ANNUAL REPORT 2006

More documents

Recommendations

Info

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 8: OTHER FINANCIAL ASSETS (continued) Subsidiaries 2006 2005 Country of % Carrying % Carrying Incorporation Holding Value Holding Value Subsidiaries of $ $ Platinum Australia Limited: Platinum Exploration NL Australia 100 - 100 - Platinum Australia SA (Pty) Ltd South Africa 100 - 100 - Rivers Platinum Mining (Mauritius) Mauritius 100 28,880 100 - Smokey Hills Platinum Mining (Mauritius) Mauritius 100 5,601 100 - Stella Platinum Mining (Mauritius) Mauritius 100 28,880 100 - Platinum Rivers Project (Pty) Ltd South Africa 100 - 100 - Stella Platinum (Pty) Ltd South Africa 100 - 100 - Smokey Hills Platinum (Pty) Ltd South Africa 1 - - - Phokathaba Platinum (Pty) Ltd South Africa 0.8 - - - 63,361 - All subsidiaries are owned by Platinum Australia Limited except Platinum Rivers Project (Pty) Ltd, which is owned by Rivers Platinum Mining (Mauritius), Stella Platinum (Pty) Ltd which is owned by Stella Platinum Mining (Mauritius), Smokey Hills Platinum (Pty) Ltd, which is owned by Smokey Hills Platinum Mining (Mauritius) and Phokathaba Platinum (Pty) Ltd which is owned by Smokey Hills Platinum (Pty) Ltd. The consolidated entity has a contractual arrangement whereby it acquired 1% of the issued capital in Smokey Hills Platinum (Pty) Ltd, which in turn owns 80% of the issued capital of Phokathaba Platinum (Pty) Ltd. By that contractual arrangement the consolidated entity has control of the board of Smokey Hills Platinum (Pty) Ltd and on South African Government approval of the transfer of the new order right (see note 6b(ii)) the consolidated entity’s interest in Smokey Hills Platinum (Pty) Ltd will increase to 74% with an option to increase this to 100%. page 54
NOTE 9: PROPERTY, PLANT AND EQUIPMENT 2006 $ Consolidated 2005 $ 2006 $ Parent 2005 $ Plant, equipment, vehicles and furniture - cost 621,207 530,141 504,068 471,154 Less: Accumulated depreciation (472,416) (408,644) (441,600) (405,316) Total Property Plant & Equipment 148,791 121,497 62,468 65,838 A N N U A L R E P O R T 2 0 0 6 Reconciliation: Motor Vehicles Plant & Equipment Office Furniture 2006 $ $ $ $ Opening written down value 32,859 62,991 25,647 121,497 Additions 36,219 18,038 39,195 93,452 Disposals - - - - Depreciation (14,696) (35,696) (16,392) (66,784) Exchange differences 549 244 (167) 626 Closing written down value 54,931 45,577 48,283 148,791 Total Reconciliation: Motor Vehicles Plant & Equipment Office Furniture 2005 $ $ $ $ Opening written down value 33,012 53,277 48,079 134,368 Additions 7,687 32,034 22,667 62,388 Disposals - - - - Depreciation (7,840) (22,320) (45,099) (75,259) Closing written down value 32,859 62,991 25,647 121,497 Total page 55
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 and 52: NOTE 4: SEGMENT REPORTING (continue
Page 53 and 54: NOTE 6: CASH AND CASH EQUIVALENTS 2
Page 55: NOTE 7: RECEIVABLES Current 2006 $
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
show all

ANNUAL REPORT 2006

Create successful ePaper yourself

Delete template?

Save as template?