Update on Merger with Polymetals - Notice of Meeting

Polymetals Mining Limited
Value of other
assets and
Value of other
assets and
Unaudited as at liabilities as at liabilities as at
31-Mar-13 31-Mar-13 31-M ar-13
Low
High
Statement of Financial Position Note $'000 $'000 $'000
CURRENT ASSETS
Cash and cash equivalents a 9,654 12,861 13,469
Receivables 168 168 168
Inventories 18 18 18
Deferred tax asset 1,598 1,598 1,598
TOTAL CURRENT ASSETS 11,438 14,645 15,253
NON-CURRENT ASSETS
Receivables b 334 - -
Property, plant and equipment c 2,826 - -
Other financial assets d 233 - -
Exploration and development costs e 15,290 - -
Capitalised mining development costs e 537 - -
Available for sale financial assets f 316 270 270
TOTAL NON-CURRENT ASSETS 19,536 270 270
TOTAL ASSETS 30,974 14,915 15,523
CURRENT LIABILITIES
Trade and other payables 996 996 996
Current tax liability g 112 - -
Deferred tax liability 3,797 3,797 3,797
Provisions h 979 531 531
Deferred consideration 1,941 - -
TOTAL CURRENT LIABILITIES 7,825 5,324 5,324
NON-CURRENT LIABILITIES
Provisions 77 77 77
TOTAL NON-CURRENT LIABILITIES 77 77 77
TOTAL LIABILITES 7,902 5,401 5,401
NET ASSETS 23,072 9,514 10,122
Note a: Cash and cash equivalents
On 28 May 2013, PLY announced it had divested its 50% interest in White Dam and associated Drew Hill
exploration tenements to joint venture partner Exco Resources Limited. In consideration for these assets,
PLY will receive $1.44 million. We have adjusted the cash balance as at 31 March 2013 to reflect this
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