Notes to the Financial Statements
78
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4. Segment information continued
Revenue % of External Revenue
2013 
$’000
2012 
$’000
2013 
%
2012 
%
Customer A 226,759 217,307 69 61
Customer B 102,523 140,065 31 39
5. Revenue and expenses
2013 
$’000
2012 
$’000
a) Sales revenue
Gold sales 302,996 329,579
Silver sales 26,286 27,793
Total sales revenue 329,282 357,372
b) Cost of sales
Direct costs of mining and processing 179,817 159,500
Royalties 25,838 27,19 6
Inventory movements (8,341) (8,132)
Deferred mining costs (2,250) (7,059)
Depreciation (operations) 85,388 67,320
Total costs of sales 280,452 238,825
c) Corporate and administration expenses
Administration 15,515 12,737
Technical support and business development 2,096 2,867
Statutory and professional fees 3,334 3,467
Depreciation 207 233
Total corporate and administration expenses 21,152 19,304
d) Other income and expenses
Sale of mineral rights – 1,150
Net (loss) on the sale of exploration assets (16,709) –
Net (loss) / gain on the sale of fixed assets (70) 35
(Loss) / gain on the change in fair value of undesignated gold contracts held for trading  1,414 (425)
(Loss) on the change in fair value of available-for-sale financial assets (855) (260)
Gain on the close-out of hedge contract – 819
Other revenue 730 246
Total other income and (expense) (15,490) 1,565
e) Impairment
Challenger Gold Project (refer Note 5j) 311,850 –
Exploration assets 20,421 –
Investment in associate – Caravel Minerals 537 –
Total impairment 332,808 –