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Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2019
Text block [abstract]  
Summary of Results of Discontinued Operation
The financial results of Darlot were presented as a discontinued operation in the consolidated financial statements.
 
 
  
UNITED STATES DOLLAR
 
 
  
 
 
  
2017
 
Below is a summary of the results of the discontinued operation for the year ended 31 December:
 
  
   
Revenue
  
   
  
 
49.0
 
Cost of sales
  
   
  
 
(50.7
) 
 
  
   
  
 
 
 
Cost of sales before gold inventory change and amortisation and depreciation
  
   
  
 
(46.3
) 
Gold inventory change
  
   
  
 
(0.9
) 
Amortisation and depreciation
  
   
  
 
(3.5
) 
 
  
   
  
 
 
 
Other costs, net
  
   
  
 
(1.9
) 
 
  
   
  
 
 
 
Loss before royalties and taxation
  
   
  
 
(3.6
) 
Royalties
  
   
  
 
(1.1
) 
 
  
   
  
 
 
 
Loss before taxation
  
   
  
 
(4.7
) 
Mining and income taxation
  
   
  
 
1.4
 
 
  
   
  
 
 
 
Loss for the year from operating activities
  
   
  
 
(3.3
) 
Gain on sale of discontinued operation
  
   
  
 
23.5
 
Income tax on gain on sale of discontinued operation
  
   
  
 
(7.1
) 
 
  
   
  
 
 
 
Profit from discontinued operation, net of tax
  
   
  
 
13.1
 
 
  
 
Summary of Assets and Liabilities of Discontinued Operation
 
  
2017
 
 
  
US$
 
  
A$
 
Below is a summary of assets and liabilities of the discontinued operation at 2 October 2017:
  
   
  
   
Property, plant and equipment
  
 
3.3
 
  
 
4.3
 
Inventories
  
 
7.2
 
  
 
9.4
 
Trade and other receivables
  
 
0.1
 
  
 
0.1
 
Trade and other payables
  
 
(8.7
) 
  
 
(11.3
) 
Environmental rehabilitation costs provision
  
 
(12.9
) 
  
 
(16.9
) 
Net liabilities
  
 
(11.0
) 
  
 
(14.4
) 
Total consideration received less costs to sell
1
  
 
12.5
 
  
 
16.4
 
Gain on sale of discontinued operations
  
 
23.5
 
  
 
30.8
 
 
1
 		 Due to the discounting of the deferred consideration and the transaction costs incurred, the total consideration of A$16.4 million used in the determination of the gain on sale of discontinued operations is less than the A$18.5 million per the agreement.
Assets Held for Sale The costs associated with the termination of the contract include:
 
  
 
 
  
2019
 
 
  
Notes
 
  
US$
 
Amount recognised as assets held for sale:
  
   
  
   
Mining fleet
1
  
 
12.2
 
  
 
31.2
 
 
  
   
  
 
 
 
 
  
   
  
 
31.2
 
 
  
   
  
 
 
 
Amount recognised in profit or loss:
  
   
  
   
Premium on mining fleet - 25%
1
  
   
  
 
7.8
 
Demobilisation costs
  
   
  
 
1.3
 
Early termination payment (paid before 31 December 2019)
  
   
  
 
4.0
 
 
  
   
  
 
 
 
 
  
 
7
 
  
 
13.1
 
 
  
   
  
 
 
 
Amount recognised in trade and other payables:
  
   
  
   
Mining fleet1
  
   
  
 
31.2
 
Premium on mining fleet - 25%1
  
   
  
 
7.8
 
Demobilisation costs
  
   
  
 
1.3
 
 
  
   
  
 
 
 
 
  
 
27
 
  
 
40.3
 
 
  
   
  
 
 
 
 
1
 
 
This is based on the market value of the fleet.