NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
98
THE STRAITS TRADING COMPANY LIMITED
17.
GOODWILL/OTHER INTANGIBLE ASSETS (CONT’D)
(b)
(ii)
Deferred Mine Exploration and Evaluation Expenditure and Mine Properties
Deferred mine
exploration
and evaluation
expenditure
Mine
properties
Total
$’000
$’000
$’000
Group
At 1 January 2015
1,500
2,835
4,335
Additions
672
6
678
Written off to profit or loss
(2)
–
(2)
Amortisation to profit or loss
–
(362)
(362)
Exchange adjustment
(235)
(341)
(576)
At 31 December 2015
1,935
2,138
4,073
At 1 January 2014
18
2,759
2,777
Additions
1,492
449
1,941
Acquisition of a subsidiary (note 18)
14
–
14
Amortisation to profit or loss
–
(324)
(324)
Exchange adjustment
(24)
(49)
(73)
At 31 December 2014
1,500
2,835
4,335
Note 17(b)(ii) represents deferred mine exploration and evaluation expenditures and mine properties incurred
on several areas of interest. The costs are only carried forward to the extent that they are expected to be
recouped through the successful development of the areas or where activities in the areas have not yet
reached a stage that permits a reasonable assessment of the existence of the economically recoverable ore
reserves and resources.
The remaining amortisation periods are as follows:
Group
Number of years
2015
2014
Mining rights
7
8
Corporate club memberships
5 to 71
6 to 72
Mine properties
7
8
