103
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)
18. Cost of Sales
The cost of sales for the years ended December 31, 2014 and 2013 are as follows:
Years ended December 31,
2014
2013
Caylloma
San Jose
Total
Caylloma
San Jose
Total
Direct mining costs
1
$ 42,031
$ 43,418
$ 85,431
$ 42,331
$ 32,345
$ 74,676
Workers’ participation
735
3,556
4,291
998
81
1,079
Depletion and depreciation
7,482
15,161
22,643
9,594
9,521
19,115
Royalty expenses
901
487
1,388
749
–
749
$ 51,131
$ 62,622
$ 113,753
$ 53,672
$ 41,947
$ 95,619
1
Direct mining costs includes salaries and other short term benefits, contractor charges, energy, consumables and production related
costs.
19. Selling, General and Administrative Expenses
The selling, general and administrative expenses for the years ended December 31, 2014 and 2013 are as follows:
Years ended December 31,
2014
2013
Salaries and benefits
$ 18,599
$ 14,275
Corporate administration
(209)
112
Audit, legal and professional fees
5,269
3,795
Filing and listing fees
223
40
Director's fees
546
578
Depreciation
797
983
$ 25,225
$ 19,783
20. Exploration and Evaluation Costs
The exploration and evaluation costs for the years ended December 31, 2014 and 2013 are as follows:
Years ended December 31,
2014
2013
Share-based payments
$
–
$
22
Salaries, wages, and benefits
–
312
Direct costs
–
84
$
–
$
418
