Randgold Resources > Financials > Quarterly reports > 2006 > Quarterly Report 31 March 2006
Quarterly Report 31 March 2006
CONSOLIDATED BALANCE SHEET
|
|
|
At |
At |
|
|
At |
31 Dec |
31 Mar |
|
|
31 Mar |
2005 |
2005 |
|
US$000 |
2006 |
(Restated)+ |
(Restated)+ |
|
Assets |
|
|
|
|
Non-current assets |
|
|
|
|
Property, plant and equipment |
214 716 |
202 636 |
148 375 |
|
Cost |
253 375 |
236 331 |
172 755 |
|
Accumulated depreciation and amortisation |
(38 659) |
(33 695) |
(24 380) |
|
Deferred stripping costs |
- + |
- |
- + |
|
Deferred taxation |
2 866 |
2 957+ |
- |
|
Long-term ore stockpiles |
24 710 |
22 176+ |
16 606+ |
|
Total non-current assets |
242 292 |
227 769+ |
164 981 + |
|
Current assets |
|
|
|
|
Deferred stripping costs |
- |
- + |
- + |
|
Inventories and stockpiles |
30 495 |
34 210+ |
7 856+ |
|
Receivables |
49 907 |
47 918 |
33 549 |
|
Cash and cash equivalents |
158 139 |
152 452 |
69 426 |
|
Total current assets |
238 541 |
234 580+ |
110 831+ |
|
Total assets |
480 833 |
462 349+ |
275 812+ |
|
Shareholders' equity |
294 049 |
301 822+ |
190 086+ |
|
Minority interest |
2 617 |
1 395 |
(954) |
|
Total equity |
296 666 |
303 217+ |
189 132+ |
|
Non-current liabilities |
|
|
|
|
Long-term borrowings |
48 786 |
49 538 |
55 798 |
|
Loans from minority shareholders in subsidiaries |
2 533 |
2 483 |
2 452 |
|
Financial liabilities - forward gold sales |
48 710 |
34 151 |
13 583 |
|
Provision for rehabilitation |
9 571 |
9 480 |
3 829 |
|
Total non-current liabilities |
109 600 |
95 652 |
75 662 |
|
Current liabilities |
|
|
|
|
Financial liabilities - forward gold sales |
18 158 |
8 939 |
395 |
|
Current portion of long-term borrowings |
23 504 |
22 991 |
1 171 |
|
Accounts payable and accrued liabilities |
28 500 |
28 813 |
9 452 |
|
Taxation payable |
4 405 |
2 737 |
- |
|
Total current liabilities |
74 567 |
63 480 |
11 018 |
|
Total equity and liabilities |
480 833 |
462 349+ |
275 812+ |
+ Restated due to change in accounting policy relating to deferred stripping. See note on accounting policies.
Main balance sheet movements for the quarter ended 31 March 2006 were as follows :
-
An increase in property, plant and equipment due to the development of Phase 2 at Loulo, including work on the crushing plant.
-
The increase in financial liabilities relating to forward gold sales reflects an increase in the negative marked-to-market valuation of contracts held at 31 March 2006. The impact is due to the sharp rise in the gold price, which was US$582 at 31 March 2006.
-
The increase in taxation payable relates to income taxes at Morila following the end of the five year tax holiday in November 2005.
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