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 14: FINANCIAL INSTRUMENT DISCLOSURES (a) The Consolidated Entity’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on those financial assets and liabilities, is as follows: 2006 FINANCIAL ASSETS WEIGHTED AVERAGE EFFECTIVE INTEREST RATE FLOATING INTEREST RATE FIXED INTEREST RATE MATURING IN: 1 YEAR OR LESS OVER 1 TO 5 YEARS MORE THAN 5 YEARS NON INTEREST BEARING TOTAL 2006 2006 2006 2006 2006 2006 2006 % $ $ $ $ $ $ Cash and deposits 5.25 1,875,144 22,137,406 - - - 24,012,550 Receivables - - - - 197,594 197,594 FINANCIAL LIABILITIES Trade creditors and accruals 1,875,144 22,137,406 - - 197,594 24,210,144 - - - - (558,680) (558,680) - - - - (558,680) (558,680) Net Financial Assets 1,875,144 22,137,406 - - (361,086) 23,651,464 2005 FINANCIAL ASSETS WEIGHTED AVERAGE EFFECTIVE INTEREST RATE FLOATING INTEREST RATE FIXED INTEREST RATE MATURING IN: 1 YEAR OR LESS OVER 1 TO 5 YEARS MORE THAN 5 YEARS NON INTEREST BEARING TOTAL 2005 2005 2005 2005 2005 2005 2005 % $ $ $ $ $ $ Cash and deposits 5.25 - 134,759 - - 45,225 179,984 Receivables - - - - 143,700 143,700 FINANCIAL LIABILITIES Trade creditors and accruals - 134,759 - - 188,925 323,684 - - - - (250,451) (250,451) - - - - (250,451) (250,451) Net Financial Assets - 134,759 - - (61,526) 73,233 page 60
NOTE 14: FINANCIAL INSTRUMENT DISCLOSURES (continued) (b) (c) Credit Risk The Consolidated Entity’s maximum exposure to credit risk, excluding the value of any collateral or other security, in relation to each class of recognised financial assets, is the carrying amount, net of any provisions for doubtful debts, as disclosed in the Balance Sheet and Notes to the Financial Statements. The Consolidated Entity does not have any material credit risk to any single debtor group or group of debtors under financial arrangements entered into by the Consolidated Entity. Net Fair Values The net fair values of all monetary financial assets and liabilities approximate their carrying values. No financial assets or financial liabilities are readily traded on organised markets in standardised form. A N N U A L R E P O R T 2 0 0 6 The aggregate net fair values and carrying amounts of financial assets and liabilities are disclosed in the Balance Sheet and Notes to the Financial Statements. NOTE 15: COMMITMENTS AND CONTINGENCIES Commitments There are no outstanding commitments not provided for in the financial statements of the Consolidated Entity as at 30 June 2006 other than: (a) In order to maintain rights of tenure, the Consolidated Entity is committed to outlay an aggregate amount of approximately $347,500 in 2006/2007, (2005/2006: $272,500) for mining tenement rentals and shire rates and to meet the statutory minimum expenditure conditions applying to its tenements. Expenditure commitments for the ensuing year and beyond 2006/2007 will vary according to whether: (i) (ii) (iii) (iv) any of the existing tenements are relinquished or converted to other forms of title; any of the existing tenements are farmed out; new tenements are acquired; and total or partial exemption from expenditure commitments is applied for and granted in respect to individual tenements. (b) Operating Leases Consolidated Parent 2006 2005 2006 2005 Commitments for minimum lease payments $ $ $ $ in relation to non-cancellable operating leases (rental of premises and vehicle lease) are payable as follows: Within one year 138,928 109,826 73,740 62,126 Later than one year but not later than 5 years 292,376 105,128 246,960 50,400 Later than 5 years - - - - 431,304 214,954 320,700 112,526 page 61
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 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: NOTE 13: CONTRIBUTED EQUITY AND RES
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?