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2017 2016
0.6161897665 0.2900038285
or .6 or .3
December 31
2017 2016
ASSETS
Current Assets
Cash (Note 5) 423,908,113 237,508,978 186,399,135 78.48%
Trade and other receivable (Note 6) 621,998,486 194,468,066 427,530,420 219.85%
Inventories-net realizable value (Note 7) 743,868,417 773,320,136 (29,451,719) -3.81%
Advances to related parties (Note 15) 2,671,473 2,507,262 164,211 6.55%
Prepayments and other current assets (Note 8) 515,566,086 407,511,416 108,054,670 26.52%
Total Current Assets 2,308,012,575 1,615,315,858 692,696,717 42.88%
Noncurrent Assets
Property,plant and equipment (Note 10) 6,451,649,287 6,323,823,868 127,825,419 2.02%
Deferred exploration costs (Note 11) 2,508,533,635 2,310,047,312 198,486,323 8.59%
Available-for-sale (AFS) financial assets (Note 9) 344,640,000 344,640,000 -
Intangible assets ( Note 12) 192,550,574 192,764,143 (213,569) -0.11%
Other noncurrent assets(Note 13) 301,699,512 292,438,743 9,260,769 3.17%
Total Noncurrent Assets 9,799,043,008 9,463,714,066 335,328,942 3.54%
TOTAL ASSETS 12,107,055,583 11,079,029,924 1,028,025,659 9.28%
Current Liabilities
Trade and other payables (Note 14) 1,292,333,868 1,465,453,445 (173,119,577) -11.81%
Advance from related parties( Note 15) 976,012,000 978,230,761 (2,218,761) -0.23%
Loans payable - net of noncurrent portion (Note 18) 1,423,152,603 3,121,667,433 (1,698,514,830) -54.41%
Income tax payable 54,121,305 4,629,511 49,491,794 1069.05%
Total Current Liabilities 3,745,619,776 5,569,981,150 (1,824,361,374) -32.75%
Noncurrent Liabilities
Loans payable - net of current portion (Note 18) 2,440,476,190
Provision for retirement benefits (Note 16) 180,719,031 163,684,274 17,034,757 10.41%
Provision for mine rehabilitation and decommisioning ( Note 17) 32,813,580 42,837,160 (10,023,580) -23.40%
Deferred income tax liabilities (Note 27) 235,140,538 303,576,822 (68,436,284) -22.54%
Total Noncurrent Liabilities 2,889,149,339 510,098,256 2,379,051,083 466.39%
Total Liabilities 6,634,769,115 6,080,079,406 554,689,709 9.12%
COST OF
PRODUCTION 3,189,212,287 77.37% 2,699,036,348 76.63%
(Note 21)
EXCISE TAXES 83,918,675 2.04% 72,267,752 2.05%
GENERAL AND
ADMINISTRATIV
219,649,358 5.33% 225,983,326 6.42%
E EXPENSES
(Note 22)
FINANCE COSTS
201,850,279 4.90% 163,352,707 4.64%
(Note 26)
OTHER INCOME
(CHARGES) -net 7,859,248 0.19% 28,781,663 0.82%
(Note 23)
INCOME
BEFORE 419,698,278 10.18% 332,628,858 9.44%
INCOME TAX
BENEFIT FROM
(PROVISION
FOR) INCOME
TAX (Note 27)
Equity holders of
the Parent 427,988,216 10.38% 4,047,029 9.26%
Company
Non-controlling
766,439 0.02% 321,959,254 0.11%
interests
BASIC/DILUTED
EARNINGS PER 0.08 P0.06
SHARE (Note 20)
Analysis:
In this vertical analysis of APEX Mining Co. Inc., we can that the company’s net income
increased from 2016 to 2017 by 1.26%. One thing that made this is they had increased the
production supply to produce more output.