GALAXY RESOURCES LIMITED
ANNUAL FINANCIAL REPORT DECEMBER 2011
Consolidated Balance Sheet
Note
December 31, 2011 $
December 31, 2010 $
Property, plant and equipment Lease prepayment
13 14
185,277,427 2,782,067
145,397,992 2,836,259
Exploration and evaluation assets
15
7,424,728
2,242,852
Available-for-sale financial assets
16
205,000
600,000
Other receivables and prepayments Restricted cash deposit
17 19
3,768,202 -
952,654 42,834,671
199,457,424
194,864,428
NON-CURRENT ASSETS
TOTAL NON-CURRENT ASSETS CURRENT ASSETS Other receivables and prepayments
17
10,728,612
5,936,284
Inventories
24
13,518,420
2,001,922
Restricted cash deposit Cash and cash equivalents
19 18
17,996,933
5,220,082 27,509,567
42,243,965
40,667,855
241,701,389
235,532,283
TOTAL CURRENT ASSETS TOTAL ASSETS NON-CURRENT LIABILITIES Provisions
21
1,232,000
913,000
Interest bearing liabilities
22
95,852,660
123,078,868
97,084,660
123,991,868
TOTAL NON-CURRENT LIABILITIES CURRENT LIABILITIES Trade and other payables
20
26,980,506
12,123,127
Provisions
21
406,183
346,145
Interest bearing liabilities TOTAL CURRENT LIABILITIES
22
3,714,935 31,101,624
7,636,968 20,106,240
TOTAL LIABILITIES
128,186,284
144,098,108
NET ASSETS
113,515,105
91,434,175
271,457,219 20,713,250
128,419,427 10,440,833
(178,655,364)
(47,426,085)
113,515,105
91,434,175
CAPITAL AND RESERVES Share capital Reserves
25 25
Accumulated Losses TOTAL EQUITY The accompanying notes form part of these consolidated financial statements.
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