BRL
29/08/2014 14:37
FLLYR
REL: 1437 HRS Bathurst Resources Limited
FLLYR: BRL: Annual Financial Statements
Annual Financial Statements
The Board of Bathurst Resources Limited (NZX/ASX: BRL "Bathurst") presents
its Annual Financial Report for the year ended 30 June 2014.
Bathurst has recorded a net loss for the period of NZ$188.9 million after
tax due primarily to a non cash adjustment of NZ$449.9 million relating to
its investment in the Buller Coal Project.
The company's domestic operations recorded revenues of NZ$55.7 against
overall operating expenses of NZ$59.3 million resulting in an operating loss
before tax (excluding one off items of impairment and fair value gain of
deferred consideration) of NZ$3.6 million
Managing Director, Hamish Bohannan, said "We were disappointed that market
conditions meant temporarily deferring our export Escarpment project, however
the result reflects the benefits of building a robust domestic business that
can underpin the company until such time as Escarpment can ramp up to full
production. We were pleased to end the year with a cash positive quarter
and, whilst the current quarter is expected to show a small net cash outflow
due to the seasonal slowing in the dairy sector, it is expected to return to
a positive result thereafter. In the meantime we are focused on developing
Escarpment in preparation for an export market recovery."
End CA:00254605 For:BRL Type:FLLYR Time:2014-08-29 14:37:54
