Icon Energy Limited Annual Report 2016

ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES AS AT 30 JUNE 2016 Restated NOTES 30 June 2016 30 June 2015 $ $ CURRENT ASSETS Cash and cash equivalents 5 2,451,446 8,748,520 Trade and other receivables 6 79,411 111,360 Financial assets 7 14,500,000 5,000,000 TOTAL CURRENT ASSETS 17,030,857 13,859,880 NON-CURRENT ASSETS 8 5,037,981 5,129,843 Exploration and evaluation expenditure 9 32,708,365 42,267,462 Performance guarantee bonds 201,112 199,950 37,947,458 47,597,255 TOTAL ASSETS 54,978,315 61,457,135 CURRENT LIABILITIES Trade and other payables 10 113,508 776,665 Employee benefits 465,123 487,330 578,631 1,263,995 NON-CURRENT LIABILITIES Employee benefits 167,170 118,561 Provisions 11 1,521,175 1,499,699 1,688,344 1,618,260 TOTAL LIABILITIES 2,266,976 2,882,255 NET ASSETS 52,711,340 58,574,880 EQUITY Issued capital 12 101,984,750 102,346,082 Reserves 14, 25 299,188 605,775 Accumulated losses 25 (49,572,598) (44,376,977) TOTAL EQUITY 52,711,340 58,574,880 The accompanying notes form part of these financial statements. Property, plant and equipment TOTAL NON-CURRENT ASSETS TOTAL NON-CURRENT LIABILITIES TOTAL CURRENT LIABILITIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 June 2016 FINANCIAL REPORT 41 ICON ENERGY ANNUAL REPORT 2016