BISICHI MINING PLC ANNUAL REPORT 2017
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Financial statements Notes to the financial statements<br />
19. FINANCIAL LIABILITIES – BORROWINGS CONTINUED<br />
Consistent with others in the mining and property industry, the group monitors its capital by its gearing levels. This is calculated as the total bank<br />
loans and overdraft less remaining cash and cash equivalents as a percentage of equity. At year end the gearing of the group was calculated as<br />
follows:<br />
Total bank loans and overdraft 7,160 9,234<br />
Less cash and cash equivalents (excluding overdraft) (5,327) (2,444)<br />
Net debt 1,833 6,790<br />
Total equity attributable to shareholders of the parent 17,209 16,657<br />
Gearing 10.7% 40.8%<br />
Analysis of the changes in liabilities arising from financing activities:<br />
Bank<br />
borrowings<br />
(including<br />
overdraft)<br />
£’000<br />
Finance<br />
leases<br />
£’000<br />
Balance at 1 January 9,234 181 9,415 8,401<br />
Exchange adjustments (4) - (4) 854<br />
Cash movements excluding exchange adjustments (2,070) - (2,070) 173<br />
Valuation movements - (29) (29) (13)<br />
Balance at 31 December 7,160 152 7,312 9,415<br />
20. PROVISION FOR REHABILITATION<br />
As at 1 January 1,236 847<br />
Exchange adjustment 21 311<br />
Unwinding of discount 92 78<br />
As at 31 December 1,349 1,236<br />
<strong>2017</strong><br />
£’000<br />
<strong>2017</strong><br />
£’000<br />
<strong>2017</strong><br />
£’000<br />
2016<br />
£’000<br />
2016<br />
£’000<br />
2016<br />
£’000<br />
78 Bisichi Mining <strong>PLC</strong>
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