(purchase) of investments | 9,950,668 | - | (9,950,668) |
| Exploration and evaluation expenditure | (154,425) | (12,236,545) | (12,885,059) |
| Purchase of property, plant and equipment | (2,897) | - | (17,030) |
| Net cash used in investing activities | 10,083,970 | (11,644,859) | (21,870,844) |
| Net increase/(decrease) in cash and cash equivalents | 9,566,636 | (14,243,586) | (25,116,370) |
| Cash and cash equivalents at the beginning of the period | 9,522,035 | 39,064,938 | 39,064,938 |
| Exchange gains/( losses) on cash and cash equivalents | 1,696,507 | 148,546 | (4,426,533) |
| Cash and cash equivalents at the end of the period | 20,785,178 | 24,969,898 | 9,522,035 |