2012 Annual Report (2 April 2013) - Grange Resources
2012 Annual Report (2 April 2013) - Grange Resources
2012 Annual Report (2 April 2013) - Grange Resources
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68<br />
PAGE<br />
<strong>2012</strong> ANNUAL REPORT<br />
Notes to the Financial Statements (cont.)<br />
NOTE 12. INVENTORIES<br />
<strong>2012</strong> 2011<br />
$’000 $’000<br />
Stores and spares 21,840 19,692<br />
Ore stockpiles (at cost) 18,705 11,687<br />
Work-in-progress (at cost) 1,417 422<br />
Finished goods (at cost) 17,470 36,377<br />
NOTE 13. AVAILABLE-FOR-SALE<br />
FINANCIAL ASSETS<br />
59,432 68,178<br />
<strong>2012</strong> 2011<br />
$’000 $’000<br />
Listed securities<br />
Listed Australian equities - -<br />
(a) Movements in available-for-sale<br />
financial assets<br />
Movements in available-for-sale financial<br />
assets are set out below:<br />
Balance at the beginning of the period - 984<br />
Additions - -<br />
Revaluation gain recognised in the<br />
income statement - -<br />
Disposals - (984)<br />
Balance at the end of the period - -<br />
NOTE 14. INTANGIBLE ASSETS<br />
<strong>2012</strong> 2011<br />
$’000 $’000<br />
Carbon Units (1) 5,548 -<br />
5,548 -<br />
(1) Represents the fair value of the first allocation of free carbon units<br />
issued to <strong>Grange</strong> <strong>Resources</strong> (Tasmania) Pty Ltd pursuant to the<br />
Clean Energy Act 2011 and the Clean Energy Regulations 2011 for<br />
the <strong>2012</strong>-13 vintage year.<br />
NOTE 15. RECEIVABLES<br />
<strong>2012</strong> 2011<br />
$’000 $’000<br />
Security deposits 6,937 13,824<br />
6,937 13,824<br />
(1) Non-current security deposits comprises of restricted deposits that<br />
are used for monetary backing for performance guarantees.<br />
(a) Risk exposure<br />
Information about the Group’s exposure to credit risk, foreign<br />
exchange and interest rate risk is provided in Note 2. The<br />
maximum exposure to credit risk at the reporting date is the<br />
carrying amount of each class of receivables mentioned above.<br />
NOTE 16. PROPERTY, PLANT AND EQUIPMENT<br />
Land and Plant and Computer<br />
buildings equipment equipment Total<br />
$’000 $’000 $’000 $’000<br />
At 1 January <strong>2012</strong><br />
Cost or fair value 53,729 254,281 2,001 310,011<br />
Accumulated depreciation (16,324) (122,828) (1,481) (140,633)<br />
Net book amount 37,405 131,453 520 169,378<br />
Year ended 31 December <strong>2012</strong><br />
Opening net book amount 37,405 131,453 520 169,378<br />
Additions 457 26,974 410 27,841<br />
Disposals (119) (91) (34) (244)<br />
Depreciation charge (2,941) (21,673) (482) (25,096)<br />
Closing net book amount 34,802 136,663 414 171,879<br />
At 31 December <strong>2012</strong><br />
Cost or fair value 54,067 281,164 2,377 337,608<br />
Accumulated depreciation (19,265) (144,501) (1,963) (165,729)<br />
Net book amount 34,802 136,663 414 171,879
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