PRINCIPAL SUBSIDIARIES

12 Months Ended

Dec. 31, 2017

Interests In Other Entities [Abstract]

PRINCIPAL SUBSIDIARIES

22. PRINCIPAL SUBSIDIARIES

The consolidated financial statements include the accounts of the Company and all of its subsidiaries at December 31, 2017. The principal operating subsidiaries are Wassa and Bogoso/Prestea, in which the Company has a 90% ownership interest in each.

Set out below is summarized financial information for each subsidiary that has non-controlling interests that are material to the group. The amounts are disclosed on a 100% basis and disclosure for each subsidiary are based on those included in the consolidated financial statements before inter-company eliminations.

Summarized statement of financial position

	Wassa						Bogoso/Prestea
	As of December 31,						As of December 31,
	2017			2016			2017			2016
Non-controlling interest percentage	10		%	10		%	10		%	10		%
Current assets	$	94,760		$	90,627		$	25,023		$	13,957
Current liabilities	160,725			166,230			1,058,732			1,011,786
	(65,965		)	(75,603		)	(1,033,709		)	(997,829		)
Non-current assets	138,416			125,628			131,245			95,527
Non-current liabilities	25,016			19,513			76,373			81,155
	113,400			106,115			54,872			14,372
Net assets/(liabilities)	47,435			30,512			(978,837		)	(983,457		)
Non-controlling interest	$	(12,562	)	$	(10,870	)	$	78,587		$	79,083

Summarized income statement

	Wassa					Bogoso/Prestea
	For the years ended December 31,					For the years ended December 31,
	2017		2016			2017		2016
Revenue	$	156,908	$	103,991		$	138,295	$	101,648
Net income/(loss) and comprehensive income/(loss)	16,924		(5,870		)	4,619		(15,289		)

Summarized cash flows

	Wassa				Bogoso/Prestea
	For the years ended December 31,				For the years ended December 31,
	2017		2016		2017		2016
Cash flows provided by/(used in) operating activities	27,486		16,757		3,505		(43,190	)
Cash flows used in investing activities	(21,744	)	(42,189	)	(43,616	)	(43,244	)
Cash flows provided by financing activities	7,468		18,376		42,078		88,330