Axiom Mining 2015 Annual Report

GROUP FINANCIAL REPORT

Notes to the financial statements for the year ended 30 September 2015

52

5. Tax expense

2015 $000

2014 $000

The prima facie tax on loss from ordinary activities before income tax is reconciled to income tax as follows: Prima facie tax payable on loss from ordinary activities before income tax at 30% (2014: 30%)

(3,738)

(4,764)

Add: Tax effect of: Non-allowable items – share options expensed during year – overseas exploration and other expenditure

271 705

211

1,741

– loss on disposal of subsidiary

40

– –

– impairment loss on mineral exploration expenditure

5

Less: – difference in overseas tax rate

5

82

– tax losses and deferred tax not recognised

2,712

2,730

Income tax attributable to entity

–

–

6. Loss per share

a. Basic loss per share The calculation of basic loss per share of 5.0 cents per share (2014: 0.57 of a cent per share) is based on the loss attributable to owners of the Company of $11,931,000 (2014: $15,692,000) and the weighted average number of 239,114,160 ordinary shares (2014: 2,743,020,471 shares) in issue during the year, calculated as follows: b. Diluted loss per share The diluted loss per share is the same as the basic loss per share as the exercise of the share options and the conversion of convertible notes would result in a decrease in loss per share.

AXIOM MINING LIMITED ANNUAL REPORT 2015

Consolidated Group

2015 $000

2014 $000

i. Reconciliation of earnings to profit or loss: Loss for the year Loss attributable to non-controlling equity interest

(12,460)

(15,880)

(529)

(188)

Loss used to calculate basic EPS

(11,931) (11,931)

(15,692) (15,692)

Loss used in the calculation of dilutive EPS