we seek to maintain financial strength and control in order to support the company's long-term strategic objectives, by ensuring operational continuity, allocating continuous investment in exploration, and maintaining flexible capital funding options

Consolidated Income Statement

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(thousands US)

Year ended 30-Dec. 2012 2011
Revenues  2,157,404 2,192,663
Cost of sales  (806,700) (629,200)
Gross profit  1,350,704 1,563,463
Administrative expenses  (53,212) (56,516)
Exploration expenses  (233,532) (133,994)
Selling expenses  (6,306) (6,532)
Other operating income  6,912 8,898
Other operating expenses  (17,770) (14,432)
Profit before net finance costs and income tax  1,046,796 1,360,887
Finance income 12,273  8,172
Finance costs  (3,922) (9,236)
Revaluation effects of Silverstream contract  117,682 159,865
Foreign exchange (loss)/ gain  (8,402) (14,694)
Profit before income tax  1,164,427 1,534,382
Income tax expense  318,982 (495,766)
Profit for the year  845,445 1,038,616
Attributable to:
Equity shareholders of the Company  736,089 901,748
Non-controlling interest  109,356 136,868
 845,445 1,038,616
Earnings per share: (US$)
Basic and diluted earnings per ordinary share  1.026 1.257