ANNUAL REPORT 2006

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P L AT I N U M A U S T R A L I A A N N U A L R E P O R T 2 0 0 6 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 NOTE 5: LOSS PER SHARE Consolidated 2006 2005 Cents per share Cents per share Basic loss per share: (3.6) (3.5) Basic loss per share $ $ The earnings and weighted average number of ordinary shares used in the calculation of basic loss per share is as follows: Loss (refer (i)) (5,002,251) (3,186,373) Weighted average number of ordinary shares for the purposes of basic loss per share 140,798,381 91,386,790 (i) Loss used in the calculation of total basic loss per share reconciles to net loss in the income statement as follows: Net loss (7,664,610) (3,186,373) Losses attributable to minority shareholders 2,662,359 - Loss used in the calculation of basic loss per share (5,002,251) (3,186,373) Diluted loss per share Diluted earnings per share has not been disclosed as it is not materially different from the basic earnings per share. page 50
NOTE 6: CASH AND CASH EQUIVALENTS 2006 $ Consolidated 2005 $ 2006 $ Parent 2005 $ Cash at bank and on hand 1,875,144 45,225 1,491,406 10,070 Short-term deposits [(b) (i),(ii)] 14,407,093 2,500,168 12,137,681 132,529 Long-term deposits 10,000,000 - 10,000,000 - 26,282,237 2,545,393 23,629,087 142,599 Less cash reclassified to other assets [Note (b)] (2,269,687) (2,365,409) - - 24,012,550 179,984 23,629,087 142,599 A N N U A L R E P O R T 2 0 0 6 Cash at bank earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods of between one day and three months, depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates. Long-term deposits are made for periods between 3 months and 1 year, earning interest at the respective long-term rates. As they mature they are reinvested according to the cash requirements of the group into further short-term and long-term deposits. (a) Reconciliation to Cash Flow Statement: For the purposes of the cash flow statement, cash and cash equivalents comprise cash on hand and at bank and investments in money market instruments, net of outstanding bank overdrafts. Cash and cash equivalents as shown in the cash flow statement are reconciled to the related items in the balance sheet as follows: Cash and cash equivalents 24,012,550 179,984 23,629,087 142,599 (b) Cash balances not available for use (i) Included in this balance is an amount of $131,856 (2005: $118,500) which is used as security for Department of Industry and Resources performance bonds amounting to $116,500 (2005: $106,500). (c) (ii) Previously included in consolidated short-term deposits was an amount of $2,269,687 ($2005 $2,365,409) [ZAR12,047,500] which has been reclassified to other assets (See Note 8), as the funds secure a bank guarantee held as consideration for the acquisition of an interest in the Smokey Hills Project, which must be paid pending South African Government approval of the transfer of a new order right. Acquisition of subsidiaries During the previous year, the parent entity acquired 100% of the issued capital of Rivers Platinum Mining (Mauritius), Smokey Hills Platinum Mining (Mauritius) and Stella Platinum Mining (Mauritius). During the current year, the parent entity subscribed for capital in these companies amounting to: - - 110,000 - page 51
Page 1 and 2: ANNUAL REPORT 2006
Page 3 and 4: ITEM PAGE Chairman’s Report 2 Rev
Page 5 and 6: Interpretation of detailed aeromagn
Page 7 and 8: PLATINUM GROUP METALS Platinum Aust
Page 9 and 10: Project Development PLA has complet
Page 11 and 12: • Cash Operating Cost of US$226/o
Page 13 and 14: Project Development Platinum Austra
Page 15 and 16: A N N U A L R E P O R T 2 0 0 6 Pan
Page 17 and 18: The Board is responsible for settin
Page 19 and 20: The Chairman of the Board will chai
Page 21 and 22: DIRECTORS’ REPORT The directors o
Page 23 and 24: 3. PRINCIPAL ACTIVITIES The princip
Page 25 and 26: B Details of Remuneration (this inf
Page 27 and 28: Milestone 1 was achieved in July 20
Page 29 and 30: 13. ENVIRONMENTAL COMPLIANCE The Co
Page 31 and 32: CONSOLIDATED INCOME STATEMENT FOR T
Page 33 and 34: CONSOLIDATED CASH FLOW STATEMENT FO
Page 35 and 36: CONSOLIDATED STATEMENT OF CHANGES I
Page 37 and 38: NOTE 1: STATEMENT OF SIGNIFICANT AC
Page 49 and 50: NOTE 3: INCOME TAX Consolidated 200
Page 51: NOTE 4: SEGMENT REPORTING (continue
Page 55 and 56: NOTE 7: RECEIVABLES Current 2006 $
Page 57 and 58: NOTE 9: PROPERTY, PLANT AND EQUIPME
Page 59 and 60: NOTE 10: SHARE BASED PAYMENT PLANS
Page 61 and 62: NOTE 13: CONTRIBUTED EQUITY AND RES
Page 63 and 64: NOTE 14: FINANCIAL INSTRUMENT DISCL
Page 65 and 66: NOTE 17: INTEREST IN ASSOCIATE Name
Page 67 and 68: NOTE 22: KEY MANAGEMENT PERSONNEL D
Page 69 and 70: NOTE 23: TRANSITION TO AIFRS (conti
Page 71 and 72: NOTE 24: CHANGES TO ACCOUNTING STAN
Page 73 and 74: DIRECTORS’ DECLARATION 1. In the
Page 75 and 76: Independence In conducting our audi
Page 77 and 78: SHAREHOLDERS INFORMATION AT 28 SEPT
Page 80: 3rd Floor, 18 Richardson Street Wes

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