Caledonia Mining Corp Plc | CIK:0000766011 | 3

  • Filed: 4/2/2018
  • Entity registrant name: Caledonia Mining Corp Plc (CIK: 0000766011)
  • Generator: Thunderdome
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/766011/000117184318002450/0001171843-18-002450-index.htm
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    • ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory

    32
    Operating Segments
     
    The Group's operating segments have been identified based on geographic areas.
    The strategic business units are managed separately because they require different technology and marketing strategies. For each of the strategic business units, the Group’s CEO reviews internal management reports on at least a quarterly basis. Zimbabwe and South Africa describe the operations of the Group's reportable segments. The Zimbabwe operating segment comprise Caledonia Holdings Zimbabwe Limited and subsidiaries. The South Africa geographical segment comprise a gold mine, that is on care and maintenance, as well as sales made by Caledonia Mining South Africa Proprietary Limited to the Blanket Mine. The holding company and Greenstone Management Services Holdings Limited (UK) responsible for administrative functions within the group are taken into consideration in the strategic decision-making process of the CEO and are therefore included in the disclosure below. Corporate and other reconciling amounts do
    not
    represent a separate segment. Information regarding the results of each reportable segment is included below. Performance is measured based on segment profit before income tax, as included in the internal management report that are reviewed by the Group's CEO. Segment profit is used to measure performance as management believes that such information is the most relevant in evaluating the results of certain segments relative to other entities that operate within these industries.
     
    Information about reportable segments 2017   Zimbabwe     South Africa     Inter-group eliminations adjustments     Corporate and other reconciling amounts     Total  
    Revenue    
    69,762
    		      
    -
    		      
    -
    		      
    -
    		      
    69,762
    		  
    Inter-segmental revenue    
    -
    		      
    15,247
    		      
    (15,061
    		 )    
    (186
    		 )    
    -
    		  
    Royalties    
    (3,498
    		 )    
    -
    		      
    -
    		      
    -
    		      
    (3,498
    		 )
    Production costs    
    (36,753
    		 )    
    (14,751
    		 )    
    15,324
    		      
    -
    		      
    (36,180
    		 )
    Depreciation    
    (4,019
    		 )    
    (53
    		 )    
    309
    		      
    -
    		      
    (3,763
    		 )
    Management fee
    *
    		    
    (3,960
    		 )    
    3,960
    		      
    -
    		      
    -
    		      
    -
    		  
    Other income    
    2,358
    		      
    205
    		      
    -
    		      
    31
    		      
    2,594
    		  
    Other expenses    
    -
    		      
    (195
    		 )    
    -
    		      
    -
    		      
    (195
    		 )
    Administrative expenses    
    (40
    		 )    
    (2,258
    		 )    
    -
    		      
    (3,613
    		 )    
    (5,911
    		 )
    Cash settled share-based payment expense    
    (581
    		 )    
    -
    		      
    -
    		      
    (395
    		 )    
    (976
    		 )
    Equity-settled share-based payment expense    
    (806
    		 )    
    -
    		      
    -
    		      
    (29
    		 )    
    (835
    		 )
    Net Foreign exchange gain    
    (375
    		 )    
    207
    		      
    -
    		      
    (212
    		 )    
    (380
    		 )
    Net finance cost    
    (69
    		 )    
    10
    		      
    -
    		      
    28
    		      
    (31
    		 )
    Profit before tax    
    22,019
    		      
    2,372
    		      
    572
    		      
    (4,376
    		 )    
    20,587
    		  
    Tax expense    
    (7,587
    		 )    
    (1,104
    		 )    
    -
    		      
    -
    		      
    (8,691
    		 )
    Profit for the year    
    14,432
    		      
    1,268
    		      
    572
    		      
    (4,376
    		 )    
    11,896
    		  
     
    * Of the management fee
    $561
    was receivable and payable at year end (
    2016:
    $641;
    2015:
    $280
    ).
     
     
     
    Information about reportable segments 2017   Zimbabwe     South Africa     Inter-group elimination adjustments     Corporate and other reconciling amounts     Total  
    Geographic segment assets:
    		                                       
    Current (excluding intercompany)    
    20,368
    		      
    2,766
    		      
    (60
    		 )    
    4,839
    		      
    27,913
    		  
    Non-current (excluding intercompany)    
    82,798
    		      
    381
    		      
    (1,076
    		 )    
    40
    		      
    82,143
    		  
    Expenditure on property, plant and equipment    
    21,007
    		      
    (7
    		 )    
    (51
    		 )    
    -
    		      
    20,949
    		  
    Intercompany balances    
    -
    		      
    8,021
    		      
    (58,087
    		 )    
    50,066
    		      
    -
    		  
                                             
    Geographic segment liabilities
    		                                       
    Current (excluding intercompany)    
    (13,969
    		 )    
    (1,276
    		 )    
    -
    		      
    (357
    		 )    
    (15,602
    		 )
    Non-current (excluding intercompany)    
    (23,041
    		 )    
    (714
    		 )    
    293
    		      
    (1,781
    		 )    
    (25,243
    		 )
    Intercompany balances    
    (2,720
    		 )    
    (32,724
    		 )    
    58,087
    		      
    (22,643
    		 )    
    -
    		  
     
    Information about reportable segments 2016   Zimbabwe     South Africa     Inter-group eliminations adjustments     Corporate and other reconciling amounts     Total  
    Revenue    
    61,992
    		      
    -
    		      
    -
    		      
    -
    		      
    61,992
    		  
    Inter-segmental revenue    
    -
    		      
    11,873
    		      
    (11,348
    		 )    
    (525
    		 )    
    -
    		  
    Royalties    
    (2,923
    		 )    
    -
    		      
    -
    		      
    -
    		      
    (2,923
    		 )
    Production costs    
    (33,081
    		 )    
    (10,185
    		 )    
    11,180
    		      
