Aeris Annual Report 2022

Aeris Resources Limited
Notes to the consolidated financial statements
30 June 2022
2. Revenue from contracts with customers (continued)
Other revenue
Other revenue is recognised when it is received or when the right to receive payment is established.
Interest
Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the
amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest
rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial
asset to the net carrying amount of the financial asset.
3. Expenses
Profit before income tax includes the following specific expenses:
2022 2021
$'000 $'000
Cost of goods sold
Cost of production:
Mining activities 279,542 252,002
Depreciation:
Plant and equipment 21,702 23,451
Plant and equipment under leases 5,024 2,790
Total depreciation 26,726 26,241
Amortisation:
Mine properties 47,167 59,652
Total cost of goods sold 353,435 337,895
Administration
Corporate depreciation 225 80
Corporate lease depreciation 216 227
Other corporate expenses 13,393 14,168
Total administration expense 13,834 14,475
Exploration expense
Exploration expenditure - 454
Transaction expense
Legal expenses 860 176
Consulting expense 1,090 145
Stamp duty - 3,747
Other expenses 1 -
Total transaction expense 1,951 4,068
9
ADVANCING AERIS
85