101
CONSOLIDATED FINANCIAL STATEMENTS
DRIVING GROWTH FROM WITHIN
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013
(All amounts in US$‘000’s unless otherwise stated)
Reportable Segments
Corporate
Bateas
Cuzcatlan
Total
Year ended December 31, 2013
Sales to external customers
$
– $
72,306 $
65,088 $ 137,394
Silver-gold concentrates
–
–
65,088
65,088
Silver-lead concentrates
–
57,013
–
57,293
Zinc concentrates
–
15,293
–
15,013
Cost of sales*
–
53,672
41,947
95,619
Depletion and depreciation**
662
9,676
9,966
20,304
Selling, general and
administrative expenses*
12,820
3,513
3,450
19,783
Exploration and evaluation costs
376
–
42
418
Restructuring and severance costs
305
57
131
493
Write-off of mineral properties
–
–
570
570
Other material non-cash items
–
7
71
78
Impairment of mineral properties, plant
and equipment
–
30,000
–
30,000
Impairment of inventories
–
62
–
62
Interest income
101
402
88
591
Interest expense
374
311
247
932
(Loss) income before tax
(13,774)
(14,914)
18,718
(9,970)
Income taxes
231
(2,816)
11,715
9,130
(Loss) income for the year
(14,005)
(12,098)
7,003
(19,100)
Capital expenditures***
101
21,701
38,705
60,507
* cost of sales and selling, general and administrative expenses includes depletion and depreciation
** included in cost of sales or selling, general and administrative expenses
*** segmented capital expenditures are presented on a cash basis
Reportable Segments
Corporate
Bateas
Cuzcatlan
Total
As at December 31, 2014
Mineral properties, plant and equipment $
539
$
66,570
$ 166,740
$ 233,849
Total assets
20,804
110,499
219,007
350,310
Total liabilities
8,153
19,813
49,631
77,597
As at December 31, 2013
Mineral properties, plant and equipment
670
64,197
152,094
216,961
Total assets
25,191
104,398
172,626
302,215
Total liabilities
4,715
19,091
30,749
54,555
17. Segmented Information (Continued)