    -
    		      
    (32,086
    		 )
    Depreciation    
    (3,733
    		 )    
    (47
    		 )    
    289
    		      
    -
    		      
    (3,491
    		 )
    Management fee    
    (3,960
    		 )    
    3,960
    		      
    -
    		      
    -
    		      
    -
    		  
    Other income    
    1,194
    		      
    16
    		      
    -
    		      
    120
    		      
    1,330
    		  
    Other expenses    
    (55
    		 )    
    -
    		      
    -
    		      
    -
    		      
    (55
    		 )
    Administrative expenses    
    (128
    		 )    
    (3,119
    		 )    
    674
    		      
    (4,690
    		 )    
    (7,263
    		 )
    Share-based payment expenses    
    (342
    		 )    
    (106
    		 )    
    -
    		      
    (340
    		 )    
    (788
    		 )
    Net Foreign exchange gain    
    2
    		      
    (529
    		 )    
    -
    		      
    22
    		      
    (505
    		 )
    Margin call on hedge    
    -
    		      
    -
    		      
    -
    		      
    (435
    		 )    
    (435
    		 )
    Net finance cost    
    (191
    		 )    
    15
    		      
    -
    		      
    -
    		      
    (176
    		 )
    Sale of Blanket Mine treasury    
    3,202
    		      
    -
    		      
    -
    		      
    -
    		      
    3,202
    		  
    Profit before tax    
    21,977
    		      
    1,878
    		      
    795
    		      
    (5,848
    		 )    
    18,802
    		  
    Tax expense    
    (6,795
    		 )    
    (922
    		 )    
    -
    		      
    -
    		      
    (7,717
    		 )
    Profit for the year    
    15,182
    		      
    956
    		      
    795
    		      
    (5,848
    		 )    
    11,085
    		  
     
     
     
    Information about reportable segments 2016   Zimbabwe     South Africa     Intergroup elimination adjustment     Corporate and other reconciling amounts     Total  
    Geographic segment assets:
    		                                       
    Current    
    19,501
    		      
    1,616
    		      
    (375
    		 )    
    5,050
    		      
    25,792
    		  
    Non-current (excluding intercompany)    
    65,824
    		      
    388
    		      
    (1,335
    		 )    
    40
    		      
    64,917
    		  
    Additions to property, plant and equipment    
    19,000
    		      
    36
    		      
    123
    		      
    -
    		      
    19,159
    		  
    Intercompany balances    
    -
    		      
    7,080
    		      
    (49,951
    		 )    
    42,871
    		      
    -
    		  
                                             
    Geographic segment liabilities
    		                                       
    Current    
    (8,801
    		 )    
    (718
    		 )    
    -
    		      
    (313
    		 )    
    (9,832
    		 )
    Non-current (excluding intercompany)    
    (21,043
    		 )    
    (517
    		 )    
    -
    		      
    -
    		      
    (21,560
    		 )
    Intercompany balances    
    (2,184
    		 )    
    (32,867
    		 )    
    49,951
    		      
    (14,900
    		 )    
    -
    		  
     
    Information about reportable segments 2015   Zimbabwe     South Africa     Zambia     Inter-group eliminations adjustments     Corporate and other reconciling     Total  
                                         
    Revenue    
    48,977
    		      
    -
    		      
    -
    		      
    -
    		      
    -
    		      
    48,977
    		  
    Inter-segmental revenue    
    -
    		      
    17,017
    		      
    -
    		      
    (26,514
    		 )    
    9,497
    		      
    -
    		  
    Royalties    
    (2,455
    		 )    
    -
    		      
    -
    		      
    -
    		      
    -
    		      
    (2,455
    		 )
    Production costs    
    (30,955
    		 )    
    (12,174
    		 )    
    -
    		      
    13,110
    		      
    -
    		      
    (30,019
    		 )
    Depreciation    
    (3,559
    		 )    
    (42
    		 )    
    -
    		      
    279
    		      
    -
    		      
    (3,322
    		 )
    Other income    
    55
    		      
    46
    		      
    -
    		      
    -
    		      
    9
    		      
    110
    		  
    Management fee    
    (4,140
    		 )    
    4,140
    		      
    -
    		      
    -
    		      
    -
    		      
    -
    		  
    Administrative expenses    
    (118
    		 )    
    (8,135
    		 )    
    (750
    		 )    
    7,183
    		      
    (5,802
    		 )    
    (7,622
    		 )
    Equity-settled share-based payment expense    
    -
    		      
    -
    		      
    -
    		      
    -
    		      
    (24
    		 )    
    (24
    		 )
    Net foreign exchange gain    
    -
    		      
    2,419
    		      
    -
    		      
    -
    		      
    431
    		      
    2,850
    		  
    Finance income    
    -
    		      
    1
    		      
    -
    		      
    -
    		      
    -
    		      
    1
    		  
    Finance expense    
    (190
    		 )    
    (2
    		 )    
    -
    		      
    -
    		      
    (344
    		 )    
    (536
    		 )
    Profit before income tax    
    7,615
    		      
    3,270
    		      
    (750
    		 )    
    (5,942
    		 )    
    3,767
    		      
    7,960
    		  
    Tax expense    
    (2,616
    		 )    
    (276
    		 )    
    -
    		      
    -
    		      
    522
    		      
    (2,370
    		 )
    Profit after income tax    
    4,999
    		      
    2,994
    		      
    (750
    		 )    
    (5,942
    		 )    
    4,289
    		      
    5,590
    		  
     
     
    Major customer
     
    Revenues from Fidelity Printers in Zimbabwe amounted to approximately
    $69,762
    (
    2016:
    $61,992;
    2015:
    $48,977
    ).