Avocet Mining PLC Prospectus December 2011

c105718pu060 Proof 5: 7.12.11_13:42 B/L Revision:
10. OTHER FINANCIAL ASSETS
30 June 2010
(six months)
Unaudited
30 June 2011
(six months)
Audited
US$000 US$000
At 1 January 9,428 20,293
Disposals (569) (17,390)
Fair value adjustment (2,676) (2,903)
At 30 June 6,183 —
Other financial assets disposed of during the six months ended 30 June 2010 represented the
Company’s interests of 19 per cent in Dynasty Gold Corporation (Dynasty) (see note 9).
Other financial assets disposed of during the six months ended 30 June 2011 represented the
Company’s interests in Avion Gold Corporation (see note 9).
Other financial assets at 30 June 2010 were a 15 per cent holding in Monument Mining Limited, a
company listed on the TSX Venture Exchange in Canada.
All of the investments discussed above were accounted for as other financial assets rather than equity
accounted, on the basis that the Company was not in a position to exercise significant influence over
the activities of, and has no board representation in, any of the companies. The shares were measured
at fair value, with gains or losses on re-measurement recognised in equity. On disposal, accumulated
gains or losses previously recognised in equity were recognised in the income statement as an
exceptional gain or loss (note 9).
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