| UNITED STATES DOLLAR | ||||||||||||
| 2017 | 2016 | 2015 | ||||||||||
|
(b) Maverix Metals Incorporated (“Maverix”) |
||||||||||||
|
Gold Fields’ interest in Maverix, listed on the Toronto Stock Exchange, was 28% (2016: 32%) at 31 December 2017. |
||||||||||||
|
On 23 December 2016, Gold Fields sold a portfolio of 11 producing and non-producing royalties to Maverix in exchange for 42.85 million common shares and 10.0 million common share purchase warrants of Maverix, realising a profit on disposal of US$48.0 million. The warrants are classified as derivative instruments and are included in investments (refer note 17). |
||||||||||||
|
Maverix has a 31 December year-end and has been equity-accounted since 23 December 2016. Equity accounting for Maverix is based on the latest available published results to 30 September 2017. |
||||||||||||
|
Investment in associate consists of: |
||||||||||||
|
Listed shares at cost |
42.1 | 42.1 | ||||||||||
|
Transaction costs capitalised |
0.3 | — | ||||||||||
|
Share of profit after taxation |
0.3 | — | ||||||||||
|
|
|
|
|
|||||||||
|
Investment in associate - Maverix |
42.7 | 42.1 | ||||||||||
|
|
|
|
|
|||||||||
|
The fair value of the investment in Maverix at 31 December 2017 is US$57.2 million (2016: US$42.1 million). |
||||||||||||