Segment Reporting

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Reporting

All of the Company's operations are in the mineral properties exploration industry with its principal business activity in mineral exploration. The Company conducts its activities primarily in Argentina. All of the Company's long-lived assets are located in Argentina.

The Company’s net income/(loss) and its geographic allocation of total assets and total liabilities may be summarized as follows: 

	Lomada Project			Cap- Oeste Project			Calcatreu Project			Martha and La Josefina Projects			Argentina Uruguay and Chile			UK			North America			Total
	$’000			$’000			$’000			$’000			$’000			$’000			$’000			$’000
Revenue	$	4,750			14,903		$	-		$	2,285		$	-		$	-		$	-		$	21,938
Cost of sales		(3,879	)		(11,006	)		-			(1,545	)		-			-			-			(16,430	)
Gross profit	$	871			3,897		$	-		$	740		$	-		$	-		$	-		$	5,508
Operating expense
Exploration expense	$	-			(227	)	$	(1,300	)	$	(300	)	$	(1,931	)	$	-		$	-		$	(3,758	)
Administrative expense		-			-			(279	)		(871	)		(4,072	)		(1,433	)		(307	)		(6,962	)
Depreciation expense		-			-			(18	)		(115	)		(67	)		(100	)		-			(300	)
Impairment of mineral properties		-			-			-			-			-			(1,996	)		-			(1,996	)
Share-based payments		-			-			-			-			-			(40	)		(87	)		(127	)
Interest expense		-			-			-			-			(765	)		(782	)		(584	)		(2,131	)
Total operating expense	$	-			(227	)	$	(1,597	)	$	(1,286	)	$	(6,835	)	$	(4,351	)	$	(978	)	$	(15,274	)
Other income/(expense)
Interest income	$	-			-		$	34		$	-		$	157		$	-		$	-		$	191
Gain/(loss) on foreign exchange		-			-			(11	)		(152	)		628			(440	)		352			377
Accretion expense		(46	)		(39	)		-			(94	)		-			-			-			(179	)
Total other income/(expense)	$	(46	)		(39	)	$	23		$	(246	)	$	785		$	(440	)	$	352		$	389
Income/(loss) – before income tax	$	825			3,631		$	(1,574	)	$	(792	)	$	(6,050	)	$	(4,791	)	$	(626	)	$	(9,377	)
Income tax/(benefit)		-			-			(193	)		(866	)		761			-			-			(298	)
Net income/(loss)	$	825			3,631		$	(1,767	)	$	(1,658	)	$	(5,289	)	$	(4,791	)	$	(626	)	$	(9,675	)

	Lomada Project		Cap- Oeste Project			Calcatreu Project			COSE Project		Argentina Uruguay and Chile			UK			North America			Total
		$’000		$’000			$’000			$’000		$’000			$’000			$’000			$’000
Revenue	$	-	$	47,441		$	-		$	-	$	-		$	-		$	-		$	47,441
Cost of sales		-		(36,361	)		-			-		-			-			-			(36,361	)
Gross profit	$	-	$	11,080		$	-		$	-	$	-		$	-		$	-		$	11,080
Operating expense
Other operating income	$	-	$	-		$	-		$	1,505	$	-		$	-		$	-		$	1,505
Exploration expense		-		-			(1,720	)		-		(82	)		-			-			(1,802	)
Administrative expense		-		-			(61	)		-		(4,706	)		(1,005	)		(80	)		(5,852	)
Depreciation expense		-		-			(105	)		-		(60	)		-			-			(165	)
Impairment of mineral properties		-		-			-			-		-			-			-			-
Share-based payments		-		-			-			-		-			(190	)		-			(190	)
Interest expense		-		-			-			-		(1,275	)		(390	)		-			(1,665	)
Total operating expense	$	-	$	-		$	(1,886	)	$	1,505	$	(6,123	)	$	(1,585	)	$	(80	)	$	(8,169	)
Other income/(expense)
Interest income	$	-	$	-		$	-		$	-	$	142		$	-		$	-		$	142
Gain/(loss) on foreign exchange		-		-			(71	)		-		(12,252	)		1,026			(1,464	)		(12,761	)
Accretion expense		-		-			-			-		(578	)		-			-			(578	)
Total other income/(expense)	$	-	$	-		$	(71	)	$	-	$	(12,688	)	$	1,026		$	(1,464	)	$	(13,197	)
Income/(loss) – before income tax	$	-	$	11,080		$	(1,957	)	$	1,505	$	(18,811	)	$	(559	)	$	(1,544	)	$	(10,286	)
Income tax/(benefit)		-		-			-			-		2,440			-			-			2,440
Net income/(loss)	$	-	$	11,080		$	(1,957	)	$	1,505	$	(16,371	)	$	(559	)	$	(1,544	)	$	(7,846	)

	Total Assets				Total liabilities
	December 31,				December 31
	2019		2018		2019		2018
	$’000		$’000		$’000		$’000
Argentina – Cap-Oeste	$	9,116	$	19,005	$	2,629	$	4,374
Argentina - Lomada		2,996		1,231		1,979		1,220
Argentina - Calcatreu		14,678		13,751		1,591		256
Argentina - Martha & La Josefina		12,106		-		5,475		-
Argentina and Chile		11,263		11,270		3,875		13,532
United Kingdom		177		1,951		20,240		11,333
North America		4,453		-		9,824		-
Total	$	54,789	$	47,208	$	45,613	$	30,715