70
FORTUNA SILVER MINES INC. | 2014 ANNUAL REPORT
Consolidated Statements of Financial Position
AS AT DECEMBER 31,
(Expressed in thousands of US Dollars)
Notes
2014
2013
ASSETS
CURRENT ASSETS
Cash and cash equivalents
3
$ 42,867
$ 31,704
Short term investments
4
34,391
17,411
Accounts receivable and other assets
5
20,585
17,040
Prepaid expenses
1,592
1,578
Inventories
6
14,937
15,488
Total current assets
114,372
83,221
NON-CURRENT ASSETS
Deposits on long term assets
5
1,963
1,882
Deferred income tax assets
12
126
151
Mineral properties, plant and equipment
7
233,849
216,961
Total assets
$ 350,310
$ 302,215
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade and other payables
8
$ 21,458
$ 15,897
Due to related parties
9 c)
9
20
Provisions
11
809
622
Income tax payable
12
9,745
50
Current portion of other liabilities
10
–
227
Total current liabilities
32,021
16,816
NON-CURRENT LIABILITIES
Other liabilities
10
4,661
2,343
Provisions
11
11,889
10,112
Deferred income tax liabilities
12
29,026
25,284
Total liabilities
77,597
54,555
EQUITY
Share capital
201,057
189,092
Share option and warrant reserve
13,800
15,200
Retained earnings
55,846
40,244
Accumulated other comprehensive income
2,010
3,124
Total equity
272,713
247,660
Total liabilities and equity
$ 350,310
$ 302,215
Contingencies and capital commitments
23
APPROVED BY THE DIRECTORS:
“Jorge Ganoza Durant” ,
Director
“Robert R. Gilmore” ,
Director
Jorge Ganoza Durant
Robert R. Gilmore
The accompanying notes are an integral part of these consolidated financial statements.
