CASH FLOW HIGHLIGHTS
| Cash Flow Highlights as of May 31 |
 Download (Excel) |
| |
|
|
|
|
| (thousand of US$ dollars) |
2008 |
2007 |
2006 |
2005 |
|
| |
|
|
|
|
| Operating activities |
|
|
|
|
| Net income for the period |
7,798 |
14,554 |
10,583 |
1,510 |
| Adjustments for: |
|
|
|
|
| Amortization, depletion and accretion |
15,724 |
8,361 |
8,742 |
4,015 |
| Exploration written off |
11,103 |
2,129 |
- |
- |
| Future Income taxes |
(2,988) |
(532) |
(68) |
(1,787) |
| Deferred Stripping |
- |
- |
(3,870) |
(568) |
| Long term tax debt |
- |
928 |
1,486 |
- |
| Fair value adjustment of derivatives |
- |
(2,317) |
2,137 |
180 |
| Stock based compensation |
792 |
975 |
1,453 |
755 |
| Other |
636 |
79 |
52 |
188 |
|
|
| |
33,065 |
24,177 |
20,515 |
4,293 |
| Net change in non-cash working capital balances |
(6,579) |
1,181 |
(2,129) |
(2,169) |
|
|
| |
26,486 |
25,358 |
18,386 |
2,124 |
|
|
| |
|
|
|
|
| Financing activities |
|
|
|
|
| Proceeds from the issue of share capital |
592 |
1,515 |
1,473 |
8,507 |
| Share repurchase |
(406) |
- |
- |
- |
| Payments of borrowings net of drawdowns |
(188) |
(57) |
457 |
(260) |
| Dividends |
(2,742) |
(2,343) |
- |
- |
|
|
| |
(2,744) |
(885) |
1,930 |
8,247 |
|
|
| |
|
|
|
|
| Investing activities |
|
|
|
|
| Purchase of property, plant and equipment and development costs net of capital assets sale |
(9,159) |
(12,350) |
(11,408) |
(7,217) |
| Exploration expenditure |
(9,960) |
(7,076) |
(5,478) |
(1,974) |
| Payments on subsidiaries acquired, net of cash acquired |
|
- |
- |
(650) |
|
|
| |
(19,119) |
(19,426) |
(16,886) |
(9,841) |
|
|
| |
|
|
|
|
| Increase in cash |
4,623 |
5,047 |
3,430 |
530 |
|
| Cash at beginning of period |
13,978 |
8,931 |
5,501 |
4,971 |
|
| Cash at end of period |
18,601 |
13,978 |
8,931 |
5,501 |
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