Axiom Mining 2015 Annual Report

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Group financial report for the year ended 30 September 2015

57 11. Mineral exploration expenditure 57 12. Trade and other payables 58 13. Borrowings 58 14. Capitalised lease liabilities 59 15. Provisions 59 16. Capital and reserves 63 17. Note to statement of cash flows 63 18. Commitments 64 19. Auditor’s remuneration 64 20. Related parties

25 Directors’ report 37 Auditor’s independence declaration 38 Consolidated statement of profit or loss 39 Consolidated statement of comprehensive income 40 Consolidated statement of financial position 41 Consolidated statements of changes in equity 42 Consolidated statement of cash flows 43 Notes to the financial statements 43 1. Company information 43 2. Significant accounting policies 51 3. Segment information 51 4. Loss for the year 52 5. Tax expense 52 6. Loss per share 53 7. Cash and cash equivalents 53 8. Other receivables

AXIOM MINING LIMITED ANNUAL REPORT 2015

65 21. Financial risk management and fair values 67 22. Contingent assets and contingent liabilities 68 23. Subsequent events 68 24. Significant accounting estimates and judgements 69 25. Parent entity financial information 70 26. Fair value 71 Directors’ declaration 72 Independent auditor's report

54 9. Investments in subsidiaries 56 10. Property, plant and equipment

All amounts in this financial report are in Australian dollars unless otherwise stated.