CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
FOR THE YEAR ENDED DECEMBER 31
| (all amounts in US dollars thousands except for per share amounts) |
Note |
2004 |
2003 |
|
| Gold sales |
|
30,377 |
33,727 |
| Costs and expenses |
|
|
|
| Cash operating costs |
|
(29,897) |
(32,044) |
| Amortization |
|
(3,008) |
(1,713) |
| Exploration |
|
(15,105) |
(8,835) |
| Corporate administration |
|
(4,373) |
(5,731) |
|
| |
|
(52,383) |
(48,323) |
|
| Loss from operations |
|
(22,006) |
(14,596) |
| Finance income, net |
|
789 |
400 |
| Share of loss in associate after tax |
|
– |
(25) |
|
| Loss before income taxes |
|
(21,217) |
(14,221) |
| Income tax expense |
|
– |
– |
|
| Net loss for the year |
|
(21,217) |
(14,221) |
| Deficit at the beginning of the year |
|
(39,875) |
(25,654) |
|
| Deficit at the end of the year |
|
(61,092) |
(39,875) |
|
| Weighted average number of shares outstanding (thousands of shares) |
|
|
|
| Basic and diluted |
|
159,187 |
116,523 |
|
| Loss per share |
|
159,187 |
116,523 |
| Basic and diluted |
|
(0.13) |
(0.12) |
|
The accompanying notes are an integral part of these consolidated financial statements.
|
