2011 Annual Report (3 April 2012) - Grange Resources
2011 Annual Report (3 April 2012) - Grange Resources
2011 Annual Report (3 April 2012) - Grange Resources
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<strong>2011</strong> ANNUAL REPORT<br />
87<br />
NOTE 41. PARENT ENTITY FINANCIAL<br />
INFORMATION<br />
(a)<br />
Summary financial information<br />
The individual financial statements for the parent entity show the<br />
following aggregate amounts:<br />
31 December 31 December<br />
<strong>2011</strong> 2010<br />
$’000 $’000<br />
NOTE 42. EVENTS OCCURRING AFTER<br />
tHE REPORTING PERIOD<br />
Except as disclosed in Note 31, no other matter or circumstance<br />
has arisen since 31 December <strong>2011</strong> that has significantly<br />
affected, or may significantly affect:<br />
◆◆<br />
◆◆<br />
◆◆<br />
the Group’s operations in future financial years; or<br />
the results of those operations in future financial years; or<br />
the Group’s state of affairs in future financial years.<br />
Balance sheet<br />
Current assets 94,520 28,738<br />
Total assets 423,221 348,961<br />
Current liabilities 19,510 8,742<br />
Total liabilities 106,525 40,820<br />
Shareholders’ equity<br />
Contributed equity 390,539 389,874<br />
Reserves<br />
Share-based payments 34,232 34,146<br />
Retained profits/(losses) (108,075) (115,879)<br />
Total equity 316,696 308,141<br />
Profit / (loss) for the period 30,859 (5,652)<br />
Total comprehensive income / (loss)<br />
for the period 30,859 (5,652)<br />
(b)<br />
Contingent liabilities of the parent entity<br />
Bank deposits / guarantees<br />
A bank deposit has been made by the parent entity for the<br />
amount of $1,000,000 (December 2010: $1,000,000), in<br />
accordance with the terms of a Heads of Agreement dated<br />
17 February 2005 to acquire land in the Malaysian port city<br />
of Kemaman and to secure port facilities in relation to the<br />
Southdown project.<br />
A bank guarantee has been provided by the parent entity, on<br />
demand by the Perth Diocesan Trustees for the amount of<br />
$135,072 (December 2010: $135,072), in accordance with the<br />
terms of an office lease agreement dated 20 July 2005 to lease<br />
office premises in QBE House.<br />
Other contingent liabilities<br />
Pursuant to the terms of an agreement dated 21 November<br />
2003, under which the Company purchased certain tenements<br />
comprising the Southdown project, the Company is required<br />
to make a further payment of $1,000,000 to MedAire, Inc upon<br />
commencement of commercial mining operations from those<br />
tenements.<br />
DirectorS’ <strong>Report</strong><br />
Financial Statements<br />
Shareholder information
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