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NOTES TO THE FINANCIAL STATEMENTSFor the year ended 30 June 2009Note 3 Critical Accounting Estimates And Judgements cont.(iii) Impairment of assets cont.Value in use in relation to the Group’s Leonora and Southern Cross cash generating units at 30 June 2009 was determinedby discounting the future cash flows generated from the continuing use of each operation and was based on the followingkey assumptions:• Cash flows were projected based on the life of mine plan of each operation, which is predominantly based on ore reserves.• Revenue was projected at a gold price of A$1,200 per ounce for the first three years of the life of mine plans, and a longterm gold price of A$850 per ounce.• Cash operating costs were not inflated (expressed in real terms).• A pre-tax discount rate of 9% based on the weighted average cost of capital.The above estimates are particularly sensitive to a change in the gold price.(iv) Exploration and evaluation expenditureAs set out in Note 1(f) exploration and evaluation expenditure is capitalised where reserves have been established for anarea of interest and it is considered likely to be recoverable from future exploitation or sale. The accounting policy requiresmanagement to make certain estimates and assumptions as to future events and circumstances, in particular whether aneconomically viable extraction operation can be established. These estimates and assumptions may change as new informationbecomes available. If, after having capitalised the expenditure under the accounting policy, a judgement is made that recoveryof the expenditure is unlikely, the relevant capitalised amount will be written off to the income statement.(v) Rehabilitation and mine closure provisionsAs set out in Note 1(x), the value of these provisions represents the discounted value of the present obligation to restore,dismantle and rehabilitate each site. Significant judgement is required in determining the provisions for mine rehabilitationand closure as there are many transactions and other factors that will affect the ultimate costs necessary to rehabilitate themine sites. The discounted value reflects a combination of management’s best estimate of the cost of performing the workrequired, the timing of the cash flows and the discount rate.A change in any, or a combination of, the key assumptions used to determine the provisions could have a material impact onthe carrying value of the provisions (refer to Note 23). The provision recognised for each site is reviewed at each reportingdate and updated based on the facts and circumstances available at the time. Changes to the estimated future costs foroperating sites are recognised in the balance sheet by adjusting both the restoration and rehabilitation asset and provision.(vi) Deferred taxThe consolidated entity has not recognised a net deferred tax asset of $53,247,000 as at 30 June 2009 (2008: $24,950,000)on the basis that the ability to utilise the temporary differences and tax losses is not probable as at the reporting date.(vii) Recognition of contingenciesAs disclosed in Note 27 to the financial statements, the consolidated entity and Company has a contingent liability in respectof a legal claim.Note 4 Segment InformationThe consolidated entity operates predominantly in the minerals exploration and mining industry in Australia.The consolidated entity’s head office is in Australia.stbarbara.com.au – Annual Report 2009: 65
NOTES TO THEFINANCIAL STATEMENTSFor the year ended 30 June 2009Note 5 Revenueconsolidatedparent entity2009 2008 2009 2008$’000 $’000 $’000 $’000Sales revenue – continuing operationsSale of gold 279,824 142,394 279,824 142,394Sale of silver 1,305 735 1,305 735281,129 143,129 281,129 143,129Other revenueInterest revenue 3,044 5,053 3,044 5,053Interest revenue capitalised – (1,371) – (1,371)Sub-lease rental 288 305 288 305Discount on convertible notes buy back 1,935 – 1,935Royalties 144 859 144 8595,411 4,846 5,411 4,846Total revenue 286,540 147,975 286,540 147,975Note 6 Other incomeconsolidatedparent entity2009 2008 2009 2008$’000 $’000 $’000 $’000Profit on sale of assets 110 14 110 14Profit on sale of investment – 141 – 226Other 113 40 113 40223 195 223 28066
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INSTRUCTIONSTURN PAGESby clicking t
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Vision statementTo be a successful
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Highlights for Fiscal YEAR 2009Prod
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CEO’s ReportThe 2010 fiscalyear w
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OperationsLEONORA• Gwalia mine co
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Operations continuedSouthern Cross
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ExplorationDrilling established hig
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Environment, Safety andSocial Respo
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Page 105 and 106: Shareholder InformationFor the year
Page 107 and 108: Corporate DirectoryBoard of Directo
Page 109: Studio Periscope 2009 All Rights Re
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INSTRUCTIONS - Realview

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