AXIOM MINING LIMITED
ANNUAL REPORT 2015
Notes to the
for the year ended 30 September 2015
GROUP FINANCIAL REPORT
17. Note to statement of cash flows
Reconciliation of loss from operations to net cash outflow from operating activities:
Loss for the period
Depreciation and amortisation
Expense recognised in respect of shares issued in exchange for consulting services
Interest on lease liability
Impairment loss on mineral exploration expenditure
Share-based payments expense
Fair value (gains)/losses
Write-off of subsidiary
Net foreign exchange loss
Changes in operating assets and liabilities
(Increase) in other receivables
Increase in other payables
Increase in provisions
Net cash flows used from operations
a. Expenditure commitments
Estimated capital expenditure required to maintain tenements by the balance sheet date, but not provided for, are payable
Within one year
After one year but within five years
These commitments may be achieved by seeking exemptions, relinquishment or by joint venture arrangements.
During the year the company has spent less than the annual expenditure commitment under the amalgamated expenditure
arrangement. However, the company expects to meet any shortfall in this arrangement in future periods.
The company is in process of renewing its tenement licenses in the West Guadacanal area, and the Kolosori area is
subject to litigation matters.
Recoverability of the carrying amount of exploration assets is dependent on the successful exploration and commercial
exploitation of the tenements.