Unaudited

Unaudited

9 months

9 months

ended

ended

30 Sept

30 Sept

US$000

2005

2004

Profit on ordinary activities before taxation and minority interest

28 461

3 608 §

Adjustment for non-cash items

14 429

(531) §

Working capital changes

(26 639)

( 7 038)

Net cash generated from/(utilised in) operations

16 251

(3 961)

Net cash utilised in investing activities

Additions to property, plant and equipment

(60 798)

(57 409)

Financing of contractors

(17 930)

-

Movement in restricted cash

-

3 882

Disposal of Syama - net of cash disposed

-

8 571

Net cash generated by/(utilised in) financing activities

    Ordinary shares issued

1 696

1 996

    Increase/(decrease) in long-term borrowings

27 563

(9 550)

Net decrease in cash and cash equivalents

(33 218)

(56 471)

Cash and cash equivalents at beginning of period

78 240

109 357

Cash and cash equivalents at end of period

45 022

52 886