Notes to the Financial Statements
93
Notes to the Financial Statements
continued
u
(b) (Accumulated losses) / Retained profits
2013 
$’000
2012 
$’000
Retained profits at the beginning of the year 196,602 143,468
Net (loss) / profit attributable to members of Kingsgate (323,726) 75,159
Dividends paid (22,739) (22,025)
(Accumulated losses) / Retained profits at the end of year (149,863)  196,602
20. Commitments for expenditure
Capital commitments
Within 1 year 1,475 –
Total capital commitments 1,475 –
Operating leases
Within 1 year 1,064 2,909
Later than 1 year but not later than 5 years 553 1,199
Total operating leases 1,617 4,108
Exploration commitments
Within 1 year 2,190 2,082
Total exploration commitments 2,190 2,082
Remuneration commitments
Within 1 year – 574
Later than 1 year but not later than 5 years – 690
Total remuneration commitments – 1,264
Capital commitments
Commitments for the plant, equipment and mine properties contracted as at the reporting date but not recognised as liabilities.
Operating leases
Commitments for minimum lease payments are in relation to non-cancellable operating leases. Operating leases for the current year primarily relates to 
Challenger Mine’s power generation operating leases.
Exploration commitments
In order to maintain current rights of tenure to exploration tenements, the Group has exploration expenditure requirements up until expiry of the leases. 
These obligations, which are subject to renegotiation upon expiry of the leases, are not provided for in the financial statements.