RANDGOLD RESOURCES LTD | CIK:0001175580 |

 

$000		Note		Dec 31, 2017			Dec 31, 2016
Trade receivables					17,998			34,099
Advances to contractors					2,638			7,861
Taxation debtors		7.1			142,090			112,684
Prepayments and other receivables					68,999			67,712
Gounkoto advance dividend		7.2			7,602			9,074
Total					239,327			231,430
Less: current portion					(184,275)			(231,430)
Non-current portion		7.1			55,052			-

 

7.1 The taxation debtors primarily relate to indirect taxes owing to the group by the State of Mali, including TVA balances at Loulo of $91.9 million (2016: $61.6 million) and Gounkoto of $21.9 million (2016: $26.2 million). The taxation debtor also includes corporate tax prepayments at Loulo of $21.0 million (2016: $18.5 million) and Gounkoto of $7.3 million (2016: $6.4 million).

7.2 Refer to note 2 for details of the Gounkoto dividend.

The classes within trade and other receivables do not contain impaired assets. The carrying values are considered to approximate fair values.

 

The credit quality of receivables that are not past due or impaired is considered high. The maximum exposure to credit risk at the reporting date is the fair value of each class of receivable mentioned above. The group does not hold any collateral as security although it has the legally binding right to offset TVA balances with other taxation payable in Mali, and exercises this right. Refer to note 17 for further information on the concentration of credit risk.

 

The terms of payment of trade receivables are less than seven days, advances to contractors 30 days.