Speciality Metals International Limited Annual Report 2019

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Page | 54 26. OPERATING SEGMENTS Segment Information Identification of Reportable Segments During the year, the Company operated principally in one business segment being mineral exploration and in two geographical segments being Australia and Chile. The Company’s revenues and assets and liabilities according to geographical segments are shown below. June 2019 June 2018 Total Australia Chile Total Australia Chile $ $ $ $ $ $ REVENUE Revenue 245,936 245,936 - 42,774 42,774 - Total segment revenue 245,936 245,936 - 42,774 42,774 - RESULTS Net profit / (loss) before income tax 3,808,863 3,808,863 - (1,478,746) (1,305,519) (173,227) Income tax - - - - - - Net profit / (loss) 3,808,863 3,808,863 - (1,478,746) (1,305,519) (173,227) ASSETS AND LIABILITIES Assets 15,966,609 15,966,609 - 2,869,294 2,869,294 - Liabilities 5,061,568 5,061,568 - 196,858 196,858 - 27. RELATED PARTY DISCLOSURES a. The Company’s main related parties are as follows: i. Key management personnel: Any person(s) having authority and responsibility for planning, directing and controlling the activities of the Company, directly or indirectly, including any director (whether executive or otherwise), are considered key management personnel. The directors in office during the year were as follows: - Russell Henry Krause - Roland Waynne Nice - Stephen Layton Appointed Non Executive Chairman on 30 June 2013; Appointed Executive Chairman on 14 November 2017. Appointed 30 June 2013 / Resigned 12 August 2019. Appointed 14 November 2017. For details of disclosures relating to key management personnel, refer to Key Management Personnel disclosures Directors and Remuneration Report.