Axiom Mining 2015 Annual Report

GROUP FINANCIAL REPORT

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

53

6. Loss per share (continued)

Weighted average number of ordinary shares

2015 No. of shares

2014 No. of shares

3,289,552,750 2,335,067,445

Issued ordinary shares at 1 October (Note 16(a))

Effect of share consolidation* Effect of placement of shares

(3,070,251,090)

4,773,088 112,415,955

Effect of shares issued as payment for services Effect of issue of shares to employees Effect of issues under exercise of options

210,069

13,689,102

–

586,667

1,344,388

6,844,548

Effect of issues under share purchase plan and conversion of convertible notes

13,484,955 106,783,568

Effect of issue under agreement

– – –

43,680,887 5,035,264 9,493,151

Effect of commencement fee funding

Effect of Convertible note security

Effect of Rights issue

– 109,423,884

Weighted average number of ordinary shares at 30 September

239,114,160 2,743,020,471

AXIOM MINING LIMITED ANNUAL REPORT 2015

* A share consolidation of Axiom’s capital, on the basis of one share for every fteen shares was completed on 14 April 2015.

7. Cash and cash equivalents

2015 $000

2014 $000

1,198

2,170

Cash at bank and on hand Short-term bank deposits

34

13

Funds held in trusts

74

121

1,306

2,304

The effective interest rate on short-term bank deposits was 2.15% (2014: 3.54%). These deposits have an average maturity of 90 days. Reconciliation of cash Cash at the end of the financial year as shown in the statement of cash flows is reconciled to items in the statement of financial position as follows: Cash and cash equivalents

1,306

2,304

8. Other receivables

2015 $000

2014 $000

165 964

70

Prepayments

Other receivables

1,021 1,091

1,129

Terms and conditions Other receivables comprise sundry debtors. Sundry debtors are non-interest bearing and have repayment terms between 30 to 90 days.