Annual Report 2009
Fees payable to the Company’s auditors for: the audit of the Company’s annual accounts other services
The operating loss is stated after charging:
Loss on ordinary activities before taxation
Remuneration in respect of directors was as follows:
P L Cheetham (salary)
F P H Johnstone (salary)
N L Herbert (salary)
The above remuneration amounts do not include share based payments charged in these financial statements in respect of warrants issued to the directors amounting to £7,412 (2008: £7,514).
Staff costs The Company does not employ any staff directly apart from the directors, as shown in Note 4. The services
of technical and administrative staff are provided by Tertiary Minerals plc as part of the management services agreement between the two companies. The Company issues warrants to Tertiary Minerals plc staff from time to time and these share based payments resulted in a charge within the financial statements of £3,434 (2008: receipt of £382).
Loss per share Loss per share has been calculated on the loss and the weighted average number of shares in issue during the year.
Loss (£) Weighted average shares in issue (No.) Basic and diluted loss per share (pence)
The loss attributable to ordinary shareholders and weighted average number of ordinary shares for the purpose of calculating the diluted earnings per ordinary share are identical to those used for the basic earnings per ordinary share. This is because the exercise of share warrants would have the effect of reducing the loss per ordinary share and is therefore not dilutive under the terms of IAS 33.