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Central Asia Metals PLC Proposed acquisition of -78-

22 Sep 2017 6:01 am
   Other................................................................................................................................................................................................................. 
    ......................                                                                                                                                                                                                     1,307,187 
   Sales................................................................................................................................................................................................................. 
    .......................                                                                                                                                                                                                      454,762 
   Intercompany 
    loans............................................................................................................................................................................................................         10,395,509 
                                                                                                                                                                                                                            ------------ 
At 30 June 
 2017.....................................................................................................................................................................................................................     5,994,486 
                                                                                                                                                                                                                            ------------ 
 

Translation differences as above of $5,994,486 (30 June 2016: $2,643,625) originates from the intercompany loan between Lynx Mining and Lynx Europe, which is considered a net investment as settlement, which the timing of repayment is uncertain.
   15.       Deferred revenue-received advances for silver delivery 

The carrying amounts of the deferred revenue-received advances for silver delivery are as follows:
 
                                                                                             30 June     31 December 
                                                                                               2017          2016 
                                                                                           -----------  ------------ 
 Deferred revenue - received advances 
  for silver 
  delivery............................................................................... 
  ...............                                                                           20,626,969    21,573,555 
                                                                                            20,626,969    21,573,555 
                                                                                           -----------  ------------ 
 
 
                                                                                             30 June     31 December 
                                                                                               2017          2016 
                                                                                           -----------  ------------ 
 Current................................................................................ 
  ....................................................................................... 
  ..................                                                                         2,143,404     1,970,092 
 Non-current............................................................................ 
  ....................................................................................... 
  .............                                                                             18,483,565    19,603,463 
                                                                                            20,626,969    21,573,555 
                                                                                           -----------  ------------ 
 

On 1 September 2016, Lynx Group entered into a Silver Purchase Agreement with Lynx Metals Limited (Lynx Metals) by netting of its existing Loan payable with Lynx Metals. The prepayment for the purchase of silver are recognized as deferred income and are related to production of silver during the life time of the mine. Deferred income is recognized to the statement of comprehensive income as the silver is delivered based on the units of production.
   16.       Trade payable and other financial liabilities 
 
                                                                                              30 June    31 December 
                                                                                                2017         2016 
                                                                                            ----------  ------------ 
 Domestic trade 
  payables................................................................................ 
  .........................................................................                  1,831,864     2,596,279 
 Foreign trade 
  payables................................................................................ 
  ............................................................................                 499,218       813,117 
                                                                                            ----------  ------------ 
 Trade 
  payables................................................................................ 
  ........................................................................................ 
  .                                                                                          2,331,082     3,409,396 
 Employee related 
  liabilities............................................................................. 
  ......................................................................                       685,669       602,923 
 Concession 
  liability............................................................................... 
  .................................................................................            684,213       204,361 
 Professional fees 
  payable................................................................................. 
  .......................................................................                      154,243       116,285 
 Freight cost 
  payable................................................................................. 
  ................................................................................              96,334        30,847 
 Other current 
  liabilities............................................................................. 
  .............................................................................                119,390     1,042,235 
                                                                                            ----------  ------------ 
 Other financial 
  liabilities............................................................................. 
  .......................................................................                    1,739,849     1,996,651 
                                                                                            ==========  ============ 
 
   17.       Borrowings 
 
                                                                                             30 June     31 December 
                                                                                               2017          2016 
                                                                                          ------------  ------------ 
 Non-current 
  Borrowings............................................................................ 
  ...................................................................................... 
  ............                                                                              57,449,924    62,571,429 
 Current 
  Borrowings............................................................................ 
  ...................................................................................... 
  ............                                                                              14,219,300    28,752,611 
    Accrued interest                                                                                 -             - 
    payable............................................................................. 
    ........................................................................ 
                                                                                          ------------  ------------ 
                                                                                            71,669,224    91,324,040 
                                                                                          ============  ============ 
 

Current and non-current borrowings represent the long-term loan that was issued in amount of $75,000,000 from Societe Generale, Investec and Ohridska Banka (the Senior Facility) obtained in October 2016 with an interest rate of 3 month LIBOR plus 5%, maturing on 30 September 2023. For the six month period ending 30 June 2017 there have been repayments of borrowings.

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September 22, 2017 02:01 ET (06:01 GMT)

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