Notes to the Financial Statements
87
Notes to the Financial Statements
continued
u
13. Exploration, evaluation and development
Exploration & 
evaluation 
$’000
Feasibility 
expenditure 
$’000
Mine  
properties 
$’000
Total 
$’000
At 30 June 2011
Cost  57,510 29,388 392,107 479,005
Accumulated depreciation and amortisation – – (71,912) (71,912)
Net book amount  57,510 29,388 320,195 407,093
Year ended 30 June 2012
Opening net book amount  57,510 29,388 320,195 4 07,0 93
Additions  10,068  97,720 60,213 168,001
Reclassified  (8,350) (4,345) 34,223 21,528
Disposals  (2,009)  (952) (690) (3,651)
Depreciation and amortisation expense – – (50,353) (50,353)
Foreign currency exchange differences  293  (254) 2,375 2,414
Closing net book amount 57,512 121,557 365,963 545,032
Year ended 30 June 2013
Opening net book amount 57,512 121,557 365,963 545,032
Additions 7,93 8 19,234 98,276 125,448
Reclassified – – 2,039 2,039
Disposals (20,084) (1,023) (6,949) (28,056)
Impairment (27,526) – (239,848) (267,374)
Depreciation and amortisation expense – – (67,37 7 ) (67,37 7 )
Foreign currency exchange differences 1,242 3,173 22,419 26,834
Closing net book amount 19,082 142,941 174,523 336,546
At 30 June 2013
Cost 19,082 142,941 615,098 777 ,121
Accumulated depreciation and amortisation – – (440,575) (440,575)
Net book amount 19,082 142,941 174,523 336,546
Capitalised borrowing costs
Included in mine buildings, plant and equipment is an amount of $851,000 and in exploration is an amount of $4,112,000 that represents borrowing costs capitalised during 
the year ($6,939,000 during the year ended 30 June 2012). The capitalisation rate used to determine the amount of borrowing costs to be capitalised is the weighted average 
interest rate applicable to the entity’s outstanding borrowings during the year, in this case 10.7% (2012: 9.7%).