| |
2005 |
2004 |
| MINERAL ORE SALES |
$ 20,366 |
$ - |
| DIRECT COSTS OF MINERAL ORE SALES |
(21,220) |
- |
| DEPLETION, AMORTIZATION AND DEPRECIATION |
(5,632) |
* |
| |
(6,486) |
- |
| |
| EXPENSES |
|
|
| Administration, office and general |
(6,955) |
(5,237) |
| Professional fees |
(847) |
(705) |
| |
(7,802) |
(5,942) |
| |
| CURRENT |
|
|
| Equity (loss) earnings from investment in Barberton Mines Ltd (Note 5) |
(221) |
2,068 |
| Gain on disposal of investment in Metorex Limited |
230 |
180 |
| Gain on disposal of investment in Asia Pacific Resources Ltd |
24 |
601 |
| Gain on disposal of Seqi Olivine I/S (Note 6 (b)) |
9,686 |
- |
| Gain on geothermal asset (Note 6 (f)) |
- |
985 |
| Interest and finance charges (Note 18 (b)) |
(4,176) |
(1,771) |
| Foreign exchange (loss) gain |
(1,886) |
313 |
| Interest and other (expenses) income |
(202) |
635 |
| |
3,455 |
3,011 |
| |
| LOSS BEFORE PROVISION FOR INCOME TAXES AND NON-CONTROLLING INTEREST |
(10,833) |
(2,931) |
| PROVISION FOR INCOME TAXES (Note 10) |
(48) |
- |
| LOSS BEFORE NON-CONTROLLING INTEREST |
(10,881) |
(2,931) |
| |
| NON-CONTROLLING INTEREST |
1,916 |
72 |
| |
| NET LOSS |
(8,965) |
(2,859) |
| DEFICIT, BEGINNING OF YEAR |
(72,105) |
(69,246) |
| DEFICIT, END OF YEAR |
(81,070) |
(72,105) |
| |
| LOSS PER SHARE – BASIC AND DILUTED |
(0.05) |
(0.02) |
| |
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING |
167,424,369 |
143,324,571 |
| |
| |
| See accompanying Notes to the Consolidated Financial Statements. |
RESOURCE DEFINITIONS
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