22	Eersteling

22.1	Sale of subsidiary

May 31, 2018

the Group entered into an amended share sale agreement with SH Mineral Investments Proprietary Limited (“SH Minerals”) to sell the shares and claims of Eersteling Gold Mining Company Limited (“Eersteling”), a South African subsidiary previously consolidated as part of the Group, that has been on care and maintenance since

1997.

The amended share sale agreement allowed for a purchase price of

million which would be settled by

three

payments of

million payable on the completion date,

and

months after the completion date. On

January 31, 2019

all suspensive conditions for the sale were met and the Group transferred the registered and beneficial ownership of Eersteling to SH Minerals. During

2019,

million was received and

$901

was received post year end as payment towards the purchase price.

Details of the disposal are as follows:

Carrying amounts of net assets over which control was lost:	2019
Non-current assets
Property, plant and equipment		227

Current assets
Trade and other receivables		84
Total assets		311

Non-current liabilities
Rehabilitation provision		650

Current liabilities
Trade and other payables		8
Total liabilities		658

Consideration receivable:
Cash received		1,000
Deferred consideration (at January 31, 2019)		1,953
Total consideration		2,953

Profit on sale of subsidiary:
Net liabilities derecognised		347
Cumulative exchange differences in respect of the net liabilities of the subsidiary reclassified from equity on loss of control of subsidiary		2,109
Fair value of consideration receivable (at January 31, 2019)		2,953
Profit on sale of subsidiary		5,409

At the date of approval of these financial statements

$1,000

remained outstanding from SH Minerals and is expected to be received in

July

2020

and a further

$99

remains outstanding from SH Minerals from the amount payable in

January 2020

and is expected to be received shortly.

22.2	Disposal group held for sale

As at

December 31, 2018,

management concluded that the Eersteling disposal group will be recovered principally through a sale transaction rather than through continuing use and that the sale of Eersteling had become highly probable as

one

of the

two

suspensive conditions in the new share sale agreement had been met.

As at

December 31, 2018

the disposal group held for sale was stated at its carrying amount.

	2019		2018
Non-current assets
Property, plant, and equipment		-		214

Current assets
Trade and other receivables		-		80
Cash and cash equivalents		-		2
Assets held for sale		-		296

Non-current liabilities
Rehabilitation provision		-		602

Current liabilities
Trade and other payables		-		7
Liabilities associated with assets held for sale		-		609