Goodwill	12 Months Ended
Dec. 31, 2012
Goodwill
Goodwill	8. Goodwill Goodwill on acquisition is initially measured at cost being the excess of the cost of the business acquired including directly related professional fees over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is related to the acquisition of Timios ($1,674,242) and DSUSA ($2,312,974) and was tested for impairment at December 31, 2012. As a result of this testing, management determined that DSUSA’s goodwill was impaired and consequently recorded an impairment charge of $2,312,974 at December 31, 2012. Timios’ goodwill will continue to be tested annually or more frequently if events or changes in circumstances indicate that the carrying amount may be impaired. The impairment review requires management to undertake certain judgments, including estimating the recoverable value of the business acquired to which the goodwill relates, based on either fair value less costs to sell or the value in use, in order to reach a conclusion on whether it deems the goodwill to be recoverable. Estimating the fair value less costs to sell is based on the best information available, and refers to the amount at which the business acquired could be sold in a current transaction between willing parties. The valuation methods are based on a discounted cash flow approach. This approach uses transaction multiples, obtained from comparable businesses in the industry sector in which the acquired business operates. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects management’s estimate of return on capital employed, which is subject to a value in use calculation. Any impairment is recognized immediately in the income statement and is not subsequently reversed. No goodwill impairment was recognized for the Transition Period ended December 31, 2011 or the fiscal year ended June 30, 2011.

Goodwill

12 Months Ended

Dec. 31, 2012

8. Goodwill

Goodwill on acquisition is initially measured at cost being the excess of the cost of the business acquired including directly related professional fees over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities.

Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is related to the acquisition of Timios ($1,674,242) and DSUSA ($2,312,974) and was tested for impairment at December 31, 2012. As a result of this testing, management determined that DSUSA’s goodwill was impaired and consequently recorded an impairment charge of $2,312,974 at December 31, 2012. Timios’ goodwill will continue to be tested annually or more frequently if events or changes in circumstances indicate that the carrying amount may be impaired.

The impairment review requires management to undertake certain judgments, including estimating the recoverable value of the business acquired to which the goodwill relates, based on either fair value less costs to sell or the value in use, in order to reach a conclusion on whether it deems the goodwill to be recoverable. Estimating the fair value less costs to sell is based on the best information available, and refers to the amount at which the business acquired could be sold in a current transaction between willing parties. The valuation methods are based on a discounted cash flow approach. This approach uses transaction multiples, obtained from comparable businesses in the industry sector in which the acquired business operates. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects management’s estimate of return on capital employed, which is subject to a value in use calculation.

Any impairment is recognized immediately in the income statement and is not subsequently reversed. No goodwill impairment was recognized for the Transition Period ended December 31, 2011 or the fiscal year ended June 30, 2011.