CONSOLIDATED BALANCE SHEETS
AS AT DECEMBER 31
| (all amounts in US dollars thousands) |
Note |
2004 |
2003 |
| ASSETS |
|
|
|
| Current assets: |
|
|
|
| Cash and bank deposits |
|
13,850 |
4,560 |
| Short term investments |
|
– |
15,644 |
| Receivables and prepayments |
|
1,985 |
4,525 |
| Inventories |
|
7,903 |
7,173 |
|
| |
|
23,738 |
31,902 |
| Non-current assets: |
|
|
|
| Property, plant and equipment |
|
1,310 |
3,006 |
| Mineral properties |
|
113 |
117 |
| Development costs |
|
– |
397 |
| Receivables and prepayments |
|
1,121 |
– |
|
| Total assets |
|
26,282 |
35,422 |
|
| LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
| Current liabilities: |
|
|
|
| Accounts payable and accrued liabilities |
|
7,142 |
10,108 |
| Loans and bank overdrafts |
|
68 |
5,092 |
|
| Total current liabilities |
|
7,210 |
15,200 |
| End of service benefit obligations |
|
428 |
338 |
|
| Total liabilities |
|
7,638 |
15,538 |
|
| Shareholders’ equity: |
|
|
|
| Share capital |
|
77,827 |
58,563 |
| Contributed surplus |
|
1,909 |
1,196 |
| Deficit |
|
(61,092) |
(39,875) |
|
| Total shareholders’ equity |
|
18,644 |
19,884 |
|
| Total liabilities and shareholders’ equity |
|
26,282 |
35,422 |
|
Signed on behalf of the Board:
| |
|
(Signed) Tom Preststulen
Director
|
(Signed) Trevor Schultz
Director |
The accompanying notes are an integral part of these consolidated financial statements.
|
