Page 75 - Bauxite Resources Annual Report 2014

Annual Report 2014 Bauxite Resources | 73
NOTES TO THE FINANCIAL STATEMENTS
Notes to the Financial Statements cont.
73 Bauxite Resources Annual Report 2014
iii. Segment liabilities
Exploration Operations BFS & other
studies
Administration &
other
Total
$ $ $ $ $
30 June 2014
Segment liabilities 142,060 400 189,213 331,673
Total group liabilities 331,673
30 June 2013
Segment liabilities 212,319 1,663 136,185 350,167
Total group liabilities 350,167
iv. Major customers
The Group has one major party that it received monies from in relation to recoupment’s for exploration costs (seen within the
exploration segment above). 100% (2013: 100%) of this item was received from one external entity.
19. REMUNERATION OF AUDITORS
Consolidated Group
2014 2013
$ $
(a) Audit services
Moore Stephens - audit and review of financial reports 40,183 34,425
Total remuneration for audit services 40,183 34,425
(b) Non-audit services
Moore Stephens – Taxation services 25,998 25,545
Total remuneration for other services 25,998 25,545
20. CONTINGENCIES
Proposed Shareholder Claim
On 10 September 2014, the Company executed a conditional agreement to settle that claim, prior to any proceedings having
been commenced. The claim was proposed on behalf of individuals and entities (described in the claim as group members)
who acquired shares in the Company in the October 2009 placement of 60 million shares at $0.95 each. It included allegations
that the Company engaged in misleading and deceptive conduct in marketing the 2009 placement. A separate claim was
foreshadowed in respect of certain of the group members’ on-market purchases.
Subject to certain conditions being met by the group members including a vote by them to accept the settlement, the Company
will pay $5.25 million, without any admission of liability. The remaining terms of the settlement are confidential. If the settlement
proceeds, both of the claims will be resolved.
The Company is not aware of any other contingent liabilities as at 30 June 2014 or at the date of this report.