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Non-controlling Interest
12 Months Ended
Dec. 31, 2019
Noncontrolling Interest [Abstract]  
Non-controlling Interest
    Amount  
     $’000  
Balance at December 31, 2017   $ 407  
Share of 2018 operating income/(loss)     (528 )
Balance at December 31, 2018     (121 )
Share of operating income/(loss)     (122 )
Balance at December 31, 2019   $ (243 )

 

On October 14, 2011, Patagonia Gold PLC, PGSA and Fomicruz entered into the Fomicruz Agreement (Note 10). Pursuant to the Fomicruz Agreement, Fomicruz contributed to PGSA the rights to explore and mine on Fomicruz’s mining properties in Santa Cruz Province in exchange for a 10% equity interest in PGSA. This amount has been recorded as an increase in the equity of PGSA and as mining rights. In these consolidated financial statements, the increase in equity of PGSA has been recorded as non-controlling interest.

 

The share of operating losses relates to Lomada de Leiva which commenced production in 2013 and Cap-Oeste which commenced production in 2016.