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Current assets

Cost

Finished goods - bullion

680

1,078

1,441

Finished goods - metal in concentrate

507

159

203

Metal in circuit

12,618

16,267

11,899

Ore stockpiles

5,040

2,043

4,635

Spare parts and consumables

8,242

9,146

8,019

Total current inventories

27,087

28,693

26,197

Total inventories

29,682

30,764

28,740

Current ore stockpiles consist of high-grade and low-grade oxide ores that are expected to be processed during the

12 months subsequent to the balance sheet date.

Non-current ore stockpiles consist of high-grade sulphide ore that is expected to be processed more than 12 months

after the balance sheet date.

Inventory is recognised at lower of cost or net realisable value.

8 Trade and other receivables

Non-current assets

30 June 2016

(unaudited)

$000

30 June 2015

(unaudited)

$000

31 December 2015

(audited)

$000

Advances for fixed asset purchases

1,018

677

-

Loans

95

141

120

1,113

818

120

Current assets

Gold held due to the Government of Azerbaijan

5,093

8,349

12,412

VAT refund due

319

538

186

Other tax receivable

789

617

720

Trade receivables

1,820

341

642

Prepayments and advances

2,138

2,628

2,121

Loans

50

50

50

10,209

12,523

16,131

The carrying amount of trade and other receivables approximates to their fair value.

The VAT refunds due relate to VAT paid on purchases.

Gold bullion held and transferable to the Government of Azerbaijan is bullion held by the Group due to the

Government of Azerbaijan. The Group holds the Government's share of the product from its mining activities and

from time to time transfers that product to the Government of Azerbaijan. A corresponding liability to the Government

of Azerbaijan is included in trade and other payables as disclosed in note 9.

The Group does not consider any trade and other receivables as past due or impaired.

9 Trade and other payables

30 June 2016

(unaudited)

$000

30 June 2015

(unaudited)

$000

31 December 2015

(audited)

$000