95
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)
During the year ended December 31, 2014, the Company granted 424,425 (2013: 582,846) RSU with a market value
of CAD$1,825 (2013: CAD$1,970), at the date of grant, to an executive director and officer (103,721), officers (204,192),
and employees (116,512), payable 20% after one year, 30% after two years, and the remaining 50% after three years
from the date of grant.
During the year ended December 31, 2014, the Company cancelled 52,528 (2013: 39,201) RSUs, and paid $1,036
(2013: $nil) on 248,591 (2013: nil) RSUs to an executive director and officer, officers, employees, former officers, and
a former employee.
As at December 31, 2014, there were 822,625 (2013: 699,319) RSU outstanding with a fair value of $2,247 (2013:
$911). Refer to Note 8 and Note 10.
e) Earnings (Loss) per Share
i.
Basic
Basic earnings per share is calculated by dividing the net income for the period by the weighted average number of
shares outstanding during the period.
The following table sets forth the computation of basic earnings per share:
Years ended December 31,
2014
2013
Income (loss) available to equity owners
$ 15,602
$ (19,100)
Weighted average number of shares (in '000's)
126,787
125,553
Earnings (loss) per share – basic
$ 0.12
$
(0.15)
ii.
Diluted
Diluted earnings per share is calculated by adjusting the weighted average number of shares outstanding to assume
conversion of all potentially dilutive shares. The following table sets forth the computation of diluted earnings per share:
Years ended December 31,
2014
2013
Income (loss) available to equity owners
$ 15,602
$ (19,100)
Weighted average number of shares ('000's)
126,787
125,553
Incremental shares from share options
1,356
996
Weighted average diluted shares outstanding ('000's)
128,143
126,549
Earnings (loss) per share – diluted
$ 0.12
$
(0.15)
For the year ended December 31, 2014, excluded from the calculation were 49,084 (2013: 4,180,104) anti-dilutive
options with exercise price of CAD$6.67 (2013: ranging from CAD$3.79 to CAD$6.67).
14. Supplemental Cash Flow Information
Years ended December 31,
Note
2014
2013
Non-cash Investing and Financing Activities:
Issuance of shares on purchase
of mineral properties, plant and equipment
7 a)
$
–
$
50
13. Share Capital (Continued)
d) Restricted Share Units ("RSU") Cost (Continued)
