ANNUAL REPORT - Ashburton Minerals

Notes To The Financial Statements
For The Year Ended 30 June 2007
Note 12: Controlled Entities
(a) Controlled Entities Consolidated
Country of Incorporation Percentage Owned (%)*
2007 2006
Parent Entity:
Ashburton Minerals Ltd Australia - -
Ultimate Parent Entity:
Ashburton Minerals Ltd Australia - -
Subsidiaries of Ashburton Minerals Ltd:
Ashburton Gold Mines NL Australia 100 100
Trans Pacific Gold Pty Ltd Australia 100 100
Trans Pacific Gold Mineracao Ltda Brazil 100 100
Transdrill Pty Ltd Australia 50 50
* Percentage of voting power is in proportion to ownership
(b) Acquisition of Controlled Entities
2007:
There were no acquisitions or disposals of controlled entities during the year.
2006:
On 22 February 2006 Trans Pacific Gold Pty Ltd acquired 50% of Transdrill Pty Ltd for a purchase consideration
of $150,000.
(c) Controlled Entities with Ownership Interest of 50% or Less
Trans Pacific Gold Pty Ltd holds 50% of the ordinary shares of Transdrill Pty Ltd. Trans Pacific Gold Pty Ltd is required
to make all the financial and operating policy decisions of Transdrill Pty Ltd and to ensure that those policies are
consistent with the policies of the Economic Entity.
Total consideration is made up as follows:
Economic Entity 30 June 2006
$
Cash consideration 150,000
Details of the Controlled Entity acquired are as follows:
Assets and liabilities held at acquisition date:
Cash 45,187
Receivables 14,785
Property, plant & equipment 95,290
Payables (150,047)
Net assets/(liabilities) acquired 5,215
Total goodwill on acquisition 144,785
Ashburton Minerals Ltd 2007
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