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COPY OF FINAL PROSPECTUS - Mirabela Nickel

COPY OF FINAL PROSPECTUS - Mirabela Nickel

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MIRABELA NICKEL LIMITED<br />

STATEMENTS <strong>OF</strong> CHANGES IN EQUITY<br />

For the year ended 30 June 2006<br />

Consolidated<br />

For the year ended 30 June 2006 Note Issued capital Accumulated losses Reserves Total equity<br />

(AUD) (AUD) (AUD) (AUD)<br />

Balance at 1 July 2005 ........................ 6,447,097 (620,741) 469,624 6,295,980<br />

Equity settled share based payment transactions ........ — — 242,339 242,339<br />

Share issue net of issue costs .................... 16 13,615,417 — — 13,615,417<br />

Effect of translation of foreign operations to group<br />

presentation currency ........................ — — 1,261,357 1,261,357<br />

Net loss for the period ........................ — (925,760) — (925,760)<br />

Balance at 30 June 2006 ....................... 20,062,514 (1,546,501) 1,973,320 20,489,333<br />

Consolidated<br />

For the year ended 30 June 2005 Note Issued capital Accumulated losses Reserves Total equity<br />

(AUD) (AUD) (AUD) (AUD)<br />

Opening balance as at 1 April 2004 ................ — — — —<br />

Share issue net of issue costs .................... 16 6,447,097 — — 6,447,097<br />

Effect of translation of foreign operations to group<br />

presentation currency ........................ — — 468,904 468,904<br />

Option issues — 3,600,000 options exercisable at 20c on or<br />

before 31 May 2008 ......................... — — 720 720<br />

Net loss for the period ........................ — (620,741) — (620,741)<br />

Balance at 30 June 2005 ....................... 6,447,097 (620,741) 469,624 6,295,980<br />

The Company<br />

For the year ended 30 June 2006 Note Issued capital Accumulated losses Reserves Total equity<br />

(AUD) (AUD) (AUD) (AUD)<br />

Balance at 1 July 2005 ........................ 6,447,097 (1,485,328) 720 4,962,489<br />

Equity settled share based payment transactions ........ — — 242,339 242,339<br />

Share issue net of issue costs .................... 16 13,615,417 — — 13,615,417<br />

Net loss for the period ........................ — (3,500,208) — (3,500,208)<br />

Balance at 30 June 2006 ....................... 20,062,514 (4,985,536) 243,059 15,320,037<br />

The Company<br />

For the year ended 30 June 2005 Note Issued capital Accumulated losses Reserves Total equity<br />

(AUD) (AUD) (AUD) (AUD)<br />

Opening balance as at 1 April 2004 ................ — — — —<br />

Share issue net of issue costs .................... 16 6,447,097 — — 6,447,097<br />

Option issues — 3,600,000 options exercisable at 20c on or<br />

before 31 May 2008 ......................... — — 720 720<br />

Net loss for the period ........................ — (1,485,328) — (1,485,328)<br />

Balance at 30 June 2005 ....................... 6,447,097 (1,485,328) 720 4,962,489<br />

The accompanying notes form part of these financial statements.<br />

Comparative information is for the 16 month period ending 30 June 2005.<br />

F-5

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