| |
|
2007 |
|
2006 |
| |
|
$ 000 |
|
$ 000 |
| a) |
Taxation paid |
|
|
|
| |
Balance at the beginning of the year |
119 |
|
– |
| |
Current taxation as per income statement |
|
|
|
| |
Normal taxation |
163 |
|
119 |
| |
Balance at the end of the year |
(186) |
|
(119) |
| |
Taxation paid |
96 |
|
– |
|
|
|
|
|
|
b)
|
Acquisition of subsidiaries
|
|
|
|
| |
In November 2005, the Company acquired the common shares and other assets of ARM’s non-South Africa mineral and exploration interests. |
|
|
|
| |
|
|
|
| |
The following assets and liabilities were acquired: |
|
|
|
| |
Capital assets |
– |
|
33 |
| |
Accounts receivable and prepaid expenses |
– |
|
64 |
| |
Accounts payable and provisions |
– |
|
(646) |
| |
Cash and cash equivalents |
– |
|
48 |
| |
Net liabilities |
– |
|
(501) |
| |
Purchase price (in cash) |
– |
|
(575) |
| |
Deficit arising on acquisition |
– |
|
(1,076) |
| |
Cash acquired |
– |
|
48 |
| |
Cash purchase price |
– |
|
(575) |
| |
Net cash paid on acquisition |
– |
|
(527) |
| |
|
|
|
|
| c) |
Interest paid |
|
|
|
| |
Balance at the beginning of the year |
– |
|
– |
| |
Interest paid charge as per income statement |
45 |
|
– |
| |
Balance at the end of the year |
(22) |
|
– |
| |
Interest paid |
23 |
|
– |