ANNUAL REPORT 2006

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2006
Notes 2006
$
Consolidated
2005
$
2006
$
Parent
2005
$
Revenue 2(a) 456,858 125,584 315,368 64,005
Other income 2(b) - 900 549,387 900
Exploration expenditure (2,721,129) (670,201) (31,090) (431,901)
Impairment of security deposit 8 (2,269,687) - - -
Impairment of investment in
subsidiaries
- - (46,639) -
Impairment of loan to subsidiaries - - (6,135,821) (376,099)
Impairment of loan to associated
entity
(79,385) - (79,385) -
Employee benefits expense 10 (163,276) (701,419) (163,276) (701,419)
Depreciation and amortisation
expense
(66,784) (75,259) (36,282) (71,931)
Other expenses 2(c) (2,821,207) (1,865,978) (2,182,812) (1,669,928)
Loss before income tax expense (7,664,610) (3,186,373) (7,810,550) (3,186,373)
Income tax expense 3 - - - -
Loss after tax (7,664,610 ) (3,186,373) (7,810,550 ) (3,186,373)
Loss attributable to minority
interest
Net loss attributable to members
of parent
Total changes in equity other than
those resulting from transactions
with owners as owners
13 2,662,359 - - -
(5,002,251) (3,186,373) (7,810,550) (3,186,373)
(5,002,251) (3,186,373) (7,810,550 ) (3,186,373)
A N N U A L R E P O R T 2 0 0 6
Basic earnings per share
(cents per share)
Diluted earnings per share
(cents per share)
5 (3.6) (3.5)
5 (3.6) (3.5)
The accompanying notes form part of these financial statements
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