PENINSULA ENERGY LIMITED — Annual Report 2016

Jul 27, 2016

==> picture [421 x 87] intentionally omitted <==

28 July 2016

Companies Announcement Office Via Electronic Lodgement

CHANGE IN REPORTING CURRENCY

Peninsula Energy Limited ( Peninsula or Company ) announces that it has changed its reporting currency from Australian dollars to United States (US) dollars, with an effective reporting date of 30 June 2016.

All of the Company’s revenue is received in US dollars, the majority of its expenditure is paid in US dollars and the majority of global uranium mining companies report in US dollars. This change in reporting currency will enhance comparability and relevance of the Company’s financial information.

The quarterly report for the quarter ending 30 June 2016 (Appendix 5B) and the annual financial report for the year ending 30 June 2016 will be presented in US dollars.

The change in reporting currency represents a voluntary change in accounting policy which is accounted for retrospectively. The historical financial information set out on the following pages has been translated into US dollars using the procedures outlined below:

1. The Income Statement and Statement of Cash Flows have been translated to US dollars using average exchange rates for the relevant periods.

2. Assets and Liabilities in the Statement of Financial Position have been translated to US dollars using the exchange rate as at the relevant balance dates. The exchange rates were as follows:

were as follows:
As at:
30 June 2015	0.7655
30 June 2014	0.9419
30 June 2013	0.9133

1. The Equity section of the Statement of Financial Position has been converted to US dollars using historical average exchange rates.

The financial information is unaudited.

Yours sincerely

Jonathan Whyte Company Secretary

For further information, please contact our office on +61 (0)89380 9920 during normal business hours.

Level 2, 100 Railway Road, Subiaco WA 6008 PO Box 8129, Subiaco East WA 6008 Phone: +61 (0)8 9380 9920 Fax: +61 (0)8 9381 5064

Peninsula Energy Limited - ABN: 67 062 409 303

Peninsula Energy Limited

-2-

Consolidated Income Statement Three Year Summary Presented in US Dollars

Continuing operations Revenue Revenue Employee benefits expense General and administrative expenses Professional fees Finance costs Share-based payments expense Interest expense Depreciation expense Sale of fixed assets gain/(loss) Foreign exchange gain/(loss) Capitalised costs written off Impairment expense Loss before tax from continuing operations Income tax expense Loss for the year from continuing operations Other comprehensive income/(loss): Other comprehensive income may be reclassified to profit or loss in subsequent periods: Exchange differences on translation of foreign operations Total comprehensive income/(loss) for the year Loss from continuing operations attributable to: Equity holders of the Parent Non-controlling interests Total comprehensive income attributable to: Equity holders of the Parent Non-controlling interests	FY2015 FY2014 FY2013
	US$’000s US$’000s US$’000s
	193 168 396
	193 168 396 (1,929) (2,743) (4,187) (1,238) (1,337) (2,359) (764) (482) (1,568) (647) - - (1,229) (1,548) (2,472) - (17) (2,616) (202) (196) (322) (10) 301 - 1,435 (44) 4 (39) - - - (65) (2,141)
	(4,430) (5,963) (15,265) - - -
	(4,430) (5,963) (15,265)
	(5,698) (161) 7,112
	(10,128) (6,124) (8,153)
	(4,430) (5,963) (15,265) - - -
	(4,430) (5,963) (15,265)
	(9,916) (6,124) (8,153) (212) - -
	(10,128) (6,124) (8,153)

Level 2, 100 Railway Road, Subiaco WA 6008, Phone: +61 (0)8 9380 9920

PO Box 8129, Subiaco East WA 6008 Fax: +61 (0)8 9381 5064

Peninsula Energy Limited - ABN: 67 062 409 303

Peninsula Energy Limited

-3-

Consolidated Statement of Financial Position Three Year Summary Presented in US Dollars

CURRENT ASSETS Cash and cash equivalents Restricted cash and cash equivalents Trade and other receivables TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant and equipment Mineral exploration and evaluation Mineral development Other financial assets Trade and other receivables TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other payables Borrowings Provisions TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Borrowings Provisions TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Issued capital Reserves Accumulated losses Equity attributable to equity holders of the Parent Non-controlling interest TOTAL EQUITY	30 June 2015 30 June 2014 30 June 2013
	US$’000s US$’000s US$’000s
	24,990 6,619 4,735 - 9,535 21,969 2,872 3,162 6,186
	27,862 19,316 32,890
	13,143 10,778 4,679 9,040 9,250 8,223 91,758 74,900 60,558 3 1 3 - - 866
	113,944 94,929 74,329
	141,806 114,245 107,219
	2,835 790 1,182 204 22,035 22,796 50 33 17
	3,089 22,858 23,995
	899 978 618 753 250 -
	1,652 1,228 618
	4,741 24,086 24,613
	137,065 90,159 82,606
	181,013 125,212 114,621 7,071 11,460 10,090 (52,362) (48,068) (42,105)
	135,722 88,604 82,606 1,343 1,555 -
	137,065 90,159 82,606

Level 2, 100 Railway Road, Subiaco WA 6008, PO Box 8129, Subiaco East WA 6008 Phone: +61 (0)8 9380 9920 Fax: +61 (0)8 9381 5064 Peninsula Energy Limited - ABN: 67 062 409 303

Peninsula Energy Limited

-4-

Consolidated Statement of Cash Flows Three Year Summary Presented in US Dollars

CASH FLOWS FROM OPERATING ACTIVITIES Payments to suppliers and employees Facility fees paid Interest paid Interest received Net cash (used in) operating activities CASH FLOWS FROM INVESTING ACTIVITIES Payments for mineral exploration and evaluation Payments for mineral development Payments for interest on capitalised borrowings costs Proceeds from/(payments for) mineral exploration performance bonds and rental bonds Proceeds from sale of property, plant & equipment Purchase of property, plant & equipment Cash acquired on acquisition of ARSA Projects Net cash (used in) investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issue of shares Equity raising transaction costs Proceeds from application to exercise options Repayment of borrowings Return of unused restricted cash held in escrow Net cash provided by financing activities Net increase/(decrease) in cash held Cash and cash equivalents at the beginning of financial year Effects of exchange rate fluctuations on cash held Cash and cash equivalents at the end of financial year	FY2015 FY2014 FY2013
	US$’000s US$’000s US$’000s
	(3,877) (4,567) (8,980) (322) - - - (17) (1,665) 153 102 396
	(4,046) (4,482) (10,249)
	(1,167) (1,337) (1,728) (10,886) (10,878) (12,331) (1,062) (2,372) - (191) 879 (1,830) - 2,410 - (4,957) (1,980) (479) - 6 -
	(18,263) (13,272) (16,368)
	57,463 6,404 14,960 (1,838) (350) (862) - - 1,552 (15,865) - 24,629 (7,158) - -
	32,602 6,054 40,279
	10,293 (11,700) 13,662 16,154 26,704 14,380 (1,457) 1,150 (1,338)
	24,990 16,154 26,704

Level 2, 100 Railway Road, Subiaco WA 6008, PO Box 8129, Subiaco East WA 6008 Phone: +61 (0)8 9380 9920 Fax: +61 (0)8 9381 5064

Peninsula Energy Limited - ABN: 67 062 409 303