Page 80 - Sun Resources Annual Report 2013

27 Remuneration of Auditors
During the year the following fees were paid or payable for services provided by the auditor of the parent entity, its
related practices and non-related audit firms:
Consolidated
2013 2012
$ $
a Audit services
BDO Audit (WA) Pty Ltd
Audit and review of financial reports 47,951 41,416
Total remuneration for audit services 47,951 41,416
b Non-audit services
BDO Tax (WA) Pty Ltd
Taxation compliance services 10,770 13,841
Other - -
Total remuneration for non-audit services 10,770 13,841
It is the Group’s policy to employ BDO on assignments additional to their statutory audit duties where BDO expertise
and experience to the Group are important. These assignments are principally tax compliance services and it is the
Group’s policy to seek competitive tenders for all major consulting projects.
28 Loss per Share
Loss used to calculate basic loss per share (10,247,996) (4,419,084)
Weighted average number of ordinary shares outstanding during the year used
in calculating basic EPS 1,789,149,406 907,313,469
Diluted loss per share is not reflected as the result is currently anti-dilutive in nature. The issued options however,
could be potentially dilutive in the future.
29 Events after the Reporting Date
Capital Raising of $13.5 million
On 8 August 2013 the Company completed a successful capital raising of $13.5 million via private placement with a
wholly-owned subsidiary of Hancock Prospecting Pty Ltd, representing an 18.48% interest in Sun Resources’ share
capital upon completion of the placement.
The private placement of 450 million new shares at an issue price of $0.03 was completed under the Company’s
25% placement capacity.
Exit from Flour Bluff, East Flour Bluff and Pita Island Fields
Subsequent to 30 June 2013, Sun Resources gave formal notice to the Operator of the Flour Bluff area of interest
that the Company intended to withdraw as a participant in the joint venture in terms of the Joint Operating Agreement
which has been accepted by the operator.
Other than disclosed above, no event has occurred since 30 June 2013 that would materially affect the operations
of the Consolidated Entity, the results of the Consolidated Entity, or the state of affairs of the Consolidated Entity not
otherwise disclosed in the Consolidated Entity’s financial statements.
SUN RESOURCES ANNUAL REPORT 2013 78
NOTES TO AND FORMING PART OF THE CONSOLIDATED
FINANCIAL STATEMENTS