Icon Energy Limited Annual Report 2017

ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES AS AT 30 JUNE 2017 NOTES 30 June 2017 30 June 2016 $ $ CURRENT ASSETS Cash and cash equivalents 4 9,659,397 2,451,446 Trade and other receivables 5 35,703 79,411 Financial assets 6 - 14,500,000 Inventories 4,890,147 - TOTAL CURRENT ASSETS 14,585,247 17,030,857 NON-CURRENT ASSETS 7 4,935,451 5,037,981 Exploration and evaluation expenditure 8 33,056,664 32,708,365 Performance guarantee bonds 774,041 201,112 38,766,156 37,947,458 TOTAL ASSETS 53,351,403 54,978,315 CURRENT LIABILITIES Trade and other payables 9 314,074 113,508 Employee benefits 553,811 465,123 867,885 578,631 NON-CURRENT LIABILITIES Employee benefits 204,062 167,170 Provisions 10 5,238,410 1,521,175 5,442,472 1,688,344 TOTAL LIABILITIES 6,310,357 2,266,976 NET ASSETS 47,041,046 52,711,340 EQUITY Issued capital 11 101,984,750 101,984,750 Reserves 13 427 299,188 Accumulated losses (54,944,131) (49,572,598) TOTAL EQUITY 47,041,046 52,711,340 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 2017 FINANCIAL REPORT 41 ICON ENERGY ANNUAL REPORT 2017