Aquarius Platinum

Consolidated income statement

Consolidated income statement for the year ended 30 June 2009

	Note	2009	2008
		$’000	$’000

Revenue	7	310,556	919,012
Cost of sales	7	(334,327)	(359,873)

Gross (loss)/profit		(23,771)	559,139

Other income	7	1,815	2,109
Administrative costs	7	(9,919)	(10,467)
Fair value movement in derivative liability	24	(3,829)	-
Impairment losses	7	(13,050)	-
Foreign exchange gain/(loss)	7	(20,328)	14,286

(loss)/Profit from operating activities before finance costs		(61,424)	565,067

Finance costs	7	(35,968)	(28,260)

(Loss)Profit before income tax		(97,392)	536,807

Income tax (expense)/benefit	8	(15,808)	(173,214)

Net (loss)profit for the year		(81,584)	363,593

Attributable to:

Equity holders of the parent	32	(45,742)	236,474
Non controlling interest		(35,842)	127,119

		81,584	363,593


Earnings per share

Basic earnings per share (cents per share)	9	(13.30)*	86.58*

Diluted earnings per share (cents per share)	9	86.10*	(13.30)*

* Earnings per share has been restated to account for the May 2009 Entitlement Issue to shareholders in accordance with IAS 33

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Consolidated balance sheet

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Consolidated Balance Sheet for the year ended 30 June 2009

	Note	2009	2008
		$’000	$’000
ASSETS
Non Current Assets
Receivables	11	11,362	10,795
Available for sale investments	12	1,917	4,804
Property, plant and equipment	13	230,057	214,314
Mining assets	14	270,374	274,270
Restricted cash in environmental trusts	15	12,008	10,359
Intangible asset and goodwill	16	74,167	77,955

Total Non Current Assets		599,885	592,497

Current Assets
Cash and cash equivalents	19	153,600	170,956
Trade and other receivables	20	119,866	186,964
Inventories	21	43,652	35,941

Total Current Assets		317,118	393,861

TOTAL ASSETS		917,003	986,358

EQUITY AND LIABILITIES
CAPITAL AND RESERVES
Issued capital	29	20,751	13,103
Shares reserved for share plan	30	(2,802)	(1,012)
Reserves	31	444,637	279,292
Retained earnings	32	145,584	217,531

Equity Attributable to Equity Holders of the Parent		608,170	508,914

Non controlling Interest	33	-	35,600

TOTAL EQUITY		608,170	544,514

Non Current Liabilities
Payables	22	1,555	2,219
Interest bearing loans and borrowings	23	70,034	1,657
Deferred tax liabilities	8	92,767	111,738
Provisions	25	62,963	58,618

Total Non Current Liabilities		227,319	174,232

Current Liabilities
Trade and other payables	26	68,622	56,294
Derivatives at fair value	24	6,084	1,039
Interest bearing loans and borrowings	27	6,211	208,161
Current tax liabilities	1	1	1,644
Provisions	28	596	474

Total Current Liabilities		81,514	267,612

Total Liabilities		308,833	441,844

TOTAL EQUITY AND LIABILITIES		917,003	986,358

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Consolidated Cash Flow Statement

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Consolidated Cash Flow Statement for the year ended 30 June 2009

	Note	2009	2008
		$’000	$’000

Cash flows from operating activities
Receipts from customers		354,558	894,269
Payments to suppliers and employees		(326,729)	(378,364)
Interest received		11,681	28,095
Interest and other finance costs paid		(27,300)	(19,628)
Other income		1,104	2,111
Income taxes paid		(95)	(175,851)

Net CASH FROM operating ACTIVITIES		13,219	350,632

Cash flows from investing activities
Payments for property plant & equipment and mine development costs		(59,342) (65,743)	(65,743) (57,169)
Payments for mine closure/rehabilitation costs		(1,213)	(4,372)
Acquisition of joint venture interest net of cash acquired	17	-	(22,899)
Redeemable deposit		(14,038)	(32,159)
Payments for purchase of equity investments		-	(4,434)

Net CASH USED IN investing ACTIVITES		(74,593)	(129,607)

Cash flows FROM financing activities
Proceeds from issue of shares		192,131	370,203
Share issue costs		(13,661)	(8,035)
Share buy back		-	(733,813)
Return of capital		-	(14,587)
Proceeds from borrowings		73,770	210,361
Repayment of share-plan loans		-	-
Repayment of borrowings		(181,891)	(82,773)
Purchase of shares reserved for share plan		(1,790)	(1,012)
Dividends paid		(26,205)	(51,307)
Dividends paid by subsidiary to minority interests		(3,600)	(9,118)

Net CASH USED IN financing ACTIVITIES		38,754	(320,081)

Net increase/(decrease) in cash held		(22,620)	(99,056)
Cash and cash equivalents at beginning of the financial year		170,956 287,663	287,663; 162,425
Net foreign exchange differences		5,264	(17,651)


Cash AND CASH EQUIVALENTS at end of the financial year	19	170,956153,600	170,956 287,663

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