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AXIOM MINING LIMITED
ANNUAL REPORT 2015
Notes to the
financial statements
for the year ended 30 September 2015
GROUP FINANCIAL REPORT
16. Capital and reserves (continued)
b. Reserves
2015
$000
2014
$000
Exchange reserve
(830)
(1,215)
Share-based payment reserve
2,022
1,120
1,192
(95)
Nature and purpose of reserves
i. Exchange reserve
The exchange reserve comprises all foreign exchange differences arising from the translation of the financial statements
of foreign operations. The reserve is dealt with in accordance with the accounting policy set out in Note 2(s).
ii. Share-based payments reserve
The share-based payments reserve is used to recognise:
–
The grant date fair value of performance rights issued to employees and directors.
–
The grant date fair value of shares issued to employees.
–
The grant date fair value of options issued to consultants.
c. Distributability of reserves
At 30 September 2015, the aggregate amount of reserves available for distribution to shareholders of the Company was nil
(2014: nil).