NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2000
48
Note Consolidated Company
2000 1999 2000 1999
$$ $$
Fully Paid Ordinary Share Capital
Fully paid ordinary shares carry one vote 
per share and carry the right to dividends
Share Options
On 21 June 1999, a total of 6,500,000 
listed options were issued, being 1 option
for every 2 shares allotted to the investor 
on Initial Public Offering. These options 
are exercisable by 30 November 2000 at 
an exercise price of 75 cents each.
Refer to Note 21 for details of the 
Employee Share Option Incentive Plan.
18. RESER VES
Asset revaluation reserve 3,763,956 3,763,956 ––
The movement during the Financial 
Year is reconciled as follows:
Balance at the beginning of 
the Financial Year 3,763,956 –––
Revaluation of King Bay 
Supply Base Lease – 3,763,956 ––
Balance at the end of the 
Financial Year 3,763,956 3,763,956 ––
19. STATEMENT OF CASH FLOWS
(a) Reconciliation of the operating (loss) 
profit after income tax to the net 
cash flows from operations
Operating (loss) profit after income tax (207,957) 2,454,919 190,559 1,106,907
Depreciation of non current assets 1,078,314 1,179,156 ––
Amortisation of non current assets – 95,105 ––
Provision for employee entitlements (247,618) 50,562 ––
(Profit)/Loss on sale of property, 
plant and equipment (20,280) 17,405 ––
Write off of shares - other corporations – 2,647 ––
Write back of loan (93,581) (120,419) ––
Dividend received from 
controlled entity ––– (1,100,000)