2000 Annual Report - Heron Resources Limited

5.0 Continued
Financial Statements
NOTE 13. STATEMENT OF CASH FLOWS
a) Reconciliation of operating loss after income tax to
the net cash flows from operations
Economic Entity
Parent Entity
2000 1999 2000 1999
$ $ $ $
Operating loss after income tax (535,636) (5,680,473) (535,636) (5,680,473)
Add/(less)
Exploration and evaluation costs written off 29,354 5,140,990 29,354 5,140,990
Exploration and evaluation costs of mining tenements - 145,063 - 145,063
disposed of
Depreciation 50,858 48,761 50,858 48,761
(Increase)/decrease in accrued interest 4,289 2,057 4,289 2,057
Increase/(decrease) in creditors and accruals 7,443 (36,272) 7,443 (36,272)
(443,692) (379,874) (443,692) (379,874)
b) Non-Cash Financing and Investing Activities
Issue of 768,872 Shares to a nominee of Carmichael
First Capital Pty Ltd pursuant to a negotiated
Success Fee, crystallised with the signing of the
Strategic Alliance (Note 12). 176,841 - 176,841 -
Issue of Shares to purchase interests in mining
tenements. - 30,000 - 30,000
c) Reconciliation of Cash
Cash on hand and at bank 2,431,839 1,286,067 2,431,829 1,286,067
Commercial Bills 1,493,457 - 1,493,457 -
Closing cash balance 3,925,296 1,286,067 3,925,286 1,286,067
NOTE 14. REMUNERATION OF DIRECTORS
Income paid or payable, or otherwise made available
to Directors by the economic entity and related parties
in connection with the management of affairs of
the economic entity: 291,388 184,752 291,388 184,752
The numbers of the economic entity’s Directors
whose income (including superannuation contributions)
was within the specified bands are as follows:
2000 1999
Number Number
$0 - $9,999 1 -
$20,000 - $29,999 2 1
$40,000 - $49,999 1 1
$110,000 - $119,999 - 1
$210,000 - $219,999 1 -
page 54 Heron Resources NL Annual Report 2000