Annual Report 2014
 Bauxite Resources
| 67
NOTES TO THE FINANCIAL STATEMENTS
Notes to the Financial Statements cont.
67 Bauxite Resources
Annual Report 2014
2014
2013
$
$
(c)
Movements in options on issue
Beginning of the financial year
2,000,000
6,000,000
Exercised, cancelled or expired during the year:
-
-
Exercisable at 40 cents, on or before 22 February 2016
-
(1,000,000)
Exercisable at 40 cents, on or before 31 January 2016
-
(3,000,000)
End of the financial year
2,000,000
2,000,000
(d)
Ordinary shares
Ordinary shares entitle the holder to participate in dividends and the proceeds on winding up of the Company in proportion to
the number of and amounts paid on the shares held.
On a show of hands every holder of ordinary shares present at a meeting in person or by proxy, is entitled to one vote, and upon
a poll each share is entitled to one vote.
(e)
Capital risk management
The Group’s and the parent entity’s objectives when managing capital are to safeguard their ability to continue as a going
concern, so that they may continue to provide returns for shareholders and benefits for other stakeholders.
Due to the nature of the Group’s activities, being mineral exploration, the Group does not have ready access to credit facilities,
with the primary source of funding being equity raisings. Therefore, the focus of the Group’s capital risk management is the
current working capital position against the requirements of the Group to meet exploration programmes and corporate
overheads. The Group’s strategy is to ensure appropriate liquidity is maintained to meet anticipated operating requirements,
with a view to initiating appropriate capital raisings as required. The working capital position of the Group at 30 June 2014 and
30 June 2013 are as follows:
Consolidated Group
2014
2013
$
$
Cash and cash equivalents
40,935,260
43,486,003
Trade and other receivables
984,753
2,266,886
Trade and other payables
(259,421)
(269,093)
Working capital position
41,660,592
45,483,796
14.
RESERVES AND ACCUMULATED LOSSES
Consolidated Group
2014
2013
$
$
(a)
Reserves
Share-based payments reserve
Balance at beginning of year
469,219
983,691
Employees and contractors performance rights issued
111,734
-
Employees and contractors share options lapsed/cancelled
-
(514,472)
Balance at end of year
580,953
469,219
(b)
Retained earnings / (accumulated losses)
Balance at beginning of year
(36,611,782)
(31,885,078)
Net profit/(loss) for the year
(4,554,592)
(5,241,176)
Employees and contractors share options lapsed
-
514,472
Balance at end of year
(41,166,374)
(36,611,782)
1...,59,60,61,62,63,64,65,66,67,68 70,71,72,73,74,75,76,77,78,79,...88