For the year ended 30 June 2006
c) Acquisition of Entities
On 28 August 2005 Clement Resources Limited was incorporated for the purposes of applying for five prospective uranium tenements.
The purchase consideration was 75 shares at an issue price of 1c per share.
On 16 December 2005 Resourceful Events Pty Ltd was incorporated for managing a range of conferences including the highly regarded Excellence in Exploration series. The purchase consideration was 80 shares at $1.00 per share.
d) Non Cash Financing and Investing Activities
(i) During the year the company issued 50,000,000 fully paid ordinary shares pursuant to the conversion of a loan note for the amount of $1,000,000.
(ii) During the year the economic entity acquired plant & equipment with an aggregate value of $28,000 (2005: NIL) by means of finance leases. These acquisitions are not reflected in the cash flow statement.
c) Acquisition of Entities
On 28 August 2005 Clement Resources Limited was incorporated for the purposes of applying for five prospective uranium tenements.
The purchase consideration was 75 shares at an issue price of 1c per share.
On 16 December 2005 Resourceful Events Pty Ltd was incorporated for managing a range of conferences including the highly regarded Excellence in Exploration series. The purchase consideration was 80 shares at $1.00 per share.
d) Non Cash Financing and Investing Activities
(i) During the year the company issued 50,000,000 fully paid ordinary shares pursuant to the conversion of a loan note for the amount of $1,000,000.
(ii) During the year the economic entity acquired plant & equipment with an aggregate value of $28,000 (2005: NIL) by means of finance leases. These acquisitions are not reflected in the cash flow statement.