2011 Annual Illustrative IFRS Financial Statements - BDO Canada

Precious & Other Metals ExplorationSTATEMENT OF CASH FLOWSExpressed in Canadian DollarsFor the year-ended December 31, 2011References: IAS 1.10(d), IAS 7.10, IAS 7.17, IAS 7.18, IAS 7.20, IAS 7.21, IAS 7.31, IAS 7.35, IAS 7.43, IAS 7.45Reference: December 31,2011$’000December 31,2010$’000IAS 7.18-21Cash flows from operating activitiesLoss for the year $ (xxx) $ (xxx)Adjustments to reconcile loss to net cash used in operatingactivities:Depreciation (Note 9) xxx xxxInterest income xxx xxxFinance expense xxx xxxIncome tax expense xxx xxxChanges in non-cash working capital balances:Other receivables xxx xxxPrepaid expenses xxx xxxTrade and other payables xxx xxxOther liabilities xxx xxxProvisions xxx xxxCash generated from operations xxx xxxIAS 7.35 Income tax paid xxx xxxIAS 7.10 Total cash inflows from operating activities $ xxx $ xxxCash flows from investing activitiesAcquisition of property, plant and equipment (xxx) (xxx)Investment in exploration and evaluation assets (xxx) (xxx)Change in reclamation deposits xxx xxxIAS 7.31 Interest received xxx xxxIAS 7.10 Total cash (outflows) from investing activities $ (xxx) $ (xxx)IAS 7.17 Cash flows from financing activitiesProceeds from share issuance xxx xxxCosts of issue of shares (xxx) (xxx)Proceeds from exercise of stock options xxx xxxIAS 7.31 Interest paid (xxx) (xxx)IAS 7.10 Total cash inflows from financing activities $ xxx $ xxxTotal increase in cash during the year $ xxx $ xxxCash and cash equivalents at beginning of year $ xxx $ xxxIAS 7.45 Cash and cash equivalents at end of year $ xxx $ xxxThe accompanying notes form an integral part of these financial statementsPAGE 5 OF 35BDO CANADA LLP